Future Generali Future Varishta Bima Health Insurance

Specifically designed for senior citizens, Future Varishta Bima is excellent in terms of coverage benefits. With the policy by your side, you won’t have to worry about expenses related to inpatient hospitalisation, room rent, medicine & drugs, Operation Theatre charges, fees of consultants & specialists, diagnostic materials and X-ray, day care procedures, pre-hospitalisation and post-hospitalisation. But, that’s not all! Other than the regular coverage benefits, the policy offers a couple of others that include-

• Wide coverage at an affordable premium
• Cashless facility available for claim settlement 
• No loading on premium for adverse claims experience
• Road ambulance charges up to Rs. 1000 per hospitalisation
• A free-look period of 15 days for canceling the policy after it has been purchased 
• Facility of instalment premium payment available on monthly, quarterly, and half-yearly basis
• Free medical check-up after every continuous period of 1 year, irrespective of claim-free years
• Freedom to port your existing policy with Future Generali to maximize benefits and services offered 

Now that basic coverage offered by Future Varishta Bima has been discussed, let’s focus on two major points. Firstly, the policy features co-payment on each and every claim on the admissible hospital bill, except for claim related to pre & post hospitalisation. Also, there are sub-limits applicable for specified procedures under the policy. However, the good news is that the policy comprises features that make it worthwhile irrespective of these controls. These positive key aspects include-

• Lifelong renewability
• Tax relief as provided under Section 80D of the Income Tax Act
• 50% reimbursement of pre-medical tests charges to the insured individual
• Up to 10% long-term discount in case of upfront premium payment for long term policy
• Family discount on covering two or more family members in the same policy on individual sum insured basis
• 10% discount if the insured produces the latest medical reports within 15 days of the tests done, in addition to proposal form and the proposal is accepted (available for sum insured options of Rs. 2 Lakh)

All in all, Future Varishta Bima is a great policy that caters to the diverse medical needs of senior citizens without letting them feel helpless in financial terms. So, if you have been looking for an affordable senior citizen health insurance for yourself and your spouse, go for this one.

For buying Future Varishta Bima, it’s better if you go for online purchase of the policy so that it gets issued without any delay, unlike in the case of offline purchase. Furthermore, you can choose InsuranceDekho for the purchase process if you want to make the most of policy portability, claim settlement support, and multiple other after-sales services provided by the company to its vast base of customers.

The combined coverage limit on pre and post hospitalisation expenses depends on the sum insured. It is Rs. 4000 for sum insured of Rs. 2 Lakh, Rs. 6000 for sum insured of Rs. 3 Lakh, Rs. 8000 for sum insured of Rs. 4 Lakh and Rs. 10,000 for sum insured of Rs. 5 Lakh and above.

The plan offers several premium discounts. Firstly, 5% discount is allowed for choosing a term of 2 years and 15% for 3 years. Secondly, if the spouse is also covered, 10% premium discount is allowed. Lastly, if the sum insured is up to Rs. 5 Lakh and the insured submits the medical reports within 15 days of the tests, 10% premium discount is allowed.

No, though the policy allows premiums to be paid in instalments, loading is applicable in such cases. If the premium is paid half-yearly, loading is added @ 3%. If paid quarterly the loading is 4% and for monthly mode the loading is 5% of the premium.

Yes, since the plan covers senior citizens, co-payment is applicable. The co-payment rate is 50% for illnesses and claims arising out of pre-existing conditions. For other types of claims, however, the co-payment ratio is 25%. However, the 25% co-payment can be waived if the insured pays an additional premium.