National Insurance Varishtha Mediclaim for Senior Citizens

Invest In Tax Saving Mutual Funds Online

Download Tax Saving Mutual Fund Application Forms

Buy Gold Mutual Funds

Call 0 94 8300 8300 (India)

 

National Insurance Varishtha Mediclaim for Senior Citizens

	Objective			This is a special policy that aims to cover senior citizens against hospitalisation and critical illness expenses.
Suited for			Any senior citizen, upto 80 years of age, can buy this policy and renew it up to 90 years of age.
What does it do?			A senior citizen policy which will cover hospitalisation expenses, but with sub-limits. It offers additional coverage for critical illness only if policyholder opts for it. Most people in this age group suffer from diabetes or hypertension. This policy offers to cover pre-existing diabetes and hypertension for extra premium. No claim would be paid if the insured member smokes 40 or more cigarettes/ cigars or has an equivalent tobacco intake each day.
Pros			It offers critical illness cover and pre-existing diabetes and hypertension for an extra premium. This policy can also covers paralysis and blindness for an extra premium. Premium paid is eligible for tax benefit under section 80D of the Income Tax Act.
Cons			There are sub-limits on the policy benefits. Policyholder has to bear a pre-specified percentage of admissible claim each time medical services are availed.
Our View			Every senior citizen policy has co-payment clause attached to it. A policyholder cannot escape the co-payment condition while buying insurance at this age. Another useful feature is Critical illness cover which can be added onto this policy as the chances of contracting such illnesses are high at this age.
Eligibility
Entry Age (years)
Minimum		60
Maximum		80
Maximum Policy Renewal Age (years)		90
Coverage Type		Individual
Policy Term (years)		1
Sum Insured (Rs)		100000 and Rs 200000 for critical illness
No Claim Bonus		Insured person can either opt for a premium discount of 5% for each claim free year till it reaches 50% or select to increase the sum insured by the amount of cumulative bonus at the time of renewal
Pre Policy Medical Check Up		Not required if insured was covered under any health insurance for preceding three years. Required for others
Co Payment Clause		Insured has to compulsorily bear 10% of all admissible claims. Insured may also opt for 2% co-payment which will entitle him for a premium discount of 10%. An additional co-payment of 10% of admissible claim would be required in case claim arises out of a pre-existing disease
Customer Service
Address		Head Office: National Insurance Company Limited 3 Middleton Street Kolkata West Bengal Pincode : 700071
Mail to		website.administrator@nic.co.in
Call to		1800 419 4033

 

	Scope Of Cover
Cashless facility		available if treatment availed in a network hospital
Reimbursement facility		available if treatment availed in a non-network hospital
Pre and post hospitalisation		medical expenses incurred during 30 days prior to hospitalisation and 60 days after discharge from hospital will be covered
Section I
Hospitalisation expenses		covered
Room, Boarding expenses as provided by the Hospital/Nursing Home		covered upto 1% of Sum Insured per day. Cover increases to 2% if admitted to ICU. Overall limit is 25% of Sum Insured per illness
Surgeon, Anesthetist, Medical Practitioner, Consultants, Specialists Fees, Nursing Expenses		covered upto maximum of 25% of Sum Insured per illness
Anesthesia, Blood, Oxygen, OT charges, Surgical appliances (any disposable surgical consumables subject to upper limit of 7% of Sum Insured), Medicines, drugs, Diagnostic material & X-Ray, Dialysis, Chemotherapy, Radiotherapy, cost of pacemaker, artificial limbs, Cost of stent & implants		covered upto maximum of 50% of Sum Insured per illness
Domiciliary treatment		covered upto 20% of basic sum insured
Ambulance charges		covered upto Rs 1000 in a policy year
Cost of health check up		reimburses the amount upto maximum of 2% of average sum insured once after a block of 3 continuous claim free years
Pre-existing Diabetes and Hypertension		covered from inception of the policy
Section II
Critical Illnesses
Coronary Artery Surgery		covered
Cancer		covered
Renal Failure i.e. Failure for both kidneys		covered
Stroke		covered
Multiple Sclerosis		covered
Major Organ Transplants like kidney, Lung, Pancreas or Bone marrow		covered
Paralysis and blindness at extra premium		requires additional premium equal to 15% in each case or 25% in case of both covers together

 

	Exclusions and Waiting Period
Pre-existing illnesses		covered after 1 policy year from inception of the policy
No claim period		30 days for general cover and 90 days in case of Critical Illness from commencement of the policy
Waiting period		Certain disorders and surgeries such as cataract, hernia, Piles etc. will be covered after first policy year

Happy Investing!!

We can help. Call 0 94 8300 8300 (India)

Leave your comment with mail ID and we will answer them

OR

You can write back to us at PrajnaCapital [at] Gmail [dot] Com

---------------------------------------------

Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.

Invest Tax Saving Mutual Funds Online

Tax Saving Mutual Funds Online

These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)

Download Tax Saving Mutual Fund Application Forms from all AMCs

Download Tax Saving Mutual Fund Applications

These Application Forms can be used for buying regular mutual funds also

Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )

1. ICICI Prudential Tax Plan Invest Online
2. HDFC TaxSaver Invest Online
3. DSP BlackRock Tax Saver Fund Invest Online
4. Reliance Tax Saver (ELSS) Fund Invest Online
5. Birla Sun Life Tax Relief '96 Invest Online
6. IDFC Tax Advantage (ELSS) Fund Invest Online
7. SBI Magnum Tax Gain Scheme 1993 Invest Online
8. Sundaram Tax Saver Invest Online
9. Edelweiss ELSS Invest Online

------------------

Best Performing Mutual Funds

1. Largecap Funds Invest Online
1. DSP BlackRock Top 100 Fund
2. ICICI Prudential Focused Blue Chip Fund
3. Birla Sun Life Front Line Equity Fund
2. Large and Midcap Funds Invest Online

1. ICICI Prudential Dynamic Plan
2. HDFC Top 200 Fund
3. UTI Dividend Yield Fund
2. Mid and SmallCap Funds Invest Online

1. Reliance Equity Opportunities Fund
2. DSP BlackRock Small & Midcap Fund
3. Sundaram Select Midcap
4. IDFC Premier Equity Fund
3. Small and MicroCap Funds Invest Online

1. DSP BlackRock MicroCap Fund
4. Sector Funds Invest Online

1. Reliance Banking Fund
2. Reliance Banking Fund
5. Tax Saver MutualFunds Invest Online
1. ICICI Prudential Tax Plan
2. HDFC Taxsaver
3. DSP BlackRock Tax Saver Fund
4. Reliance Tax Saver (ELSS) Fund
6. Gold Mutual Funds Invest Online

1. Relaince Gold Savings Fund
2. ICICI Prudential Regular Gold Savings Fund
3. HDFC Gold Fund