New India Assurance

New India Assurance

Senior Citizen Mediclaim

If you're 60+ and you're actively considering New India's Senior Citizen Mediclaim policy, do note that you won't get a lot of protection with a 1.5 lakh cover. Besides, the policy won't pay out the full cover in many cases. So if you are looking for comprehensive coverage this policy simply doesn't cut it.

What's good here?

co_pay

You’ll never have to split the bill

The insurer will bear the entire cost of treatment (up to the sum insured). You won’t have to pay a single penny. Meaning this policy has no co-payment.

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ped

Short waiting period for Pre Existing Diseases

If you’re already dealing with diabetes, cardiovascular problems or any such illnesses, the insurer will cover all costs arising out of these pre-existing problems after just 1.5 years. It’s probably the best deal you can get to be honest.

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What's bad here?

special mention
warning
Be aware of

Restrictions on the rooms you can pick and much more

Your insurer won’t let you stay in a room whose rent exceeds 1% of the sum insured. If it’s an ICU they’ll bump it to 2% of the sum insured. And in the event you breach these limits, then you’ll have to pay a lot more - Read more here

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disease_sublimit

Has disease wise sub-limits

Your insurance cover won’t be fully available in case you are treated for Appendicectomy, Angiography, Tonsillectomy, Hysterectomy and a few other diseases. Meaning the insurance company has a cap on the total amount they’ll pay out if you are treated for these specific illnesses.

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domiciallary

No coverage if you are forced to hospitalize at home

The insurer will not cover the costs if you are forced to hospitalize at home due to a medical condition. In insurance lingo, they call this a policy with no domiciliary cover.

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day_care

No coverage for Day Care treatments

If you’re hospitalized for less than 24 hours in lieu of a minor procedure, then the insurer will not cover these costs. Think dialysis, chemotherapy or minor surgeries.

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What's okay here?

pre_post

Pre & Post hospitalization expenses covered up to a certain limit

No worries if the doctor had to run a host of diagnostic tests before or after hospitalizing you. The insurer has your back. They will cover this amount upto 10% of sum insured for about 30 days before you are hospitalized and 60 days after discharge. This includes the cost of medication by the way.

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ncb

Underwhelming bonus feature

Your sum insured increases by 5% each year, so long as you make no claims during this period. But before you get too ahead of yourself, do note that they’ll stop offering you the bonus when your sum insured increases by 30%. And while this is a decent deal, most insurance companies offer a much higher bonus. But hey, it's still a bonus.

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ayush

Some Cover for Alternative Medicine

Think of getting Ayurvedic, Homeopathic or other alternative treatments to cure an illness? Your insurer will pay up to 25% of the cover in case you’re availing these treatments.

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health_checkup

Free Health Checkups

You'll get a free health checkup if you go 4 years without making a claim (subject to a cap of Rs. 5,000 or 1% of the sum insured, whichever is lower). It's not very useful.

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What's lacking here?

restoration

No Restoration Benefit

Some policies will tell you - Even after you claim part of the cover on one occasion, you will have the full cover restored, if you are hospitalized another time during the same year. So if you have a family cover and multiple members of the family are hospitalized in the same year, this feature will come in handy. Unfortunately, this policy offers no such benefit.

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