Medi Classic does a pretty decent job for the most part. And it's not too expensive. However, the policy does have restrictions on the kind of room you can pick and it makes you wait 4 years before covering pre-existing diseases (like diabetes). So you could look at other options within the Star stable. Maybe YoungStar?
What's good here?
You most likely don't have to split the bill
If you bought this policy after you turned 61, you have to pay 10% of the bill every time you make a claim. Otherwise, you are good to go. The insurer will pay all costs up to the sum insured.
You always have full cover irrespective of the disease
No funny business here. If your insurer hasn’t explicitly stated they won’t cover a certain illness, you can claim the full amount up to the sum insured, irrespective of the disease you’re dealing with. Meaning this policy doesn't impose the dreaded disease wise sub-limits.
Good Restoration Benefit
After you claim your full cover, the insurer will restore it and double your cover for the same year. However, you can only claim it if you are treated for a different complication.
Day Care treatments covered
If you’re hospitalized for less than 24 hours in lieu of a minor procedure, then the insurer will cover these costs too. Think dialysis, chemotherapy or minor surgeries.
What's bad here?
Restrictions on the rooms you can pick and much more
Your insurer won’t let you stay in a room whose rent exceeds ₹5,000. But in the event, you breach this limit, get ready to pay a lot more. - Read more here
Long 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 only after 4 long years. It could be much shorter you know? Like 2 years perhaps!
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.
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 ₹5,000 for about 30 days before you are hospitalized and 60 days after discharge. This includes the cost of medication by the way.
Some Cover for Alternative Medicine
Think of getting Ayurvedic, Homeopathic or other alternative treatments to cure an illness? Your insurer will pay up to ₹25,000 of the cover in case you’re availing these treatments.
What's lacking here?
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 25%. And while this is a decent deal, most insurance companies offer a much higher bonus. But hey, it's still a bonus.
No free Health Checkups unless you wait 4 years
If you’re planning on getting a full body checkup just to make sure you’re in fine working condition, the insurer will cover the cost once in 4 years. However, just so you know, most insurance policies offer free yearly health checkups.
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