Add-ons or Riders are a form of extra coverage available to the insured customer on payment of additional premiums which are to opted at the time of policy purchase. There are different add-ons with Star Health insurance companies to cover your specific needs at different points in time.
There are certain add-ons which are available in the Star health insurance policies on payment of extra premium. They are:
Buy Back Pre-Existing Diseases:
Under this add-on or Rider the pre existing disease waiting period reduces from 36 months to 12 months. The pre existing disease waiting period is the time during which the insurance coverage would not be applicable for the diseases or illnesses or conditions that exist prior to the inception of the policy. If the customer purchases this add-on or rider the pre existing disease waiting period would be reduced from 3 years to 1 year and after the completion of 1 year policy period the customer can avail the benefits of pre existing disease cover from the next year policy period. The add-on is to be purchased at the time of taking the policy and the waiting period is one year from the purchase of first policy date.
Hospital Daily Cash:
Star Health Insurance Company will pay cash benefit of Rs.1000 per day for each completed day of hospitalization subject to a maximum of 7 days per hospitalization and 14 days per policy period. For the purpose of this optional cover, the days of admission and discharge will not be taken into account. The hospital daily cash benefit is available on payment of additional premium by the insured customer at the time of policy purchase. The hospital cash benefit option enables the customer to get his/her petty expenses covered during their stay in the hospital. The hospital daily cash should be reimbursed from the insurance company and doesn’t require any bills to be submitted for the reimbursement to happen. It is important to note that the hospital daily cash benefit is payable only in case of in-patient treatment and not for other treatments.
Patient Star:
Star Health Insurance Company will pay the cost of engaging an attendant at the residence of the insured person immediately after discharge from the hospital provided the same is recommended by the physician. Such expenses are payable up to Rs.400 per day for each completed day in the hospital for 5 days per occurrence and a total of 14 days during the policy period. 1 day deductible will be applied for this add-on at the time of claim settlement. This benefit is applicable only for insured persons above 60 years of age and becomes payable only upon a valid claim for hospitalization. The add-on should be purchased at the time of policy start or renewal since the midterm addition of add-on would not be possible.
Maternity Cover:
Star Health Insurance Company pays the Maternity related claim expenses as an add-on to the existing health insurance plan. The maternity cover includes maternity-related expenses such as Child delivery, Abortion, or Miscarriage. In addition to the maternity expenses, the Star health insurance policy also covers the newborn baby expenses. Few of the health insurance plans offer the maternity cover inbuilt while the other plans offer maternity as a rider on payment of additional premium. The maternity add-on has to be purchased at the time of policy issuance or at the time of renewal as the midterm addition is not possible.
Calculate Star Health Insurance Premium Chart
Star Health insurance premium chart can be found in the brochures of the Star Health Insurance Company website. All the health insurance plans available are pre underwritten products where the premium is calculated for the sum insured mentioned. The premium is calculated basis the age of the insured and the sum insured, the premium would increase if the add-ons opt under the health insurance plan.
The premium chart of Star Health Insurance is determined based on the below factors.
Sum Insured:
Sum insured is the maximum liability of the insurance company at the time of claim. The maximum claim that would be settled by the Star Health insurance company in the event of a claim would not exceed the sum insured mentioned under the policy. The Star Health Insurance premium depends on the sum insured option selected by the customer. The higher the sum insured, the higher would be the premium to be paid by the customer. There would be no provision for the midterm increase of sum insured and any increase in sum insured would be done at the time of renewal. Hence it is important for the customer to decide on the sum insured before purchasing the health insurance plan.
Age:
Star Health insurance premium depends on the age of the insured customers in the health insurance plan. The premium would be calculated on the age of the elder person in the health insurance policy. Higher the age of the insured, higher would be the premium. The reason for this is the increase in mortality ratio and the increase in the chance of getting sick as age increases. Aging causes different illnesses such as Diabetes, Blood pressure, etc which increases the chance of hospitalization and thereby the insurance companies charge a heavy premium for higher age insured. Hence it is advisable for the customers to take the health insurance plans at a very young age to avoid paying a hefty premium at old age.
Add-ons:
Star Health Insurance Company offers certain add-ons which can be purchased on payment of extra premium. These add-ons provide extra coverage to the insured at the time of claim settlement. There are certain add-ons such as Buyback pre-existing disease waiting period, hospital daily cash, etc which are available on payment of additional premium to the insurance company. The add-ons are given at the time of purchasing the health insurance plan. Midterm inclusion of add-ons is not permitted by the insurance company. The more the number of add-ons, the higher would be the premium to be paid by the customer.
Health Conditions:
Star Health insurance company premium rates depend on the health conditions of the applicant. If the applicant is having any adverse health condition, the premium charged by the insurance company would be higher as the chance of a claim is high in this case. The applicant may even be asked to undergo a pre-medical test before the policy issuance to understand the level of risk to be accepted by the insurance company. Adverse health condition leads to adverse claims for the insurance companies.
Star Health Insurance Network Hospital List
Star Health Insurance has tied up with more than 11000 hospitals across India to provide cashless claim settlement facilities to their customers. Cashless claim settlement facility can be availed only from the list of network hospitals and treatment taken at a non network hospital can be claimed through reimbursement mode.
The list of network hospitals or tie-up hospitals can be found from the below link. Almost all the major hospitals are tied up with the Star Health insurance company and are a part of the network list. There are many diagnostic centers that are tied up with Star Health Insurance Company to provide health check-up facilities to their customers.
In case of planned treatment the insured customer can inform 24 hours prior to the date of treatment to the Star Health Insurance Company to process the cashless claim settlement along with the details of treating hospital. In case of emergency, the cashless approval would be given within 2 hours of joining the hospital and the treatment would be carried out by the hospital. In case of cashless claim settlement at the Star Health insurance network hospital, the claim amount would be paid to the hospital directly.
The main incentive of the Star Health insurance plans is the Cashless claim settlement which is offered by the insurance company. A cashless claim settlement facility provides the customers with peace of mind. All the insured customer needs to do is to carry the E-card or the policy copy at the time of hospitalization. If the treatment amount exceeds the sum insured mentioned in the policy copy, then the remaining balance has to be paid by the insured customer. The maximum liability of the insurance company would be the sum insured mentioned in the policy document.