All You Need To Know About Varishta Bima Policy Offered By Future Generali India

Shielding the health of all your family members is essential due to the changing lifestyles and the rapid growth in the inflation of healthcare costs. There are different types of health insurance plans like individual plans, senior citizen plans, family floater plans, maternity benefit plans, etc. which are designed to meet the needs of different groups of people in the society. When investing in a health insurance plan, you must make sure that the plan is comprehensive, sufficient, and affordable. You can cover yourself, your spouse, children, and dependent parents under a family floater health insurance plan. 

Sometimes the coverage of the family floater health insurance plans is insufficient to meet the requirements of the senior citizens as they are more vulnerable to contract a disease and get hospitalized. The cost of treatments for pre-existing diseases and critical disorders is much higher and it can possibly drain your savings, thus leaving nothing for your future. Therefore, you can buy a separate senior citizen health insurance plan to cover the requirements of your parents under a single cover at a negotiable price. 

About Varishta Bima Policy

Varishta Bima Policy is a senior citizen plan offered by the Future Generali Health Insurance company. It covers the individual of 60 years and above, along with their spouse. It comes with a comprehensive coverage which can be availed on an individual or family floater basis, where under the family cover you and your spouse above the age of 60 years can be included. It provides an assured sum of money from Rs. 2 Lakhs to Rs. 10 Lakhs with a policy tenure ranging from 1 to 3 years. The premium of this plan is affordable and it comes with sub-limits on certain treatments. The payments of the premium of this cover can be done in terms like annually, semi-annually, quarterly, and monthly, depending on your financial budget. 

Essential features of Varishta Bima Policy 

Following is the list of some of the prominent features of the Varishta Bima Policy by the Future Generali Health Insurance company: 

• Family Discounts

Family discounts are offered on individual sum assured options when two or more family members are insured under the Varishta Bima Policy. 

• Long Term Discount 

This is the discount of 10% which is applicable on the upfront premium payments for long term policy. 

• Co-Payment

Co-payment is applicable on all the claims of the admissible hospital bills, except the claims related to pre and post hospitalization.

• Tax Benefits

All the policyholders who are also the taxpayer get a tax deduction benefit on their premium payments under Section 80D of the Income Tax Act.

• Sub-Limits

These are applicable on certain procedures under this plan. Co-payments will not be applicable in cases where there is a claim for these certain procedures.  

• Instalment Facility 

Instalment premium payment facility is available on quarterly, monthly, and half-yearly plans. Depending on the frequency of instalment, loadings will be applied on standard premiums. 

Inclusions of the Varishta Bima Policy 

Let us look at some of the common inclusions in the Varishta Bima Policy for senior citizens: 

• Up to the sum assured, the inpatient hospitalization costs are also covered. 
• Starting from the second policy year, free healthcare checkups are also offered to all the policyholders insured under this plan. 
• Ambulance charges up to Rs. 1000 are looked after by the insurer. 
• Daycare treatments up to the sum assured under the policy are included in this cover. 
• 60 days of pre-hospitalization expenses and 90 days of post-hospitalization expenses are covered under this plan. 

Conclusion 

You can consider the above-mentioned features about Varishta Bima Policy and do your own research too, before investing in this health insurance policy. You must make sure that it meets your requirements and demands. Read the fine print of your purchased policy to avoid any confusion at the time of claim settlement. 

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Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.