Star Medi Classic

Objective

An online health insurance policy which aims to protect insured member(s) from expenses incurred on treatment taken as an inpatient along with several other benefits available for extra price.

Suited for

Anyone between 5 and 80 years (65 years for a Rs 10 lakh cover) is eligible to buy this policy on individual or floater basis.

What does it do?

This policy can be bought for an individual, a family floater or a group. Group policy can avail a discount on premium if bought for more than 500 persons. It provides for hospitalisation expenses with sub-limits on room rent and boarding, pre and post hospitalisation expenses and ambulance charges.
Policyholder can widen the cover by opting for other benefits by paying extra premium. Optional benefits include daily cash benefit, patient care for persons above 65 years and newborn baby cover. This policy also covers non-allopathic treatment.

Pros

It covers non-allopathic treatment as well.
The policy can provide cover up to Rs 10 lakh.
This policy allows a 5 per cent discount if it’s purchased online.
It provides a no-claim discount for every claim-free year.
Group policies avail a discount on premium.
Premium paid towards this policy can be availed as deduction under section 80D of IT Act.

Cons

Room rent and boarding charges are capped.
Family floater policy is available for a sum insured up to Rs 3 lakh only.

Our View

This is a good policy that also covers non-allopathic treatment. Policyholders can customise the policy by adding supplementary benefits. For instance, patient care benefit pays a daily cash amount for nursing charges, which is useful.The only drawback is the capping on room rent and boarding. Even though it does not offer a lifelong policy renewal, 80 years is a long enough tenure.