The enormous rise in the incidence of non-communicable diseases has made standalone health insurance company Star Health to focus on ‘specialty cover’. The company has launched a specific product for heart patients and is looking at cancer care.
Star Health Cardiac Care is a product specifically meant for individuals who have undergone angioplasty and bypass surgery. The first of its kind product will cover all the ailments of the patients, including heart-related ones.
Coverage..!
Any person aged between 10 years and 65 years and who has undergone for the first time PTCA (Stenting) or / CABG (By-pass) between 6 months and 3 years prior to the date of policy purchase.
Section 1
In-patient hospitalisation expenses
* Covered where the hospitalisation is for a minimum of 24 hours.
* 101 Day-care treatments covered.
* Ambulance charges for emergency transportation to hospital as per specified limits.
* Pre-existing diseases covered after 48 months
* Lifelong renewals
Section 2:
* Cardiac ailments covered after 3 months itself
* Under Gold Plan, any cardiac related complications necessitating surgery / intervention and also cardiac medical management.
* Under Silver Plan, any cardiac related complications necessitating surgery / intervention only.
Pre - Medical screening..!
All persons proposing for this insurance should undergo pre-acceptance medical screening at the Company nominated centers. Cost of screening is currently borne by the company.
Relief under Sec 80D of IT Act.
Payment of premium by any mode other than cash for this insurance is eligible for relief under section 80D of the Income Tax Act 1961.
Mr. V. Jagannathan, Chairman and Managing Director, Star Health and Allied Insurance Co Ltd, said, '' About 5 lakh procedures of angioplasty, stenting and bypass surgeries are performed in India every year. The procedures leave a heavy financial burden on the patients and none of the existing health policies cover them for future ailments. The new product will cover over all heart-related an unrelated ailments of these patients This is the first such policy in India offering complete cover for heart patients who have already undergone a surgery"
Mr. S. Prakash, Executive Director, Star Health Insurance said, “A fair percentage of people who have had heart surgeries undergo repeat surgery for the same ailment. This certainly drains out the financial position of a normal family”
The product has 2 plans — a sum insured of Rs. 4 lakh (Gold plan) and Rs. 3 lakh (Silver plan) . the premium starts from Rs 18,000 per annum. The premium is about 20% higher than that of the usual health products of the company.
About Star Health and Allied Insurance Co Ltd..!
The Chennai-headquartered company, which currently operates from 720 branches across the country, hopes to earn about Rs. 50 crore this financial year from the new product, ‘Star Cardiac Care’.
In 2012-13, the company earned premium income of Rs. 900 crore, about 90% of which came from the retail market (individuals). Tata Capital Growth Fund recently took a 14% stake in the company with an investment of Rs. 120 crore.
Contact:
Star Health and Allied Insurance Company Limited
Corporate Office: No.1, New Tank Street,
Valluvar Kottam High Road, Nungambakkam, Chennai - 600034.
Ph: 044 - 2828 8800
The Manager - Customer Care,
Star Health & Allied Insurance Co. Ltd,
No.1, New Tank Street, Valluvarkottam High Road,
Nungambakkam, Chennai - 600 034
Email : support@starhealth.in
CALL at 24 x 7
1800-425-2255 / 1800-102-4477 (Toll Free)
044-28319100 (For Other Users).
Photo: Ms. V. Shanta, Chairman, Cancer Institute, Chennai, flanked by (from left) Mr. S. Prakash, Executive Director, Star Health and Allied Insurance Co Ltd, Mr. D. R. Kaarthikeyan, Director, and Mr. V. Jagannathan, CMD, at the launch of ‘Star Cardiac Care’ insurance policy in Chennai - Photo The Hindu by Mr. Bijoy Ghosh
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