Star Health unveils Star Comprehensive Health policy

MUMBAI: Standalone health insurer Star Health & Allied Insurance has recently announced the launch of a new health insurance product - Star Comprehensive.

The product segregates the benefits on offer into five parts. The first one focusses on in-patient hospitalisation where expenses related to 24-hour hospitalisation, 101 day-care procedures, ambulance charges and pre- and post hospitalisation are covered.

Under section 2, delivery - caesarean section as well as normal - expenses are covered, apart from those pertaining to the new born. Third section is concerned with out-patient dental and opthalmic treatment expenses, which will be paid out once in a block of three years. Hospital cash benefits will be payable under section 4, for up to seven days per claim (capped at 120 days in a year).

Cost of health check-up is also borne by the policy once every three claim-free years. In addition, the policy will, subject to conditions, offer cover to HIV positive individuals, provided the CD 4 count at the time of entry is above 350.

A key feature in the policy is the replenishment of sum insured (hospitalisation and day-care) if it has been exhausted in a year. However, this facility will be extended only if the subsequent claims are not related to the initial claim.

The product also contains a claim loading clause that will kick in if the claim ratio exceeds 100% in two consecutive years. Depending your claim ratio, premiums could rise by 20-50% in the subsequent years. Those over the age of 60 will also have to arrange for 10% of the claim amount from their own resources before the company chips in with the balance.

Upside: The sum insured restoration facility is a key benefit offered under this plan. It promises to reinstate the in-patient hospitalisation cover amount if the subsequent claim is for an ailment unrelated to the earlier claim.

Downside: At a time when many new-age health insurers are doing away with the claim loading clause, this product continues with the practice of hiking premiums. In effect, the clause penalises policyholders for making a claim.