Still Confused Which Health Insurance Plan to Go For?

I know your financial advisor would have suggested you buy a health insurance plan for sure. Many people, when they start their research, they become very confused because they see a sea of options available. Each company is trying their best to woo the customers by offering competitive features and splurging millions of bucks on advertisements. Now as a layman if you and I set out to buy a plan, we often face a problem of plenty to choose from.

As of now, there are 27 insurance companies which provide health insurance in India, out of which 5 are stand-alone health insurance companies.

Stand-alone health insurance companies are those companies which exclusively provide health insurance products only. Out of these 5 stand-alone health insurance companies we have star health and allied insurance company. It is the first stand-alone health insurance company.

Established in 2006, Star Health Insurance provides beneficial plans for health insurance including overseas mediclaim policies as well as covering personal accidents.

Star Health and Allied Insurance Company is a joint venture between M/s ICICI Ventures Funds Management, M/s Oman Insurance Company (UAE), M/s Tata Capital Growth Fund, M/s Alpha TC Holdings Pvt. Ltd and M/s Sequoia Capital.

Reasons why Star Health Insurance stands out against competition:

  1. They have an in-house settlement of claims department which settles claims without the involvement of any third-party.
  2. The company regards customer convenience to be very high and thus ensures they get the most hassle-free, fast and convenient settlement of their claims.
  3. Company has a well-established network boasting of over 7,000 hospitals wherein the patients can avail cashless claim settlement.
  4. Its presence is widely spread throughout the country with over 6,000 branch offices.
  5. Star health insurance plans offer the feature of lifetime renewability, thus you can expect a health cover till the end of your days, upon your timely renewal.

Additional Features

  1. Pre-existing diseases: Pre-existing diseases are also covered under the policy, after a cooling period of 4 years.
  2. Co-payment: In general cases, there is no co-payment; however, after the age of 61, 20% co-payment by the patient is applicable.
  3. Room rent: there is a capping of 2% of the total sum insured up to the maximum of INR 4000 a day on room rent.
  4. No TPA Required: No TPA or third party administrator is required as they have an in-house claim settlement department.
  5. Pre-hospitalization bills: All medical bills up to 30days prior to hospitalization are covered under the policy.
  6. Post-Hospitalization bills: All medical bills up to 60 days after hospitalization are covered under the policy.

List of various Health Insurance products provided by the company:

  1. Star Family Health Optima Insurance Policy.
  2. Star Comprehensive Insurance Policy.
  3. Star Senior Citizens Red Carpet Insurance Policy.
  4. Star Super Surplus Insurance Policy.
  5. Star MediClassic Insurance Policy (Individual)
  6. Star Diabetes Safe Insurance Policy
  7. Star Health Gain Insurance Policy
  8. Star Net Plus Insurance Policy
  9. Star Cardiac Care Insurance Policy
  10. Star Cancer Care Gold
  11. Star Family Delite Insurance Policy
  12. Star Criticare Plus Insurance Policy
  13. Star Care Micro Insurance Policy
  14. Star Special Care Insurance Policy.

Why Choose Star Health Insurance Company

Whenever you are searching a health insurance plan, Star Insurance can be one of your priority companies to look at because of the abovementioned benefits and features.

They offer a wide range of insurance products that suit different people belonging to different ages and sects of society.

These plans are suitable for individuals, families, senior citizens, children, and corporates also.

The core company of Star Health Insurance is very innovative and is engaged in continuous research to devise new plans that would cater to the specific needs of a customer base.

Since they are holding operations throughout the country, which is quite diverse, with varied regions and people, hence different regions have different demographic features and are exposed to certain elements and ailments which are more prone in that specific area.

Hence, the research team of the company tries to formulate and plan out products that can cater to the different needs of the people belonging to diverse regions and ethnicities.

Conclusion

Star Health Insurance is a very reputed brand and a growing organization which has a very high settlement ratio. As a financial advisor, I would recommend the products and plans of Star Health and Allied Insurance Company. The top-management of the company is dedicated and sincere towards improving health insurance sector in India. The premium of their products is very pocket-friendly for the consumer and they provide unique features that very beneficial for the buyers.

Act now; Don’t delay! Having a health insurance plan is very important as you never know when you or your beloved family members may require hospitalization. As it is we are living in an atmosphere full of pollution and stress because of which so many diseases are lurking around.

These diseases can attack you anytime so be financially prepared by fortifying yourself with a health insurance cover and Star Health Insurance cover would be a good choice to go for.

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