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Star Health Insurance Benefits
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Being aware of Star health insurance benefits will surely help you maximise your coverage in exchange for an affordable premium. Star health insurance is among the leading policy choices in India within the health insurance sector. The main reason behind it is the various benefits of the policy. Apart from hassle-free claim settlement, the insurance company provides high-level medical care through its massive chain of partnered hospitals and tons of other perks that the policyholder can get. Let’s look at these Star health insurance benefits and discuss them below.
Star Health Insurance Benefits
Star health insurance is a perfect choice for coverage as it offers different types of policies that fit various customer-specific needs. If you are looking for health insurance coverage that comes with useful benefits as per your individual or family's need, Star health insurance is the one to be insured with.
Here are the important benefits of Star Health Insurance:
1. Annual Free Health Checkup
One of the essential pieces of advice that will help you prevent medical complications from becoming chronic in the future is to get a preventive health checkup. This helps you to be aware of health conditions at an early stage and help you get timely treatment towards your journey for betterment. As one of the included Star health insurance benefits, policyholders will be getting free health checkups for their claim-free year. Individuals can refer to their plan details for specifics. Overall, this stands out to be a great perk that will keep you secure during your term.
2. Extended Coverage via Cumulative Bonus
Star health insurance offers tons of policy choices that fit the specific needs of the individuals. It offers a great sum insured (SI) value, which goes up to INR 1 crore. You can also get certain levels of SI increment of your coverage plan without paying the extra money as a part of the cumulative bonus for every claim-free year. Check your Star health insurance policy document for additional details on cumulative bonus increment levels.
3. Quick and Easy Claim Settlement Procedure
With the Star health insurance policy, you will be getting the benefit of quick and efficient insurance claim settlement offered by the company. The entire claim settlement procedure is very easy to follow through, and in case of any claim-related queries, you can always contact the well-trained executives of Star health insurance, who will guide you through the process. The efficient claim settlement procedure, a key part of the Star health insurance plan benefits list, has helped Star health insurance maintain a high claim settlement ratio (CSR), which is the ratio of the complete number of insurance claims paid and the complete number of insurance claims filed within a specific duration. As per the claim settlement data for 2019-20, Star health insurance claims to have settled 99.9% of its insurance claims within 90 days, and about 0.06% of the claims were settled within the 3 to 6 months course.
4. No Mandatory Pre-Insurance Medical Screening for Most Policies
Generally, most health insurance providers require a pre-insurance medical screening of the insured to be done at the time of policy purchase. However, the case is different with Star health insurance, as most of the policies offered under this insurer don’t include mandatory pre-insurance medical screening obligation.
5. Wide Accessibility of Cashless Medical Treatment
Accumulation of funds to initiate medical procedures can bring inconvenience during the time of health-related complications. However, that is not an issue with the Star health insurance policy, which provides cashless medical treatment prospects under its massive partnered hospital range. This will let you focus on the important aspect, which is getting better, instead of worrying about the vast medical expenses that would wipe your savings. This is a primary Star health insurance benefit. As the policyholder, you can easily avail of high-quality, cashless treatment by getting treated at any of the network hospitals under this insurer. This is a crucial inclusion within the overall Star health insurance plan benefits list.
6. Tax Breaks
According to section 80D of the Income Tax Act of India, you are eligible for certain tax breaks for paying premiums on your Star health insurance policy. This applies to both individual and family plans, and you can get a tax benefit of up to INR 1 lakh annually. If you are below the age of 60 years, the tax deduction limit is set up to INR 25,000 for health insurance premiums that you pay for yourself, your husband or wife and your dependent children. In the case of senior citizens, the annual tax exemption upper limit is set to INR 50,000.
The Bottom Line
Dealing with the various expenses of medical treatment arising from hospitalisation and afterward is difficult to tackle financially. This is a time that especially calls for financial assistance, which you can get with Star health insurance. Apart from ensuring peace of mind, the various Star health insurance benefits, like cashless medical facilities, free annual health checkups, tax liftoffs, etc., encourage you to purchase the Star health insurance policy for its coverage under such circumstances.
Star Health Insurance Benefits FAQs
1. How does the Star health insurance policy benefit against health-related complications?
The Star health insurance policy offers financial assistance for yourself and your loved ones during medical crises should they arise. There are multiple benefits attached to the Star health insurance policy, including extended coverage of up to INR 1 Crore, nationwide availability of the cashless treatment facility, etc.
2. Does my Star health insurance policy cover diagnostic expenses for things like X-rays, blood tests, ultrasounds or MRIs?
Yes, one of the important benefits of the Star health insurance policy is that it covers expenses that are associated with diagnostic tests like MRI, X-ray, blood tests, etc., under the condition that they are associated with in-patient hospitalisation for more than 24 hours. The instance where these expenses will not be paid is when the diagnostic tests are made for evaluation purposes without being backed by the presence of an ailment.
3. Do Star health insurance benefits include coverage of pre and post-hospitalisation coverage?
Yes, the pre and post-hospitalisation medical expenses are eligible for coverage towards the ailment for certain days, included under the policy stipulation. This is one of the crucial benefits of the Star health insurance policy.
4. How accessible is the cashless treatment option as a part of Star health insurance benefits?
As one of the important benefits of the Star health insurance policy, individuals can get wide accessibility to cashless medical treatment through the massive chain of 12,000+ network hospitals.
5. Is a pre-medical checkup mandatory under Star health insurance?
One of the key benefits of Star health insurance policy is the no pre-insurance medical screening requirement for the policyholder. However, this is plan-specific, and you can refer to the respective policy for more information.
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