TATA AIG
Elder Care
TATA AIG’s Elder Care Plan, as the name suggests, is targeted towards senior citizens. The policy has a 2-year waiting period for PEDs. However, as far as the pros of the plan go, this is where it ends. The policy has a mandatory copayment (20%), apart from a room rent restriction (up to a single private room), and no restoration perks or domiciliary coverage. Additionally, there is a disease-wise sub-limit on cataracts and joint replacement surgeries. Considering that the plan lacks or has a cap on most of the common ailments that affect senior citizens, this might not be a good option. We say, look around a bit more!
What's good here?
Short waiting period for Pre Existing Diseases
If you’re already dealing with diabetes, cardiovascular problems or any such illnesses, the insurer will cover all costs arising out of these pre-existing problems after just 2 years. It’s probably the best deal you can get to be honest.
If you’re already dealing with diabetes, cardiovascular problems or any such illnesses, the insurer will cover all costs arising out of these pre-existing problems after just 2 years. It’s probably the best deal you can get to be honest.
Pre & Post hospitalization expenses covered
No worries if the doctor had to run a host of diagnostic tests before or after hospitalizing you. The insurer has your back. They will cover this amount in full for a pretty reasonable duration - 30 days before you are hospitalized and 60 days after discharge. This includes the cost of medication by the way.
Covers Alternative Medicine
Think of getting Ayurvedic, Homeopathic or other alternative treatments to cure an illness? Your insurer will cover you fully, up to the sum insured.
Day Care treatments covered
If you’re hospitalized for less than 24 hours in lieu of a minor procedure, then the insurer will cover these costs too. Think dialysis, chemotherapy or minor surgeries.
What's bad here?
Has disease wise sub-limits
Your insurance cover won’t be fully available in case you are treated for Cataract, Joint Replacement Surgery and a few other diseases. Meaning the insurance company has a cap on the total amount they’ll pay out if you are treated for these specific illnesses.
Your insurance cover won’t be fully available in case you are treated for Cataract, Joint Replacement Surgery and a few other diseases. Meaning the insurance company has a cap on the total amount they’ll pay out if you are treated for these specific illnesses.
You will have to pay a portion of the bill
The policy will only cover 80% of the final bill. The rest is on you. They call this a co-payment.
No coverage if you are forced to hospitalize at home
The insurer will not cover the costs if you are forced to hospitalize at home due to a medical condition. In insurance lingo, they call this a policy with no domiciliary cover.
What's okay here?
You can pick a Single Private room but nothing fancy
You can share a room or you could have a single room for yourself. But if you are looking for anything slightly fancy, be ready to foot a part of the bill.
You can share a room or you could have a single room for yourself. But if you are looking for anything slightly fancy, be ready to foot a part of the bill.
Special Bonus for being healthy and not claiming insurance
Your sum insured increases by 10% each year, so long as you make no claims during this period. But before you get too ahead of yourself, do note that they’ll stop offering you the bonus when your sum insured increases by 100%. Also, the bonus amount will reduce at same rate each time you make a claim. But hey, it's still a bonus.
Free Health Checkups every 2 years
If you’re planning on getting a full body checkup every 2 years just to make sure you’re in fine working condition, the insurer will cover the costs.
What's lacking here?
No Restoration Benefit
Some policies will tell you - Even after you claim part of the cover on one occasion, you will have the full cover restored, if you are hospitalized another time during the same year. So if you have a family cover and multiple members of the family are hospitalized in the same year, this feature will come in handy. Unfortunately, this policy offers no such benefit.
Some policies will tell you - Even after you claim part of the cover on one occasion, you will have the full cover restored, if you are hospitalized another time during the same year. So if you have a family cover and multiple members of the family are hospitalized in the same year, this feature will come in handy. Unfortunately, this policy offers no such benefit.
Add-on
Co-payment Waiver
With this add-on, the insurance company will increase the premiums and waive off the mandatory 20% co-payment.
Frequently Asked Questions
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