Star Mediclassic Health Insurance Plan

Star Mediclassic Health Insurance - BimaBandhu

Star Mediclassic Insurance Plan stands as a robust shield against the financial implications of illnesses, diseases, and accidental injuries. The expansive network of Star Health Insurance boasts over 9900 hospitals where policyholders can seamlessly access cashless treatment. This enhances convenience and ensures timely medical interventions without the burden of upfront payments.

Also, the policyholder experiences a hassle-free journey as all health insurance claims are settled directly by Star Health and Allied Insurance Company, eliminating the need for intermediaries such as Third-Party Administrators (TPA). This direct settlement approach adds a layer of efficiency, making the claims process smoother and more expeditious.

In this guide, we will dig deeper into the layers of coverage and benefits of Star Mediclassic Health Insurance plan that make it a formidable choice for Indians.

Features and Benefits of Star Mediclassic Insurance Plan

1. Wider Sum Insured Options

Star Mediclassic plan offers a flexible range of sum insured options with coverage spanning from Rs 1.5 Lakh to Rs 15 Lakh (extended range under the gold plan ranging from Rs 3-25 Lakh).

2. Pre-policy Medical Screening

The policy requires a mandatory pre-medical examination for applicants aged 50 years and above. This ensures a comprehensive understanding of the individual’s health status, contributing to informed and tailored coverage.

3. Day Care Procedures

Star Mediclassic Health Insurance goes beyond conventional coverage and covers all daycare procedures for medical treatments that no longer require prolonged hospital stays.

4. Policy Term Options

Policyholders can choose the tenure that aligns with their preferences and requirements, with options available for 1, 2, or 3 years. 

5. Installment Facility

Recognizing the diverse financial needs of policyholders, Star Mediclassic extends an installment payment facility. It allows payment of premiums on a monthly, quarterly, or half-yearly basis. Alternatively, the policyholder has the option to make a lump-sum payment covering 1, 2, or 3 years for the entire policy term.

Inclusions of Star Mediclassic Insurance Plan

  • Hospital room, boarding, and nursing expenses up to 2% of the sum insured, with a maximum compensation of Rs. 5000
  • Emergency ambulance charges catering to emergency transportation needs (up to a maximum of Rs. 750 for each hospitalization, with a cumulative cap of Rs. 1500 during the policy term)
  • Pre- and post-hospitalization expenses to extend its coverage to expenses occurring up to 30 days before admission and 60 days post-hospitalization
  • Health check-up costs for coverage amounts exceeding Rs. 2 Lakh (once every four years)
  • Cataract surgery coverage as per specified limits
  • Psychiatric and psychosomatic disorders coverage (requiring a minimum hospitalization period of 5 days)
  • Cumulative bonus ranging from 5% to 25% of the sum insured
  • Automatic restoration of sum insured by 200% during the policy term
  • Alternative medicine with a cover of up to 25% of the sum insured, capped at Rs. 25000 during the policy term
  • Extra benefits and optional covers under the Gold plan

For detailed inclusions and exclusions of Star Health Insurance plans, visit their official website.

Read More: All About Section 80D of the Income Tax Act

Eligibility Criteria for Star Mediclassic Health Insurance Policy

  • Minimum Age: Starting from individuals as young as 5 months (as early as 16 days after birth for the Gold plan)
  • Maximum Age: 65 years

Adhering to these age criteria ensures that individuals can secure the benefits of Star Health Insurance at different life stages. The flexibility in age eligibility, especially with the inclusion of infants in the policy coverage, reflects the plan’s commitment to catering to a diverse range of policyholders.

Cancellation Procedure for Star Mediclassic Health Insurance Policy

Policyholders seeking cancellation are required to provide a written notice at least 15 days in advance. The following table covers the percentage of premium retained by the insurer as per different risk period:

Period on Risk Premium Retained by Insurer
1 month 22.5% of the annual premium
1 month to 3 months 37.5% of the annual premium
3 months to 6 months 57.5% of the annual premium
6 months to 9 months 80% of the annual premium
Exceeding 9 months Full annual premium

As illustrated, the longer the policy has been in force, the higher the percentage of the annual premium retained by the insurer.


Why should I go for Star Mediclassic Health Insurance?

Star Mediclassic Health Insurance policy has you covered with benefits like taking care of expenses before and after your hospital stay, covering quick treatments, ambulance charges, and inpatient hospitalization. The policy also handles modern treatments, restores your coverage amount, looks after home treatments, and supports organ donor expenses. 

Are there tax benefits on the premium paid for Star Mediclassic Health Insurance?

Certainly. Payments made through non-cash modes for this insurance qualify for tax relief under Section 80D of the Income Tax Act. 

Is there a grace period for renewing Star Mediclassic health insurance policy?

Star health insurance, including the Mediclassic plan, provides a 30-day grace period from the policy expiry date. This ensures flexibility for policyholders to renew and maintain continuous coverage.

Is there a free look period for canceling my Star Mediclassic health insurance policy?

Star health insurance, including the Mediclassic plan, offers a free look period. During this time, policyholders can review the policy terms and conditions. They can then make an informed decision about whether to continue with the policy or terminate it, providing added flexibility and assurance.

What is the cumulative bonus for Star Mediclassic Health Insurance?

Star Health Insurance offers a cumulative bonus of up to 100% of the sum insured. A 25% bonus is granted for every claim-free year, potentially reaching the maximum cumulative bonus based on the type of insurance policy and the duration of the policy term. This feature provides added value and rewards for policyholders with a history of responsible and claim-free coverage.

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The information shared here about insurers, their products, services, or offerings is intended solely for informational purposes. It may be subject to updates without prior notice and should not be construed as professional advice or a recommendation to acquire any specific insurance product or service. Although we strive to maintain the accuracy and currency of the information provided, we do not assure or warrant its completeness, reliability, suitability, or availability. Any reliance you place on such information is entirely at your own discretion and risk.