Care Freedom Vs Care Senior Health Insurance Plan

Care Freedom Vs Care Senior Health Insurance Plan

Since COVID-19 hit, we all started to understand the importance of health insurance in our lives. It gets substantially important when we have senior citizens at home or someone prone to receiving health ailments. In this regard, many insurance companies offer specialized plans designed to cater to the unique requirements of seniors. Two such plans that are often considered are Care Senior (Care Senior Plan) and Care Freedom Health Insurance Policy (Care Freedom). These plans aim to provide comprehensive coverage and support to seniors and adults, allowing them to access the healthcare services they need without compromising their financial stability.

If you are confused between the two, it’s time to understand both in detail to help you out in making a wise decision.

Comparison Between Care Senior and Care Freedom Health Insurance Policy

Let’s quickly understand the prime differences between Care Senior and Care Freedom Health Insurance Policy based on the following parameters.

ParametersCare SeniorCare Freedom 
Minimum & Maximum Entry Age

Minimum- 61 Years

Maximum- Lifelong

Minimum:

For Sum Insured (SI) 3 lacs and 5 lacs

Adult: 18 years

Child: 90 days

For SI 7 Lacs and 10 Lacs

Individual: 46 years

Floater: Eldest Insured Person – 46 years

Other Adult: 18 years Child: 90 Days

Maximum:

Adult- Lifelong

Child- 24 Years

Policy Term1/2/3 Years1/2/3 Years
RenewabilityLifelongLifelong (The policy can be renewed under the then prevailing Health Insurance Product or its nearest substitute approved by IRDAI)
Daycare ProceduresUp to SI, 541 ProceduresUp to Sum Insured, more than 170
Sum InsuredUp to Rs. 10 LacsUp to Rs. 10 Lakhs
Co-Payment

If your age is 61 years or more, Care will provide you an option to choose for co-payment of 20% per claim.

  • Continuing the policy with a 20% co-payment
  • Continuing the policy without a 20% co-payment by opting for a waiver benefit.
  • 20% co-payment applicable till 70 years.
  • 30% co-payment applicable after 71 years of age.
  • Policy wherein the eldest members’ age is less than 71 years at entry can an extra premium and reduce co-payment to 20% after attaining 71 years and above age.
Room Rent LimitSingle Private AC Room (Max. up to 1% of SI per day).

For 3 Lacs SI:

Twin sharing room subject to max. of 1% of SI per day.

For 5 Lacs SI:

Twin Sharing Room

For 7 Lacs/10 Lacs

Single Premium Room

Annual Health check-upYes, all membersYes, annually.
Tax BenefitsSave tax on a premium of up to Rs. 75,000 under section 80D of the IT Act 1961.Payment of premium by any mode other than cash for this insurance is eligible for relief under Section 80D of the Income Tax Act 1961.
Pre and Post Hospitalisation ExpensesUp to SI, 30 days/60 days

For SI of Rs. 3 Lacs

Up to 7.5% of payable hospitalization expenses.

For SI of 5 Lacs, 7 Lacs, & 10 Lacs

Up to 10% of payable hospitalization expenses.

ICU Charges2% SI per day

For SI of Rs. 3 lacs

Up to 2% of SI per day

For SI of Rs. 5 Lacs, 7 Lacs/10 Lacs

No Limit

AmbulanceCoveredUp to Rs. 1000 per hospitalization.
Waiting Period30 days for any illness except injury

30 days for any illness

For Named ailments and pre-existing diseases

2 years of continued coverage

What is Care Senior?

Care Senior plan has been specifically crafted to provide comprehensive coverage for individuals aged 60 and above. It offers the flexibility to select a sum insured that aligns with your healthcare requirements, ensuring that it doesn’t strain your finances, especially during retirement. The plan presents various sum insured options – Rs. 3 Lakh, Rs. 5 Lakh, Rs. 7 Lakh, and Rs. 10 Lakh, allowing interested individuals to choose according to their preferences.

While the primary focus of the plan is on individuals above 60 years of age, there is no upper age limit, making it inclusive for all. Additionally, the plan extends the option to include family members. Noteworthy features of this plan encompass annual health check-ups, cashless hospitalization coverage, pre-existing disease coverage, and an extensive list of 541+ daycare treatments.

Furthermore, the plan comes with multiple add-ons that allow you to extend the coverage of your policy for maximum advantage. Some of the add-ons include a reduction in the PED Wait Period, No Claim Bonus Super, OPD Care, Care Shield, and more.

What are the Important Features and Benefits of Care Senior?

The following are the key features and benefits of the Care Senior Plan. 

  • Pre & Post hospitalization expenses covered

Rest assured, whether diagnostic tests are conducted before or after hospitalization, the insurer has your expenses covered. They offer full coverage for this expenditure for a reasonable duration – encompassing 30 days preceding hospitalization and 60 days following discharge. This coverage extends to include medication costs as well.

  • Lower co-payment terms

The co-payment clause involves a predetermined percentage of expenses that the policyholder must bear when filing an insurance claim. Opting for such a policy with a lower co-payment percentage can effectively minimize the out-of-pocket expenses you need to cover. This choice serves to safeguard your hard-earned savings, offering financial relief and ensuring that a more significant portion of the expenses is shouldered by the insurance coverage.

  • Preventive health check-up

Given that age-related ailments become more common with advancing years, early detection is crucial for prompt intervention. The inclusion of a preventive check-up feature in senior citizens’ coverage plays a vital role in diagnosing such ailments at an early stage. Moreover, it’s noteworthy that the results of these preventive health check-ups can influence the premium of insurance coverage. By facilitating early detection and proactive healthcare, this feature not only aids in maintaining well-being but also contributes to potential cost savings in the long run.

  • Day-Care Treatment

This insurance plan provides coverage for a defined set of medical procedures that necessitate hospital treatment but entail stays lasting less than 24 hours. Encompassing a comprehensive list of 541 procedures, this coverage ensures that individuals undergoing these specific treatments receive financial assistance for their healthcare needs.

  • Alternative Treatment

This insurance plan extends coverage to AYUSH (Ayurveda, Yoga and Naturopathy, Unani, Siddha, and Homeopathy) treatments, with the reimbursement amount contingent on predetermined limits linked to the chosen Sum Insured. Policyholders enjoy the flexibility to select either Rs 15,000 or Rs 20,000 as the maximum reimbursement amount for AYUSH treatments, aligning with their chosen coverage level.

  • Higher Sum Insured

Policyholders benefit from a spectrum of choices with this plan, as they can select an insured sum ranging from INR 3 lakh to INR 10 lakh. This expansive range of coverage options demonstrates an insightful acknowledgment of the diverse healthcare needs that may arise with the aging process.

  • Tax Benefits

This insurance plan provides a valuable tax benefit to policyholders, enabling them to claim deductions on the premium paid annually. According to Section 80D of the Income Tax Act, individuals can avail themselves of tax benefits of up to INR 1 lakh for the premiums paid towards health insurance.

  • Strong Hospital Networks

Care Health Insurance takes pride in its expansive network of more than 22,900 healthcare providers across the nation, ensuring senior citizens have convenient access to a wide range of healthcare facilities and treatments. This extensive network is designed to facilitate policyholders in receiving medical care at their preferred locations, offering flexibility and ease of access to necessary healthcare services.

What is Care Freedom Health Insurance Policy?

Care Freedom Health Insurance Policy by Care Health Insurance Company is crafted to provide individuals the freedom and flexibility to lead a fulfilling life, while also offering a financial safety net in the event of health-related needs. Specifically designed for individuals dealing with lifestyle diseases such as diabetes, hypertension, and high BMI, Care Freedom covers a comprehensive range of expenses. This includes in-patient treatment, pre-hospitalization and post-hospitalization expenses, road ambulance costs, home treatment, and more.

The policy offers the flexibility of choosing coverage for 1, 2, or 3 years, with the recommendation to opt for a longer term to minimize the hassle of frequent renewals. Care Freedom aims to empower individuals with the assurance that their health-related financial concerns are taken care of, allowing them to focus on living life to the fullest.

What Distinguishing Features and Benefits Does Care Freedom Offer?

Listed below are the features and benefits of the Care Freedom Health Insurance Policy.

  • In-patient Care and Daycare Treatment

In the event of a hospital stay exceeding 24 consecutive hours, the plan provides coverage for a range of in-patient medical expenses. This encompasses various costs such as surgeon’s fees, anesthesia charges, as well as expenses for blood and oxygen. Additionally, the coverage extends to include over 170 specified daycare treatments, ensuring that policyholders receive comprehensive support for both extended hospital stays

  • Pre and Post-hospitalisation

The plan offers coverage for all medical expenses incurred during both the pre and post-hospitalization periods, with the specific duration covered. The extent of coverage during these periods is contingent on the sum insured amount selected by the insured person.

  • Domiciliary Hospitalisation

The Care Freedom Plan includes coverage for medical treatment received at home, even without the necessity of hospital admission. In such cases, the plan offers reimbursement for the incurred expenses, subject to the terms and conditions outlined by the company.

  • Consumable Allowance

The Care Freedom Plan extends coverage to non-medical expenses incurred during hospitalization, including consumables, transportation, and attendant costs. These expenses are covered for a maximum of 7 days per hospitalization, with coverage commencing after the initial 3 days of hospitalization.

  • Recharge of Sum Insured

If your claim amount surpasses the coverage limit, the Care Freedom Plan offers an automatic recharge feature for the base sum insured. This recharged sum can be utilized by any insured members covered under the same policy for future claims.

  • Ambulance Cover

The Care Freedom Plan encompasses coverage for ambulance expenses, prioritizing your well-being during medical emergencies. This feature ensures that the financial aspects of ambulance services are taken care of, offering peace of mind and support during critical situations.

  • Waiting Period for Pre-Existing Diseases

The Care Freedom Plan incorporates a 24-month waiting period for pre-existing diseases. This means that comprehensive coverage for expenses related to pre-existing conditions will be applicable after the completion of the waiting period.

  • Tax Exemption

Premiums paid for the Care Freedom Health Insurance Plan offer a valuable financial benefit, as they qualify for tax exemption under Section 80C of the Income Tax Act, 1961.

Sample Premium Illustration of Care Freedom & Care Senior Plan

Meet Mr. Shubham Dhaka, a retired man who worked in a logistics company, residing in New Delhi. Having experienced the environmental conditions in the city, Mr. Dhaka understands the importance of safeguarding his health during his golden years. With a desire to ensure comprehensive coverage, he embarks on a search for a suitable health insurance plan.

During his exploration, Mr. Dhaka comes across two promising options: the Care Senior Plan and the Care Freedom Health Insurance Policy. Recognizing the significance of adequate coverage, he sets a target of securing a substantial insurance cover of Rs. 10 lakhs.

GenderAgePolicy TermHealth Insurance CoverCare Senior-Premium Amount (in Rs.)Care Freedom-Premium Amount (in Rs.)
Male61-65 Years1 YearRs. 10 LakhsRs. 53202 (Includes 18% GST)Rs. 42791 (Includes 18% GST)

What is the Best Health Insurance: Care Freedom or Care Senior?

It is no secret that choosing between the Care Freedom Plan and the Care Senior Plan depends on an individual’s priorities and preferences. The Care Freedom Plan offers flexibility and independence in healthcare decisions, while the Care Senior Plan provides comprehensive coverage tailored to the specific needs of older adults. By carefully evaluating their healthcare needs, seniors can make an informed decision and select the plan that best meets their requirements for both healthcare and financial security. Both Plans provide policyholders with a network of preferred healthcare providers, ensuring a streamlined and coordinated approach to their healthcare needs.

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