With the rising cost of medical treatments and the unique healthcare needs of senior citizens, it is crucial to choose a comprehensive health plan that caters specifically to their requirements. Two notable options in this regard are Star Health’s Senior Citizens Red Carpet Health Insurance Policy and the ManipalCigna Prime Senior plan. Both plans are designed to provide extensive coverage and support for elderly individuals, ensuring their healthcare needs are met effectively.
In this comparison, we will explore the key features and benefits of each plan, enabling you to make an informed decision when choosing the most suitable health plan for yourself or your loved ones.
Comparison Between Senior Citizens Red Carpet Health Insurance Policy and ManipalCigna Prime Senior
Let’s quickly understand the prime differences between ManipalCigna Prime Senior and the Senior Citizens Red Carpet Health Insurance Policy based on the following parameters.
| Parameters | ManipalCigna Prime Senior | Senior Citizens Red Carpet Health Insurance Policy |
| Minimum & Maximum Entry Age | Adult – 56 years Adult – 75 Years | Between 60 Years and 75 Years |
| Policy Term | 1, 2 and 3 years | 1/2/3 Years |
| Renewability | Lifetime | Lifelong |
| Daycare procedures | Up to SI | All daycare procedures are covered |
| Sum Insured | Prime Senior – Classic- Rs. 3 Lacs – Rs. 50 Lacs Prime Senior – Elite- Rs. 5 Lacs – Rs. 50 Lacs | Up to Rs. 25 Lakhs |
| Co-Payment | 20% per claim. Options available to modify the same to 0%, 10%, or 30% | This policy is subject to a co-payment of 30% for all claims. |
| Room Rent Limit | Single Private AC Room ICU: Up to SI | Up to Rs.10,000/- per day |
| Annual Health check-up | Prime Senior – Classic– After every claim-free year (Available from 2nd year onwards). Prime Senior – Elite- Once in a policy year (Available from 1st year onwards) | For per person (Limit): Rs. 2,500 For Per Policy Period (Limit): Rs. 4,500 |
| Tax Benefits | Covered | 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 Expenses | Pre – Hospitalisation 30 days; Up to SI Post – Hospitalisation 60 days; Up to SI | Pre-hospitalisation- 30 Days Post-hospitalization- up to 7% of the hospitalization expenses as per the limits mentioned in the policy clause. |
| ICU Charges | Covered | Up to 2% of the Sum Insured is payable as ICU charges for the Sum Insured up to Rs. 10 lakhs. And, for the Sum Insured of Rs. 15 lakhs to Rs. 25 lakhs, ICU charges are covered up to actuals. |
| Ambulance | Up to SI | Covered |
| Waiting period | 24 Months (Pre-Existing Diseases) | Expenses related to the treatment of any illness within 30 days from the first policy commencement date shall be excluded except claims arising due to an accident, provided the same are covered |
What is the Senior Citizens' Red Carpet Health Insurance Policy?
Senior Citizens Red Carpet Health Insurance Policy by Star Health is specifically crafted for individuals aged 60 and above. Remarkably, there is no requirement for pre-medical screening before purchasing this health insurance, presenting a significant advantage for seniors. This comprehensive plan encompasses a range of benefits, including coverage for contemporary treatments, in-patient hospitalization, daycare procedures, and more. Available for both individuals and families on a floater basis, Star Health’s insurance for senior citizens includes a unique feature of lifetime renewability, ensuring continued support for medical expenses throughout one’s life.
The policy offers a variety of Sum Insured options, ranging from Rs. 1,00,000/- to Rs. 25,00,000/-. Notably, the Sum Insured option from Rs. 10,00,000/- to Rs. 25,00,000/- is available on a Floater basis, providing flexibility for family coverage. Premium payments are convenient, with options to pay quarterly, half-yearly, annually, biennially (once every 2 years), or triennially (once every 3 years). This flexibility ensures that policyholders can choose a payment frequency that aligns with their preferences and financial planning.
Key Features and Benefits of Star Health’s Senior Citizens Red Carpet Health Insurance Policy
These are as follows:
- Individual/Family Floater
The insurance policy provides coverage options in two distinct modes: Individual Cover and Family Floater Cover. Under the Individual Cover, the policy caters to the insurance needs of a single person, offering personalized protection and benefits tailored to an individual’s health requirements.
On the other hand, the Family Floater Cover extends its coverage to an entire family. This means that the policy safeguards the health and well-being of all family members, allowing them to share a common sum insured.
- Cataract Treatment
Costs associated with cataract treatment become eligible for coverage following a waiting period of 24 months. Post this waiting period, the insurance policy extends coverage for cataract-related expenses, adhering to the specified limits outlined in the policy clause.
- Co-payment
This insurance policy entails a co-payment requirement of 30% for all claims. In the context of health insurance, co-payment refers to the percentage of the covered expenses that the policyholder is responsible for paying out of their pocket. In this case, the policy specifies that 30% of the total claim amount is the co-payment obligation, and the remaining percentage is covered by the insurance provider.
- Health Check-Up
For each consecutive claim-free year, this policy offers coverage for expenses related to an annual health check-up at designated Network Hospitals. The coverage extends up to the limits specified in the policy terms and conditions. This provision serves as a reward for policyholders who maintain a claim-free record over successive policy years.
- Instalment Options
The premium for the policy can be conveniently paid through various flexible payment frequencies. Policyholders have the option to make payments on a quarterly or half-yearly basis, allowing for more frequent but smaller financial commitments. Additionally, the premium can be paid annually for those who prefer an annual payment schedule.
- ICU Charges
For Sum Insured up to Rs. 10 lakhs: Up to 2% of the Sum Insured is payable as coverage for ICU charges. This means that the policy will cover ICU expenses up to a maximum of 2% of the total Sum Insured for policyholders with a Sum Insured of up to Rs. 10 lakhs. On the other hand, for the Sum Insured ranging from Rs. 15 lakhs to Rs. 25 lakhs: ICU charges are covered up to actuals. In this case, the policy provides coverage for the actual expenses incurred in the Intensive Care Unit for policyholders with a Sum Insured falling within the range of Rs. 15 lakhs to Rs. 25 lakhs.
- Pre-hospitalization
Beyond coverage for in-patient hospitalization, this policy extends coverage to include medical expenses incurred up to 30 days preceding the date of admission to the hospital. This provision ensures that not only the expenses during the actual hospital stay but also the relevant medical costs leading up to the admission are covered by the policy.
- Post-hospitalization
After the hospitalization period, this policy includes coverage for post-hospitalization medical expenses. Specifically, the coverage extends up to 7% of the hospitalization expenses, adhering to the specified limits outlined in the policy clause. This provision is designed to address the ongoing medical costs that may be incurred after the hospital stay, ensuring a more comprehensive financial safety net for the policyholder.
What is the ManipalCigna Prime Senior Plan?
ManipalCigna Prime Senior Plan stands out as a dedicated insurance option crafted for the well-being of senior citizens, ensuring their golden years shine brightly. Meticulously curated by experts with a focus on the unique needs of senior citizens, this fully developed product is exclusively tailored for individuals aged 56 years and above. The plan offers two variants, each thoughtfully designed to deliver comprehensive care while ensuring the best value for money:
- ManipalCigna Prime Senior Classic is a specialized plan catering to the elderly, providing extensive coverage and a balance between comprehensive benefits and affordability. Tailored to meet the diverse needs of senior citizens, this plan ensures financial support for both health challenges and well-being, without causing undue strain on their finances.
- ManipalCigna Prime Senior Elite is an advanced plan that builds upon the advantages of the Classic option. With added features, this plan goes the extra mile to ensure seniors get the maximum coverage for their investment, providing a comprehensive and enriched insurance solution.
What is Special About ManipalCigna Prime Senior Plan?
Here are the aspects that make this plan so special.
- Tax Saving
The Manipal Cigna Prime Senior Plan is eligible for tax benefits under Section 80D of the Income Tax Act of 1961. This allows policyholders to avail themselves of tax deductions for the premiums paid, contributing to more financially advantageous health coverage for seniors.
- Plan Options
You have the flexibility to customize the Manipal Cigna Prime Senior Plan based on your specific needs. Whether you prefer a family-oriented coverage, individual protection, or a multi-individual plan, the policy can be tailored to suit your unique requirements and ensure comprehensive health insurance tailored to your preferences.
- Flexible Sum Insured Option
For the “basic plan,” you have the flexibility to choose a sum insured ranging from Rs. 3 lakhs to Rs. 50 lakhs. Conversely, the “Elite plan” offers a higher range, allowing you to select the insured amount from Rs. 5 lakhs to Rs. 50 lakhs. This customization ensures that you can align your coverage with your specific financial and healthcare needs, tailoring the plan to suit your preferences.
- Rider Options
To enhance your coverage further, the Manipal Cigna Prime Senior Plan offers the option to include various riders or add-ons. Examples include Health 360 Shield and Health 360 OPD, providing additional benefits and comprehensive protection beyond the basic plan. These riders can be tailored to address specific healthcare needs, offering a more personalized and extensive insurance solution for senior individuals.
- Reduction in PED Waiting Period
The Manipal Cigna Prime Senior Health Insurance Plan comes with a designated waiting period provision. However, by opting for this add-on, you have the opportunity to reduce or shorten the waiting period. This enhancement allows for quicker access to the benefits of the insurance plan, offering more immediate and comprehensive coverage for senior individuals.
- Room Category Flexibility
A notable advantage of the Manipal Cigna Prime Senior plan is its flexibility in accommodating treatment in a room category that exceeds your eligibility. In such cases, you will only incur charges for the additional difference in room rent, without facing proportionate fees for items like nursing costs and doctor visits.
- Inpatient hospitalization
The Manipal Cigna Prime Senior plan extends coverage to include room costs and all associated medical expenses for hospital stays exceeding 24 hours. Importantly, if the chosen room category surpasses the qualifying one, the plan ensures that no proportionate deductions will be applied to related medical expenses.
- Pre-, Post, and in-patient Hospitalization
Under the Manipal Cigna Prime Senior plan, both the Classic Plan and the Elite Plan offer extensive coverage for pre-, post, and inpatient hospitalization. With the Classic Plan, you can receive coverage up to the Sum Insured for 30 days before and 60 days after hospitalization. On the other hand, the Elite Plan provides even more extended coverage, offering protection for 60 days before and 90 days after hospitalization. This feature ensures comprehensive financial support, encompassing various aspects of healthcare before, during, and after hospitalization.
Premium Calculation For Both Plans
Mr. Dilip Sangwan, a 61-year-old retired Navy officer, resides in New Delhi and is actively looking to secure comprehensive health insurance coverage for his golden years. Aware of the importance of having a robust health insurance plan, he begins exploring options that cater specifically to senior citizens. During his research, Mr. Sangwan came across two promising plans: Star Health’s Senior Citizens Red Carpet Health Insurance Policy and ManipalCigna Prime Senior Plan.
Understanding the significance of adequate coverage, Mr. Sangwan sets his sights on securing a substantial insurance cover of Rs. 10 lakhs. With this coverage goal in mind, he decides to compare the premium costs of both plans. Knowing that premium costs can vary based on factors such as age, location, and specific policy features, Mr. Sangwan reaches out to the respective insurance companies to obtain personalized quotes with similar parameters.
Senior Citizens Red Carpet Health Insurance policy:
| Gender | Age | Policy Term | Health Insurance Cover | Premium Amount (in Rs.) |
| Male | 61 Years | 1 Year | Rs. 10 Lakhs | Rs. 26,550 (Including Tax) |
ManipalCigna Prime Senior Plan:
| Gender | Age | Policy Term | Health Insurance Cover | Premium Amount (in Rs.) |
| Male | 61 Years | 1 Year | Rs. 10 Lakhs | ManipalCigna Prime Senior – Elite Plan– Rs. 30,199.74 (Including Tax) ManipalCigna Prime Senior – Classic Plan– Rs. 28,243.3 |
What Should You Opt for Senior Citizens Red Carpet Health Insurance Policy or ManipalCigna Prime Senior Plan?
Choosing between Star Health’s Senior Citizens Red Carpet Health Insurance Policy and the ManipalCigna Prime Senior Plan depends on your specific needs, preferences, and budget. Remember, the best plan for you is the one that meets your healthcare needs while offering comprehensive coverage and peace of mind in your senior years. To help you out, if you want health insurance for senior citizens with lower premiums and a myriad of medical facilities then Senior Citizens Red Carpet Health Insurance Policy is the answer to the solution. On the other hand, if you want health insurance with higher sum insured options, then choosing ManipalCigna Prime Senior Plan will be an ideal choice for you.
