Bajaj Allianz Health Care Supreme Vital vs New India Assurance Senior Citizen Mediclaim
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Introduction
Before we start comparing these two policies we have to set out some ground rules.
Both products are marketed by different insurance companies. Health Care Supreme Vital is sold by Bajaj Allianz and Senior Citizen Mediclaim is sold by New India Assurance. So any meaningful comparison should include a comparison of the product alongside the insurers themselves.
Second, we know that both products have massive differences in their core structure. Health Care Supreme Vital is a premium policy built for people who want to leave no stone unturned when it comes to their health. It’s expensive and it does pretty much everything you expect a good policy to do. However, Senior Citizen Mediclaim is specifically designed for senior citizens. So in many ways, you’re comparing apples and oranges here.
And finally, any comparison is ultimately futile without considering the use case. Who are you buying this policy for? You, your family, your parents?
That’s something you’ll need to answer before using this guide. So with that introduction out of the way, we can get to comparing the actual policies themselves.
Let’s start with Health Care Supreme Vital. The product comes from Bajaj Allianz’s stable:
Founded in 2001, the company is a joint venture between Bajaj Finserv Limited (of the Bajaj Group) and Allianz SE, a German financial services corporation.
And while they may not be the biggest insurer out there, they do have a claim settlement ratio of 95%, with a network of more than 8,000 hospitals.
Senior Citizen Mediclaim meanwhile comes from New India Assurance’s stable:
New India Assurance, is a government-owned insurance firm that was established in 1919. Their insurance portfolio includes Health, Motor, Travel, and Marine products. But despite being in the business for so long, they’re not the most efficient when it comes to processing your application and dealing with your claims.
And that means, even with a relatively high claim settlement ratio and 3,139 network hospitals, the company isn’t exactly a stellar performer.
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Compare Insurances Insurance Parameters Recommended Not Recommended | Health Care Supreme Vital | Senior Citizen Mediclaim |
|---|---|---|
| Network hospitals | 8,000+ | 3,139 |
| Claim settlement ratio (avg. of last 3 years) | 95% | 99% |
| Co-payment | No | No |
| Room rent | Any Room | Any Room (up to 1% of sum insured) |
| Disease sub-limit | No | Yes |
| Pre existing diseases waiting | 2 years | 1.5 years |
| Pre/Post hospitalization | 60/90 days | 30/60 days |
| No claim bonus | 10% per year (up to 50%) | 5% per year (up to 30%) |
| Domiciliary | ||
| Ayush treatments | ||
| Restoration benefit | 100% restoration (once for different illness after complete exhaustion of sum insured) | |
| Health check-up | Once every year | Once every 4 years |
| Maternity | Available (up to ₹25,000 after 2 years) | |
| Out Patient Department | Up to ₹2,500 (Annually) | |
| Day care |
Feature Comparison
Co payment
With a co-payment clause, the insurer will mandate that you pay a part of the bill. So if the bill adds up to Rs. 2,00,000 and the co-payment is set at 20% then you could be asked to pay Rs. 40,000 from the bill. In this case, however, Health Care Supreme Vital doesn’t impose a co-payment clause. And neither does Senior Citizen Mediclaim.
Room rent
If the policy does impose room rent restrictions then the insurer may only let you stay in a room of a certain specification or impose a cap on the total room rent. If you were to breach either criterion then the insurance company may ask you to pay a portion of all the expenses you incurred while staying in the room. In this case, however, you can pick any room you want with Health Care Supreme Vital but Senior Citizen Mediclaim only lets you stay in a room whose rent doesn’t exceed 1% of the total sum insured.
Sub limits
Some policies will tell you that they will cover all medical expenses up until the sum insured, but then impose caps on the total costs you can incur while dealing with a very specific list of diseases. We call these caps “Disease Wise Sub Limits.” In this case, Health Care Supreme Vital doesn’t impose a disease wise sub-limit whereas Senior Citizen Mediclaim imposes disease-wise sub-limits on Appendicectomy, Angiography, Tonsillectomy, Hysterectomy.
Waiting periods for pre-existing diseases
If you’re suffering from a lifestyle condition or if you’ve had surgery in the past, or if you’re dealing with an acute or chronic illness at the time of buying the policy, then the insurer may classify this as a pre-existing disease. And they may tell you that they will only cover these illnesses after some time. In this case, Health Care Supreme Vital imposes a waiting period of 2 years on pre-existing diseases while Senior Citizen Mediclaim extends a waiting period of 1.5 years on existing conditions.
Pre and post Hospitalization expenses
Most people aren’t hospitalized right off the bat. Instead, they’ll have to go through a whole series of diagnostic tests before hospitalization and take medication post-discharge. These costs are outlined as pre-hospitalization expenses and post-hospitalization expenses respectively. In this case, Health Care Supreme Vital covers expenses incurred 60 days before hospitalization and expenses incurred 90 days post-hospitalization. Meanwhile, Senior Citizen Mediclaim covers expenses incurred 30 days before hospitalization and expenses incurred 60 after hospitalization, although there may be different sub-limits
No claim bonus
Some policies will tell you that they will incentivize you for not making a claim in any given year. And they offer such incentives by offering extra cover on top of the existing sum insured. This extra cover is categorized as a no-claim bonus. In this case, however, Health Care Supreme Vital offers a no-claim bonus of 10% whereas Senior Citizen Mediclaim offers a no-claim bonus of 5%. And the no-claim bonus may be capped at different levels too.
Domiciliary
Imagine you are forced to treat yourself at home because you don’t find a hospital bed, or you have a chronic condition that prevents you from visiting one, then, insurers may choose to cover your treatment even if you’re hospitalized at home. And such costs are collectively categorized as domiciliary treatment costs. In this case, however, neither Health Care Supreme Vital offers domiciliary cover nor does Senior Citizen Mediclaim
Ayush treatments
Most policies only cover treatments administered in a registered medical facility. However, on some occasions, you may want to pursue alternative treatments including homoeopathy, Ayurveda, Unani and Siddha. These treatments are collectively categorized as Ayush treatments. And in this case, Health Care Supreme Vital covers Ayush procedures and Senior Citizen Mediclaim also extends coverage for Ayush treatments.
Maternity benefits
If you’re hospitalized during childbirth, then you may have to incur significant costs during delivery of your newborn, child care and other related matters during the course of the hospitalization. These costs are collectively termed maternity costs. And in this case, however, Health Care Supreme Vital offers maternity cover whereas Senior Citizen Mediclaim doesn’t offer protection for maternity-related hospitalizations.
Out Patient Department (OPD)
Doctor visits and regular consultations aren’t usually covered by health insurance policies. They are categorized as Outpatient consultations (or OPD treatments) and patients have to bear the cost on their own. In this case, however, Health Care Supreme Vital offers OPD cover whereas Senior Citizen Mediclaim doesn’t offer OPD protection.
Final Conclusion
Since this isn’t a fair comparison, to begin with, we will only tell you this much. If you want something that’s all encompassing, you could go for Health Care Supreme Vital. However, if you are specifically looking to buy a policy for senior citizens, then you may want to consider Senior Citizen Mediclaim.
Other Bajaj Allianz Health Care Supreme Vital Comparisons
Other New India Assurance Senior Citizen Mediclaim Comparisons
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