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TATA AIG

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?

ped

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.

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prePost

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.

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ayush

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.

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dayCare

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.

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What's bad here?

special mention
warning
Be aware of

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.

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coPay

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.

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domiciliary

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.

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What's okay here?

roomRent

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.

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ncb

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.

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healthCheckup

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.

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What's lacking here?

restoration

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.

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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

Yes. Elder Care imposes 3 kinds of waiting periods -
  • 30-Day Waiting Period: Hospitalizations won’t be covered for the first 30 days of the policy unless it’s an accident.
  • Specific Illness Waiting Period: There’s a 2 to 4-year waiting period for a list of diseases which is a mandate before you can start claiming.
  • Pre-Existing Disease Waiting Period: There's a 2-year waiting period for any pre-existing disease you may have while buying the policy.
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