RichVik Wealth Private Limited along with Care Health Insurance are happy to share the Health Insurance Product – Care Advantage.
The Care Advantage health insurance introduces a comprehensive plan designed to provide extensive coverage at an affordable cost. It focuses on offering a high sum insured option and ensures access to quality healthcare through its wide network of providers. The plan’s key benefits and features, presenting it as a reliable solution for individuals and families seeking robust health coverage.
Let’s see some key features of the Care Advantage Insurance Policy:
1. High Sum Insured (up to Rs.1 crores): While choosing a health insurance plan, one evaluates if the sum insured amount will be able to cover the medical expenses for a year. A high Sum Insured amount of 1cr ensures that! Coverage by Care Advantage is adequate for possible medical expenses which may arise due to health emergencies in the future. All this, at a very affordable premium.
2. Cashless Medical Services at Network: Care Advantage gives you the advantage of cashless treatment which ensures you concentrate only on your/ your loved ones’ recovery during a health ailment/ emergency. You can avail these services at our network of over 19,000 healthcare providers pan India offering world class health services for its customers. Our vast network ensures you always find a quality healthcare provider in your close proximity.
3. Automatic Recharge of sum Insured: A health emergency can arise anytime and potentially exhaust the entire Sum Insured that is available. In such cases, features like Automatic recharge of Sum Insured reinstates the Sum Insured back to the original levels. This amount can be used for any other claim during the remaining policy year. Not just this, you can avail the benefit unlimited number of times by opting for an Optional Cover Unlimited Automatic Recharge. The recharge amount can be utilized for the second claim in the same policy year for same person for treatment of an earlier claimed illness/injury after 45 Days of discharge of the last hospitalisation.
4. 30 days Pre-Hospitalization Cover: Sometimes the procedures that finally lead you to hospital, such as investigative tests and medication, can be quite financially draining. We cover the medical expenses incurred by you up to 30 days before your hospitalisation.
5. 60 days Post-Hospitalization Cover: Expenses don’t end once you are discharged. There are follow-up visits to your medical practitioner, medication and sometimes even further confirmatory tests. We cover the medical expenses incurred by you up to 60 days after your hospitalisation.
6. No Claim Bonus: Get a flat increase of 10% in Sum Insured for next policy year in case of no claim. No Claim Bonus will not exceed 50% of Sum Insured under the policy and in the event of a claim in a policy year, No Claim Bonus accrued will be reduced by the same proportion.
Eligibility criteria for the Care Advantage Policy
Entry Age – Minimum | Individual: 5 years Floater: 91 Days with at least 1 Insured Person of age 18 years or above |
Entry Age – Maximum | Lifelong |
Age of Proposer | 18 Years or above |
Policy Term | 1/2/3 Years |
How can You cover Yourself | Individual/Floater |
Initial Wait Period | 30 Days |
Named Ailment wait Period | 24 Months |
Pre-Existing Disease Wait Period | 48 Months |
Benefits of Care Advantage Policy
Sum Insured* | Rs.25 Lacs, Rs.50 Lacs and Rs.1 Crore |
Room Rent | No Sub-Limit |
ICU charges | No Sub- Limit. |
In Patient & Day Care Treatment Expenses | Up to Sum Insured |
Pre-Hospitalisation/ Post Hospitalisation | 30 days pre hospitalization and 60 days post hospitalization |
Automatic Recharge | Yes, once in a Policy Year. |
Ambulance Cover | Up to Sum Insured |
Organ Donor Expenses | Up to Sum Insured. |
No Claim Bonus (NCB) | 10% increase in SI per Policy Year in case of claim-free year; Max up to 50% of SI. |
Optional Benefits of Care Advantage Policy
No Claims Bonus Super (NCBS) | 50% increase in SI per Policy Year in case of claim free year; Max up to 100% of SI (50% decrease in SI per Policy Year in case a claim has been paid; Such decrease is only in SI accrued as NCBS) |
Air Ambulance Cover | Up to Rs.5 Lacs |
Smart Select | For hospitals covered under Smart Select Network: up to SI For Other hospitals not part of Smart Select Network: 20% co-payment on all claims Note: check the list of hospitals covered under smart select on https://www.careinsurance.com/ smart-select-network-locator.html |
Reduction in PED Wait Period | Applicable PED Wait Period of 4 Years, will be reduced to 2 Years. |
Annual Health Check-up | Annual |
Room Rent Modification | Single private room category. |
The Care Advantage Policy has some Permanent Exclusions:
– Expenses attributable to self-inflicted injury resulting from suicide, attempted suicide.
– Expenses arising out of or attributable to alcohol or drug use/misuse/abuse.
– Expenses related to any admission primarily for diagnostics and evaluation purposes only.
– External Congenital diseases.
– Change-of-Gender treatments.
We at RichVik Wealth guide our clients for their insurance needs, ensuring their financial security.
To understand more on the topic as well as to start investments please feel free to contact us:
Phone: +91-9324609115
E-mail: team@richvikwealth.in
The article is authored by Mr. Saurabh Gosavi from Team RichVik.