The insurer empowers policyholders with 5 optional covers for enhanced protection
FinTech BizNews Service
Mumbai, November 16, 2023: Star Health and Allied Insurance, India’s leading standalone health insurer has launched its digital-only health policy, Smart Health Pro. This policy empowers customers with the flexibility to personalize their coverage by selecting from five optional add-on covers. Aimed at catering to the evolving needs of the digital-native population of India, the policy allows individuals to choose a sum insured tailored to their distinct needs from a diverse spectrum of coverage, ranging from Rs5 lakhs to Rs1 crore.
This innovative product is set to transform the way individuals secure comprehensive health insurance. The policy offers customers the freedom to customize their insurance cover with five add on optional covers that best suit their needs, thereby giving customers more control over their policies.
1. Unlimited Automatic Restoration of Sum Insured: The opted sum insured will be restored unlimited number of times, to a maximum of up to 100% each time. This restored sum insured can be utilized for subsequent hospitalization. The restoration feature is trigged upon partial or full utilization of the limit of cover. Such restored sum insured can be utilized for all claims including subsequent hospitalizations.
2. Cumulative Bonus Booster: 50% of sum insured for each claim free year and maximum up to 600% of the sum insured
3. Modification of Room Category: Insured person can enhance/ reduce the room category from private single A/c room to any room / shared accommodation
4. Reduction of Pre-Existing Diseases Waiting Period: Insured person can reduce the pre-existing diseases waiting period from 48 months to 36/24/12 months.
5. Coverage for Non-medical Items: Items listed as non-medical items fall under consumables and are normally excluded from insurance coverage. With this new optional cover, items listed as Non-medical items will become payable if there is an admissible claim under the policy for inpatient or day-care treatment
Smart Health Pro offers both individual and floater covers for families up to 2 adults and 3 children. This product ensures seamless coverage for hospitalization due to illnesses or accidents, including AYUSH treatments, Modern Treatments, and Home care treatment. The policy accommodates mid-term inclusions for Newlyweds, Newborns, and adopted children. Policyholders will also have access to Star Health’s 24x7 free telemedicine consultation and can participate in wellness programs that are managed by experienced medical experts.
Anand Roy, MD and CEO, Star Health and Allied Insurance Co. Ltd. said, “Smart Health Pro embodies Star Health's commitment to innovation, personalization, and accessibility. In today's dynamic world, health insurance must adapt to individual needs. This digital-first initiative not only provides comprehensive coverage but also empowers families to tailor their policies with ease. We are bridging gaps, making health insurance inclusive and user-friendly, especially for the youth and rural communities. With Smart Health Pro, we're not just offering insurance; we're providing peace of mind, ensuring everyone can access quality healthcare when they need it most. In an era where the digital medium plays a pivotal role in our lives, we are happy to introduce a product specifically curated to meet the needs of India's tech-savvy generation."
This initiative reflects Star Health’s customer-first ethos, merging convenience and customization. Embracing digital platforms, the insurer endeavours to bridge gaps in health insurance accessibility, especially in rural India, encouraging people to protect their financial wellbeing.
Key Features of Smart Health Pro Insurance Policy:
