star health red carpet renewal

30 Jul, 2023 | by ashok T

Hi,

my father is 73 year old, I have 5 lakh policy with star health red carpet senior citizen plan for him. Renewal is due in next 30 days for that policy. This policy got room rent cap, major disease cap, copay and so many sublimits. We live in Chennai so finding a room price in decent hospital will be around 8000 plus per day. Given all this policy limitation, is it worth to increase the sum insured to 10 or 15 lakhs in red carpet policy or no ?

Health Insurance

2 Answer

Post

05 Aug, 2023

ashok T

Any response is highly appreciated please. Renewal date is nearing

0 Comments

06 Aug, 2023

Aakansha Jain

Hello Ashok,

Apologies for the delayed response!

There are better options for Senior Citizen Plans available in the market with fewer financial restrictions. If your father is in good health and doesn't have any pre-existing medical conditions, you can explore those alternatives. But, if you are unable to port, you can consider increasing the cover amount under the Star Health Red Carpet Plan; however, a 5 Lakh cover for a 73-year-old should be sufficient.

I would recommend you check out our free 1-to-1 personal consultation service. With this service, you can speak to an advisor of your choice and get a comprehensive PDF report with 100% unbiased recommendations powered by Beshak Research. Sharing the link here for your ready reference: https://www.beshak.org/advisor/

Thank you!

4 Comments

06 Aug, 2023

ashok T

My father had done open heart bypass surgery , will there be any other company willing to give better senior citizen policy option ?

also can you please give some detailed explanation just only for my better understanding when you say for 73 year 5 lakh cover under senior red carpet is enough “But, if you are unable to port, you can consider increasing the cover amount under the Star Health Red Carpet Plan; however, a 5 Lakh cover for a 73-year-old should be sufficient.”?

07 Aug, 2023

Aakansha Jain

Hello Ashok,

Given your father's medical history, it will be difficult to port to another policy. Also, we recommend cover calculation should be linked to long term inflation and estimated lifetime. Hence, in our view, 5L is good enough for people aged 70 years and above.

09 Aug, 2023

ashok T

can we talk over the scheduled call about this if it’s possible ?

09 Aug, 2023

Aakansha Jain

Hello Ashok,

You can choose any one of the expert financial advisors from our community and schedule a call with them. They'll answer any questions or concerns you have! Here's the link: https://www.beshak.org/advisor/

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