NEW PLICY FOR DENTAL EXPENSES ALSO

Here’s another additional to the health insurance industry. But this one’s different. ICICI Lombard’s new health insurance policy. Health Advantage, is the first to cover dental treatment expenses, over-the-counter purchase of medicines and orthopedic treatment. It also covers surgeries, accidents and sudden illnesses that usual health insurance products cover. But all this at a cost. The premiums for ordinary health policies.

TAX ADVANTAGE

The policy is specially designed to give the customer tax benefit of Rs 15000/- (Rs. 20,000 for senior citizens) under Section 80D. this policy would be suitable for people who fall under the higher tax slab of 30 percent.

COVER

Health Advantage covers preexisting diseases if the policy is renewed for he second consecutive year. In contrast, most health care policies cover pre-existing disease only after the fourth or fifth continuous renewal.

Unlike other policies, this one covers surgery of aliments that require less than 24 hours of hospitalization. The aliments include cataract, kidney stone removal, dilatation and curettage, chemotherapy, radiotherapy, coronary, angiography, cardiac catheterization, dialysis, eye surgery and tonsillectomy.

The policy also offers the flexibility of insuring a couple. Suppose a couple takes a Rs. 3 lakh cover and Rs. 1.9 lakh is used for a surgery and hospitalization bill on one of the spouses. The remaining Rs. 1.1 lakh can be claimed by either of the spouses again. The policy does not require a health check-up till 55 years of age. The maximum entry age for the policy is 65 years.

PREMIUM ADVANTAGE
The premium is fixed at Rs. 15,000 for ages 5 to 60, and Rs. 20,000 for ages 61 to 70. The same premiums are charged for a sum assured of Rs. 2 lakh or Rs. 3 lakh with different sets of benefits.

There are tow types of benefits that the policy extends: hospitalization expenses and outpatient treatment expenses. In a Rs. 3 lakh cover, the hospitalization expenses get increased by another Rs. 1 lakh, but the outpatient expenses are reduced by Rs. 500.