• Bajaj Allianz Star Package Policy

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    Star Package Policy is a unique health insurance cover offered by general insurance company Bajaj Allianz. The most unique feature of this cover is that it offers benefits under multiple sections including hospital cash, personal accident, critical illness, etc. In addition to the health insurance benefits, this cover also has provisions for children’s education grant following the death of a parent. Customers are free to choose the sections of benefits as per their requirement, but it is mandatory to choose at least three. This is a family floater cover that can be used to cover a whole family under a single policy.

    Eligibility for Bajaj Allianz Star Package Policy

    The eligibility criteria outlined by the company for enrolling in Bajaj Allianz Star Package Policy can be given as follows:

    • The age of the proposer must be between 18 years and 65 years.
    • Dependent children between the age of 3 months and 5 years can be covered only if both parents are covered.
    • Dependents between the age of 6 years and 25 years can be covered if at least one of the parent is covered.
    • This policy is renewable for life as long as there is no misrepresentation or fraud.

    Features of Bajaj Allianz Star Package Policy

    Some of the key features of Bajaj Allianz Star package Policy can be listed as follows:

    • The sum insured amount for this policy cover varies based on the type of benefits chosen. The premium amount charged for this policy varies accordingly.
    • Customers can avail a 10% discount on premiums by choosing 4 or more sections of this cover. A 15% discount is available for choosing 6 or more section.
    • Pre-existing diseases have a waiting period of 48 months under the ‘Health Guard’ plan.
    • For hospitalisation claims, there is a general waiting period of 30 days from the date of inception of this policy cover. This does not apply for accidental hospitalisation.
    • Conditions such as hernia, cataract, sinusitis, piles, etc. have a waiting period of 48 months before coverage can apply.
    • Pre and post hospitalisation expenses are covered for up to 60 days and 90 respectively under the ‘Health Guard’ section.
    • This policy can be availed for 1, 2, or 3 year terms. Long-term discount of 10% and 15% are available for 2 years and 3 years respectively.
    • Critical illnesses (if the coverage is taken) diagnosed within the first 90 days of the commencement of the policy will not be covered.
    • Pre policy medical examination is not required for entry age up to 45 years. The company will reimburse 100% of the checkup costs if the policy is accepted .
    • The sum insured amount chosen at the time of enrollment can be enhanced during the time of renewal.
    • Customers can make use of the 15-day free look period to determine whether or not to continue with the policy. If the policy is cancelled during this period, the customer will not be charged for the premiums.
    • A grace period of 30 days is offered for this policy cover to renew it after the date of expiry.
    • Portability guidelines are followed as per the regulations set forth by the IRDAI.
    • The premium amount paid for this policy is eligible for tax relief as per Section 80D of the Income Tax Act.

    Benefits of Bajaj Allianz Star Package Policy

    The benefits offered under Bajaj Allianz Star Package Policy can be classified into 8 different sections that can be given as follows:

    Benefits Extent of Coverage
    1. Hospital Cash
    Daily cash benefit during hospitalisation Rs.500 to Rs.2,500 per day for up to 30 days
    Daily cash benefit for ICU treatment Double the chosen daily cash amount for up to 7 days
    2. Health Guard
    Hospitalisation expenses Covered up to the sum insured limit
    Day care treatment Coverage for up to 130 procedures
    Emergency ambulance cover Actual expenses for up to Rs.1,000
    Cumulative bonus 10% per claim-free year subject to a maximum of 50% of the sum insured amount
    3. Critical Illness
    First diagnosis of a named critical illness Lump sum payment of Rs.1 lakh to Rs.3 lakh based on the sum insured amount chosen
    Survival period 30 days
    4. Personal Accident
    Death of the insured person Lumpsum payment of 100% of the sum insured amount (Rs.2 lakh to Rs.5 lakh)
    Permanent total disability of the insured person Lumpsum payment of 125% of the sum insured amount
    Permanent partial disability Lumpsum payment of the sum insured amount based on the severity of the damage
    Temporary total disability 1% of the sum insured per week for a maximum of 100 weeks
    5. Education Grant
    Compensation for children’s education following the death or permanent total disability of the insured person Lumpsum payment of the sum insured amount (Rs.2 lakh to Rs.5 lakh)
    6. Householder’s Content
    Loss of valuables due to fire or burglary Coverage on the basis of standard fire policy and burglary policy Sum insured - Rs.1 lakh to Rs.4 lakh
    7. Traveling Baggage
    Loss of baggage during travel Coverage for up to Rs.40,000
    8. Public Liability
    Liability for property damage or physical injuries caused to third parties Coverage for up to Rs.5 lakh

    Exclusions of Bajaj Allianz Star Package Policy

    The following list of exclusions apply to Bajaj Allianz Star Package Policy:

    • War, invasion, rebellion, or similar events
    • Any loss caused by depreciation and general wear and tear
    • Any consequential loss
    • Any loss that can be attributed to nuclear weapons or radioactivity
    • Any loss sustained while under the influence of alcohol or drugs
    • Plastic surgery unless required for accidental injuries, cancer, or burns
    • Cosmetic or aesthetic treatments of all kinds
    • Dental treatment unless arising out of accidental hospitalisation
    • Intentional self-injury, suicide, or suicide attempt
    • Convalescence, general debility, rest cure, etc.
    • Cost of external accessories like spectacles, hearing aids, contact lens, etc.
    • Sexually transmitted diseases or venereal diseases
    • Hospitalisation for the primary purpose of diagnosis
    • Treatment for mental illness or psychiatric conditions
    • Experimental or unproven treatment methods
    • Expenses related to organ donor screening
    • Medical expenses related to pregnancy and childbirth
    • Expenses related to Parkinson’s and Alzheimer’s disease

    Claim Procedure

    Following an event in any of the subscribed benefit sections, the company must be notified immediately. Cashless treatment is available under the ‘Health Guard’ section for hospitalisation expenses. This follows the same procedure as a cashless treatment claim in a regular mediclaim policy.

    For other claims, supporting documents must be provided while filing for the claim. For instance, a personal accident cover must include relevant documents related to death/disability certificate, medical reports, etc. Any doubts regarding the claim process or documentation can be clarified with the company’s customer service department.

    Once the claim documents are filed, the company will process the request and provide its acceptance/rejection within a maximum of 30 days. In case of rejection, a suitable reason will be provide for rejection. Following the acceptance of the claim, the settlement amount will be provided within a reasonable time.

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