COMMERCIAL STUDIES

INTERNAL ASSESMENT
TERM - 2

TOPIC - A STUDY ON DIFFERENT

LIFE INSURANCE POLICIES
PROVIDED BY STAR HEALTH
INSURANCE

DONE BY -
V.SRI RAMAN KISHORE
CLASS 11 LILY
 INDEX

S.NO TABLE OF PAGE

CONTENTS NO
1. SYNOPSIS
2. INTRODUCTION OF
STAR HEALTH
INSURANCE
3. POLICIES OF STAR
HEALTH INSURANCE
4.
5.
6.
7.
8.
9.
10.
 INTRODUCTION OF STAR
HEALTH INSURANCE

Star health & Allied insurance Co Ltd is an

Indian health insurance business enterprise
based in Chennai. The corporation
provides offerings in health, personal
accident and overseas journey insurance,
without delay in addition to through
diverse channels like dealers, brokers and
online. star fitness is likewise prominently
into bancassurance having a long status
relationship with numerous banks. star
health has underwritten a gross written top
class of Rs.5401 Cr during the FY 2018–
19 and net well worth of Rs.1480 Cr, as on
31 March 2019. presently star health has
10600+ personnel and 550+ department
offices throughout India.
INSURANCE POLICIES OF STAR
HEALTH -

STAR FAMILY PLANS-

1.STAR COMPREHENSIVE
INSURANCE POLICY
Complete healthcare protection for your
entire family on individual and floater
basis.
BENEFITS OF FAMILY PLANS
TO TAKE IN STAR HEALTH -

Section 1: Hospitalization
Hospitalization cover protects the
insured from in-patient hospitalization
expenses for a minimum duration of 24
hrs. these charges include room hire
(non-public single A/C room), nursing
and boarding expenses, doctor,
Anesthetist, Medical Practitioner,
consultants, specialist charges, the value
of drugs and drugs.
Road Ambulance charges for emergency
transportation to a health facility as per
detailed limits.
Air Ambulance gain expenses up to
Rs.2,50,000/- per hospitalization, no
longer exceeding Rs.five,00,000/-
 according to policy duration.
Pre hospitalization fees up to 60 days
previous to admission to the hospital
post-hospitalization fees up to 90 days
after discharge from the hospital
Outpatient session (apart from dental
and ophthal) costs as much as the limits
mentioned inside the table of benefits
 coverage for Domiciliary
hospitalization for a period exceeding
three days.
Pre hospitalization fees up to 60 days
previous to admission to the hospital
Post-hospitalization fees up to 90 days
after discharge from the hospital
Outpatient session (apart from dental
and ophthal) costs as much as the limits
mentioned inside the table of benefits
Coverage for Domiciliary
hospitalization for a period exceeding
three
Section 2: delivery and newborn
Expenses incurred as an in-patient for
shipping which includes transport by
using Caesarean section
Remedy of the new Born
Vaccination fees for the newborn toddler
are payable as much as the limits
mentioned inside the agenda of benefits
till the new child baby completes one
year of age and is brought inside the
coverage on renewal.

Section 8: option for second medical

Opinion
The Insured man or woman is given the
facility of acquiring a 2d clinical Opinion
in electronic mode from a medical doctor
inside the agency’s community of medical
Practitioners - clinical facts can be
despatched to the mail id
e_medicalopinion@starhealth.in

Section 9: AYUSH treatment

Inpatient Hospitalisation prices incurred
on remedy under Ayurveda, Unani, Sidha,
and Homeopathy structures of drugs in a
central authority health center or in any
institute recognized via the authorities
and/or approved by way of the exceptional
Council of India/country wide
Accreditation Board on fitness as an
inpatient is payable up to the limits
mentioned inside the agenda of benefits.

section 10: accidental loss of life and

everlasting total Disablement
Unintentional dying
Everlasting general incapacity following
an accident
Based youngsters and folks above 70
years may be covered under accidental
dying and everlasting general Disablement
as much as the sum insured of
Rs.10,00,000.
Section 11: celebrity well being program
Bargain inside the Renewal top rate for a
healthy lifestyle thru wellness activities.
Section 12: Buyback PED (non-
compulsory cover)
The Buyback PED waiting length could be
decreased from 36 to three hundred and
sixty five days on price of additional top
class.

Automatic recovery of Sum Insured

(relevant for segment 1 only)
Upon exhaustion of the basic sum insured
and the Bonus, the sum insured could be
robotically restored by 100% as soon as
throughout the coverage length. Such
restored Sum Insured can be applied for
infection /disorder unrelated to the
illness/illnesses for which declare/s turned
into/have been already made.
Such restoration will be available for
phase 1 other than outpatient scientific
consultation.
Cumulative Bonus -maximum benefit of
the bonus is one hundred% of the basic
sum insured.
Midterm inclusion of newly
married/wedded partner and New Born
baby is permissible on paying an
additional top rate. The intimation
approximately the marriage/new child
ought to take delivery of inside 60 days
from the date of marriage or newborn
waiting duration: The organisation shall
now not be liable under this coverage
directly or not directly for
First 30 days for illness/ailment (aside
from accidents)
24 months for detailed
infection/sickness/treatments
36 months for pre-existing illnesses
Pre-acceptance scientific Screening:
handiest for Buyback PED (non-obligatory
cowl).
Pre-existing illnesses/contamination: Are
protected after 36 months of continuous
insurance without ruin. If insured opts
Buyback PED then Pre-present illnesses
included after 12 months of continuous
insurance from the inception of this
coverage
2.SENIOR CITIZENSHIP PLANS-

IRDAI UIN: SHAHLIP22040V052122

New features:
3 additional Sum Insured alternatives
namely Rs.15 lacs, Rs.20 lacs and Rs.25
lacs added
coverage is to be had for 1 / 2 / 3 year
which may be renewed. in which the
policy is issued for greater than 1 year, the
Sum Insured is for every year, with none
convey over advantage thereof
coverage may be issued each on individual
and Floater basis
Cataract limits revised
Outpatient session in community hospitals
fee of fitness Checkup.
Hospitalisation coverage:
Protects the insured for in patient
hospitalisation prices for at the very least
24 hrs.those costs encompass room
lease,nursing and boarding fees, health
care professional, Anaesthetist, medical
Practitioner, specialists, professional
prices,cost of drugs and pills upto the
bounds specific.
Ambulance costs for emergency
transportation to hospital as per distinct
limits.
Pre hospitalization prices up to 30 days
earlier to this point of hospitalization
publish-hospitalisation paid as lump-sum
up to the limit precise.
expenses on scientific Consultations as an
Out-affected person in a community health
center as much as the boundaries specified.
cost of fitness Checkup for each claim-
loose year up to the bounds designated
All day-care strategies are blanketed.
Sub-limits are relevant for particular
infection/ sickness.
insurance for contemporary treatment
please click on here

gain/top class example for individual and

Floater basis please click on here

Installment Facility:
premium can be paid Quarterly and half
yearly. top class can also be paid annually,
Biennial (as soon as in 2 years) and
Triennial (once in 3 years).
Three: Out-patient Dental and Ophthalmic
treatment
Dental / Ophthalmic remedies as an out-
patient - once in a block of every 3 years.

Section four: Organ Donor expenses

Fees incurred for organ transplantation
from the Donor to the Recipient Insured
person are Payable provided the claim for
transplantation is payable.
Segment 5: hospital cash
hospital cash advantage for each
completed day of hospitalization for a
most of 7 days per occurrence is payable.

Section 6: health Checkup

cost of health checkup is payable after
every declare-free year
Segment 7: Bariatric surgery
prices incurred on hospitalization for
bariatric surgery and its headaches thereof
are payable as much as the bounds referred
to, for the duration of the policy length.
The maximum restriction of Rs.2,50,000/-
and Rs.five,00,000/- are together with pre-
hospitalization and publish-hospitalization
fees.
Eligibility-

Any person between 60 and seventy five

years of age on the time of entry can take
this insurance policy.

Tax benefits:
Quantity paid by using any mode other
than by cash for this insurance is eligible
for relief underneath segment 80D of the
earnings Tax Act.

Free look period: at the time of inception

of the policy, the Insured might be allowed
a length of 15 days from the date of receipt
of the coverage to study the phrases and
situations of the coverage and to go back
the coverage if no longer appropriate. In
such a case, the top rate refund will be as
follows :
Eligibility-

Any person between 60 and seventy five

years of age on the time of entry can take
this insurance policy.

Tax benefits:
Quantity paid by using any mode other
than by cash for this insurance is eligible
for relief underneath segment 80D of the
earnings Tax Act.

Free look period: at the time of inception

of the policy, the Insured might be allowed
a length of 15 days from the date of receipt
of the coverage to study the phrases and
situations of the coverage and to go back
the coverage if no longer appropriate. In
such a case, the top rate refund will be as
follows :

If the Insured has now not made any

declare at some point of the free
appearance duration, the Insured shall be
entitled to –

a refund of the premium paid much less

any prices incurred via the Insurer on
medical exam of the insured persons and
the stamp responsibility expenses or
in which the chance has already
commenced and the option of return of the
policy is exercised with the aid of the
policyholder, a deduction in the direction
of the proportionate threat premium for the
length on the quilt or
where handiest a part of the coverage
insurance has started, such proportionate
premium commensurate with the coverage
insurance all through such period.
Freelook duration shall not be relevant at
the time of renewal.

observe: Renewal top rate, phrases, and

situations are situation to trade with prior
approval from IRDAI.
PREMIUM CHART FOR SENIOR
CITIZEN -

\
 OTHER PLANS BY STAR
HEALTH INSURANCE-

FAMILY HEALTH OPTIMA PLAN-

IRDAI UIN: SHAHLIP22030V06212
 BENEFITS OF THIS PLAN -
Policy advantages:
Room, boarding, and nursing fees are
all-inclusive as per the limits.
health practitioner, Anaesthetist, medical
Practitioner, specialists, specialist costs,
Oxygen, Operation Theatre fees, ICU
charges, Diagnostics, imaging
modalities and medicines and capsules,
Oxygen, Blood and fee of the
pacemaker.
Ambulance prices for emergency
transportation to the medical institution
as according to distinctive limits.
Air Ambulance expenses up to 10% of
the Sum Insured for the duration of the
complete coverage duration.
Pre-Hospitalization expenses as much as
60 days previous to admission in the
hospital.
post-hospitalization expenses incurred as
much as 90 days after discharge from
the hospital.
Domiciliary hospitalization: cover for
medical treatment for a period exceeding
3 days.
Organ Donor expenses: cover up to 10%
of the Sum Insured or Rupees One lakh,
whichever is much less.
Cataract: costs incurred on remedy of
cataract is concern to the bounds cited.
price of fitness Checkup: costs incurred
in the direction of the value of fitness
check-u.s.up to the bounds
New Born toddler cover: cowl starts
offevolved from sixteenth day after
delivery and is difficulty to a restriction
of 10% of the Sum Insured or Rupees
Fifty Thousand, whichever is much less
This coverage covers 68 different
excluded prices.
New advantages:
Emergency domestic scientific
Evacuation: corporation reimburses the
expenses incurred towards transportation
of the insured man or woman from the
treating medical institution to every
other one up to the bounds.
Compassionate tour:
The business enterprise will reimburse
the transportation charges by using air
incurred as much as Rs5000/- for one
immediately family member (aside from
the tour companion) for travel toward
the vicinity wherein the health center is
located.
Repatriation of Mortal remains:
The organisation shall reimburse as
much as Rs.5,000/- in the direction of
the price of repatriation of mortal
remains of the insured man or woman to
the house of the insured.
treatment in valuable carrier carriers:
inside the event of a clinical contingency
requiring hospitalization, if the insured
seeks advice from the enterprise, the
agency may advise the precise sanatorium
from the community for treatment. If the
insured accepts, an quantity calculated at
1% of basic Sum Insured situation to a
maximum of Rs.five,000/- in keeping with
policy is payable as lumpsum.
Shared lodging: Upto the limits.

AYUSH treatment:
Upto the boundaries.
second medical Opinion:
The Insured man or woman can obtain a
medical 2nd Opinion from a medical
doctor in the company’s network of
medical Practitioners
Assisted Reproductive treatment: The
organization will reimburse medical fees
incurred on Assisted replica treatment,
where indicated, for sub-fertility
A waiting duration of 36 months from the
date of the first inception of this coverage
is applicable.
The maximum liability of the company for
such treatment will be constrained to Rs.1
lakh for sum insured of Rs.5 lakh and Rs.2
lakhs for sum insured of Rs.10 lakhs and
above for each block of 36 months.
extra Sum Insured for RTA(road traffic
coincidence): If the insured individual
meets with a avenue site visitors accident
ensuing in an in-affected person
hospitalization, then the simple sum
insured will be accelerated via 25%
concern to a maximum of Rs.5,00,000/-.
This benefit is payable if the insured
character was wearing a helmet and
touring in a -wheeler both as a rider or as a
pillion rider
automated healing of Sum Insured :
available 3 instances at one hundred%
each time, throughout the coverage period.
each recovery will perform best after the
exhaustion of the sooner one.
four. Recharge gain:
available as much as the limits.
Bonus:
Following a declare-unfastened yr bonus
of 25% of the expiring primary sum
insured within the 2nd 12 months and an
additional 10% for subsequent years
(max.one hundred%) might be allowed.
where there's a declare the Bonus could be
reversed in the equal order wherein it
became given.
Installment Facility: top rate can be paid
Quarterly and 1/2 every year. top rate also
can be paid annually.
 OBJECTIVES

 To analyse the life insurance policy issued by

star health life insurance Company Ltd.
 To study the Terms of inclusions and exclusions
of each policy provided by star life insurance
Company Ltd.
 To study the Term of the policy provided by star
life insurance company.
 To Understand the withdrawal of money from
the Insurance scheme of the policy.

OTHER SERVICES PROVIDED BY

STAR HEALTH INSURANCE -

MEDI CLASS INSURANCE

POLICY -

IRDAI UIN: SHAHLIP22037V062122

BENEFITS OF THIS PLAN -

Room, Boarding and Nursing prices - 2%

of sum insured situation to a maximum of
Rs.5000/-
Emergency Ambulance prices up to a sum
of Rs.750/- in step with hospitalization and
Rs.1500/- in line with policy period.
Pre-Hospitalization expenses as much as
30 days prior to admission within the
health facility
put up-hospitalization prices incurred for a
duration as much as 60 days from the date
of discharge from the medical institution.
the amount payable shall not exceed the
sum equal to 7% of the hospitalization fees
issued to a most of Rs.5000/- according to
hospitalization
price of health check-up once after a block
of each four declare-loose years. This gain
is available for a sum insured of Rs.
2,00,000/- and above most effective.
A cataract is payable as much as the
bounds

Psychiatric and Psychosomatic disorder: If

the insured man or woman is diagnosed
with the psychiatric or psychosomatic
disease for the first time and hospitalized
for a minimal duration of 5 consecutive
days under this coverage, then the
corporation pays hospitalization fees up to
basic Sum Insured

Cumulative Bonus: five% of the

fundamental sum insured for each declared
loose 12 months problem to a most of 25%

automatic recovery: There shall be

automated recuperation of the fundamental
Sum Insured with the aid of 200%, once
all through the coverage duration
Non-Allopathic Treatment: Up to 25% of
the Basic Sum Insured challenge to a
maximum of Rs 25000/- for the duration
of the whole coverage length.

own family package deal Plan (now not

available beneath Gold Plan): - to be had
for people from 5 months to forty-five
years. The sum insured is apportioned
equally among an insured circle of
relatives participants. fitness Checkup
benefit will be calculated at the policy sum
insured and equally divided amongst all of
the insured people.

If the insured person needs wider

advantages then they can choose Gold
Plan :
blessings under GOLD PLAN:
Room, boarding, nursing prices for sum
insured of Rs. three,00,000/- and Rs.
4,00,000/- is payable as much as 5000/- in
step with day and Above Rs.5,00,000/-
non-public single A/c Room

Emergency Ambulance expenses up to

Rs.2000/- in keeping with hospitalization.

Pre-Hospitalization costs as much as 30

days prior to admission within the clinic

post-hospitalization expenses incurred for

a period up to 60 days from the date of
discharge from the clinic

cost of health test-up is payable up to the

limits

A cataract is payable up to the bounds

Psychiatric and Psychosomatic disease: If

the insured person is identified with the
psychiatric or psychosomatic ailment for
the first time and hospitalized for a
minimal length of five consecutive days
underneath this coverage, then the
employer can pay hospitalization expenses
up to basic Sum Insured consecutive days

Cumulative Bonus: 25% of simple sum

insured within the second yr and extra
20% of the basic sum insured for each next
year's difficulty to a most of one hundred%
standard

automated recovery: There shall be the

automated restoration of the simple Sum
Insured by means of two hundred%, as
soon as at some point of the coverage
period

extraordinary restoration of primary Sum

Insured with the aid of a hundred% might
be provided once for the last coverage
period which can be used for the following
hospitalization
Domiciliary hospitalization remedies for a
length exceeding three days
Organ fees incurred for organ
transplantation from the Donor to the
recipient insured person are payable
supplied the declare for transplantation is
payable

Shared lodging If the Insured character

occupies shared accommodation in the
course of inpatient hospitalization, then a
lump sum charge as said will be payable

extra basic Sum Insured for street visitors

twist of fate (RTA) If the insured character
meets with an avenue site visitors
coincidence ensuing in affected person
hospitalization, then the simple sum
insured shall be extended with the aid of
50%

Hospitalization fees for remedy of a latest

Born toddler: The insurance for brand
spanking new born infant begins from the
sixteenth day after its delivery and is a
problem to a restriction of 10% of the Sum
Insured or Rupees Fifty thousand,
whichever is less

Non Allopathic remedy: Up to 25% of the

fundamental Sum Insured situation to a
maximum of Rs 25000/- during the whole
policy period.

add-on covers (situation to a fee of

additional top class):

patient Care: available for men and women

above 60 years. can pay for attendant
charges after discharge from the medical
institution for a maximum of 5 days
according to hospitalization and 14 days
consistent with coverage period.
health facility cash: hospital coins
advantage for each finished day of
hospitalization subject to a most of seven
days according to hospitalization and 14
days in step with coverage period.

discounts (to be had handiest if Gold Plan

is selected):

family discount: 5% discount is to be had

if 2 or greater circle of relatives
individuals are blanketed beneath this
policy

principal Organ Donor bargain: If at the

time of renewal if the insured character
submits proofs that he/she has donated a
first-rate organ, a reduction of 25% of the
top rate is to be had at the time of renewal.
This discount is to be had even for
subsequent renewals also.
waiting intervals:
The enterprise shall not be responsible
under this policy without delay or
circuitously for;

First 30 days for contamination/sickness

(apart from injuries)
24 months for specified
illness/ailment/remedies
48 months for pre-present ailment.

CONCLUSION -
REFERENCES-
https://www.starhealth.in/individual-
health-insurance-plan
BIBIOGRAPGHY
