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Medical Policies

What medical situations does a Mediclaim policy cover?

Mediclaim policies settle hospital bills that incur as a result of ailments or accidental injuries suffered by the policy owners during the policy period.

What is the age limit for people who wish to take out a medical policy?

As per policy rules, the age limit for children is 3 months to 5 years if either of their parents is covered simultaneously. For others it is between 5 to 80 years.

What is the amount of tax benefit?

Policy premiums up till Rs.10,000/- are exempted from tax under Section 80 D of the Income Tax Act as on March 31, 2007.

What health policies are available for people from low-income groups?

People from low-income groups can avail the benefits of the Jan Arogya Bima Policy.

What policy is available for cancer patients?

Members of the Indian Cancer Society may use the Cancer Medical Expense Policy while members of the Cancer Patients Aid Association are eligible for the Cancer Insurance policy.

What systems of medicine are covered under Mediclaim policies?

Presently, only the Allopath, Ayurvedic and Unanipathy systems of medicine are covered by Mediclaim policies.

Does a Mediclaim policy covers illnesses, diseases or accidents that occur in other states of India or abroad?

A Mediclaim Policy is valid for health problems that happen anywhere in the world provided that treatment is received in India.

What happens if I have to undergo a treatment like dialysis and I am discharged on the same day?

When treatments such as Dialysis, Chemotherapy or Radiotherapy are received in a hospital and the insured patient is discharged on the same day, the treatment is grouped under the Hospitalization Benefit Scheme.

What about an eye operation through Laser Capulsotomy?

An operation of the eye done by Laser Capulsotomy comes under the Hospitalization Benefit Scheme of a Mediclaim Policy.

Can my dependants avail benefits under my Mediclaim policy if another policy currently covers them?

No coverage is allowed if your spouse or other dependants are covered under other Mediclaim Policies.

How do you define continuous treatment?

Continuous treatment is the treatment given to a patient for a particular ailment at a stretch. It includes all relapses within 45 days from the date of last consultation with the doctor or hospital. Any occurrence after 45 days will be considered a new ailment.

How are payments of claims made?

All medical treatment for which Mediclaim protection is desired should be received in India only. Payment of all claims will be made in Indian currency.

Savings Scheme

Can I open a Savings Scheme joint account?

Yes, a joint account can be opened only along with your spouse.

What is the age requirement for the second applicant of the joint account?

In case of a joint account, the age of 1st applicant is the only factor to decide eligibility for investing under the scheme. There is no age limit for the second joint account holder.

What is the share of the joint account holder in a joint deposit account?

Only the first applicant is eligible to make deposits under this scheme, so the question of a share for the joint account holder or spouse does not arise.

If the depositor does not close the account on maturity and does not extend the account for a further three years, then how will interest be calculated?

After the date of maturity, the account shall be considered matured. The current post maturity interest rate applicable to deposits under the Post Office Savings Accounts will be permissible for the period after maturity. The amount of excess interest paid (at the higher rate applicable to deposits under SCSS) after maturity shall be deducted.

Is there any Income Tax rebates or exemptions?

No Income Tax rebate is permitted under the scheme. The existing Income Tax provisions will apply.

Can 'A' open a joint account with his/her Spouse 'B' with maximum admissible deposits of Rs.15 lakh and similarly 'B' open another account individually or jointly with 'A'?

Yes, both spouses can open individual or joint accounts with each other. The maximum deposit should be up to Rs.15 Lakh each.

Do I need to open a new savings account to get interest that is credited periodically?

No such requirement is specified. You will get the due interest credited to your existing savings account.

Are multiple withdrawals permitted?

No. However, there is no limitation on opening multiple accounts within the overall ceiling limit of Rs.15 lakh.

Is any fee charged for nomination and/or change or cancellation of nomination?

No such fee is charged.

Defence Personnel

What is the age limit for registering with the Directorate General Resettlement (DGR) for employment assistance?

The age limit for retired Colonels is 57 years, Brigadiers - 58 years and Major Generals - 59 years.

What other facilities are available for retired officers at DGR?

The facilities available are- i. Retired officers can empanel themselves with DGR for security agencies. ii. They can apply for the Coal Transport Scheme or the management of CNG stations in the National Capital Region. iii. They can apply for jobs at 'Company Owned Company Operated' Petrol Pumps iv. Loan Facilities for starting Small Scale Industries.

How soon will I get a job after registering with DGR?

It takes almost 3 years to get sponsored for a government job. However, numerous banks and other companies provide jobs in the security department to retired defence personnel.

Can Para Military Force personnel register themselves for employment with DGR?

No, only ex-servicemen of defence forces (i.e. Army, Navy & Air Force) can register with DGR for employment assistance.

How does an Ex serviceman enrol himself with Defence Security Corps?

Non commissioned officers need to register with their Branch Recruitment Officer (BRO) or Registration Centre to be enrolled. After the Defence Security Corps (DSC) receives information about a vacancy, individuals are interviewed at Registration Centres or BRO's. The selected personnel are then sent to the DSC Centre, Cannannore. Junior Commissioned Officers (JCO) may forward their bio-data and application to their Record Offices. Here it will be scrutinized before being sent to the DSC Directorate at RK Puram, New Delhi. The applications are checked and a few JCOs are short-listed for employment.

Can a widow register for employment with DGR?

Yes. Widows have to fill P-II A form and send it to their Zila Sainik Board (ZSB) for verification. After verification the form is sent to the concerned Record Office, which in turn sends it to the Ministry of Labour. Intimation is sent to them after confirmation. This is applicable only to those widows whose husband's death has been declared as `attributable to military service".

Can a physically challenged retired defence person register with the DGR for employment?

No. Such a person may only register under P-I Category with their respective ZSB/RSB/Special Employment Exchange in particular states.

Is there any fee for registration?

No.

Self–Employment Schemes

What is the scope of Self Employment Schemes?

These schemes provide financial assistance to retired defence personnel for starting self-employment ventures.

What do you mean by service industry?

The Service Industry consists of businesses that offer services to the public such as workshops, telephone booths and house keeping.

Why are loans not being granted for transportation ventures?

Loans are not being granted for transportation ventures because of non-clearance of dues and outstanding loans against the ex-servicemen, as per government orders.

How can I apply for assistance under the Scheme?

An Ex - Serviceman has to apply for this scheme through Zilla Sainik Boards and Rajya Sainik Boards to Nationalized Banks and State Financial Corporations.

Who sanctions the loans or funds?

Banks, financial institutions and State Financial Corporations are responsible for providing loans or funds for starting self-employment ventures.

Does the Directorate General of Resettlement (DGR) disburse funds or loans?

No, the DGR does not disburse any funds or loans. It only provides information and advice to ex servicemen for obtaining loans.

General

What are the provisions made in the ‘Maintenance of Parents and Senior Citizens Bill, 2007’?

The Maintenance and Welfare of Parents and Senior Citizens Bill, 2007’ is an initiative of the Ministry of Social Justice and Empowerment. It was introduced in the Lok Sabha on 20th March 2007. The Bill states that adult children and grandchildren who are earning members are required to maintain and take care of their parents or grandparents. Maintenance refers to the provision of proper food, clothing, housing and medical treatment.

Parents include biological, adoptive and step parents. Also, any relative of a senior citizen who is in possession of property or who stands to inherit the property of the concerned senior citizen is liable to provide maintenance. An important feature of the proposed bill is that it would provide protection not just to parents who are over the age of 60 years but also to every parent who is in need of care.

The bill proposes to set up tribunals in every district where aggrieved parents may complain about being neglected. All elders, who are unable to maintain themselves through their own earning or out of the property owned by them, shall be entitled to make an application. The tribunal will pass an order regarding the amount of maintenance to be provided. Children, grandchildren or relatives may also face a jail term, have to pay a fine or be disinherited from property bequeathed to them.

What is the age when one can avail benefits set aside for senior citizens?

Different sectors have prescribed different ages for offering discounts and benefits to senior citizens The National Policy of Older Persons recognizes a person who is 60 years of age and above as a Senior Citizen. It resulted in the creation of the National Council of Older Persons. This Council is taking steps to ensure that the uniform age of 60 years and above is taken into account for availing facilities and benefits to senior citizens. The Ministry of Social Justice and Empowerment has also written to all Ministries and State Governments concerned for adopting a uniform age of 60 years for conferring senior citizen status.

I live alone. How do I ensure my safety?

As children migrate and settle in different cities, senior citizens are left to stay alone. Isolation and frail health exposes them to assaults and other such criminal acts. Here are some tips about how you can prevent the same from happening to you. Be vigilant at all times and don’t trust anyone blindly. These steps will guarantee your safety and protect you in case something untoward happens.

What is a Senior Citizen Reverse Mortgage Loan?

A large part of the savings of Senior Citizens is tied up in non-liquid assets such as homes and property. Senior Citizens usually do not have a regular income and if they exhaust their savings, then it gets difficult to meet living expenses without having to sell their house. A reverse mortgage allows a senior citizen who owns a house to avail of a monthly stream of income against mortgage of the house. The senior citizen remains the owner and occupies the house throughout his or her lifetime, without repayment or servicing of the loan. This system allows Senior Citizens to convert their homes into cash without having to sell their property.

The monthly amount paid by the reverse mortgage company can be used to meet medical expenses, pay utility bills and so on. The borrower does not need to repay the loan as long as he/she continues to live in the house. They can never owe more than the value of their house. After the death of the Senior Citizen, the lending institution sells the house to recover the amount of the mortgage plus interest. All amounts in excess are given to the heirs of the borrower. The basic difference between a reverse mortgage and a regular mortgage is the fact that a reverse mortgage has no predetermined tenure and does not have to be paid back in monthly installments. This makes is extremely viable for Senior Citizens.

The amount a Senior Citizen may receive per month is determined according to the value of their property, their age and the prevalent interest rate. Generally, people who have a more valuable home and are older get a larger amount of money per month. The National Housing Bank (NHB), which regulates housing finance, has enumerated operational guidelines through which this facility will be extended by Primary Lending Institutions (PLIs). PLIs include Scheduled Banks and Housing Finance Companies (HFCs) registered with the NHB.

Some reverse mortgage schemes offered by Primary Lending Institutions in India are the Institutions such as ICICI Bank, Bank of Baroda, Oriental Bank of Commerce and Andhra Bank have also planned to launch similar reverse mortgage schemes in the near future.