"He was just absolutely amazing. I could not have wished for anybody better. If I had passed out and nobody had been there I wouldn't be here now. He saved my life and it was my lucky day. I think God said we don't want her to leave just yet," she said.
The Papamoa woman also thanked friends and neighbours who had come to her assistance since the fire.
Reliving the event from Tauranga Hospital today, she said the speed of the fire had overwhelmed her.
"I was just turning the electric blanket off and I flicked the control and it ignited in my hand. I hurried into the bathroom and put a towel in some water to try and douse the flames but by the time I got back it had already spread too far. The whole bed was alight.
"I went to the bedroom window and saw the policeman coming over. I don't think he was on duty or anything he wasn't in his uniform. The smoke was getting thicker and next thing I was on my back overcome by it and must've passed out.
"That's the last I remember until I heard somebody saying: 'Here's the ambulance, we're taking you to hospital'."
The two police officers who rescued the woman were this afternoon praised by the New Zealand Police Commissioner Mike Bush.
Senior Constable Adrian Oldham was patrolling in Mount Maunganui last night when he saw a house engulfed in flames.
Constable Shane McCarthy arrived shortly after and helped Mr Oldham get the elderly woman to safety through the window.
Read more about the dramatic rescue here.