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8 ways to Upgrade your existing health insurance cover

by Manish Chauhan · 61 comments

Is your health insurance cover enough at the moment ? May be No ! , and you might want to increase it now. But if you feel that your health insurance coverage is sufficient right now, even then, it will need an upgrade after another 5-10 yrs. Healthcare inflation is on rise in India and there is no way you can live with the tiny health insurance cover for rest of your life.

So lets check 8 ways you can upgrade your health insurance cover.

If you have bought your own personal health insurance before 2010, in all probability, you have sum insured coverage of less than Rs. 4-5 Lakhs. While it’s great to hear that you at least have your own independent health insurance, and are not dependent on your employer health cover, it’s high time you realize that with the skyrocketing healthcare inflation, the sum insured you have is too low to even cover one hospital bill, leave alone cover you for your hospitalization expenses in your retirement years.

The amount of health insurance coverage you need has already been addressed in one of my earlier posts, on Health Insurance Coverage for Retirement and beyond.  What we are going to discuss here are the options available when one is looking for upgrading his/her coverage

Upgrade Health Insurance Cover

8 ways to upgrade your Health Insurance Policy

There are various ways you can increase your health insurance cover. Below are some of them mentioned.

1. Upgrade later, when needed

Though this may look like the most cost effective, ‘smart’ thing to do, mind you, this is the diciest options of all.  Health Insurance companies will accept your upgrade request till you are young and healthy. No one wants you to enter their portfolio or books, once you are old, grumpy or dying. Jokes apart, even if one of your family members suffer a chronic ailment like Diabetes, Thyroid etc. or worse make a claim in the health insurance policy, your chances of upgrade in the policy are almost zero.

If you are not aware, let me clarify – whenever you apply for an upgrade, you will have to make a fresh application to the Insurance Company for the upgrades giving declaration of any new diseases contracted etc. The insurance company will then evaluate the upgrade request similar to a new application and decide. All said and done, even if the upgrade is approved, all waiting periods are applied to the upgrade part of the policy, from the year of upgrade, and not retrospectively.

2. No procrastination. Upgrade your cover now

This is by far, the most ideal option if you have a lifetime health insurance plan and your family is reasonably healthy. Just apply for an upgrade to the highest coverage available first, before you try anything else, including a Top-up plan. Yes, you will have to request for the upgrade at the time of renewal by filling an application, which will be subject to approval of the Insurance Company. If you one of you family members have had a claim for a chronic disease, you must explore upgrade for all the other members. If you are all covered under a floater, you can apply for a separate plan (explained in point 4). If you are covered under individual plans, ask for upgrade for the remaining members in the same plan.

3. Port your health insurance cover + upgrade

If the sum insured you have is the highest available with the current Insurer, you can explore the option of porting your policy to another product within the same insurance company, or another insurance company, which has higher coverage plans. Note, for portability, in most cases, you need to apply to the new insurance company, 45 days in advance. While applying for portability you need to request for your preferred sum insured in the proposal form. Of course, you will get portability only for the existing sum insured and not for the upgraded sum insured. The waiting periods will start again for the upgraded part of the coverage.

4. Buy second Health Insurance policy

If the sum insured you have availed is the maximum sum insured offered by the Insurance Company, and portability is not possible as explained above, another option is taking a second health insurance policy from another Insurance Company. If you ever claim above the sum insured of Policy 1 you can always claim from Policy 2 for the rest of the claim. Details of how to claim from two policies are available here and here. Ensure you inform about the existing policy in your proposal form for the new policy.

5. Top-up Cover

Though Top-up plans are recently a popular option to increase your health insurance coverage, you need to understand how they work, before you sign-up for such plans. The policy provides a high coverage with a threshold amount upto which you cannot make any claims. For instance, you buy a 10 Lakh cover with a 3 Lakh threshold (also called deductible) – you will be able to claim in this policy only when you have made claims of above Rs. 3 Lakhs.

There are primarily two types of top-up health insurance plans:

  • Top-up health insurance: Per claim deductible: Here the top-up coverage will trigger only when one hospitalization claim crosses the threshold sum insured. For instance, if in the plan in the above example, there are 2 claims in a year of Rs. 2 Lakhs and Rs. 3 Lakhs each, the top-up coverage will not trigger since none of the 2 claims crossed the “per claim threshold” of Rs. 3 Lakhs. On the other if there is one claim of Rs. 4 Lakhs, then the top-up policy will pay the remainder Rs. 1 Lakh, as per the terms and conditions.
  • Super Top-up health insurance: As the name suggests, this is a better version of a top-up plan. Here the coverage will trigger even if the sum total of all claims made in a year cross the threshold sum insured. In the above example, where there are 2 claims made, both the claims will be paid, upto the sum insured of Rs. 10 Lakhs. Unfortunately, there is only United India which provides this plan (albeit, with a lot of reluctance) HDFC Ergo and Max Bupa are in the process of releasing such a plan, soon. Watch this space.

6. Critical Illness Plans

In most cases, a high coverage of health insurance is required due to contraction of a critical illness like Cancer, Paralysis, Heart Attack, Kidney Failure, Bypass Surgery etc. A Critical Illness Plan provides a lump sum benefit irrespective of the actual expenses incurred provided the insured person is diagnosed for a listed ailment and survives for 30 days. Taking coverage of around Rs. 5-10 Lakhs for critical illness is a good option. The only flipside of this plan, is risk of suffering an ailment not listed in the policy. Ensure you take a policy which covers an extensive list of illnesses, at least till the age of 70. There are plans which provide coverage for a list of 20 ailments.

7. Defined Benefit Plans

Defined Benefit Plans provide fixed compensations against list of surgeries, irrespective of the actual costs incurred. For instance one plan pays a fixed benefit of Rs. 1.00 Lakh for Angioplasty, Rs. 2 Lakhs for a Bypass Surgery. These plans pay such claims based on minimal photocopied hospitalization papers. Additionally these plans provide a host of other fixed benefits including fixed amounts per day of hospitalization etc. These plans are different from Critical Illnesses which are based on diagnosis, while these plans are based on actual hospitalization and surgeries. Read a detailed post on Defined Benefit Plans and the Comparison of options available.

8. No Claim Bonus Plans

Given a choice, if you are going for a fresh cover, go for plans which provide No Claim Bonus (Increase of sum insured every year) rather than No Claim Discount (decrease of premium). This helps an assured increase of your coverage every year till you don’t make a claim. Most good plans provide a bonus of at least 50% of the base cover. Of course, this is not a long term as one claim completely wipes out this bonus at the time of renewal of the policy.

Note – In my 2nd book – “How to be your own Financial Planner in 10 steps” , you can read about Health Insurance in the 3rd chapter

Top-up Vs. Super Top-up Vs. Upgrade Existing Policy Vs. Buying additional Policy

Most Insurance advisers recommend a top-up plan to increase your health insurance cover. In terms of convenience of purchase and claims, we would recommend upgrade of the same health insurance policy, as the best option. This is ofcourse, provided you are happy with the policy terms and services.

The second best option would be to compare available options of Super Top-up with option of Additional Mediclaim Policy. If the premium is more or less the same, we would recommend additional policy more than a Super Top-up.

After all the above options, look for the option of a simple top-up to increase your cover. Be sure you are aware of the fact, that this option is more useful in the very long term (6-10 years), since it will trigger only when your one claim goes above the threshold/deductible mentioned in the policy.

Other Important points when you plan for upgrading health insurance

1. Upgrade deadline

If you observe around you, lifestyle ailments are spreading like an epidemic across India, thanks to the sedentary lifestyle we live. You will observe that most of the ailments start cropping up in the late 30′s or early 40′s. If you/your family are in your early 30′s and already have health issues (overweight, underweight, breathlessness, borderline high cholesterol etc.) it is recommended that you go for the highest coverage on mediclaim immediately, rather than get a restricted cover in case you suffer from a chronic ailment in the interim of your plan to increase coverage. In any case, ensure you upgrade to desired coverage by the time you reach the age of 40 years.

2. Option of Stepping up your upgrade plan

If you are in your early 30s, and you cannot afford a one-shot upgrade is too heavy on your current financial budget, create an upgrade plan. Spread the desired upgrade amount across your age upto 40 and upgrade the amount in a manner that you reach the upgraded amount by 40 years. For instance, increase your sum insured every year by say Rs. 1 Lakh.

3. Upgrading Features of your plan

Moving to a plan with better features. If you are happy with the sum insured, but not with the features (limitations like room rent limits or co-pays etc. or maybe the network of hospitals) and you are looking at an upgrade, you need to first look at the same insurance company, and check whether they have an advanced plan you are looking for. In case you like a plan from another Insurance company, you would have to opt for portability with this new Insurance Company 45 days before renewal of your existing policy. Do remember, in the real world (outside the IRDA guidelines) there are limitations on who can get portability, especially if your family is older than 45 years, has a claim history, or a chronic disease.

Go for any options you like above, the bottom line remains – TAKE ACTION.  TAKE ACTION NOW. You have too many priorities in your life at home and work, to really be able to remember and act on this even tomorrow.

This article is from Mahavir Chopra of medimanage.com, who is a health insurance broker and was kind enough to share this amazing article on our blog. This article first appeared on medimanage health insurance blog.

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{ 61 comments… read them below or add one }

1 Krishna February 25, 2013 at 12:56 pm

Hi Manish,

As usual, your article provided very good details. When is your new book launch scheduled. I am waiting for the book.

Thanks,
Krishna

Reply

2 Manish Chauhan February 25, 2013 at 4:55 pm

Krishna

THe second book is already launched :) bit.ly/Financial-planner-book

Reply

3 Krishna February 25, 2013 at 9:05 pm

Thank you manish!!

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4 Dhawal Sharma February 25, 2013 at 2:22 pm

i would like to further case for one of the most popular product of MAX BUPA by the name FAMILY FIRST..In this product, a policy holder can have INDIVIDUAL COVER (Max of 5 lakh) + FLOATER COVER (Max of 15 lakh)..Premium is very reasonable and one can get himself/herself fully covered along with the family for high sum assured without the HEAVY premium outgo as well as without any hassels/terms-conditions-asterix of TOP-UP PLAN etc..

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5 Manish Chauhan February 25, 2013 at 4:55 pm

Thanks for sharing that info about Max Bupa Dhawal .. Can you also state how is Max Bupa better than than other companies like Religare or Apollo

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6 Dhawal Sharma February 25, 2013 at 8:55 pm

@Manish,

To began with, there is no such product in the market – leave alone Religare or Apollo – which gives such high sum assured option like FAMILY FIRST..There are certain unique features like MATERNITY BENEFITS after 2 years, 1st year vaccination free for new born etc..List is long :-) but i can say with authority that MAX BUPA is one of the best option for covering oneself with large COVER amount..

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7 Manish Chauhan February 27, 2013 at 10:25 am

Yea .. I understand its one of the best options

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8 Krishh February 28, 2013 at 9:16 am

But biggest draw back of this plan is 20% copay after 65 yrs. Rest everything looks ok .

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9 Manish February 25, 2013 at 2:50 pm

Hi Manish,
Could you provide some info about Family Health policies, wherein in one policy we can cover all of the family members?

I have read that these kind of policies usually have lower premiums per se but I have no info about the claims ratio for such policies.

Thanks

Reply

10 Manish Chauhan February 25, 2013 at 4:53 pm

You are referring to Family Floater plans. All the health insurance companies have those plans . Just get in touch with few companies and check out what they have to offer !

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11 raj February 26, 2013 at 9:56 pm

Dear Team,

Before anyone buys any Health Plan, my submission is; do check the HEALTH Plans offered by PSU Banks. In nutshell, these products are Simply cheap & best. But come with hiccups & hassles. But are excellent for Individuals/Family/Common Man. And ARE NEVER Recommended by Any Agent or Any Advisor. REASON IS They don’t get ANY benefit.
Don’t Trust me. But thoroughly search internet and only then conclude.

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12 Manish Chauhan February 27, 2013 at 9:55 am

Raj

The premiums are cheaper , however the issue is they should not be seen as long term products because of various reasons . I will write on it !

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13 Mahesh Patil March 9, 2013 at 2:03 am

Hi Manish,

I am planning on getting BOI Swasthaya Bima plan for 5lacs.

It seems and excellent product with same premium upto 65 and then loading of 25% there after till 80 and then extensions by National Insurance.

It has no Room Rent or disease specific limits.

Can you please explain why I shouldn’t buy it as you just mentioned that they aren’t long term.

Mahesh

Reply

14 Manish Chauhan March 9, 2013 at 8:34 am
15 Mahesh Patil March 9, 2013 at 1:25 pm

Hi Manish,

I did read through the article but find most, virtually all, the point equally apply to retail policies.

Apprehension that Premium might go up, restrictions might be imposed are equally true for retail customers.

I am thinking of getting 5lac policy for my mother from BOI. At the moment there are no restriction but assuming that they bring in some in future… I would still her 1% SI as room rent which would be OK.

And once I am insured by National Insurance, they can’t just ditch me. They have to continue insuring me.

And finally as per the new rules all heath insurance policies have to be renewable for life.

What’s your take?

Mahesh

Reply

16 Mahavir Chopra March 13, 2013 at 12:55 pm

Hello Mahesh,

The points like premium might go up, restrictions might be imposed is different for Retail Vs Group. Group benefits are modular in their approved design, and hence the premiums are customizable, as per the loss incurred in the previous years. So if an A benefit is resulting in loss, it can be curtailed immediately on renewal, without any approvals from IRDA.

Whereas Retail prices and benefits require re-filing with IRDA, which is a big big hindrance for Insurance Companies.

You will get lifetime renewals in group, but due to the way it is designed and approved, terms can be changed within the design without approvals from IRDA.

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17 Mahesh Patil March 15, 2013 at 11:48 pm

Hi Mahavir,

I am intrigued. If that is so..i.e. group plans are modular and require no prior approval from IRDA…then I agree that to be a solid reason to think before blindly relying on them.

Can I ask if a company wants to change terms like impose sub limits on surgery, certain diseases, cap the maximum amount payable per claim to say 50% of SI, room rents, minus out certain advantages like organ donor cover, domiciliary treatment….. can they apply to IRDA and request those changes?

I mean IRDA approval might take time but eventually, once approved they can enforce it, right?

OR are there any no go areas which companies cannot amend in their “retail” policies once started?

Mahesh

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18 Mahavir Chopra March 18, 2013 at 11:08 am

My answer is already in the earlier comment.

I never mentioned that it is impossible.

I said, it is difficult to get major changes done on a Retail product, without making adequate justifications and representations to IRDA. IRDA is mandated to protect policyholder’s interest.

It is very easier to make changes in Group products.

19 Sumit May 1, 2013 at 9:38 pm

DearMahesh,

These days, Group policies designed for banks are a great options due to 2 basic reasons.

1. Genuine Premium.
2. No limitations in terms of feature.

Even medimanage also promote Oriental happy Floater.

Group policies also allow portability to the PSU standard policy of the policy is terminated (if at all)

20 Pankaj February 25, 2013 at 5:21 pm

Dear Mahavir, Thanks for this informative article…

I already have Happy Family Floater from Oriental for self, spouse and my kid (Rs 6 Lakhs). Also, have Apollo Munich AI for self (Rs. 25 Lakhs ) and Bharti Axa CI for self (Rs. 10 Lakhs). All these policies were taken thru Medimanage. Now, I have finalized Top Up Policy of Bajaj Allianz (Extra Cover) with SI of Rs. 15 Lakhs with deductible of Rs. 5 Lakhs; this will again thru Medimanage.

Mahavir – please advice – 1) Should I go ahead with Top Up Policy or wait for Super Top Up policy of HDFC Ergo and Max Bupa? 2) With all these policies will my Health Coverage would be sufficient for next 30 years?

Thanks to Manish / Jagoinvestor Team that we all get to read these amazing, informative and unbiased guest articles….

Regards
Pankaj

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21 Mahavir Chopra February 25, 2013 at 6:58 pm

Hi Pankaj,

1. I would suggest you wait for sometime for the Super Top-up.
2. Yes, your cover should be good enough. Just try to create a good contingency fund through a simple Mutual Fund SIP.

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22 Pankaj February 28, 2013 at 11:12 am

Thanks Mahavir,

A) I have already declared Top Up policy as part of Tax Saving portfolio thus I would like to go for the best available Top Up Policy this financial year itself. Next year I may discontinue Bajaj Extra Cover and would go for Super Top Up of HDFC Ergo / Max Bupa.

B) Can you also confirm whether Health Suraksha Top Up PLUS is a Super Top Up policy or a Top Up policy… After reading comment by Nikhil I have been trying to speak with HDFC Ergo but their customer care is unresponsive :(

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23 Mahavir Chopra February 28, 2013 at 11:33 am

Hello Pankaj,

HDFC Ergo has 2 variants. One is a Topup policy and another is a Super Topup.

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24 Pankaj February 28, 2013 at 11:48 am

It means I should go for Super Top Plan of HDFC Ergo. If Super Top Up policy is available than I would go for it right….

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25 Mahavir Chopra February 28, 2013 at 5:35 pm

Yes.

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26 Nikhil verma March 4, 2013 at 11:24 am

Hi Pankaj,

HDFC Ergo will not entertain you. That response I also got. Some how there’s deal between HDFC Ergo & HDFC Credit Card. If you have HDFC Credit Card then you can call up HDFC credit card customer care and tell them that you want HDFC ergo Super top-up. They will take your details and transfer them to HDFC Ergo. After some time you will receive call from HDFC Ergo and if there’s no PED they will release the policy instantly and you will get the policy within few days.

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27 Pankaj March 4, 2013 at 2:56 pm

Thanks Nikhil,

You are right… HDFC Ergo Customer Care Execs were not of much help when I called their call center earlier. Now, I would rather wait for Medimanage to start selling this product.

Or if that don’t happen in couple of months than I would go for it directly by using my HDFC CC and next year during renewal I would go for change of agent…

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28 Amar Patel March 6, 2013 at 1:23 am

Just 1 thing Nikhil…for a SuperTop Up policy to be a sure shot cover its important that the renewal date of SuperTopUp and Base policy are very close to each other or ideally just the same.

If you think about it that way you will get a FULL cover through the year irrespective of the month of claim. This might take some planning i.e. you might have to wait till your base policy if due for renewal and at that time you can purchase a new policy.

I have currently applied for HDFC Super Top Up (now they are selling it for all and not just HDFC CC holders). My mother has Diabetes and I have been told that they would be accept as my current policies are already for High sum and it going to be a portability with no waiting time. They jury is still out though!

Lastly, United also is an excellent Super Top Up policy with premiums which are FRACTIONS of HDFC.

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29 Pankaj March 8, 2013 at 11:52 am

@ Amar

So did you first tried with United and after their reluctance you applied for HDFC ERGO?

Also, I have similar queries as asked by Mayank Kimore 1) “How important is it for a super top up and base policy to have the SAME renewal date?” 2) “Diff between United’s and HDFC’s SuperTopUp policy?”.

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30 Amar Patel March 8, 2013 at 1:16 pm

@Pankaj

I applied for HDFC ergo as United were lax in their service..I made numerous calls but no on bothered to follow up but –after applying for HDFC- when I checked on their respective premiums United in the winner all the way.

So I went to United’s office myself and arranged to get SuperTop. I have now requested cancellation of HDFC policy.

There are 2 main difference from what I gather-

1) United dosen’t have ANY waiting times other than 48months for PEDs. HDFC on the other hand has 30day, 2yr and 4yr waiting.

2) United doesn’t offer pre and post hospitalization.

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31 Nikhil verma March 8, 2013 at 2:09 pm

Dear Amar,

Based on the recent interactions with different Health Insurance companies, they don’t mind which date your base policy is getting renewed. On the contrary they don’t even care whether you have a base policy. My wife’s Top-up policy from HDFC Ergo didn’t asked for base policy, neither there’s any section in the policy about base policy. But it’s preferable to have a base policy, issued at any date.

I checked in HDFC Ergo site and found that they are now selling only normal To-up policy which other companies like Apollo Munich, Bajaj Allianz & Bharti Axa are selling. What I had purchased for my wife was Top-up PLUS which is like Super Top-up of United India. You can get more details on difference from the following article in Medimanage: http://www.medimanage.com/health-insurance-experts-blog/post/2012/11/27/HDFC-Ergo-launches-Super-Top-New-Launch.aspx

Please let me know if you got the HDFC Ergo to-up policy for your mother even after informing about diabetes. Till what age they issue new policy. When I enquiered for my mother aged 57 they said NO.

Regards,
Nikhil

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32 Amar Patel March 9, 2013 at 12:42 am

Hi Nikhil,

HDFC is still selling the super top-up policy. They– I think– have changed the name. If you go on their website and read the product description, notwithstanding the name, you will find that their product responds to each and every claim when the deductible has been crossed because of “”ONE or MULTIPLE”” claims in a given HDFC “POLICY YEAR”.

And yes you are right..there is NO NEED to have a base policy. But to have both of them with SAME RENEWAL DATE ensures a cast iron cover otherwise there might be times when SuperTopUp will not help at all.

United have accepted my mother but imposed 48month waiting time on PEDs. I don’t know about HDFC: I have withdrawn my application as their premium was way too high and they weren’t offering much. HDFC will issue policy till 55 without any check up. United didn’t ask for Health check as my mother had an ICICI policy. But if she didn’t have a policy then they would have asked for it.

Finally, just to accentuate my point on renewal date synchronicity- please read this example. Let me know if you think my argument makes sense.

Consider this:
My BASE ICICI policy is renewed every September. (3lac)

My proposed HDFC SuperTopUp policy will renew every March. (3lac/5lac)

HDFC policy, as per the conditions, will respond to each and every claim in a given HDFC policy year when the aggregate cost of multiple hospitalizations has exceeded the deductible amount.

Now consider this situation:

A Claim is made in February for a total of 3lacs–> ICICI will indemnify.

A further claim is made in July for a total of 2lacs–> ICICI SI is exhausted. HDFC will not pay as the 2lac amounts is below the deductible amount.

PN: This is because the initial claim of 3lac in Feb was in LAST HDFC policy and thus irrelevant of current claim consideration.

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33 Nobuddy February 27, 2013 at 8:18 pm

Pankaj….. you need to declare all previous policies to the company you are buying the new product from. Also the existing companies are also to be informed about all new policies taken subsequent to the one from them. I believe you have taken care of this. A claim … god forbid there should be none… may get into problem in absence of any such exchange of info between the companies insuring you.

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34 Pankaj February 28, 2013 at 10:48 am

@ Nobuddy,

Thanks for the information. I have declared all the existing policies while applying for the the new Top Up policy. However, I was not aware about providing details of new policies to existing insurers.

Will check up with Medimanage; my Health Insurance Advisor…

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35 Manish Chauhan February 28, 2013 at 10:54 am

You dont have to inform about NEW policies to the OLD insurer (for life and health both)

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36 Pankaj February 28, 2013 at 11:13 am

Manish, Thanks for the clarification….

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37 Mayank Kimore March 6, 2013 at 1:39 am

Hi Manish,

1)how important is it for a super top up and base policy to have the SAME renewal date?
2)what is the difference between united’s and HDFC’s SuperTopUp policy?

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38 Manish Chauhan February 28, 2013 at 10:56 am

Nobuddy

You dont have to inform about NEW policies to the OLD insurer (for life and health both) . Why did you say so ?

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39 Nikhil verma February 27, 2013 at 10:25 am

Excellent article. Just one information that HDFC Ergo is providing Super-top policy named Health Suraksha Top Up PLUS to HDFC Bank Credit card customers. I have taken it for my wife. As I have diabetes my proposal was rejected.

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40 Manoj Maindola February 28, 2013 at 2:47 pm

Hi,
I have a question. Lets say I have a health insurance in India. Now I move to US or any other country for long term say 7 Years. In US I opt for health insurance again for all these years. Now my question is:
Do I continue to pay my premium in india in order to enjoy benefits (like old premium) of loyal customer? Means when once I return back to India, do I need to renew my policy again and pay new premium charges (if I discontinue my india policy during my stay in US).

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41 Mahavir Chopra February 28, 2013 at 5:34 pm

Hello Manoj,

Health Insurance premiums change as per your age. They do not remain stable say like a Term Insurance. This is primarily because Term Insurance is one risk event, payable once. Whereas, Health Insurance can be claimed year on year till you renew for the sum insured.

Yes, you need to continue paying premium to enjoy continuity benefits which are time bound exclusions on ailments etc. Contact a health insurance adviser to understand further on this.

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42 Manoj Maindola March 1, 2013 at 1:22 pm

So does it mean that I have to pay premium in two countries?
In US, for healhth cover security in case of any health issue.
And in India, just to keep my policy running to enjoy benefits like waiting period exemption later on…..

So if I also have insurance covered by my employer(where I also pay some contribution), I’ll end up paying premium at 3 places.

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43 Mahavir Chopra March 2, 2013 at 11:52 am

Yes, you need to pay for US premiums for the duration you are staying there, and the Indian premium for the long term.

You can stop the employer premium, unless it covers your parents for whom you need a cover with pre-existing disease coverage.

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44 kavita k March 2, 2013 at 11:47 pm

hi, manish,

thks for the informative article on health insurance cover, i have just started reading ur next book ‘how to be ur own financial planner in 10 steps. and i hope it must be very very informative for me as a housewife. thanks again

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45 Manish Chauhan March 3, 2013 at 9:57 pm

Good to heat that Kavita

I am sure it will be a great one for you, but unless you keep taking action in each chapter , the knowledge will be just knowledge . Convert it into action !

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46 Mayank Kimore March 6, 2013 at 1:41 am

Hi Mayank,

1)how important is it for a super top up and base policy to have the SAME renewal date?
2)what is the difference between united’s and HDFC’s SuperTopUp policy?

Manish

Reply

47 Amar Patel March 6, 2013 at 1:44 am

1)how important is it for a super top up and base policy to have the SAME renewal date?
2)what is the difference between united’s and HDFC’s SuperTopUp policy?

Reply

48 Sandeep March 6, 2013 at 1:17 pm

Hi Manish
Can you clarify on the point that Max Bupa is coming out with a super top up plan. I tried searching but couldnt find any such news item. Can you tell me the source of this info.

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49 Mahavir Chopra March 6, 2013 at 10:50 pm

Hello Manish,

Source of this information is a press release: http://www.moneylife.in/article/max-bupa-launches-super-top-up-policymdashheartbeat-high-deductible-plan/23953.html

However, this product is still not launched…

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50 Nikhil March 14, 2013 at 12:13 pm

Hello,
I want to purchase family floater plan of 10 lakhs for me & my wife. Should i opt for apollo muniach optima restore or religare care ???? Kindly suggest me, i am bit confused.

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51 Manish Chauhan March 19, 2013 at 12:17 pm

Both are good options, what point are you confused about ?

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52 Nikhil March 19, 2013 at 12:21 pm

Religare is newone & it is not having all reputed hospitals in its network list but it is giving restore facility which is good than Apollo. This is the confusion.

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53 Manish Chauhan March 19, 2013 at 12:32 pm

Network list is something which will build over some months/years !

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54 Nikhil March 19, 2013 at 12:34 pm

Thanks a lot. one Question is to whom i choose for almost 10 lakhs???

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55 Manish Chauhan March 19, 2013 at 12:42 pm

If I were you , I would take Religare , because I am ok with thier terms and conditions

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56 Nikhil March 19, 2013 at 12:46 pm

ok thanks a lot.It will be very helpful for me.

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57 anurag batra March 21, 2013 at 12:15 pm

Hello sir,
I am 30 living in Nagpur. I have a New India Insurance policy “Mediclaim policy 2007 (Hospitalisation benefit policy)” of 5L. I plan to add my spouse too next year in the same policy.
Questions:
1. How would you rate this policy?
2. Addition of spouse in the same policy, is it a good idea?
3. I checked and saw there are no hospitals mentioned for this policy to take benefit of cashless claim, is this a cause of worry?

Thanks in advance.

Reply

58 Manish Chauhan March 23, 2013 at 10:30 am

1. Its a old policy .. Not sure of it in detail
2. Yes you can do that, but before that check other policies premiums
3. It might happen that the cash less facility is not ther.e

Why dont you take a new plan now and then once you get it, close the old policy

Reply

59 anurag batra April 12, 2013 at 12:33 pm

Thanks for your reply Manish.
I am skeptical about the policies provided by private firms as they may/may not last long and it involves risk.
I have started this policy last year and closing it wont be an issue as i wont lose much.

Which policy would you suggest ?
My major requirement is to have a policy which has a good claim settlement ratio.

I bought both your books via flipkart yesterday… Some very good stuff in it. Keep writing.

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60 jagdish March 26, 2013 at 12:26 pm

Hi sir, i like to now the Appllo munchi is the best health policy in the market ?.. Or sugest your choice . Is there any policy for womens maternity coverage from 1St year onwards . Please help me . Thank u sir .

Reply

61 Manish Chauhan May 6, 2013 at 4:53 pm

Do you know what are the limitations of those plans ?

Reply

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