How to choose Medical Insurance Policy ?

POSTED BY Jagoinvestor ON June 13, 2010 COMMENTS (202)

Does the premium amount guide your decision on whether to buy a medical insurance policy? No. Premiums are not the only factor to consider when buying a medical insurance policy. These factors need to be taken into consideration before looking at the premiums.

medical insurance

1# TPA (Third Party Administrator)

These days, companies have an in-house settlement process and thus do not outsource their settlement processes to outside TPA’s. Why do we need to look at a company providing an in-house settlement process? This is very much needed in the case of cashless settlements. Settlement processes are easier when handled in-house. Also make sure, that the company’s in-house settlement process is in your own city or in your own state. (TPA list in India)

Some of the General Insurance Companies having In house TPA’s are :

  • Bajaj Allianz General Insurance Company (Basic)
  • Star Health And Allied Insurance Company
  • ICICI Lombard
  • Max Bupa Health Insurance

2# Network of Hospitals

The next really important factor is the network hospitals of the company. In the case of hospitalization, the hospital that you would visit should be there on the Insurance company’s network hospital list. Not only the number, but the quality of the hospitals should also be taken into consideration.

Eg:- If you fall ill and need to get admitted, which are the first few hospitals that you would go to in your locality? Check, if these hospitals are part of the Insurance company’s network hospital list.

3# Relation of the Insurance Company with the Network Hospitals

It’s important to note, how fast the Insurance company/TPA makes the settlement with the Hospital in case of cashless hospitalizations. This is a major factor, but only a few of us understand its importance. The Insurance company may provide us cashless hospitalization, but if the Insurance does not settle the Hospital claims on time or only has a partial payout, then there’s an increasingly likely that the hospital will increase your bill to claim the amount. If the company pays the claims on time and in full, then the Hospital would not try to increase the bills as they know, that particular insurance company is a prompt paymaster.

See how your Life + Health Can be covered for less than 5% of your salary

Family Floater or Individual Cover Policy?

For people who do not understand Individual and Family Floater Policies please read about it here. Most of the people think that Family floater’s are always the best choice compared to Individual health plans, which is totally wrong. Your requirement and your situation should guide your decision, on which kind of cover, you should choose. There are many problems that buyers do not have any idea of. They do not care to read fine prints and get nasty surprises after many years and at crucial junctures. (compare Health Insurance)

Features of Family Floater Policies

  • It turns out to be cheaper for younger families and less maintenance, as there is just one single policy for everyone.
  • Limited cover for other members in the family, if one person claims health insurance in any given year.
  • The Policy expires on the death of the oldest member of Family or if he/she reaches the maximum age of renewability, depending on the policy. So other family members will need to take a fresh policy, without having the benefit of their claim history and pre-existing disease coverage that comes from the continuous renewal of the policy.
  • Only immediate family members are included in the policy, not your parents or siblings. So it does not suit people with dependent parents or siblings in the family.
  • When children turn 25, then they are not part of the policy and will have to take a fresh policy. Apart from this, any pre-existing disease will not be covered at that time.

Features of Individual policies

  • Extra maintenance of each policy separately.
  • Turns out to be generally costlier than Family Floater plans
  • Lower coverage for each family member at the same cost of a Family floater in case of a single claim in any given year.
  • There are no age restrictions on the maximum age for the members for renewable.
  • You can avail of the benefits of Loading and Discounts until the policy lapses.

Hence, a Family Floater will not suit a Family where the oldest member is in his 40’s and they are more prone to health issues. However, younger families might want to consider Family floater plans as they are less prone to health ailments and can afford lesser premiums in the beginning. Look at Harsh Roongta talking about Family Floater Vs Individual Plan in the following Video

How much of Sum Insured would be sufficient?

Do you know, what disease you could be diagnosed with tomorrow? So you can never say that Rs.1,00,000 cover is sufficient 🙂 The basic rule here, is to take whatever you think you can afford. If a person can afford to say Rs.5,000/- as the premium per year, check as to how much of Sum Insured he would get, and take the amount of insurance offered. That would be sufficient to cover at least some risk. So never think, that you cannot afford any medical insurance policy. Take what you can afford so that at least you know that you can be rest assured, that you have covered some risk.

IMPORTANT: It’s never too early to take medical insurance and critical illness policy, because once you are diagnosed with any illness, then the insurance company will have the liberty, of not issuing you an insurance policy. So take it as early as possible and have your risks covered.

Comments? What are the other difficulty or doubts from an investor’s point of view to select a medical policy?

202 replies on this article “How to choose Medical Insurance Policy ?”

  1. Ram says:

    Dear Sir, I am having Andhra Bank Arogyadaan floater health policy – plan II covering myself, wife, son and my mother for Rs. 5,00,000/- for the past 6 years. Now I am want to convert to Plan – I ( covering myself, wife & son) and take / renew another Plan – I for my mother for Rs.5,00,000/- each. Please inform whether my mother’s policy will be considered as renewal one with the same customer identity number and all existing benefits will be available or will it be a new one.

    1. Hi Ram

      This is very specific query which you should follow up with the concerned authority only. We wont be able to comment on that


  2. Anand says:

    Hello sir, me and my wife are planning to undergo a treatment for testtube due to some reasons…v bot hv bajaj allianz insurances and checked with them ..m not sure if they cover…could pls help with any insurance that helps me cover this treatment cost,? Or any suggestions to modify my current insurance plan through our employers??? Any inputs r highly appreciated….

    1. I dont think it will be covered. Its a special treatment and not related to hospitalization due to some illness or accident

  3. Surinder says:

    I have PNB-Oriental Royal Mediclaim Policy for 5 lacs cover. I am 59 y of age and have good health
    with no previous illness. I want tohave insurance cover enhanced to at least 20 lacs. Dont mind for any medical tests.
    Is any topup available for this policy . Or any other insurance co. will cover. Anyway I am going to renew it in April 2016. Pls suggest any proposal.

    1. I dont think a topup is there from the same company, but you can always buy the topup from another company

  4. Vishad says:

    I wanted to buy one family flotar policy for my parents. My father’s age is 64 years. I have reviewed plan of BOB (National insurance company). Please advise if that is the good options interms of service & claim procedures.

  5. DDSHAH says:

    please suggest me for family flotar policy my age 35,my wife age30,my son age6,my doghater age 2, and suggest who is best between online & agent

  6. Ayan says:


    I already have two Mediclaim Policies.
    One for me, my mother and my wife (flotal) – since 2yrs from National Insurance.
    Another for my father 74yr+ (single) from StarHealth. Started recently.

    Should I switch to Bank of Baroda – Baroda Health which is also tie up with National Insurance, but almost 1/3 premium.

    What should I do?
    I am more confused and worried in Mediclaim than Share market!
    I mean, Share market = Risk but Mediclaim = Life.

    Pls suggest.

  7. Nikhil says:

    I am having Max Bupa heartbeat silver policy 2 lacs for 2 adults. I have claim maternity benefit this year. The following year premium will be Rs. 9379 if we include our child as insured. I have gone through PNB-ORIENTAL ROYAL MEDICLAIM POLICY where maximum premium is Rs. 6830 for 5 lacs cover. Can we port to it?

    1. Hi Nikhil

      If you have not made any claim, then YES , you can port it , but the final decision would come from the target company only. I suggest that you talk to on this matter. They will help you

  8. Sharon says:

    I have recently taken a policy from BOI, National Swasthya Bima Policy. i wanted to know how their claim settlement process. Has anybody had an experience of the BOI policy claim settlement ? please share

  9. kamlesh M shah says:

    My age is 61, My wife age is 58 [BOTH RETIRED ] &my son 23; as per IRDA rules & regulation,what is the Best medical insurance policy.Is it better to have individual policy or flotter policy is advisable. How much amount of premium cost to by from Bank of baroda?Let me know about PNB mediclaim policy.

  10. vasantha n k says:

    Dear Sir,

    I need some clarifications from you, please help.

    My brother has taken mediclaim policy from National Insurance Company Ltd. (tied up with State Bank of Mysore for his customers) since my brother was having savings bank account with SBM. After expiry of 3 years renewal, they told my brother that they have cancelled the tie with SBM, hence, we cannot renew the policy. Policy was in force from 4.11.2009 to 3.11.2012. They have not intimated in writing about the tie-up cancellation. Afterwards, since he is having an SB account with Canara Bank, he has taken a policy from United India Insurance Company Ltd. (tied up with Canara Bank for his customers) w.e.f. 15.11.2012 and got renewed from 15.11.2013 to 14.11.2014. But he has paid the premium amount of Rs.4875 on 9.11.2012. My sister-in-law was hospitalised due Heart Attack on 21.2.2014 at Hassan and shifted to Mysore for Angiogram and Angioplasty at Mysore and totally we have spent around Rs.2.55 lakhs. Which was intimated to United India Insurance Company Ltd. on the same day. After submission of bills for claim, now they mentioning that since, you were having Sugar from past years, since policy switched over from National Insurance to United India gap of (3.11.2012 to 14.11.2012) 11 days, you are not eligible. Still we have not received any communication from them. Are we eligible for Claims. Can we approach court of law. Can you suggest suitable mode of getting the claims.

    1. First check if there is no violation of their terms and conditions .. If no , then yes – you should contact consumer court !

      1. vasantha n k says:

        Thank you very much sir.

        Can we approach Consumer Court or Hyderabad Insurance Ombundsman ?

        1. You can approach consumer court of the place where incident has happened !

  11. HARSHA says:

    Hi Manish,

    I want to buy a reliable and efficient Health Insurance for my mother (aged 59) in India. Following are some of the key requirements to be included as a part of Insurance package:

    1. On-call Doctor availability – At any point of time, 24/7, the doctor / physician must be available to visit Home. Further, regular check-ups to be done at Home

    2. Percentage of Claim settlement to be high

    3. The policy must not come with too many pre-existing disease clauses

    4. Cashless settlement even in the case of Consultation fees and medicines

    Please advice suitable Health Insurance policy along with Annual Premium rates. Thanks

    1. Hi Harsha

      I must say that you are over expecting things here, you are “demanding” things . It does not work like that. There is no policy which will fit in your requirement. Health Insurance is just a protection cover, not a facility provider .

      1. This point is hospital specific, not health insurance specific
      2. Yes you can choose a company on this parameter
      3. Again, this is not what you can demand, all the companies have a standard list of pre-existing illness clause
      4. Thats not possible

      I suggest you read this article –

  12. SONU says:

    Hi Manish,

    To bother you again –

    Suppose we have taken floater policy for Husband-Wife (2 Adults) and policy does not cover new born child automatically.But we want immediate cover in the same floater policy. Will it be allowed with paying extra premium difference of (2A + 1C) to that of (2A) immediate in same policy year or we have to wait till next renewal ? Any condition of minimum age entry is to be fulfilled in such case ?

    Thanks always.

    1. I think it can be added immediately, and you will have to pay the extra premium at the same time, but better make sure you ask for this to your insurance company !

  13. SONU says:

    Hi Manish,
    Hats Off !!! So such bundle of hidden facts & situations regarding health insurance policy.

    1) Is there any policy that cover new born child automatically ?
    2) Can that cover the expenses due to pre-born baby to keep in NICU like charges ?
    3) If yes for above, Will above expense be covered if pregnancy is due to result of IVF i.e. child is test tube baby (I know that NO policy covers the charges for cause of such birth i.e. IVF treatment charges)
    4)Min. waiting period in such policy.

    I have heard that Star Wedding Gift has some features but not sure.

    Can anyone throw light on matter as thinking for IVF… Already I have gone Hydro laparoscopy two years back.

    1. 1. No , you have to add them manually by asking to company

      2. If its covered, then yes

      3. I have no idea on that

      4. may be 2-4 yrs , depends on the policy !


  14. Naveen says:

    Hi Manish,
    I would like to buy health insurance for my family (4 lakhs, 2+2). I need you suggestion on below policy
    Religare (Premium 10226)
    Oriental Family Floater Silver (Premium 7607)
    PNB Oriental Royal medical policy (5780)

  15. srinidhi says:

    I would like to buy a Health Insurance ( family floater sum assured 2 lakhs )for my family members consisting of self (aged 24) , father(aged 64) & mother (aged 55).
    I also wanted choose Mediassist as Third Party Administrator (TPA)
    anybody suggest me which one should i select ??
    Following Banks have this option for low premium
    Syndicate, Bank of Baroda, Canara, Bank of India can i believe in above bank policy

    1. Srinidhi

      Note that you can choose Insurance company , not TPA . because TPA is choosen by health insurance company itself . Oriental is a good option to choose from.

  16. Ashish says:

    Hi Manish,

    I am planning to buy Mediclaim policy and i have zeroed on LT Insurance classic with CI included and room rent waived.

    My Queries:

    1) Do family flaoter plan tranfers the policy to the family members incase of the death of the proposer? Is this point covered in LT’s classic ?I couldnt find anything in policy wording or on website.
    If yes, wouldnt it make sense to not to go for an individual policy rather a family floater policy.

    2) Your take on company and policy, Claim settlement et al
    3) YOur take on 10% co-pay feature after 80 years.


    1. Ashish

      1. No

      2. there is a good review about the policy overall , but there are other good options also like religare Care , Apollo .. did you look at those ?

      3. I think its overall good ..


    I am 29yrs old, My wife is 31yrs old and My son is 6months old. I am searching family floter health policy for my family. Please suggest me which is the better in Apollo munich easy health stander and Max Bupa heart beat.

    Please help me by reply…………

    1. Both of them are good overall , Did you read their detailed features ?

  18. Swapnil says:

    Dear Manish,

    How good is the Religare Care Health Insurance vis-a-vis Apollo Munich Restora Health Insurance Policy?

    Your judgement would be of great value to me.




    1. Religare is a little new one .. other wise its pretty good overall

  19. Jhuma says:


    I stay at ulhasnagar which is deep central suburbs. I have not forund any hospitals listed in my city except one or two. How should that impact my decision of buying a health insurance?

    I am interested in taking up for my husband and my son.

    I was offered religare and Max Bupa but I am confused.

    Please advice.

    1. Its just a convinience issue , In case of any mishap, you can go to any hospital , and reimburse later, but for cash less facility, you can go to any listed hospital only .

  20. venu says:

    I have AB Arogyadaan medical policy since 2007 dec 17th, now I want to change my policy from AB Arogyadaan to Apollo munich optima restore or star health insurence. Is there any portability for that? please suggest.

    1. You can only get that info from Apollo !

  21. Monika says:


    My dad is PNB’s ex-employee and account holder too. I want to buy PNB Oriental Royal Medi claim policy for him and my mother for 5 lacs coverage. My dad is a cancer patient. can somebody share that what are the exclusions of this policy and whats the coverage time for pre-existing diseases in this policy.

    Please guide by dropping a mail to me.


    1. Monika

      I am sure the existing illness will not be covered, only those existing illness are covered which have chance to come again, but incase of cancer,its already there. So I dont think it will be covered

  22. Sandeep says:

    Dear Manish ji

    I am looking for one additional health (Family Floater ) insurance policy for the cover of up to INR 3,00,000/- .

    Kindly suggest which one should i select ???

    1. Sandeep

      You can look at MaxBupa or Apollo policies !

  23. SOUMEN DAS says:

    i am working with Times of India & have corporate policy from Raksha TPA.
    My wife will undergo operation (Histo/ Laproscopy) for primary infertility treatment. will it be covered in Raksha TPA.


    1. If its covered under your policy then it will be paid for !

  24. Krishna says:

    I am 37. I have presently Rs.3 lakhs for me, self and for Rs.1 lkh for my 4 year kid. I am looking at enhancing coverage to Rs.10 lakh. What is best option individual or floater and which insurance company. please advice. Thanks.

    1. There are good plans from Oriental , Apollo and MaxBupa

  25. Yogendra Singh says:

    I am working in software company and have a health insurance from Bajaj Allianz for myself and my family via my employer(software firm) of 3L sum insured.
    My wife been to hospitalized due to pre-mature delivery and delivered twins which are kept in NICU because of Pre-term born. I used my health policy for my wife’s hospitalization exepneses during delivery ( 1 Laks) and got reimbursemnt of (60k).
    Now its been 1 months of NICU hospital care of my new born baby and baby get discharged and total hospital expenses is 1.8 L for baby.
    I want to know is my new born baby will have health covergae from my exiosting policy ? can I get her hospital expenses reimbursed ? If yes what would be the approx amount of coverage possible in my case?
    Thank you

    1. Yogendra

      Obviously you will not have a cover for the new born baby , it was never covered from start , now you need to add the baby to the existing plan and dont be late for it !

  26. Swapnil says:

    I’m comparing Max Bupa Heart Beat Silver Floater with Apollo Munich’s Easy Health Family Floater plan. Which one is good for my parents aged 60 and 52.
    Sum insured – 2 Lakhs. Both are generally health without any chronic illnesses or complaints. Please suggest..


  27. Rampratap Barai says:

    Hi Manish,

    MY Financial Planner is suggesting me Bajaj Allinaz Family Floater is it the best option.

    1. Mahavir Chopra says:

      Hello Rampratap,

      Bajaj Allianz is a good product, and has a good claims settlement record. You can go for it. Ensure you take the non-network hospital copay waiver, by paying the additional premium. The policy currently is not lifetime, and expires at age 80.

  28. Dr Santosh says:

    Hi Manish,

    Query: “Medical tests before taking Policy” in age group of below 35 years

    I had read a article in Newspaper that if you are taking Individual Health insurance, then your premium would would be based on Multiple risk factors of particular cohort of individuals in that specific age group. A low risk individual premium may be say Rs 4000 & high risk would be Rs 6500, Then without asking for undergoing medical examination, saying “No medical tests required”, Everyone is put across a moderate risk & premium is fixed around Rs 5000/-.
    This would be a loss to healthy individual with low risk, and would like to ask “Are there any companies in India, which ask for medical tests & premium is then based on the risk factors of that particular individual ???

    1. Yes Santosh

      All the companies have premiums based on what is your risk , but thats mostly done if your sum assured is more than 50 lacs. only ICICI icare does not have MEDICALS for any amount , for rest of the companies there will be medicals if your sum assured is more than 50 lacs.


    2. Mahavir Chopra says:

      Hello Dr. Santosh,

      You are somewhat right. There are currently no ways created to measure and incentivise healthy people buying health insurance in India. Niether is there a product, I know, which encourages Medical tests for younger groups, and pays through incentives.
      In the West, since there is credible personal data available, there are incentives, through discounts, or better coverage provided to people.

      The Health Insurance proposal process looks for adverse details in the proposal, and hence may either apply a loading, an additional condition (like a copay, or a permanent exclusion) or worse deny the proposal.

      The benefit of being healthy is that you get a clean policy with the minimum restrictions possible.

  29. Ravi says:

    Dear Manish,
    Is there a comparison chart available for Apollo Munich Optima Restore and Max Bupa Heart Beat for reference?

    1. Ravi

      Nope .. have not done that !

  30. Ravi says:

    Dear Manish,

    I have been following your blogs regularly since sep 2011. Since then i have purchased Term Insurance, PA policy, CI policy. Now i am finally addressing Health Insurance. I would like to read some comments about Family floater plans in comparison to Individual policies on the following queries:

    1. Does a Family floater expire on death of Highest aged individual / proposer?
    2. Does a child cover be only uptil the age of 25 years?
    3. What is the minimum age for a child to get indivdual health insurance?

    1. Ravi

      1. No , the second oldest member will then become the eldest member

      2. Yes . Its because the family floater is for dependent and self

      3. Depends from company to company , some give from birth and some start from 2-3 yrs . So look at different policies


  31. Varun Pawar says:

    I have my parents who are around 55 and i was looking forward to Mediclaim policy which will cover their health related problems later.. kindly suggest what all things to be kept in mind… and i can afford 15k at present….

  32. SHAKSHI says:

    I am 58 years old, my spouse is 48, two children 17 and 20. I would like your advise whether to take individual health policies or Floater. PSU or Private. would it cover the rest of the family on the demise of the eldest?

    1. Mahavir Chopra says:

      Hello Shakshi,

      Individual option is better, but turns out to be very expensive. Go for a good floater cover of minimum Rs. 5 Lakhs sum insured.

      You have various choices from Apollo, to Max Bupa to Oriental Insurance. Please let us know if there is any medical history or condition for any member. The choice of PSU/Private etc. would depend on various parameters including your budget.

      Floater continues, even after death of the eldest.

      Also, ensure you take time out to find the right adviser who would provide you unbiased advise as well as end-to-end service including claims.

      1. SHAKSHI says:

        Both my wife and I are on minimal hypertension medication. No other history.
        lifetime coverage is preferred. Please suggest best policy and also right adviser.

    2. Shakshi

      the new plan from Apollo looks good .. have a look at it

  33. sourabh says:

    Is it better to buy health insurence from private companies or government?
    Which companies have good claim settlement ratio?
    Is it all insurence companies will sanction claim if someone have problem every year? Do they charge additionaly?
    What about the the rules and regulations on which basis companies rejecy claims?where can we see those rules?because companies reject on very stupid reasons If someone crossing road and got accident they will reject saying he was not crossing by zebra crossing likewise they dont sanction if twowheeler has got accident on 4 lane road?
    I want to see all those hidden rules and regulation?Is there is any control on there rejection of claims..?Does IRDA allows such rules?

    1. Sourabh

      Most of the companies have loading provision if there is a claim , so your premium increases . do see IRDA report for claim settlement

  34. Mohankumar M says:

    My dad is 61 n mom 50.
    Iam 28 n wife 23 now iam thinking to have health insurance policy for us.
    Iam an account holder of Canara Bank n United India Health Insurance is available for me since it gives cover for age upto 65.
    Is it a good policy to take up plz suggest.

    1. Mohan

      We will publish an article in few weeks .. you can ask this question on that.. or else ask it on our forum :

  35. Dilip says:

    Hi Manish,

    Its really great to see you all are helping people to clarify their doubts regarding health insurance.

    I’m also planning to buy a medical insurance and would like to seek your advise for the same. I have a medical insurance from my Company with 3 Lcs coverage for me, my wife but it does not cover my parents (my parents stays in different city). I’m just confused about different health insurance policies and not been able to decide whether I should go for a policy which covers the whole family (including parents) or take it only for my parents.

    Please help me out to choose the right policy.

    Thanks in advance.


    1. Dilip

      There are policies from MAX BUPA and Oriental health insurance which you can look at , contact for a detailed suggestion ..


  36. Mahavir Chopra says:

    And yes Suresh,

    Hope you are aware of the Action Month, and being a part of it. Let’s push ourselves to action.

  37. Suresh K Narula says:

    Dear Manish,

    I have been getting insured from my employer group medi-claim policy for myself, spouse , two children and parents since 9 years for sum assured to the tune of Rs 2. lac to 2.50 lac. Since, it is time to renew the same, I would like to know to you main features to be considered of that policy are maximum 60% of the sum insured can now be utilized for the parental claims.

    The co sharing for the claims will be as under:
    Parental claims – 15%
    Maternity claims -15%
    Other claims -10%

    Moreover, this time annual premium is two times over from outside insurance company(Apollo Munich). Further be noted that, being central govt retired my father and mother may cover from CGHS scheme while paying a life time lump sum premium of Rs 27000(approx) with unlimited sum assured with lifelong.

    Please advise me, may I opt for Apollo Munich floater policy for my own family instead of taking employer’s policy. If no, How can I consider for the same.

    1. Mahavir Chopra says:

      Hello Suresh,

      Yes, this is the reality forward. Copay, Surgery Limits, Claim Limits would be added by your employer, to ensure the premium paid by them meets their internal budgets. We foresee Large no. of parents would be left uncovered or under-covered in 5 years time, with no Insurance Co. interested in providing them Mediclaim.

      With Healthcare inflation rising by 20% in India, its high time, you need to have your own Mediclaim, to be in control of the risk cover of your family, specially your parents.

      Regarding selection of product, we would suggest you first take time out in selecting a good mediclaim advisor, who will provide you unbiased advice and insights on various products, and also provide renewal and claims service.

  38. Vishal says:

    Hi Manish,
    Thanks for giving such a wonderful information about health is almost 2-3 months I am exploring the health insurance plans of Nationalized companies as well as PVT players.

    In beginning I was more inclined towards Govt Heath Insurance companies like United, Oriental but I am also impresses by Pvt players like TATA AIG wellness and Max bupa.

    The good thing I find in Tata AIG wellness plan is that they even cover individuals with Good Amount in Family Floater also. Like Father and Mothers are covered upto 6 lac and Children is cover up-to 3 lacs in Small Premium of 9 thousand annually.

    And I find Max Bupa Health insurance has nice feedback.

    Still very confused about which policy to take. But have clear in certain things like

    1.) It should be lifetime
    2.) Family Floater is better

    1. Mahavir Chopra says:


      Tata AIG has defined benefit products which are supplementary to Traditional Mediclaim. Max Bupa’s Family First is certainly a good product, but there are many others like Oriental Happy Family, Bajaj Family Health Guard etc. you can consider.

      Ensure you have a good mediclaim advisor to help you buy, and service your policy for renewals and more importantly Claims.

      Please spread the word regarding Action Month to more people around you. Push people, move them out and encourage them to ACT NOW.

      Mahavir Chopra

  39. santosh says:

    can any one tell me which medical insurance policy dont charge loading charges?

    1. Santosh

      There is no company which does not have loading charges . And why should one not put loading , its a valid and obvious thing to be charged from business point of view . If some one is not in normal health , then there has to be loading !


  40. raj says:

    1. I understand that a health policy taken through a Bank is a Group Health policy? Then what happens if the contract between Bank & Insurance company terminates?
    (a) The pee-existing cover is transferred i.e. is taken to One’s next Policy from same insurance company? OR
    (b) Loose all the benefits incurred till that date & Start afresh.

    2. Is it possible, there could be difference in coverage aspects between policies taken from same Insurance Company through an Agent or BANK AS AN AGENT?

    3. What about portability differences of these health policies? (Same insurance company but one purchased through an Agent & other through a Bank (as an agent))

    4. Why such a huge difference between premium of Policy taken through an agent VERSUS Policy taken from BANK (as an agent) from same insurance company?

    Regards and thanks

  41. aadarshh says:

    which companies are offering unit linked health insurance polices…how do u rate these policies?

    1. Aadarsh

      They are again same old thing in new bottle , its “unit linked” . Not recommended for a common man


  42. Adesh says:

    hello Manish,
    I was searching for this topic recently on net and i got it here..very nicely presented..i want to take mediclaim policy for my parents in 50’s…
    which mediclaim will be most suitable as there are few in top MAX BUPA, Apollo Munish,Star health,National Insurance to name a few good ones.
    Every policy has something or other missing..some is not giving cashless facility and other is having too much waiting period..too much confusion..
    please guide me on this one..your guidance is highly appreciated…

    1. Adesh

      As you said , not every policy is complete . So you have to find out which comes closer to your requirement .

      1. Dr Adesh says:

        hello manish,

        thanks manish for ur response which is so well crafted that it caused me to look up the policies again and i found Max Bupa the best policy beyond 55 years age group..bit costly but honestly saying, for parents i can do that.
        thanks Manish..God bless u.

        1. Max Bupa is a good one . I recommend it , a bit costly , but they seem to have most of the things covered . the probability of not getting satified is much samller 🙂

          Are you around NCR ? we have dhawal sharma in delhi who can be your agent ,a nice guy .


          1. Dr Adesh says:

            ya i live on NCR region..i live in gurgaon.

            1. Dr Adesh says:

              i already got Max bupa..thanks for ur support.
              keep sharing ur knowledge.
              good luck.

  43. Hemal Mehta says:

    Hi Manish,

    I hv bought BOI Swasthya bima policy for my parents, just want to know is this a gud option and is it covering any critical disease…. thnx in advance….

      1. Hemal says:

        Manish, I dont know why but i m not able to write in the forum…. i m not able to get registered… Can u answer it here itself…. thnx in anticipation

        1. Hemal

          I have created an id and send the password to you

  44. prajith says:

    Hi mukesh,
    I ‘m looking for a health insurance policy for my family. My age is 36.I ve come across a policy name ICICI hospital saver which we need to pay 5 installments of 25000 and it will cover upto the age of 70 But now they have stoped this one.please suggest is there any policy similar available as well as is there any draw backs for this kind of policies. Please suggest me if you have a better one

  45. mukesh says:

    hi manish,



    1. babu says:

      Hi Mukesh,
      Thanks for the good news, which unfortunately has been in the backburner for long. Even in developed countries, this remains a challenge in some form or other. Portability is now being proposed only for select coverages and select sum assured, targeting the socio economic poor segment. It would take much time before complete portablity comes through. So, it is imperative for the health insurance buyer to select a good policy at first instance.

  46. Amit says:

    Query 1.
    Can health insurance sum be increased after a few years?
    Say today I take up a policy of 5Lacs, which I think is sufficient for me today. But, after 5 Years due to increase in Medical Costs 5Lacs wont be sufficient, so after 5 years can I increase the sum to say 10Lacs in the same policy without losing the benefits I have earned in the first 5 years, like after 5 years I would be covered for most of the diseases which wont be covered in the first or second year.

    Query 2.
    Say I require a health insurance of 6 Lacs.
    So would it be a good idea to buy say 3 Policy each of 2 lacs, to mitigate the risk of some company not providing certain benefits which another provides.

    Also If I go for the case above, practically is it possible to settle claims from all three policies at the same time, say at some point of time I require a claim of Rs.5lac for some single hospitalization?

      1. mukesh says:

        hi manish,
        i m a great fan of u. thanks for so much of knowledge,
        i m planning to buy pnb royal mediclaim, but , two points are to be cleared.

        1. it has critical illness cover included or not.
        2. premium will be same till last or change every year.
        if u wanna suggest any other better than this ,please do tell

        1. Mukesh

          1) Anything which requires hospotalization is covered .
          2) Its not fixed, its a annual contract and it can be revised later


          1. mukesh says:

            hello manish,
            i wanted to ask premium will be same means, as in some of the company, premium is calculated as per age slab like they have divided premium rate
            20-35age ——premium xyz
            35-45 age—— premium xyz+somemore
            45-55 age—— premium xyz+ much more
            as i saw the prospectus of pnb oriental insurance, it is showing same rate for all age groups, so please get me know, if u please also suggest is it good

            one more question is it any difference to buy health insurance from oriental( high premium ) directly or through pnb-oriental( less premium)..
            will it make any diff.. in services.

  47. Pankaj says:

    Hi Manish/Dhawal,
    Thanks for the wonderful writeup and also to answer the posts and queries posted by other users. Keep up the good work!

    P Gera

    1. Pankaj

      THanks 🙂 .

  48. abhijeet says:

    i am 45 and have a family floater from bajaj allianz for 3lacs from last 2 years..i want to switch to apollo as it is cheaper , has extra benefits, and also provides PORTABILITY option i.e. they cover all the yearly benifits(like 2 year exclusions, preexsisting etc)that i enjoyed with my earlier insurer…does it make sense to switch….???
    Is Apollo TPA claim settlement as good as others

    1. Abhijeet

      I dont have that much information on how Apollo TPA is doing, you might want to find it on net .


  49. abhishek says:

    My insurance agent has informed me that in a family floater policy ( by any company) only 50% of the claim amount is reimbursed as compared to an individual mediclaim policy where 100% claim amount is reimbursed.

    Also ,premiums for individual polices are higher and additionally one gets a no claim bonus in an individual mediclaim policy.( no claim bonus adds to the sum assured).

    …is this true?????????

    1. Dhawal Sharma says:

      ABSOLUTELY FALSE…Nothing of this sort is there with any of the MEDICLAIM policy..Yes, there is a factor called CO-PAY which means policyholder too is required to pay certain portion of the bill but that portion is not 50%..CO-PAY is applicable only in case of elder citizens, mostly above the age 65…No claim bonus gets added up, if you make no claim in any given year, whether it is an individual policy or family floater..

      What must be going through your agents mind is that if you have 4 family members, then instead of giving you one FAMILY FLOATER POLICY, why not sell you 4 INDIVIDUAL POLICIES and make more commission, thats all 😉

      You can check out the premium for individual as well as family floater for MAX BUPA on the following link and see for yourself the so called DIFFERENCE..

      1. Dhawal

        Thanks for contribution 🙂 .


      2. abhishek says:

        Hi Dhawal /Manish

        I called up the National Insurance office today and enquired about there FAMILY FLOATER MEDICLAIM POLICY.

        They informed me that during the policy year only 50% of the claim can be reimbursed to the family member and balance is kept as a reserve for the rest of the policy year for other family members .

        pl comment

        1. Dhawal Sharma says:

          @ABHISHEK – Yesterday only, i met one of my client having family floater for himself, his wife, and two of his sons…and the cover of 2 lakhs is divided in the below mentioned way
          FATHER – 75,000
          MOTHER – 50,000
          SON 1 – 45,000
          SON 2 – 30,000

          This is just another way of putting CAPPING on the cover amount..That means if the FATHER is in need of mediclaim for any given ailment/accident, he can avail only upto Rs 75,000 even if he has to incurr expenses upto Rs 1,00,000..Yes Abhishek, in this way, your policy is really limiting and will be settling your claim for less than or equal to 50% of the claim..THIS IS PURE & SIMPLE LOOT by these PSUs in the most BLATENT & BIZARRE MANNER..

          There is no such sublimit in private mediclaim companies..Take for eg; MAX BUPA..If an individual has FAMILY FLOATER for 2 lakhs and God forbids, if he is admitted to the hospital, he can avail services upto Rs 2 lakh and not limited by catagory put in as in above example of Oriental Insurance….

          Really-Really Bad and sorry for you ABHISHEK if you have such policy..My advice is THROW it right away because it is already of no use to you if some emergency befalls you..Look out for better options; there are plenty now a days in the market..

          1. abhishek says:


            Thanks for your prompt response.

            Currently, I have an individual mediclaim policies and after reading through this blog I found FAMILY FLOATER more suitable and so I have been enquiring!

            One more issue I have been told is that PRIVATE INSURANCE COMPANIES are RELUCTANT TO RENEW mediclaim policy for policy holders who are suffering from diseases like cancer etc because they know that they have to pay the sum assured. PUBLIC INSURANCE COMPANIES on the other hand dont hesitate to renew.


            pl comment

            1. Dhawal Sharma says:

              @Abhishek – There is nothing of that sort to worry about…What about the PRACTICAL PROBLEM currently going on where all of a sudden PSUs stopped CASHLESS FACILITIES..Its not that PUBLIC SECTOR INSURANCE companies are out there to serve society at large 😉 ..There is always an element of profit making, be it PSUs or PVT companies..You may have come across 3 to 4 such cases but then there are lakhs of policies issued and serviced every year and there is certainly a possiblity of a few getting dissatisfied but same is the case everywhere, be it PSU or PVT company..

              As far as the renewal point of yours, go for Max BUPA..[sorry that i bring up Max BUPA at every given point cuz i am an agent of MAX BUPA 🙂 ] ..In the product broucher, it is clear mentioned that ASSURED RENEWAL FOR LIFE..So no matter if the policy holder develops any illness/problem, even then his renewal is guaranteed..Check out the link…


  50. RAM says:

    This is a wonderful space and got a lot of information. Recently came across Aegon Religare Health Plan and was wondering that nobody seems to have mentioned about it. I am 35+ and with a family of 4 (Spouse and 2 kids). I am finding it difficult to chose between the Apollo Munich Premium and Aegon Religare Diamond Plans. Dont know if I am spending too much for a cover around 10L. Is it worth it?

    1. Ram , Aegon Religare Health Plan looks good at a quick look , you should compare them on things which you want really , not on just things which they provide .


  51. Murali says:

    My question is similar to one asked earlier in this chain but not been answered. Suppose one has a Group Health Insurance with their company (say 2 L) and also has a medical insurance from another provider (assume for 2 L). If the medical costs are 3 L, how can this amount be claimed? I think Aegon Religare is one provider that allows you to claim again (using copies of bills) but do the others also allow this?

    1. Murali

      generally the insurance covered is divided between the insurers , so your insurers will divide 50:50 if their share is 50:50 .


  52. saurabh says:

    Thnx Manish and Dhawal

    I understand that an Insurance company has agreements with many TPAs. So if I am not satisfied with a TPA’s service, can I change it when I’ll renew it next year? e.g. National Insurance has agreement with Vipul, Paramount, TTK etc…Now if in 2010 I have Paramount as my TPA, can I change it to TTK in 2011 if I am not satisfied, keeping the policy with National insurance only.

    Thanks to clarify once again.


    1. Saurabh

      I dont know that , but I think it should be possible to do that if they have tie ups with many TPA’s , the people person to tell you about this is company itself , did you try customer care of health insurance company ?


  53. Dhawal Sharma says:

    no, you can’t change TPA..its the parogative of the insurance company, not the policy holder..TPA and insurance companies are already in agreement for so many they can’t change it for a few policy holders.

    1. Dhawal

      thanks for the info , Is this documented some where or you are telling this out of your experience ?


  54. saurabh says:

    Dear Manish

    is it possible to change TPA while renewing the policy? Thanks


    1. Saurabh

      thats a good question , however i am not sure 🙁 . Anyone ?


  55. Martha says:

    I have mediclaim from ICICI lombard provided by my company for 1L. As you know this is not sufficient, I am planning to buy additional cover. I have following questions:
    1. Is it advisable to buy additional cover from ICICI-Lombard or chose the better one
    2. Is there any company provides health cover for the ‘New-Born’ baby?

    1. Martha

      You should compare the cost and benefits of other providers and take decision , how can some one tell which mediclaim is better for your situation ?
      Also I am not aware of any policy which covers a new born baby , There is high risk with a new born baby in term f mediclaim and its very logical to not cover it for normal premium , Even if they are covered , the premium will be very high .


  56. ABHI says:

    Hi Manish,

    Please add ” Max Bupa Health Insurance” to you list of
    the General Insurance Companies having In house TPA’s


    1. Abhi

      Thanks for the update , I have added it .


  57. Rupali says:

    Hi Manish,

    I m covered with the Company Mediclaim whrein i am liable to pay 10% medical expenses and rest is by company. As a rule its never too early i m thinking of mediclaim and i recd call for HDFC ergo which has following features and the monthly premium is around Rs.376 and yearly 4512. i think its family floater but as i m single yet what should i prefer. Pls suggest and for what more features i should i ask for? Whether to for invidual and Family floater. Should i go for this orelse search for others.
    Covers Self, Spouse, Children & Family Floater
    2. Hospitalisation Cover 2 Lacs
    3. Pre & Post Hospitalisation Expenses 60 days Prior and 90 days Post
    4. Personal Accident upto 10 Lacs
    5. Hospital Cash Rs.1000/- Per day ( Max of Rs.30000/- for 30 days) Only to the seniormost adult in the Policy
    6. In Patient Treatment or Specified Day Care
    7. Ambulance Charges Upto Rs.2000/-
    8. Covers Domicilary Treatment
    9. Covers Non Allopathic ( Ayurvedic & Homeopathy ) Upto Rs.20000/-
    10. Organ Donor expenses covered
    11. Pernanent Total Disability Cover of 12.5Lacs

    1. Rupali

      You should not take family floater if you are just 1 person , the benefits is something you should be deciding , no one else on your behalf can decide that for you .


  58. Neeraj says:

    Nice article. I’m also in the process of finding a suitable mediclaim policy for my family. Though I’ve cover provided by my employer, but this year when we renewed the policy, the premium amount was almost double as compared to last year (around 18K for a family of 5 for 4 L of family floater). Would like to see people sharing their views and recommendation about Mediclaim policies specially for the senior citizens.


    1. Neeraj

      Almost double ? DId you guys have any claim in this year or anyone developed any disease in between . Did you try to get some reason from company for increase in premium ?


      1. Neeraj says:

        Well, the insurer says that major reason is manyfold increase in number of claims.

  59. surya says:

    there is life insurance & health insurance…but do we have any policy that covers life if you are unable to continue work & earn…health crisis or permanent disability due to accident or a coma or stroke…yr life insurance for which u paid thru yr nose will say, you are alive …. yr health insurance will treat you to a certain extent & will vanish……unfortunately you have paid, planned for calamities like death & illness but not for this…
    consumer illiteracy on this is helping insurance companies go scot free without providing any such clause…IRDA & SEBI needs to look into this…not only turf violations regarding ULIPS….

    1. Surya

      What you say makes sense, Accidental rider solves this to some extent but not fully . It will cover a person if a person becomes partial or fully disabled .


    2. Tushar Khirwadkar says:

      What you have mentioned makes a lot of sense and the need to insure this situation is of more importance than death (as you will have extra expenses of total disability of the breadwinner who may not be the breadwinner and all regular family expenses will continue in future).

      I am also looking for such Insurance coverage and found Tata-AIG’s Income Guard policy that fits this need to some extent and good part is it can cover family as well (as any other member of family would also need to be insured for disability).

      Though there are quite a few things in this policy that are not clear (I have sent email to Tata-AIG to clarify the same). I am also trying to check if there is any other good option to this policy.

      Manish / All other Jagoinvestor readers: Please provide your inputs on any other good poalicy available?

      Regards, Tushar

      1. Tushar

        I will come up with some reviews , but it will take some time 🙂


  60. Rahul says:

    Hi Manish, thanks for responding
    The existing policy is with new india assurance, and i am looking for a change as i have read complaints about the TPA online and the last time i saw at Indian Spinal Injuries Centre that they don’t accept raksha TPA( was considering for some treatment for my dad). So i started thinking that if such good hospitals are not on its panel then what’s the use. And as it is time to renew for my parents and for me to get a separate policy after turning 26 now, i would like to compare and shift to better options.

    1. Rahul

      In that case its a good choice to go for seperate policy and change it . Make sure the coverage of hospitals is nice and spread across city .


      1. Rahul Bajaj says:

        Ya that’s the conclusion i also came to, but which one is better ? out of the choice we have got.


  61. Rahul Bajaj says:

    Hi, I plan to buy a new policy for myself. Please suggest the better ones in the market now, How is maxbupa , apollo munich and starhealth ? i have a 30 % no claim bonus which can be transferred from the old policy which was part of the family floater plan. Also i want my parents to change their policy from new india insurance to a better one, please suggest on that as well. they have a 50% no claim bonus. Also can only 20% be transferred from the old policy to the new policy ?
    It will be also great if i can talk to someone who is more knowledgeable about health insurance industry, as its difficult to get the truth out from the agents.

    1. Rahul

      What are the existing issues with your current policy and why you want to change ?


  62. dr kishan says:

    good that u picked up this issue. its very necessary that the indians are enlightened about this topic. the video was very educative and helpful. shyam’s suggestion regarding taking mediclaim by banks is really a commendable one.
    in this matter please elaborate what are the disadvantages of taking policies like health protection plus of LIC and similar unit linked health policies. one advantage i know is that the premium doesn’t change over the years as it would in other plans. secondly the money which we give is linked to market which makes it work for us as compared to the other policies where the money is just utilised for the health insurance.
    are these type of policies very costly as ULIPS are ? are there any other disadvantages? please elaborate
    can we take the risk of paying a costly premium for the probable benefit of our money growth? isn’t LIC more dependable than other institutes with respect to claim settlement?
    ur comment is eagerly awaited

    dr kishan

    1. Dr kishan

      wait for more articles, I would write more in future.


  63. Seema says:


    For those persons who are suffering from some disease already,will it be a good idea to build a corpus for medical expenses through mutual funds?Should profit-booking be done regularly in such case to build a corpus for emergency needs?

    1. Seema

      It would be a good idea to build corpus for old days , Health insurance companies wont provide coverage for those , and even if they do , it would cost too much .

      Its not advised to time the markets and liquidate the money , better let it grow .


  64. mukul says:

    another thing is that, if a bank is providing a policy like bank of baroda or andhra bank are then premuims are less compared to others. check the premuims for arogyadaan scheme by andhra bank. family floaters are cheapest so far by what i have seen.also bank of baroda is good but i could not check the premuim seems even axis bank is providing critical care (bajaj allianz is their partner in it).check it out guys for others details.

  65. Mukul says:

    Good to see that you keep your word. I really appreciate that.
    I agree with what Pattu has said by checking on sub-limits.

    All the providers more or less offer a cap of 1% or 1.5% of Sum assured for room charges etc.
    These caps can handicap a family when it comes to settlement of bills. Check any decent hospital and you will find that a private or semi-private room cost 2500.00 more or less (am taking a and b cat cities)so 3 lakhs cover with such a limit makes no sense.
    also there is limit on ICU is usually double of the charges mentioned above. Again ICU charges in any hospital can be more.So it makes sense to read it all and do calculations before hand.

    I found the offerings from United India and Royal Sundaram to be very competitive. Also Max Bupa was good.

    I am of opinion that in addition to a family floater one should go for critical illness cover.The premuims are very less.I checked the one with Bajaj Allianz.

    I have one doubt here. If one has more than one health policy, and if he incurs expense more than single policy coverage how will it be treated.

    1. Mukul

      In that case its distributed amount the insurers in the ratio of cover .


  66. Shyam says:

    I have taken Apollo Munich’s Family floater plan, I have paid two premiums(yearly..), I have not yet claimed. The hospital chain provided by them is good, and they are also having in-house TPA.
    There is any age limit for this mediclaim policy, i.e one advantage I see.

    1. sarita says:

      Nice one

    2. Murali says:

      Apollo Munich depends on a TPA (Family Health Private Limited (FHPL)) and claims are not dealth in-house. I too have a Standard Plan from them that I took recently.

  67. Saurabh says:

    I want to have your suggestion regarding ICICI Health Saver. I have taken it for my family and am paying 15K / annum for Rs 2 Lac. Hows it?. Its Linked to the Market.

    1. Saurabh

      Basically its a ULHP it seems . We dont recommend Market linked products . more analysis is required 🙂


  68. Abhiit says:

    Hi Manish,
    My company has provided me Medical policy of TTK for my self and my dependents and cover is up to 5 Lacks per annum, I am 25 years old now. Do I need to go for separate medical policy ??

    Please suggest.


    1. Abhiit

      TTK is just a TPA , health insurance company will be some one else .

      5 lac cover is a very good cover , just make sure that the policy fulfils your need or not . I think you can do with company cover for now 🙂


      1. Anunay says:

        Fine that company has provided the health cover but what when you leave the company and join another company after 15 years, or you retire? entering late for a health cover will not be costly? will not insurance company demand higher premium if you enter late and god forbid if we suffer from any disease like BP, diabites etc. In my opinion its always better to have self financed family floater policy in addition to cover provided by our employer.

        1. Anunay

          While what you say is true, I said that “for now” he can do without Seperate cover ,reason being that he is adequately covered for now .

          As you said , his premium will he higher later , but for these years he will also save on premiums. Not getting a seperate cover is desiarable and a good option. however I what I meant was that he can do with this existing company cover for now .


      2. Manoj says:

        Dear Manish

        The suggestion you have given for continuing with company policy, is not apt for employees. Suppose the person parts with the company, GOD forbid, if he needs medical help, then either he has to bear the brunt of high fees or even if he goes for some policy at that age, the pemium would high as compared to that if he takes at yonger age.
        Its always advisable to take a personal health cover even if the company is giving so.


        1. Manoj

          Its generally advisable always what you are saying , even I suggest it generally , however in real life , its very rare that a person leaves a job , sits at home without a job for some months and then join another job , so even though there can be few days of gap and there is risk involved there , its a small one and depending on a person risk capability a person can take that risk , only if a person is adequately covered with company policy , no compromise on the amount of cover .


  69. Nilesh Panchal says:

    Selecting a Mediclaim Insurance Policy is definitely one of the important task, because like Life Insurance Policies there are now many competitors in the market offering this product with little bit of variants. One of the important point to note is about the Co-Payment. There are few companies who requires to pay a Co-Payment before they settle the claim and this amount varies from 5% to 20% from company to company.

    Mediclaim is also offered by Life Insurance Company which comes at a high cost.

    1. Nilesh

      Co-Payment should be taken as a positive thing I think . Its just to make sure to keep a check on the claim amount, a lot of time people dont care how big it is as they dont have to share any amount .


  70. Manish says:

    Can u give some detail on Health Insurance rider with Term insurance………?

    1. Manish

      What exactly u want to know , there are many riders like Critical illness or waiver or premium riders with term insurance .

      1. kavita says:


        I am 64 years old and want to buy a Medical insurance policy for myself. I have no medical history except for BP. I have gone through a lot of policies for health in the market but not able to decide which one to take. Please suggest me on this.


        1. Hi kavita

          Thanks for sharing your health insurance requirement. I think the best think you can do is leave your details at . And you will get a expert assistance on selecting and buying the right policy for you.

          You can then take the decision.


  71. Sagar Pednekar says:

    Hi Manish,
    My company provides me Bajaj Allianz Medical Policy from last 2 years and there settlement record is very good no complaints from any employee.
    Our previous Govt. Medical insurance track record was very bad, claim not settles.
    I personally suggest don’t buy govt. company medical insurance policy.

    1. Sagar

      There are mixed reactions , some people like Govt companies, you might want to debate with Pattu


  72. Raja says:

    Hi Manish,

    I had sent you a mail with subject line ‘Enquiry about your CFP services’ from the same email id as mentioned here on last Sunday afternoon.

    Can you kindly revert.


    1. Manish Jagtap says:

      Is there any reliable website where we can read reviews or customer feedback of various Health insurance companies? Whether there are frequent customer complaints or not?

      1. and are two sites where you can read reviews and complaints 🙂


    2. Will mail you soon .


  73. Rakesh says:


    I am satisfied with National Insurance Company though they took over 2 months to settle my claims. Also had a good experience with TTK.


    1. Rakesh

      Nice to hear that 🙂 . TTK is known for good service and National Insurance is one of the best in general insurance companies .

      Which policy do you have , please share .


  74. Ashwini says:


    As NRI’s do you suggest we go for a medical insurance in India…currently we do have a medical insurance cover in the country we reside..As of what i know(correct me if im wrong)all critical illness and other medical insurances have a term of max 5 yrs in India…so guess it wud not make sense for us to buy a medical insurance at this point of time as we do not have ne plans to settle back in India in the near future…

    Please let me know your views on this and if there is any other medical insurance which covers you for 20-25 yrs

    1. Ashwini

      Yes , it would make sense to buy Health Insurance in India from cost point (have to find more) . also you can always renew it every year or after two years , Have you come across policy which you can take just 5 yrs and then not renew it ?


      1. Ash says:

        No have not seen any such insurance which is not renewable given my age…But guess these medical insurances have a age limit till which they can cover.
        So you are saying,if we buy it now and keep renewing it after the term gets over the premium cost will be much lower….But,even if we renew it the cost will definately go higher as we age/ if we have ne other medical illness(at that time) …
        If i buy insurance now,will be away from India,will not avail the insurance …pay premium and again renew it at the end of term……..
        Will the diffrence between the premium of Renwed insurance and fresh insurance be the same or lower .(after a period of say 5 yrs)

        1. Ash

          Definately it will be different . Its like term insurance , If your premium is Rs XYZ today , then even after 3 yrs it will be same as Rs XYZ , but if you take it fresh after 3 yrs, the premium will be Rs XYZ + something .

          Definately taking insurance early will help you in premium part 🙂


          1. Anunay says:

            I have a point here, in term insurance same premium is guaranteed till the policy expires/matures, however in health insurance premium can change everyyear and premium rate is guaranteed for 1 year only in most cases.

            I had Reliance healthwise policy issued last year in which i paid Rs 3900 for 5 lac cover for family floater which included my wife, now at renewal they are asking for Rs 13600/- this year. yesits not spelling mistake they are asking for Rs 13600 i.e. around 4 times of last year premium rates.

          2. Ashwini says:

            Hey ,thanks a ton for your responses ya…really luv your site…its really very informative for newbies like me 🙂 have been reading your archives and glued to your site in free time luvin it 🙂

          3. Ashwini says:

            Hey ,thanks a ton for your responses ya…really luv your site…its really very informative for newbies like me have been reading your archives and glued to your site in free time luvin it

            1. Ashwini

              Great to hear that, be in touch .


  75. shyam says:

    Hi all,

    with respect to medical insurance its better if we take the medical insurance from banks rather than directly from the insurance. The advantage is that the insurance from bank will be like group insurance and that keeps your premium very low compared to if you take the policy directly. you need to have an account in the bank in order to take the policy and the premium will be paied through your bank account. check the banks like 1) bank of india 2) bank of borada(best for senior citizens because they will give policy till 80 years) and indian overseas bank. in order to maintain an account you need very less amount also unlike private banks where you need to maintain certain amount quarterly. check out!!

    1. Shyam

      But how do we buy from Banks ? Health Insurance products can only be sold by General Insurance or pure Health Insurance companies . Do you buy from Banks ? Its not possible .


    2. Shyam says:


      The banks have developed co-branded insurance products for the account holders. e.g. Bank of Baroda have the tied up with National Insurance to offer”Baroda Health” (Mediclaim Insurance Policy)” for their account holders

      In the case with Bank of India it is “BOI National Swasthya Bima policy is a unique Health insurance Policy designed especially for the Account holders of Bank of India. The entire family consisting of the account holder, spouse and two dependent children can be covered under this policy”

      Please see the links for details:

      I have taken the BOI National Swasthya Bima policy for my mother. The good feature I found is that the premium is very low compared to if you take the policy individually from these or other insurance companies.

      Let me know your thoughts!

      1. Shyam

        This is a very good idea , I didnt knew about this thing. Its like a specia product designed for a class of people . Will have to study further on this . Keep us posted on these things 🙂


      2. mukul says:

        Andhra bank is also having some health policy

        1. Krishna says:


          Even Canarabank provides the Mediclaim Policy in partnership with United India Insurnace but the premium wise Bank of India is the cheapest one. I have downloaded the Document of Canarabank I can provide if anyone needs it.

          1. Jithesh says:

            Following Banks have this option
            Syndicate, Bank of Baroda, Canara, Bank of India. NMGB (small bank in north kerala)
            You need to be account holder in any of branch.. Fact is many bank managers of these branch does not know of these policies 🙂
            I went into canara, and Snr Mgr /Chief Mgr had no clue and confirmed there is no such policy where as it was there as per their website. So do you homework well.

            Within these there are 2 types 1) One covering member and family 2) One covering family (wife and children) + Dependent pararents. As said before premium is low compared to buying directly.

            Some of these policies has built in accident protection. So in unfortunate death, they pay a percentage of sum assured depending on relation (bank acc holder – 100%).

            There is also another cheap policy 450 Rs premium for 30K Rs coverage by most of the general insurance company but cap for each time is 5K. Though this is not a good option, one with extreme tight situation (money wise) can take this but for around 900Rs we can get 50K coverage pa on any of the above policies though.

            1. babu says:

              check out Punjab National Bank Policy called royal mediclaim in association with Oriental Insurance. Details are available in my website. This one offers floater cover upto 5 lacs and entry age is upto 80 yrs[Bank of baroda entry age is upto 65Yrs–but cover upto 80yrs]. i am an advisor and i feel this is the best health policy till date. but portability is the issue. what if the bank chose to close the policy after some years. The waiting period cannot be ported to the new policy. We are awaiting the portable health policies.

            2. babu

              Great . Thanks for the info 🙂 . Can you give examples of other policies which are portable .


            3. Sohil says:

              Even our family has a floater mediclaim insurance of oriental insurance…
              Its via jagruti club…which gives insurance to needy people who cant afford…
              Their maximum coverage is 1 lakh rupee per family for 6 members…though a basic skeleton is shown but most of it doesnt follow and can still use the insurance
              The amount is 1750 for whole family…Its via RAksha TPA

            4. Thanks for providing your information , keep commenting

            5. premal says:

              how one can avail insurance through jagruti club???

            6. premal says:

              kindly send me details of jagruti club thank u

            7. Jithesh

              Thanks for the information , I am sure there will be people for whom it would be beneficial .


          2. deepaliaggarwal says:

            yes please provide 4 me

      3. Dhawal Sharma says:

        Sorry for being so late in commeting to this thing 🙁

        Dear Shyam, i was just going through the broucher of SWASTHYA BIMA YOJNA for BANK OF INDIA customers from NATIONAL INSURANCE and wants to bring certain HIDDEN FACTs from policy to you, more so because you have taken it for your mother..
        1) First thing, it says coverage upto the age 85 with 25% LOADING of premium..Loading is extra amount which you would have to pay, come what may..So it may sound reasonable and low premium but it is bound to INCREASE and become EXPENSIVE 🙁
        2) Cashless facility in NETWORK HOSPITALs through TPA..As you must have seen or read now a days in newspapers, these PSU companies have stopped cashless facilities in TOP-END Hospitals like MAX, APOLLO, ESCORTS etc..So God forbids, if you have to take your mother for any kind of treatment, these hospitals will not be there to help you..
        3) REIMBUSTMENT through TPA..Claim settled through TPA charge 10.38% SERVICE TAX which in effect reduce your cover by the same percentage..For eg: claim is Rs 100000 and through TPA with its service tax becomes Rs 1,10,000..The PSU mediclaim company or TPA is not going to pay this Rs 10,000 from there pockets..What they’ll do is reduce your claim by Rs 10,000 meaning if you put forward claim of Rs 1,00,000 only Rs 90,000 will be reimbursed..Bad deal 🙁

        Just an okay policy, launched in collaboration with a BANK, just to boost certain numbers by luring innocent bank account holders..nothing more..

        1. Navin Kapur says:

          I respectfully disagree with what you have said. The policy does not have any capping as is in case of other policies which is the best feature. Moreover, now Companies pay the amount of service tax in addition to the claim amount over and above the insured value even

  76. pattu says:


    I have a individual mediclaim from United India. One of the important things is to look for sub-limits on room rent etc. and choose a polity which has minimal sub-limits.

    I feel its better to go for trusted companies like United India, Oriental Insurance, National insurance and not trust private companies: The main reason is number of claims: Unlike life insurance, medical insurances has lots of claims. If the company honours everyone of them they would run in loss which is indeed the case for many companies in India. Hence its best to go with ones with govt backing. I am very happy with united Indias and TPA’s TTK health care service

    As regards critical illness opinion is divided on whether to take individual policy or as rider with term insurance. Also one can claim for only few illnesses.

    I have an group mediclaim which offers a small critical illness cover. I feel that it is most important to build a health corpus either by MFs or buying health-Ulips which can be complementary to a mediclaim. Health-Ulips are still in their infancy and hopefully with evolve with time in terms of benefits etc.

    1. Pattu

      Thanks for your views . Health Insurance is tough to choose in todays environment and given so any choices . What policy do you hold and what kind of people does it suit for ? Can you give a brief overview .


    2. sachin says:

      Agree with Pattu. It is better to go with nationalized companies as these companies will be there in market for long, same may not be true for private.

  77. S K Sagar says:

    I am planning to buy ICICI Prudential Health Insurance Family floater policy ? How is that , I don’t understand any thing about health insurance, at our family we don’t have any health problem, I am thinking paying Rs 27000.00 per year is more.

    1. S K Sager

      Its tough to comment on policy per se, however why 27k ? How much of cover its providing and for how many ? Read recent article please


      1. S K Sagar says:

        ICICI Prudential Health Insurance (Health Saver) -sum assured Rs 5,00,000/- and I have paid already two years 27,000/- but till now no claims by any of our family members towards medical expenses etc., .I am think should I continue with this policy or switch some other policy .
        Please suggest me.

        1. SK Sagar

          Health insurance is for long term , you will loose the benefits of existing diseases etc if you switch right now , i think you can wait till July 2011 , when portability will come in, then you can switch to other health insurance

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