January 13, 2013 1:32 pm
Which is the Best Health Insurance Plan for Middle Class Family in India ?
No one can tell you which is the best health insurance for you. However there are few steps through which you can choose a health insurance plan which suits you best. First you need to identify which are the best health insurance companies. Every year SEBI provides the list of best health insurance companies. After selecting your health insurance company, compare their health plans and choose which fits as per your requirement.
Answer to your specific query is
Apollo Munich Easy Health Standard policy.
Good claim settlement by FHPL.
No Sub Limits.
No Flashy features, basically meant for middle class.
Another alternative is Future Generali Family good health.
I am in health insurance industry for last 6 years , so answers are based on practical experience.
Dear Saroj, no plan is the best. that’s a direct answer your basic query. A detailed reply is already there by dear FFC. Please read his reply again & again for 4-5 times to understand the soul of his reply.
I need family floater (2+1), adults=2, child=1.
I expect that there should not be any “Sublimits” option i.e totaly cashless service.
I can bear maxumum amount Rs-10,000/- as yearly premium.
And the insurance company should have good claim settlement ratio & good reputation in India overall.
If you want no sub-limits then the policy will become expensive and for 10K you will get lower sum assured than a policy with sub-limits.
Claim settlement for mediclaim is not like life insurance where death is common to all.
Settlement depends primarily on whether the insured was truthful at the time of filling the form and the individuals health history and secondarily on following rules properly.
For example for non-emergency admission there are separate rules to be followed for cashless and reimbursement procedure. Most people don’t read this and expect claims to be honored and say the company has poor reputation. Actually it is they who have not followed rules.
Once you understand this then any company will work fine.
I am insured with united India but before you make a choice please use a comparison portal like policy bazaar and other sites and compare and choose one you are comfortable with. Please do the research yourself.
Instead of a useless answer like this it would be great if someone said go with company A or B. However claim settlement and reputation are relative factors and you cannot rely on information about this in such a forum. A person who has not made a claims cannot say the company is good. A person who has made a claim for condition A may claim the company is good that doesn’t mean anything for others as it is is very individualistic situation. Most likely all that happen was the person followed the rules correctly.
In general if we are aware of the policy exclusions and rules and follow the claim has to be paid or honored.
please also remember cashless is not always a good thing. Hospitals will exploit this and exhaust your full sum assured on some pretext or the other resulting in premium loading and hardship to patient.
If one has the money it is best to follow rules of reimbursement, inform the insurer appropriately and get it reimbursed. It will cheaper in terms of total cost which will result in lower loading.
First decide on the amount you can spend towards premium each year That is the only relevant parameter not the class in social hierarchy.
Then the features to look for in a mediclaim policy are, sub-limits on room rent, icu, etc., diseases excluded, and amount of waiting period for per-existing diseases etc.
to compare these feature you can look for websites like policybaazar.com
other things to consider:
must have both cashless and reimbursement options
and must have extensive network of hospitals which accept the policy
read the offer document carefully and see how much the premium is likely to increase if you make a claim.
You could choose a floater policy for your family. Some policies even allow inclusion of parents and other relatives.
Mediclaim is a very individual product. A person who has not made any claim cannot say his policy is good. A person who makes several claims cannot be considered because his health is likely to be very different from ours.
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