Presently i am holding Individual mediclaim policy of Oriental Insurance company with Cover of 2 lakh each for me and wife and 1 lakh each for 02 kids.My policy is expiring on 10 may 2014.My age now is 47 years,my wife 42,kids 11 and 6 years.current policy is from last 5 years,fortunately with no claims.
Now when i look at higher cost of medical procedures,i want to increase my insured amount to somewhere near 5 lakh each and addition family floater of 10 lakh.i need advise on (1) should i increase insured amount in same policy (2) should i go for portability to some other policy,in that case which can be best policy (3) should i take some parallel policy,Which will be best policy.May i request you to suggest ,,way forward and best policy for me and family
Dear Dhiman, in that case, you w’d have to do that.
Thanks
Ashal
Dear Dhiman, how about increasing the maximum possible cover in existing policy and purchasing Top up cover instead of a regular plan?
thanks
Ashal
Hi Ashal,
Just need advise,as advised by i went to oriental insurance office to get increase in my SI for individual mediclaim policy for me/spouse/02 kids.They say since the proposer i.e me is over 45 years,you cannot increase SI.They are advising me to convert the policy into family floater SI 5 lac…Premium around 15k.Please advise .
Dear Dhiman, please increase the sum assured in this original policy. For extra cover, you may purchase either one family floater or a Top up cover.
Thanks
Ashal
thank for the reply.Just need one advise ashalashu, people are advising me for portability to max bhup family first sliver plan 5 lac each member plus 15 lac floater.My premium for present policy is around 10k.if i increase insured amount to 2.5 lac each for me and spouse and 1.25k each for kids(that is permissible for increase this year) my premium get increased by 25 % i.e around 12500.and if i take floater for 5 lac from apollo/star/max premium for that will be 23000 approx(since my age is 47 years)so total premium of present plus floater will be around 35k.In-case i go for portability for max bhup silver plan my premium will be around 27k and will get all benefits of previous policy for amount ported.so please suggest what should i do ??? regards
dear Manish chauhanji can i get your expert advise on this