Health Insurance for my entire family

POSTED BY rajasekhar ON September 17, 2012 9:14 pm COMMENTS (13)

Dear Friends,

 

We are total 5 members in our family.

 

1) Me – 28 – Not married — 4 Lpa salary -No pre exixting deseages – No Insurance till now

2) Brother – 27- Not marrierd — 4.2 Lpa salary – No pre exixting deseages – No insurance

3)  Sister –25 –not Married–N/W -No pre exixting deseages – No insurance

4) Mother – 57 – No pre exixting deseages – 3 Lacs Health Insurance from State Govt

5) Father – 63– retired govt emoployee –3 Lpa (Pension) — Having pre exixting deseages ( lungs infection ) with Diabetics — Health Insurance from State Govt

 

 

I want to take the Insurance for my me and my family, but confused. My parents have existing health coverage with 3 Lacs from state Govt. But i want to increase their sum assurance upto 15 L with Top Up Insurance.

My brother, sister and me want to buy the individual health insurance.

 

How much premium is for 15 L top up insurance for each of us?

 

 

Type 1)

 

father 3 Lacs (existing coverage) +15L Top up

Mother 3 Lacs (existing coverage) +15L Top up

Me 3 Lacs (Individual Insurance) +15L Top up

Brother 3 Lacs (Individual Insurance) +15L Top up

Sister 3 Lacs (Individual Insurance) +15L Top up

 

Type 2)

Whole family floater 3 Lacs for me, brother and sister with Top Up 15 lacs and 15 lacs top up for my parents.

 

Which is the better way or advice any best suggesion.

 

Rajasekhar

13 replies on this article “Health Insurance for my entire family”

  1. rajasekhar says:

    Deepak has choosen me the best product with high coverage. but the premium is very high. I am looking for cost cutting as there is huge competition between insurance companies.

  2. rajasekhar says:

    Deepak has choosen me the best product with high coverage. but the premium is very high. I am looking for cost cutting.

  3. rajasekhar says:

    what would be the CI Premium for US as well as my parents ?

    I mentioned that I would split the coverage into 4 parts. is there any other best way ? I am looking for the best product with low premium and having 15 lacs as top up for the entire family and 5 lacs as sum insured for me and siblings. my parents already having 3 lacs coverage.

    1. Dear Rajasekhar, for exact prem. amount please check aggregator sites or individual insurers’ site.

      Regarding the product selected for you by dear Deepak, well you have to compromise somewhere, either in the price of the product or in the service quality.

      It’s your personal call.

      Thanks

      Ashal

  4. rajasekhar says:

    Hi,

    I can’t afford that much premium. I want to split the cover into 4 parts.

    1) Me + Brother + Sister — super top up — 15 Lacs (Threshold limit is 5 Lacs) purchased by my brother

    2) Mother– super top up — 15 Lacs (Threshold limit is 3 Lacs) purchased by my brother

    3) Father — super top up — 15 Lacs (Threshold limit is 3 Lacs) purchased by me

    4) Me + Brother + Sister — Family Floater — 5 Lacs purchased by me

    Is it right option?

    Do we need to buy any critical illness cover additionally ?

    1. Dear Rajasekhar, as all 3 of you siblings are quite young, a lower amount of CI may be purchased but for your parents the cost of CI ‘ll again be very huge.

      Thanks

      Ashal

  5. Deepak R khemani says:

    Raja Shekhar
    You have 2 options in Family First under silver plan premium is approx 61,000/= and under gold plan approx 88,000/=
    Now lets look at what we are getting under this plan,
    All five embers of your family are covered for 5 lakhs each and 15 lakh floater for all.
    Effectively every person is covered for upto 20 lakhs a year,
    The total cover available per year is 40lakhs for all 5 members of your family,
    As far as pre existing disease of your father the company may impose a pre existing clause of 48 months, depending on his medical condition they may also refuse him a policy

    My advice to you,
    buy in this order
    Policy No 1 Your dad and you 5+5+15 Silver Plan premium 31,000/=
    Policy No 2 Your mother brother and sister 5 + 5 + 5 + 15 Silver premium 30,000/=
    By paying 61,000/= your family has total cover of 55 lakhs
    the premium per lakh is approx 1200/=

  6. Deepak R khemani says:

    Simple
    Max Bupa Family First. One Policy covers all your family members with the option you like 3 Lakhs base cover to every individual and 15 lakh cover(Floater for all).
    Or you could split it into 2 policies in any combination of your family members.
    The best option is 5 lakhs base cover + 15 lakhs floater.

    1. rajasekhar says:

      Dear Deepak,

      You mean Max Bupa Heartbeat Family First ? If i want to take this policy, who will be the policy holder? My father is elder in our family and has pre-existing diseases. So premium will be high?

      Here shocking is The premium for this policy is 88000/- for my entire family (5 members, 5Lacs limit to individual and 15 Lacs floater to all). See below link for premium calculation.

      http://pay.maxbupa.com/buy-online/Premiumcalculator/FamilyFirst

      Thanks,
      Sekhar

    2. rajasekhar says:

      Dear Deepak,

      You mean Max Bupa Heartbeat Family First ? If i want to take this policy, who will be the policy holder? My father is elder in our family and has pre-existing diseases. So premium will be high?

      Here shocking is The premium for this policy is 88000/- for my entire family (5 members, 5Lacs limit to individual and 15 Lacs floater to all). See below link for premium calculation.

      http://pay.maxbupa.com/buy-online/Premiumcalculator/FamilyFirst

      Thanks,
      Raja Sekhar

  7. Dear Rajasekhar, please split your family floater cover this way.

    Cover A – You + Brother + sister for 3L Rs. & a top up of 5L Rs. to be purchased by you.

    Cover B – Your parents for 5L Rs. to be purchased by you

    Cover C – You + Brother + sister for 3L Rs. & a top up of 5L Rs. to be purchased by your brother.

    Cover D – Your parents for 5L Rs. to be purchased by your brother

    Thanks

    Ashal

    1. rajasekhar says:

      Dear Ashal,

      Thanks for quick response.

      What are the premiums for those covers? Can you tell me the best products for these covers? What is the best Super Top Up insurance in Market?

      You mention

      1) Me + Brother + Sister for 3 Lacs purchased by me in Cover A

      2) Me + Brother + Sister for 3Lacs purchaged by my brother in Cover C

      Here I am confused.

      Do we need to take 2 covers for the same people and same amount? Can we claim 6 Lacs at a time?

      Thanks,
      Sekhar

      1. Dear Rajasekhar, here are the answers for your queries.

        1. What are the premiums for those covers?
        You may check the prem. for such covers on various online aggregator sites like policywala. medimanage, click2insure, bimadeals, apnainsurance…..

        2. Can you tell me the best products for these covers?
        There is nothing like best or worst. My best may be worst for you or may be not good enough for you & vice versa.

        3. What is the best Super Top Up insurance in Market? The top up should be purchased from the same insurer from which the basic health cover has been purchased.

        4. Do we need to take 2 covers for the same people and same amount?
        The reason of such split is for the fact that prem. for a big large cover ‘ll be very high but after splitting the cover into 2, the relative prem. ‘ll be ion lower bands & both of you (You & your brother) can avail tax benefit for all these 4 covers under section 80D.

        5. Can we claim 6 Lacs at a time?
        Yes, if the actual claim amount is that much.

        Thanks

        Ashal

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