After doing research on health insurance stuff and posting queries here, now time for real action 🙂
I have done following health insurance planning for my parents and need your views and suggestions –
Quick background reference of current situation –
My father (61 yrs) and mother (53 yrs) have been covered under Star Health’s Family Health Optima (FHO) policy for last 4 years. My father is diabetic and also was covered for last 4 years under Star Health’s Diabetes Safe policy.
My planning –
1. Continue FHO – 4L ( and 8L with automatic sum assured upto 100% on exhaustion of SI with upto 50% loading on premium and conditional usage of reatored SI )
2. United India’s Super Top Up – 10 L each
My reasoning –
1. Why Star Health?
- My father’s diabetes will be covered as pre-existing disease.
- 101 day care procedures covered
- No sub-limits except for room rent, ambulance, post hospitalization expenses and cataract treatment as per my understanding after reading the policy brochure.
- Current renewable limit is upto 65 yrs. I also read on Medimanage site that IRDA is working with health insurance companies to make all policies lifetime renewable. And we have 4 yrs to our disposal for the same.
- If that doesn’t happen, after 65 yrs. this policy gets converted into Star Heath’s Mediclassic which covers upto 80 yrs. Although 101 day care procedures will not be covered.
2. Why United India’s Super Topup?
- Firstly because, it’s a super top (and the only option for now)
- Lifetime renewable
- Covers first level medical expenses after deductible irrespective of basic insurance (will be still active after 80 yrs)
One thing I don’t know is how to calculate appropriate Sum Assured? But I think this should suffice what do you people think?
Please guide. Thanks!