Health Insurance Planning for my parents by me.

POSTED BY monGenie ON March 14, 2013 12:24 am COMMENTS (7)

Hi There!

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!




7 replies on this article “Health Insurance Planning for my parents by me.”

  1. healthinsuranceshoppe says:

    Dear monGenie,

    1. You mother is not Diabetic. Port her policy to a Product , where no sub limits are there.

    2. If your father’s sugar level are in control and his BMI is gud. Try portability to Icici Lombard for your father. They cover PED after 2 years.

  2. healthinsuranceshoppe says:

    Dear monGenie ,

    Kindly verify few points of FHO before deciding to continue with FHO.

    1. Only 80% claim is payable in case of package claim.
    2. 20% co pay for age group 61-65.

    Go for mediclassic (restore) for 5 lac each and Icici Lombard Individual top up policy (3+8) , whcih is very economical combo for long term.

  3. monGenie says:

    Okay, point taken. Thank you, Ashal.

  4. Dear Mongenie, the corpus suggested to you is not to take care of main ailments. it’s to support the burden of anciallry expenses associated with a lonfg term illness or hospitalization. Say Transportation on daily basis for family members from home to hospital & back, the medical procedured & supplements which are not covered under your policy, Cost of a helping hand (nurse or maid) at home post hospitalization……

    These are merely some examples & not the final ones. Try to add on that health corpus on mly or yly basis to combat inflation also as all these expenses ‘ll increase in future due to impact of inflation also.



  5. monGenie says:

    Happy and relieved to know that my plan looks good in the eyes of experienced people like you.

    So, I conclude that Star Health’s FHO 4L is something I shouldn’t worry about until my father reach it’s max renewable limit i.e. 4 more years.

    > Try upgrading to Star Comprehensive if possible at the time of renewal, as there are no room rent limits in the plan + OPD + Restore option.

    I read policy brochure of Star Health Comprehensive and liked its features, but sadly its premiums are way too high. So, I was considering Star Health Mediclassic + Super Top Up option.

    > 4 Lakhs with restore is a good sum insured for the next 10 years. Go for at least 7-9 Lakhs to cover another 10 years.

    Are you suggesting upgrading the SI by some % every year for next 10 years and make it 7-9 L for another 10 years?

    > Else, like FFC mentioned, please invest regularly in creating a parallel health contingency fund. Once the fund is around 5 Lakhs in the next 10 years.

    I agree there has to be some sort of arrangement / contingency fund of medical treatments that are not covered under insurance policies, but this contingency fund corpus can be used once or twice unlike insurance policies SI since it’s a year-on-year contract. So, how can contingency fund be a option increasing SI by some % per year?

    BTW, I am really very thankful to all of you for guiding me. Thanks a lot!

  6. Don’t reply on the supertop too much. I recall Mahavir Chopra of Medimanage once saying that they are quite reluctant to offer it.

    Best would be to increase cover each year as much as possible and build a health corpus for them in debt fund. This will cover many other incidental hospitalization expenses not covered by insurance.

  7. Dear Mongenie, NIKE… Just do it.



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