Hello Sir, That’s Dr.Vishal Shah , from Ahmedabad , Gujarat. I am Holding a Oriental Happy Family floater Health Insurance Which Includes Me as a Primary Member (Age-30) , My Wife as spouse (Age-30) & My Parents (father -61, Mother -52 years) My SA for Previous 2 Years was 2,00,000 but last year I upgraded it to 3,00,000 (premium
Now i want to Upgraded it to 6,00,000 ( Gold Plan) So, I made inquiry about that & on this way . I came to know about changes in IRDA guide line . They told me to upgrade it to SA – 6,00,000 (Gold Plan) but premium would be very high – 47,000 . For this, they argued that according to New IRDA Guidelines, Primary Member is of Higher age only. So, In My Case , My Father -61 Year, would be the primary Holder , In this way , they increased my Premium almost 4 Times . I paid 3 year with trust that after 4 Year, i can get some benefits for my Health Insurance . But after 3 Year of paid premium , Now i am in trouble, i don’t know what to do. I am your regular reader so, I know you can help me out of this.
(1) I want to know that it is right that IRDA insisted to make the higher age person as a primary member for family Holder Policies??? Whether it is for all companies (or) selected Companies ?? ( Like my Oriental Insurance )
(2) If i Have a child , then they are ready to consider me as a primary member , is it So?? I will Have Baby Next Year (January -15,, as my wife is pregnant) who can be Included Only after 3 month of age. After Including my Baby , they are ready to consider me as a primary member so what should i do?? i thought that i Should let them make my Father as a Primary Member for this Year and for next Year i will automatically be a Primary Member , Is my way is Right ? ( Is it cost Effective??)
(3) Now after paying 3 premium , what should i do ?? Should i continue till i get a new Policy from different Insurance Provider??? After that, for how much time i have to wait to get Health Insurance Benefit ??
(4) What other plans Would be best for me with at least 5,00,000 SA with least premium & better facilities. Please Suggest Me.