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POSTED BY ON March 9, 2013 5:48 am COMMENTS (4)
Dear Expert,
Need help in planning for medical and critical insurance cover for myself and my family (inlcuding parents)
About us –
Family – Husband (35) + Wife (34) + Kid (5)
Parents – Father (66) + Mother (58)
Current employer cover 6 lac (for complete family)
Requirement –
Looking for a 10 lac cover (For Family)
When I spoke to Medimanage, he recommended to include mother with family and take a separate insurance for father.
Question –
1) Is this cover amount is over or sufficient?. If I see 15years down the line this is a moderate insurance amount?
2) For the health insurance, can we have a flexibility of adding/removing family members and getting a new premium quote? Like new baby? or demise of any family member?
3) How much Critical illness insurance cover should I take? Is it wise to purchase it now or can wait for few years (like 40years of my age)
4) Do we need to go for medical test for critical illness insurance cover?
5) Please suggest me a good critical illness insurance policy? I saw Aegon religare iHealth and found good? Any feedback or any other suggestion. (I saw suggestion to take CI policy from same company where I take medical insurance, But In my case Oriental insurance company does not provide CI policy)
Thanks for your help
Warm Regards
Samir
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Dear Samir, you can even look for a health insurance policy from Chola Insurance which is a well known player in non-life insurance industry. I too opted for the same when i had to llok for a family health plan and i did it online only.
Dear Samir,
Regarding Critical Illness. It’s almost impossible to get a CI once you get any big disease, like Diabetes, Hypertension etc. So if you are planning to get one you should get it quickly when you don’t have a PED. Based on your declaration you might have to go for pre-policy health check-up.
You can also check for ICICI Pru Crisis cover. It covers lot of diseases being Life Insurance company. For General Insurance companies you can check Aviva, HDFC Ergo, Bharti Axa.
Regards,
Nikhil
Thanks Ashal and Nikhil,
When I was checking for a individual policy for my mother it was not showing any option at ALL on medimanage website. I will try to get more details from them.
I am actually looking for a online buy for policy health or CI… as I am out of India…
Regards
Samir
Dear Samir, Please purchase 3 policies. 1 for you & family, 1 for your father & one for your mother. As your mother is also entering in the wrong side of age for health condition, any claim for her health ‘ll increase the prem. in a big way at the time of renewal.
As you are already having a cover of 6L Rs. from your employer & going to purchase personal cover of 10L Rs. it looks ok as of now. later on in your 40s, you increase your cover amount if you require so or feel so.
Please do check CI plan of Bharti Axa also.
Thanks
Ashal