How to determine correct medical insurance amount

POSTED BY Dipesh ON August 30, 2013 3:33 pm COMMENTS (3)

Hi All,

I want to know the best possible way to calculate total health coverage I would require. My age is 29 my wife’s age 27 and mothers age 52. 

Should I go for family floater or single insurancefor each.

One more doubt If I opt for family floater policy how to much I can show for IT exemption under section 80D(which is max of 15K for self/spouse and 15K for parents)

Thanks,

Dipesh

 

3 replies on this article “How to determine correct medical insurance amount”

  1. Ashal Jauhari says:
    August 31, 2013 at 12:58 pm

    Dear Dipesh, please cover yourself & mother from same insurer. If it’s Oriental, so be it.

    thanks

    Ashal

    Reply
  2. Dipesh says:
    August 30, 2013 at 4:15 pm

    Dear Ashal,
    Thanks a lot. For family floater while browsing through forums I felt oriental is good. Please let me know your views. Can you suggest some policy for my mother(she is already suffering from arthritis). I have good medical insurance from company as of now but need to insure on my own as can’t rely just on company’s policy.

    Thanks

    Reply
  3. Ashal Jauhari says:
    August 30, 2013 at 3:43 pm

    Dear Dipesh, please opt family floater for yourself & wife & purchase individual policy for your mother. The cover amount should be able to handle at least 2 major hospitalization for floater & 1 for your mother. As your mother’s age ‘ll increase here on wards, it’s advisable to purchase a large enough cover for her from day one. For family floater, you may opt with a lower cover as of now say 5L & keep on increasing it yly.

    As there ‘ll be 2 separate policies, you can easily claim section 80D benefit on both prem. paid by you. :

    Thanks

    Ashal

    Reply

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