10 replies on this article “Please help me to find correct and best insurance plans for my family.”

1. healthinsuranceshoppe says:

   February 6, 2013 at 6:18 pm

   Dear Nitin,

   When you decide about health insurance policy, its important to go through following factor.

   1. Your location.
   2. Network hospital of that company.
   3. Your budget.
   4. Any pre existing problem for your family.
   5. Your comfort level with Sub Limits
   6. Any existing health insurance cover by your employer , if any.
   7. Hereditary disease or specific family history.

   http://www.healthinsurancechandigarh.com/

   Reply
2. Ashal Jauhari says:

   January 18, 2013 at 10:44 pm

   Dear Paul & dear Nitin, do you people have CSR data for LIC?

   thanks

   Ashal

   Reply
3. Nitin Chaudhari says:

   January 18, 2013 at 8:15 pm

   Thanks Paul.

   Could please suggest any specific term plan from LIC and HDFC?

   Reply
   1. Free Financial Calculators says:

      January 18, 2013 at 8:31 pm

      HDFC Click 2 Protect

      Amulya Jeevan from LIC (way more expensive)

      Reply
4. Paul says:

   January 18, 2013 at 5:17 pm

   For term plan, I think ICICI or HDFC is better. They both have claim settlement ratio above 95%. LIC and SBI are having better claim settlement ratio. But the premium amount is lot more what than ICICI and HDFC offers. Aegon religare shows a low settlement of 65%.

   You can get these details from irda site.

   Reply
5. Ashal Jauhari says:

   January 17, 2013 at 11:46 pm

   Dear Nitin, Please opt any online term cover from the following list. this is merely an indicative list & not the order of preference.

   Aegon Religare
   Aviva
   Metlife
   HDFC
   Kotak
   ICICI

   In my personal opinion, please opt for at least 15 times of your yly income as sum assured for your term cover.

   Regarding health policy, please have a look of Oriental happy family floater.

   For riders, actually you w’d have to purchase accidental plan & critical illness plans from general insurers.

   Thanks

   Ashal

   Reply
6. Ashal Jauhari says:

   January 17, 2013 at 9:15 pm

   Dear Nitin, here is my take.

   1. Term – Please opt for a plain online term cover with out other riders. Please opt only Prem. waiver rider. the prem. ‘ll be around 6-7000 Rs. or less depending upon your age & 30Y term/. Now if you are investing the remaining saved prem. amount which is 10000 Rs. @ 8% gorwth rate for next 30Y on yly basis, the maturity amount ‘ll be 1223500 Rs. whereas in this prem. return plan, you are offered merely 19000*30 = 570000 Rs.

   Now do tell me where do you want to go.

   2. Health Plan – Please opt either from PSU insurers or Max Bupa or Aollo.

   3. Child policy – Please do not invest at all in any child policy. Please invest your hard earned money into pure investment instruments like PPF, MFs.

   thanks

   Ashal

   Reply
   1. Nitin Chaudhari says:

      January 17, 2013 at 11:30 pm

      Thank you masters.
      You both are right I should go for pure term plan. Can you both please suggest me some best term plan and rider plan by your experience.

      I will definitely invest the remaining in any good MF and my existing PPF account. I have downloaded the guide and will surely take advantage of it.

      Also any specific family floater health plan looks better to you?

      Thanks again.

      Reply
      1. Free Financial Calculators says:

         January 17, 2013 at 11:45 pm

         please use a portal like policy baazar to compare mediclaim policies. You can go with PSU as Ashal has suggested.

         I have one from United India

         For term plan the insurer does not matter as long as you are honest and truthful while filling the form,. Get an online form from someone you are comfortable with

         Reply
7. Free Financial Calculators says:

   January 17, 2013 at 8:57 pm

   1. Dont buy any term plan which returns premium. Also dont buy any riders. Buy pure term insurance without return of premium. You can get the riders separately

   2. Choose a health insurance plan by carefully analyzing sub-limits and exclusions. Choose one you are comfortable with

   For both life and health insurance be honest while filling the form. For health insurance follow rules of cashless or reimbursement claim during hospitalization and you wont have any problems.

   3. Dont choose any child policy. open a ppF account and put some money regularly in it. Put the rest (higher portion) in good equity MFs (one large-cap fund and one mid-and small-cap fund.)

   you can use this to select MFs

   http://freefincal.wordpress.com/step-by-step-guide-to-choosing-a-mutual-fund/

   Reply

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