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POSTED BY ON September 20, 2012 11:34 am COMMENTS (4)
I’ve read an article on Health Care Inflation (https://www.jagoinvestor.com/2012/09/health-insurance-inflation-in-india.html) few days back. Also, I’ve come across a new Health Plan – Religare Care Plan.
Religare Care Plan comes up with following features –
1) 50L S.A. at 26,000 for 35 year old couples with Lifelong Renewability
2) With recharge option, above amount equals to 1 Cr.
3) Recharge option rectifies one of the major drawback of Restore – While in Restore it gets available for next claim only, in Recharge – S.A. gets reinstated whenever it gets exhausted.
4) Abroad treatment are covered for >=50L cover
5) Free annual health check-up
Is it ‘too good to be true’? Or, is it solution to (almost) all of the problems mentioned in the article?
Will we see a consumer-friendly competition in health insurance now, just like AR started with the term insurance?
Please share your views.
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Dear Prasson, in my personal opinion, I w’d like to go for a lower sum assured as of now & thus paying low prem. & ‘ll invest the saved prem. into a MF to create my own health fund over the period of time. May be a 5-7L cover of this Religare care ‘ll be enough as of now & we may increase it later on as per our requirement. so that we can divert a majority of saved prem. into saving & thus investing.
Thanks
Ashal
I agree Ashal. My point here was not only a large S.A., but other features of CARE as well. It looks innovative to me.
The only and BIG difference between a high S.A and helath fund is that – Once used, S.A will be restored back to be spent next year – while health fund will not.
Dear Prasoon, I’m not asking to avoid high sum assured. What I want to say is instead of going for such high sum assured from day one. We may go for a 5L cover as of now & may increase it as per inflation after 2-3Y regularly. In between the save prem. can be invested to create a health fund.
Thanks
Ashal
Agree!