Request for a suggestion for a suitable health insurance policy

POSTED BY Eswar ON November 18, 2011 6:22 pm COMMENTS (5)

Hi,
Firstly, I thank the people who made this informative platform to clarify our queries.
Though I read different articles about health insurance, I am not able to find the proper plan that suits me. My age is 30, my wife age is 26, kid’s age is 1year. My father age 57 and mother age is 53. I am looking for family floater plan that cover all the family, but when I search at provider’s website it is giving option for 2 adults only. Am I searching wrongly? Do I need to take separate plan for my parents? Can any body suggest good plans for my family. note: My dad once got a heart stroke. Now he took VRS.

5 replies on this article “Request for a suggestion for a suitable health insurance policy”

  1. sadhvisuhas says:

    Hey Eswar,
    You must have checked the family floater plans. I would recommend you to check out the family health plan from http://www.royalsundaram.in/family-good-health.aspx that will cover your wife, children, your parents and yourself. You can avail for the plan for a year or for 2 years for the sum options from Rs 2 lakhs – Rs 5 lakhs. I hope this helps.

  2. Dear Mahavir Chopra, please update yourself, From the current Fy i.e. 2011-2012, the age limit for Sr. citizen has been reduced to 60Y.

    For rest of the matter posted by you, I have no issue.

    Thanks

    Ashal

  3. Dear Eswar, My take is slightly different than what dear Manish offered. In terms of company selected by him, I have no issue. My take ‘ll be to go for 2 separate family floater plans.

    1. for your you, your wife & kid

    2. You & your parents

    Logic of such split – Keeping your parent’s age & your own age in mind, there is every possibility that in next 5-10 years, no claim ‘ll be from you or your spouse or kid but there may be one or more claims from your parents. Due to which Insurer ‘ll load up the prem. after every claim year. So in a sense even after not filing any claim for you or family, your prem. ‘ll go up for the joint family floater. There is more to it, Your father’s age is 57, so even if there is no claim for next 3 years, duw to his age 60, he ‘ll fall in next age band & prem. ‘ll rise.

    If you opt for the split family floaters, your own prem. ‘ll remain same due no claim till you cross the age band of 35.

    Final point – On front of taxation, you ‘ll be able to claim a max. 15K prem. benefit for your own mediclaim policy & another 15K prem. benefit for parent’s policy under section 80D. Total 30K. As & when your father completes age 60, you ‘ll be able to claim 15K for your own + 20K for parent’s (father being Sr. citizen) mediclaim.

    Thanks

    Ashal

  4. Eswar

    Family First Plan from MaxBupa is one policy which cover even parent , inlaws and some other relationships too. the premium would be on higher side , but best comes at a cost 🙂

    http://www.maxbupa.com/ForyouyourFamily/Heartbeat/familyfirst.aspx

    ALso please look at some of the myths which you need to be clear about in health insurance, read it here : https://www.jagoinvestor.com/2011/08/health-insurance-myths-india.html

    Manish

    1. Prakash Iyenger says:

      Hi Manish,

      In Max BUPA Family first polcy, they also offer it on line! In the sense their HQ in Delhi takes customer calls & with out the agent one can take the health insurance cover.

      Hope this is OK.

      Thanks
      Prakash

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