Want to buy a health Insurance for my family – Interested in Religare Care , but concerned about its claim settlement ratio

POSTED BY Manas ON May 16, 2014 9:51 am COMMENTS (5)

Hi All,

Need some suggestions regarding the health insurance . I am 31 years old and want to take a family floater insurance for me, my 24 years old wife and kid of 1 year. My company is providing insurance of 3 lakhs. Still I wanted a personal insurance for which I spoke to the Medimanage people and they suggested about Religare health Care for a 5 lakh sum insured. I went through the plan which looks pretty good because of the facilities it provides comparing Apollo optima and Max Bupa  with a low premium rate.

But I am concerned about it’s claim ratio and trust-ability. It is new to the market and providing almost the same cover what it’s competitors are providing with high premium. So just trying to understand can we trust it in a long run. Please help me friends.

Thanks.

5 replies on this article “Want to buy a health Insurance for my family – Interested in Religare Care , but concerned about its claim settlement ratio”

  1. Sujeet Bhujbal says:

    Hi Manas,

    Please let me know you have taken Religare CARE health insurance policy or not ?? how is medical checkup facility of religate ???

  2. Manas says:

    Hi evryone,

    Thank you so much for your active participation on my query and giving me a solid reason to decide on which track I need to move.
    Agreed that it’s having a limit on the room rent. But still 1% of SI is not a small amount to get a room unless we are going for a less SI like 2lakhs or 3 lakhs. But if we will compare the other areas then I think it’s better than the Apollo. Even recharge benefit is provided by Religare where Apollo had the monopoly before.

    Again thank you so much guys. Please share if any other thoughts are there.

  3. Nikhil Verma says:

    I don’t agree that it’s providing same cover as Apollo Restore. There’s no room rent limit in Apollo, whereas in Religare its either 1% of SI or single private room. Which is a big difference.

  4. Debojyoti Das says:

    Hi Manas,
    As Religare is a new product, kindly look into other aspects as well along with CSR. I am sure, the product will impress you when you look into the facilities it gives like automatic SI increase, yearly medical check-up, single private room with no co-pay, etc. etc. It is correct, the product has to mark its name in market, however, you/me should not be worry about as it is under IRDA umbrella and will not vanish just like that. Moreover, compare the premiums in the later yrs. 40, 45 and 50 and i am sure, religare scores more. Kindly don’t go by my words and do your own judgement.
    P.S: I am using Religare Care for myself and family.

  5. Hemanth Chandra says:

    My take on this would be…. as Religare is a new player and to increase their market, they are providing same cover with less premium.

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