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Group: Forum Members
Last Login: 27-02-2012 23:41:04
Posts: 2,
Visits: 6
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Hi,
First of all, I must thank you for creating such a good source of data. Keep it up.
Coming to my query, I am planning to buy additional mediclaim in the coming year. Following are my existing policy details (completed age of the insured is in bracket) -
1) Self(36)+wife(31)+daughter (2)= United India Individual health Platinum policy SI Rs.50000 each. Expiring on 26.05.2012; Policy Inception 11.05.2007; Premium paid last yr Rs.2766 (after No claim disc)
2) Father (71)+Mother (61) = United India Individual health Gold policy SI Rs.75000, Rs.50000 respectively. Expiring on 16.05.2012; Policy Inception 16.05.2007; Premium paid last yr Rr.7120 (after No claim disc))
3) Company provided cover (Insurance Co- ICICI Lombard) = Self+Wife+Father+Mother - family floater Rs.200000/-
My understanding is that the 1st & 2nd covers are Individual Covers & not family floater plans.
Questions regarding 1st set of Insured -
- I want to go for a family floater of at least Rs.300000. Also the renewal age should be for lifetime.
- Also whether can I use the portability option & switch to some other Ins. Company? Whether I can get the family floater on the conversion of Individual policy?
- My wife has diabetes. It was detected last year; almost 4 years of taking the policy. So this is not pre-existing condition. Do I need to inform the Insurer about the same? If I switch to some other Insurer, what will be the implication of the same?
Questions regarding 2nd set of Insured - my parents -
- I am in dilemma regarding my parents cover. Whether I should continue with the same Insurer & go on increasing the Insured amount?
- Can I switch the Insurer for them at this age; my father has BP & some orthopedic issues. These issues are known at the time of taking the existing policy.
Based on the above details, please advice the best suitable plans to me.
Thanks in advance,
Regards,
Gov
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Group: Forum Members
Last Login: 08-05-2013 20:53:31
Posts: 170,
Visits: 690
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Thank you for the compliments and encouragement.
According to your age, and the current healthcare inflation, we would recommend a minimum cover of Rs. 5-6 Lakhs. You should not depend on Corporate cover, as a part of your financial planning. You have Oriental, PSUs, Apollo, Max Bupa who offer Lifetime Options.
With your wife having Diabetes, we would not recommend portability for you. We would recommend you go for an additional policy. Apollo would not be an option, as they do not cover Diabetics.
You don't need to inform your current insurer. Most Insurers resist taking portability cases, with pre-existing ailments. We would therefore recommend you not to go for portability, and instead go for an additional policy.
You should not port this policy. Try to see if you can increase the sum insured. You can look for an additional policy.
No, it would be very difficult to switch insurers for your parents.
Important Tip: It is important to employ a good health insurance advisor cum service provider to ensure you get neutral advise as well as get expert service at the time of claims. Choose your agent/advisor well.
Mahavir Chopra
www.medimanage.com
Mahavir Chopra from www.medimanage.com
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Group: Forum Members
Last Login: 27-02-2012 23:41:04
Posts: 2,
Visits: 6
|
Hello Mr.Mahavir Chopra,
Thanks for the reply. It helped me to clear some of the doubts.
I would definitely like to get the expert advice in this month.
Thanks & regards,
Gov
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Group: Forum Members
Last Login: 08-05-2013 20:53:31
Posts: 170,
Visits: 690
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Great!
Mahavir Chopra from www.medimanage.com
MORE QUESTIONS? GET FREE ASSISTANCE OVER CALL FROM US!
In case you need specific product recommendations with comparison and analysis:
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