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Old 27th July 2013, 12:36   #241
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Originally Posted by mpksuhas View Post
^^ You can check out Oriental happy family floater also.
For senior citizens it seems the Oriental Banks group insurance scheme is a good option. My parents have taken this last year. You need to be an account holder in specific branches of the Bank it seems, and then you can apply for this. Also, it seems the premiums are on the lower side.
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Old 3rd August 2013, 11:25   #242
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Originally Posted by latentpotential View Post
For senior citizens it seems the Oriental Banks group insurance scheme is a good option. My parents have taken this last year. You need to be an account holder in specific branches of the Bank it seems, and then you can apply for this. Also, it seems the premiums are on the lower side.
Thanks for the info. What's the age(s) of your parents ?
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Old 3rd August 2013, 11:28   #243
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Thanks for the info. What's the age(s) of your parents ?
They are senior citizens.
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Old 3rd August 2013, 12:04   #244
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They are senior citizens.
You meant you've taken the policy after the age of 60?
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Old 3rd August 2013, 12:17   #245
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You meant you've taken the policy after the age of 60?
I am not aware of the full details, however I do know that the policy has been taken less than a year back, since we do not want then to depend solely on the corporate insurance provided. (miniscule amount)
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Old 2nd December 2013, 19:59   #246
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I wanted the Gold plan having cover of 6 lakh, named Oriental Happy Family Floater Policy to cover my dad aged 64 years, mom aged 55 years, myself and wife.
To my surprise, the local branch of Oriental refused to offer this policy to me. I was ready for all the medical check-ups on my expenses, at their suggested hospital but still they didn't budge.
They simply said to buy a separate senior citizens health policy for parents, and that parents shall not be covered under my policy.

Oriental helpline, Insurance pandit was of no help.
Does someone knows the recent status of this policy?
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Old 31st January 2014, 15:27   #247
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I have a health insurance with united india (separate policies for my family of wife, 2 kids and mother). The service from the TPA, Vipul Health, does not seem professional. Is it possible to transfer the policy to another provider without losing the benefits (Pre-Existing Disease exclusion, No health check up) etc?
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Old 31st January 2014, 21:53   #248
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Hi everybody
I received my daughter's( 35 years in 2014) renewal notice from New India
Last year I paid rs 5400 plus taxes as premium.
This year the notice is for rs 7000 + taxes a hike of 30 %. The notice is the last years policy with the premium amount cancelled and rs 7000 written by pen. There has been no claim after Feb 2008
Is anybody else getting such premium payment notices?
Regards
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Old 1st February 2014, 20:22   #249
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Meaning to ask this for sometime. If I can build up a corpus of 10 lakhs in 2-3 yrs and then invest it in FD/bond/MF for the long term, why should I buy health insurance? . I could top up the corpus as and when required based on healthcare cost inflation.
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Old 1st February 2014, 22:17   #250
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^^Will you have the discipline to never ever touch that corpus for something else?
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Old 2nd February 2014, 07:54   #251
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Agreed. That is one concern. Any other?

To have that much discipline would be difficult. But if I have also set up corpuses for my other goals, then the temptation to touch the health corpus would be a lot less unless runaway inflation eats into my financial goals.

I have always wondered why there should be a third party (insurance company) or even a fourth (TPA) in what should essentially be a dialogue (between me and my health care provider)
It unnecessarily complicates the healthcare delivery process though it does provide employment to many insurance company employees.
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Old 2nd February 2014, 09:29   #252
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This logic would then go to any kind of insurance.. just have corpuses instead of life insurance, health insurance, car insurance...

I am paying about 15k annually for a 8 lakh health floater insurance for my whole family, much cheaper than blocking a corpus of 8 lakhs for this purpose when it can be invested elsewhere.
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Old 2nd February 2014, 09:51   #253
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Has anyone availed of Health Insurance for Senior Citizens from Star - Red Carpet. I am considering buying it for my parents.
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Old 2nd February 2014, 11:35   #254
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Quote:
Originally Posted by gsurya View Post
This logic would then go to any kind of insurance.. just have corpuses instead of life insurance, health insurance, car insurance...

I am paying about 15k annually for a 8 lakh health floater insurance for my whole family, much cheaper than blocking a corpus of 8 lakhs for this purpose when it can be invested elsewhere.
Life insurance amounts are too huge to be accumulated in a short period of say 2-3yrs. If I had that much money already, I wouldn't take life or health insurance at all. Car insurance is mandatory. So I have no choice.
The blocked amount does stay invested (8 lakhs in your case) but in relatively liquid schemes so as to be accessible.

Last edited by Deep Blue : 2nd February 2014 at 11:40.
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Old 17th February 2014, 16:41   #255
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Originally Posted by nkapoor777 View Post
IRDA website shows they've got a decent claim settlement ratio.
Could you please tell me where you got this information from? Looked at the IRDA website but couldn't find much. Thanks!
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