[Bhokal]

Originally Posted by whitewing

Why would you want to use policy bazaar for renewal are there any benefit over using the insurance company's portals??

I have always used insurer's portal. Anyhow, PB does not have my insurer (ICICI Lombard).

[Fx14]

Originally Posted by Lobogris

These floater policies have high deductibles in any case.

Could you clarify this further - What kind of deductibles ?

[Fx14]

Just received this article :

https://www.ndtvprofit.com/bq-blue-e...s-feel-cheated


So much for the advice to get in early to ensure that you enjoy continuity of coverage.

[handsofsteel]

I’m a first time entrant into the world of health insurance. I’m in an organisation that provides free hospitalisation and medical facilities (unlimited) till I’m employed (in entirety) and in a limited manner (post retirement). Therefore, I’m unlikely to use any medical facilities in the normal run. However, there’s a rumour doing the rounds that the employers may consider reworking this facility and come up with some workaround that may make it inconvenient to be used. I am, therefore, considering taking a plunge and buying a policy.
I’m in my mid 40s now with kids in their teens. A floater seems attractive to me as the cover will keep increasing (due to my non-usage) over the years. (I do not intend to use this except in emergencies which my organisation will not cover - very few scenarios for now). Am I right or is there something else that I should be looking at?
I would be grateful for any inputs

[whitewing]

Originally Posted by handsofsteel

... However, there’s a rumour doing the rounds that the employers may consider reworking this facility and come up with some workaround that may make it inconvenient to be used. I am, therefore, considering taking a plunge and buying a policy.
I’m in my mid 40s now with kids in their teens. A floater seems attractive to me as the cover will keep increasing (due to my non-usage) over the years. (I do not intend to use this except in emergencies which my organisation will not cover - very few scenarios for now). Am I right or is there something else that I should be looking at?

While your approach would reduce the stress at the time of any future hospitalization. Bear in mind that this would increase the premium you are paying, the jumps in premium are not minor when moving into the 45+ slab.
Banking on the accrued no claim bonus, will vanish on making a claim. So at best this strategy works as a one off.

Also, if your employer can change policies, recheck if you would approach the insurance differently. Say, for ex: if your employer says no more insurance in 2044, that will land you in a place where to take a good coverage amount, the premium will be high (60+ years of age) and will need medical examination. There would be waiting periods for pre-exisitng diseases.

Alternately consider taking a supertopup with the a low deductible amount (the deductible amount being equal to an amount that you can easily cover on your own, in case of issues with your insurer).

Before that, I would suggest you wait for the policy to be rolled out and then decide.

[SoumenD]

Looking to get a health insurance from outside as can't just depend on only corporate plan given the uncertain IT job scenario. Am looking at family floater & was in discussion with Ditto on the same. Since they are not pushy unlike other aggregators, it has been a decent experience. They are recommending HDFC Ergo or Care Supreme.

HDFC costs almost 50% higher but they strongly recommend it as apparently HDFC claim settlement process is much smoother. Ofcourse their commission will be higher but then folks who have taken these plans, could you please shed some light on your experience?

Is Ditto trust-worthy? Or should we buy directly from HDFC Ergo or Care supreme portals? While claiming is it easier going via these aggregators like Ditto or its better to connect with HDFC/Care directly?

[JediKnight]

Me and wife are 40+ with two kids still in school. I am an IT employee with only company provided health insurance. The cover ceases the day the employment ceases, which can happen any time. So i have parked 10L in a liquid fund for health emergencies which has now become 12L after interest.

Am wondering if this is the right approach and re-evaluate this approach before i cross 45. How much would be the premium for family floater for say 50L (spouse and kids) (parents have their own coverage). How much would the premium increase as we age. We have no pre-existing maladies but I am overweight and showing signs of borderline hypertension. I think i have three options.

1. Liquidate my health emergency fund. And buy a health cover instead. Somehow i like the security of the the health fund. Keeps increasing 5-6% every year compounded plus instant settlement and no fine print or gotchas at the last moment. But of course this also means some money blocked which could be used for other purposes like buying car accessories

2. Buy a health cover with premium financed by the interest of my health fund. I don't know if this makes sense. Not done the math.

3. Keep investing in my health fund by doing a SIP into the health fund instead of paying for the premium of a health insurance.

What do you guys think is the right approach?

[sunilch]

Originally Posted by JediKnight

Me and wife are 40+ with two kids still in school. I am an IT employee with only company provided health insurance. The cover ceases the day the employment ceases, which can happen any time. So i have parked 10L in a liquid fund for health emergencies which has now become 12L after interest.

Am wondering if this is the right approach and re-evaluate this approach before i cross 45. How much would be the premium for family floater for say 50L (spouse and kids) (parents have their own coverage). How much would the premium increase as we age. We have no pre-existing maladies but I am overweight and showing signs of borderline hypertension. I think i have three options.

1. Liquidate my health emergency fund. And buy a health cover instead. Somehow i like the security of the the health fund. Keeps increasing 5-6% every year compounded plus instant settlement and no fine print or gotchas at the last moment. But of course this also means some money blocked which could be used for other purposes like buying car accessories

2. Buy a health cover with premium financed by the interest of my health fund. I don't know if this makes sense. Not done the math.

3. Keep investing in my health fund by doing a SIP into the health fund instead of paying for the premium of a health insurance.

What do you guys think is the right approach?

I am in the same boat as you but with a higher risk profile due to more dependents, no 2nd income and lesser healthcare fund

I am leaning towards approach 2 personally with a smaller health cover than 50L mentioned by you. Something is better than nothing is my thought here. I have been using employer provided health cover almost every alternate year due to some hospitalization in the family (kids + parents) and hence I believe a health cover is very important.

However, in today's age - unless you get a critical illness such as Cancer or stroke or anything of that sort, a health fund is better than insurance in my personal opinion. I have been following this approach since long and haven't had any issues. However, in today's age (again) - an ideal health fund should be about 60L for a family of 6 members. Because I am not able to have this much in reserve, I am leaning towards buying insurance for psychological benefits.

However, if at any point you encounter a critical illness, then insurance covers (with critical illness riders) are useful.

Premium varies from cover to cover, firm to firm. So better check rates from the market instead of asking here.

I am yet to take the plunge though. Not sure if I was of much help

[SoumenD]

Originally Posted by SoumenD

Looking to get a health insurance from outside as can't just depend on only corporate plan given the uncertain IT job scenario

Originally Posted by JediKnight

How much would be the premium for family floater for say 50L (spouse and kids) (parents have their own coverage). How much would the premium increase as we age. We have no pre-existing maladies but I am overweight and showing signs of borderline hypertension…

I went with a 10L family floater (0 copay) from care supreme with a few riders like cumulative bonus (cover increases to 500% in 5 years), PED reduction to 2 years & consumables coverage (this leads to ~10% out of pocket usually). It also has upto 100% additional bonus over first 2 years on continuation. The math says it will be 70L by the end of 5th year if continued (10->25->40->50->60->70).

Didn’t go for supertopup for a these reasons:

- They have certain limitations in room rent as well as specific treatment caps.
- I have a solid corporate plan running currently which is decent for my job life.
- Care supertopus are usually more expensive than others

Initially picked up HDFC ergo but the premium is almost double of Care Supreme. So half the amount I am SIPing and rest half covers for the Care Supreme premium. When the day comes even if Care coverage is rejected, I should have some funds for treatment. That’s my basic thought process.

HDFC ergo premium for similar(70-75L in few years) plan is 33k/year
Care supreme plan is 18k/year

[458]

Can someone please share their experience with HDFC ergo and Care health insurance?

I am looking to buy an individual policy for my mother and care is offering a premium which is almost half of HDFC ergo.

It seems too good to be true but is care insurance genuine when it comes to claim handling?

[m8002?]

Hi,
Does anybody have experience with claims/cashless on Super top up plans?

Which are the companies with good claims ratio?

[RR96]

Hello BHPians,
A friend of mine is conducting a survey as a part of his internship. He needs responses from many to get an effective result. I'm sharing with you the link to survey, kindly take a few minutes and share your responses. Thanking you in advance.

https://forms.gle/yVdJJ1fHQx8GsH339

Exploring WhatsApp as a key player in modern insurance services:Understanding the customer preferences while using WhatsApp in the insurance sector.

This survey is designed to understand your preferences and perceptions regarding the use of WhatsApp for managing your insurance needs. Your feedback is crucial in helping us improve our service offerings and ensure they align with your expectations and requirements. The survey consists of a series of questions and should take approximately 2-3 minutes to complete. We value your input and appreciate your time and effort in helping us enhance our services. Thank you for participating!