Health insurance queries? Ask me!

huntrz · 17th February 2010, 13:04

Quote:

Originally Posted by rjvora_2000

Your comments on this letter are most welcome.

quoting from the document-
"A Prospectus of a health insurance policy shall contain disclosures about the terms of its renewal to enable the consumer to take an informed decision. This would include material information related to the coverage and likely premium for future renewals of the policy, including but not limited to a disclosure of the maximum age upto when renewal will be available..."

hence IRDA doesn't forbid the insurer from having an upper age limit for a policy, but that should be disclosed while selling the policy. As for cholamandalam they mention it on their site as well as while selling that the policy is renewable upto 69 yrs of age.

rjvora_2000 · 17th February 2010, 16:16

Quote:

Originally Posted by huntrz

quoting from the document-
"A Prospectus of a health insurance policy shall contain disclosures about the terms of its renewal to enable the consumer to take an informed decision. This would include material information related to the coverage and likely premium for future renewals of the policy, including but not limited to a disclosure of the maximum age upto when renewal will be available..."

hence IRDA doesn't forbid the insurer from having an upper age limit for a policy, but that should be disclosed while selling the policy. As for cholamandalam they mention it on their site as well as while selling that the policy is renewable upto 69 yrs of age.

This is a new addition to the policy as I have the brochure of there product which does not have this condition. I bought this product seeing this brochure.

rishab.k · 18th February 2010, 10:58

Apollo Munich mentions it's renewable life long. I hope there isn't a catch somewhere.

rjvora_2000 · 18th February 2010, 11:47

Quote:

Originally Posted by rishab.k

Apollo Munich mentions it's renewable life long. I hope there isn't a catch somewhere.

On the second page of the policy they write it clearly that policy is life long renewable. - I have seen the policy.

BenjiRoss · 18th February 2010, 21:36

Are there any Travel Health Insurance packages that will cover pregnancy and delivery abroad?

rjvora_2000 · 19th February 2010, 09:51

Quote:

Originally Posted by BenjiRoss

Are there any Travel Health Insurance packages that will cover pregnancy and delivery abroad?

Till now not heard about any kind of, that product in India.

Deep Blue · 17th March 2010, 22:48

Which is better? ICICI prudential Health saver policy or LIC's Health Plus. Both are ULIP based policies.

ghodlur · 18th March 2010, 14:07

Quote:

Originally Posted by rjvora_2000

On the second page of the policy they write it clearly that policy is life long renewable. - I have seen the policy.

Does that mean if I take health Insurance policy for my parents in the age group 65-70 the policy can be renewed life long. I doubt that. But in the first place will Apollo Munich provide health Insurance for the age bracket?

rjvora_2000 · 18th March 2010, 15:52

Quote:

Originally Posted by Deep Blue

Which is better? ICICI prudential Health saver policy or LIC's Health Plus. Both are ULIP based policies.

I am not aware of those product. Please someone else can help on this query?

Quote:

Originally Posted by ghodlur

Does that mean if I take health Insurance policy for my parents in the age group 65-70 the policy can be renewed life long. I doubt that. But in the first place will Apollo Munich provide health Insurance for the age bracket?

You can renew the policy life long but check the entry age in the policy.

Deep Blue · 20th March 2010, 10:36

[quote=rjvora_2000;1789550]I am not aware of those product. Please someone else can help on this query?

Here is what I made out about these two policies. Broadly, of the premiums that you pay, a portion goes to give you a regular health cover. The remaining is invested in ULIPS to create a health fund for you. During a claim, those that are not covered in regular health covers ( preexisting illness, OPD charges etc) can be redeemed from the health fund units. Of course there are some restriction and there are charges as well. Here are the links
ICICI Prudential Health Saver - Why Health Saver?
Life Insurance Corporation of India

If a person is able to save 15-20000 annually and invest it in a recurring fixed deposit or good mutual funds every year strictly without fail, then i think he/she should be able to build a good corpus by the time they are 60-65yrs. This is considering they start as early as 30yrs. Given such a scenario, is health insurance really necessary? Are we paying these companies unnecessarily?

Long post, sorry.

NK@Hyd · 21st March 2010, 13:01

Guys,

Has anyone taken an Apollo Munich 360 Maxima plan yet?

I am planning to take this policy for my parents and myself. Parents already have a Medsave policy for 1 lakh coverage.

At approx. Rs. 24000 for dad, Rs. 17000 for mom and Rs. 14000 for myself, the annual premiums for Apollo do seem a bit pricey.

rjvora_2000 · 22nd March 2010, 11:11

Quote:

Originally Posted by Deep Blue

If a person is able to save 15-20000 annually and invest it in a recurring fixed deposit or good mutual funds every year strictly without fail, then i think he/she should be able to build a good corpus by the time they are 60-65yrs. This is considering they start as early as 30yrs. Given such a scenario, is health insurance really necessary? Are we paying these companies unnecessarily?

Health insurance is a very good option to be opted for imagine if some one takes a policy by paying Rs. 10000 for Rs. 300000 sum and meats with an accident and there is a claim of Rs. 200000.

Saving Rs. 10000 per year he will take 20 year's to save Rs. 200000. Remember there is no option to Health insurance you have to take it.

nishantgandhi · 24th March 2010, 12:25

Rupesh ji,

Is there any health/medical insurance plan (i.e. eligible for deduction u/s 80D) which offers premium payment through monthly/quarterly mode (preferably via ECS)? I have searched around a lot but couldnt find any.

Also, what is the difference between traditional health insurance plans and the new ones (ULIP based) such as those offered by ICICI Pru?

OT - Do you also deal in car insurance?

mkh · 24th March 2010, 12:43

There is a very nice policy that is offered by Royal Sundaram through Amsure. Its new and has very good offers. The premiums are not as high as others and claim processing is very good.Upto 35 years for 2 adults and 2 kids has annual premium Rs 6481
There is facility for daily allowance in case of hospitalization which is really nice.
Entry is upto Age 65, i have taken for self and for family.
PM me if you need more information on this. I can provide you contact number of person through who you can get this( my family friends)

Shankyz · 25th March 2010, 23:07

Can we TBHPians form a group and sign-up for Group Health Insurance? I think it will be a much better option than signing up for plans on individual basis, we will get more insurance cover for same premium, existing disease coverage and can include parents too?

Is it possible? If yes, which Providers agree to sell Group Medical Insurance to Pvt Groups?

18th February 2010, 10:58	#123
rishab.k BHPian Join Date: Jun 2009 Location: Lucknow Posts: 173 Thanked: 13 Times	Apollo Munich mentions it's renewable life long. I hope there isn't a catch somewhere.
	() Thanks

18th February 2010, 21:36	#125
BenjiRoss Senior - BHPian Join Date: Jul 2008 Location: Tamilnadu Posts: 1,070 Thanked: 1,335 Times	Are there any Travel Health Insurance packages that will cover pregnancy and delivery abroad?
	() Thanks

17th March 2010, 22:48	#127
Deep Blue BHPian Join Date: Sep 2009 Location: Udupi Posts: 767 Thanked: 745 Times	Which is better? ICICI prudential Health saver policy or LIC's Health Plus. Both are ULIP based policies.
	() Thanks

20th March 2010, 10:36	#130
Deep Blue BHPian Join Date: Sep 2009 Location: Udupi Posts: 767 Thanked: 745 Times	[quote=rjvora_2000;1789550]I am not aware of those product. Please someone else can help on this query? Here is what I made out about these two policies. Broadly, of the premiums that you pay, a portion goes to give you a regular health cover. The remaining is invested in ULIPS to create a health fund for you. During a claim, those that are not covered in regular health covers ( preexisting illness, OPD charges etc) can be redeemed from the health fund units. Of course there are some restriction and there are charges as well. Here are the links ICICI Prudential Health Saver - Why Health Saver? Life Insurance Corporation of India If a person is able to save 15-20000 annually and invest it in a recurring fixed deposit or good mutual funds every year strictly without fail, then i think he/she should be able to build a good corpus by the time they are 60-65yrs. This is considering they start as early as 30yrs. Given such a scenario, is health insurance really necessary? Are we paying these companies unnecessarily? Long post, sorry.
	() Thanks

21st March 2010, 13:01	#131
NK@Hyd BHPian Join Date: Dec 2008 Location: Hyderabad Posts: 60 Thanked: 5 Times	Guys, Has anyone taken an Apollo Munich 360 Maxima plan yet? I am planning to take this policy for my parents and myself. Parents already have a Medsave policy for 1 lakh coverage. At approx. Rs. 24000 for dad, Rs. 17000 for mom and Rs. 14000 for myself, the annual premiums for Apollo do seem a bit pricey.
	() Thanks

24th March 2010, 12:25	#133
nishantgandhi Senior - BHPian Join Date: Jan 2008 Location: Mumbai Posts: 1,223 Thanked: 156 Times	Health/Medical insurance premium thru ECS? Rupesh ji, Is there any health/medical insurance plan (i.e. eligible for deduction u/s 80D) which offers premium payment through monthly/quarterly mode (preferably via ECS)? I have searched around a lot but couldnt find any. Also, what is the difference between traditional health insurance plans and the new ones (ULIP based) such as those offered by ICICI Pru? OT - Do you also deal in car insurance?
	() Thanks

24th March 2010, 12:43	#134
mkh Senior - BHPian Join Date: Oct 2009 Location: Bangalore Posts: 1,072 Thanked: 135 Times View My Garage	There is a very nice policy that is offered by Royal Sundaram through Amsure. Its new and has very good offers. The premiums are not as high as others and claim processing is very good.Upto 35 years for 2 adults and 2 kids has annual premium Rs 6481 There is facility for daily allowance in case of hospitalization which is really nice. Entry is upto Age 65, i have taken for self and for family. PM me if you need more information on this. I can provide you contact number of person through who you can get this( my family friends)
	() Thanks

25th March 2010, 23:07	#135
Shankyz BHPian Join Date: Dec 2006 Location: Delhi Posts: 200 Thanked: 2 Times	Can we TBHPians form a group and sign-up for Group Health Insurance? I think it will be a much better option than signing up for plans on individual basis, we will get more insurance cover for same premium, existing disease coverage and can include parents too? Is it possible? If yes, which Providers agree to sell Group Medical Insurance to Pvt Groups?
	() Thanks