[ghodlur]

Originally Posted by varun.ppl

1. Yes, you can either increase of decrease your sum insured during your policy renewal. Usually, it's either 1 step up or down, i.e. you can go from 10 Lacs to 15 Lacs or 7.5 Lacs, you can't jump to 20 Lacs straight away.

During my buying process, I was told that any change in the Insured value will required medical checks to be done and the cost to be borne by the Insured. I think this is applicable only for increases and not for decreases. I hope this is the case. The premiums applicable are based on the particular age band, any change in the band will attract higher premiums by default. Usually the age bands are in multiples of 5. Like in my case it was from 40-44. The moment I turn 45, the premiums will increase automatically.

[NetfreakBombay]

Originally Posted by PatienceWins

Vipul Medcorp is the TPA for the policy.

Read up on reviews of this specific TPA. Quality of service will depend on that.

[varun.ppl]

Originally Posted by Holyghost

Hello Varun, I really appreciate the efforts you are taking to help us choose the right product. A big thank you for the help you are providing.
My parents (Dad 63, Mom 59) have been insured with Star Health Optima floater plan for the last 9 years. No claims have been made in those years and there is some NCB ~1L added to the policy. Since my Mom will be turning 60 next year and renewal is coming up in a few months, I am thinking of changing the Insurer to one better suited for senior citizens.

Pros of current Insurer:
Life time renewability. (That's what they claim, I do not know the hidden clauses.)
400+ Day Care procedures covered.
6000+ Network hospitals.
Automatic Restoration of Sum Insured. (I still do not understand how this works and what are the clauses. The agent always give vague answers)

Cons:
20% Co payment for 60+ age

1. I am looking for a Insurance provider who provides least co-payment, maximum renewability, good network hospitals in Trivandrum, Kerala and Bangalore. I am also planning for a Top-Up insurance and hence I think automatic restore option will become insignificant.

2. Health Checkups atleast once in 2 years.

3. What is Critical Illness coverage? Do we have to take separate coverage for Critical Illness along with normal insurance? Normal insurance brochures are silent on this, but they talk about it too much on the brochures of Critical Illness plans, hence the confusion.

I checked LnT Medisure Classic and looks good. Not sure if it is same as MediClassic you have mentioned in your post.

4. LnT brochure states "Cataract, benign prostatic .....will not be covered during the first 2 years of the policy." Will clauses like these be waived off when you use portability option since we are moving from 9Yrs continuous claim free coverage of Star Health?

5. Do you recommend going for 3L floater + 4L Super Topup (United India) for them? What are disadvantages of these Topup/ Super Topup plans?

Thanks in advance.
SF

Sir, thanks for your query. The first thing that comes to my mind is stick to this plan. Multiple reasons for the same -

1. Star Health has the best possible network coverage, especially South India.
2. 9+ years in a policy, if they aren't putting any additional loading, they would never.
3. Lifetime renewability as a clause came up as a mandate in 2013 by IRDA, wherein an insurer cannot deny renewal. But, they come up with tricks like increasing your premium to 2x...3x and even 10x (have seen such cases).

The con that you've mentioned is technically not applicable for you - Snippet from Star's website - A co-payment of 20% of each and every claim applicable for fresh as well as renewal policies for insured persons whose age at the time of entry is above 60 years.

This means, that co-payment would only be applicable in case you entered the plan post 60 years, which isn't true in your case. Another reason to stay in this plan.

Restoration means that in case you manage to exhaust your entire sum insured in a policy year, it would be restored to the same amount (once only) in the same policy year without you having to pay additional premium. The catch here is that you cannot use the restored sum insured for treatment of the same disease for which you were treated earlier.

Also, Star FHO provides you with Health Check Up's once in a block of 3 years (but only in case your sum insured is 3 Lacs+)

L&T Mediclassic (sorry, it's my lingo the plan name is medisure Classic) is a good plan, but - it has room rent limits (1% of sum insured, although you can double the same by opting in for Room Rent waiver rider), not too sure whether they provide health check up's.

Even if you choose a Max Bupa or any other plan now, most of them would have a co-pay, everyone has the same co-pay condition of entry age.

My suggestion, buy a Super Top Up (L&T, one of least expensive and good plan) and base policy, let this one run.

Regards,
Varun

Originally Posted by ghodlur

During my buying process, I was told that any change in the Insured value will required medical checks to be done and the cost to be borne by the Insured. I think this is applicable only for increases and not for decreases. I hope this is the case. The premiums applicable are based on the particular age band, any change in the band will attract higher premiums by default. Usually the age bands are in multiples of 5. Like in my case it was from 40-44. The moment I turn 45, the premiums will increase automatically.

Hi,

Change in sum insured is dependent upon insurer, Apollo requires a medical test if you're upgrading, Max doesn't even allow the change and Religare doesn't require medicals.

Premium is dependent upon the age slabs which typically are -

18 - 35, 36 - 45 and then every 5 years.

For Max Bupa and Cigna, premium changes every year.

Best,
Varun

[Holyghost]

Originally Posted by varun.ppl

Sir, thanks for your query. The first thing that comes to my mind is stick to this plan. Multiple reasons for the same -
.....
The con that you've mentioned is technically not applicable for you - Snippet from Star's website - A co-payment of 20% of each and every claim applicable for fresh as well as renewal policies for insured persons whose age at the time of entry is above 60 years.

This means, that co-payment would only be applicable in case you entered the plan post 60 years, which isn't true in your case. Another reason to stay in this plan.

......
My suggestion, buy a Super Top Up (L&T, one of least expensive and good plan) and base policy, let this one run.

Regards,
Varun

Thank You Varun. The only Con that I had (or I thought I had) with Star health was the Co-payment clause. If that is not applicable, I am happy to continue with the current insurance.

Meanwhile I had called LnT to enquire about port-in to Medisure Classic. Quoting the exact words from their customer service executive: "As per IRDA rules, we do not provide portability option for health covers for persons aged 60 and above." They repeatedly claimed that it was an IRDA rule.

As recommended, I will go with current plan and will additionally take Super Top-up (Will look at Lnt, but the above conversation with CSE makes me rethink about their ethics). Thanks again for the valuable advice,
~SF

[varun.ppl]

Originally Posted by Holyghost

Thank You Varun. The only Con that I had (or I thought I had) with Star health was the Co-payment clause. If that is not applicable, I am happy to continue with the current insurance.

Meanwhile I had called LnT to enquire about port-in to Medisure Classic. Quoting the exact words from their customer service executive: "As per IRDA rules, we do not provide portability option for health covers for persons aged 60 and above." They repeatedly claimed that it was an IRDA rule.

As recommended, I will go with current plan and will additionally take Super Top-up (Will look at Lnt, but the above conversation with CSE makes me rethink about their ethics). Thanks again for the valuable advice,
~SF

Sir,

As such there's no IRDA mandate, usually insurers are wary of taking high risk cases, to be upfront, there's a high possibility of you taking a claim now, rather than earlier. Hence, they're giving "Gyaan" about IRDAI etc.

Don't worry, you've a good plan, continue with the same.

Best,
Varun

[Kool_Kid]

Hi Varun,

Many thank for your support to the communitiy . I currently have 4+4 cover by my company includes my Mom and Dad at 25 K.

can i get additional cover for then but their age is 72 .

kindly advise .

Regards,

Gaurav

[varun.ppl]

Originally Posted by Kool_Kid

Hi Varun,

Many thank for your support to the communitiy . I currently have 4+4 cover by my company includes my Mom and Dad at 25 K.

can i get additional cover for then but their age is 72 .

kindly advise .

Regards,

Gaurav

Hi Gaurav,

A little difficult to procure a super top up cover i.e. deductible options as most of them have a restricted entry age upto 65 years.

Standalone health plans of L&T and Max Bupa would be available, but then they'll imply a co-pay of 20% as entry age is post 60 years. Would suggest Max Bupa if you're looking forward to a high sum insured (>5 Lacs), else L&T works perfectly fine.

Apart from this there's a plan by Star Health - Red Carpet, which is specifically meant for senior citizens, but has a huge catch in terms of average co-pay going upto 35% per claim made.

Regards,
Varun

[RavSam]

Originally Posted by varun.ppl

Hi Sam,...
Best,
Varun

Hello Varun! I must say that there really should have been a 'thanks' button for all the help that you are providing to all of us. Really really appreciate it!

After your suggestion I think I might go with Religare or Star HI since I live in Virar, Maharashtra and there aren't many hospitals affiliated. :(

Since you work for the same firm that I had enquired to, they haven't shown hospital locator fro Religare and so on the Religare's website I could locate only 3 at Vasai. Max Bupa (sadly) has none!

But I am still confused whether to go for Individual or Family floater. Is family floater good if my parents don't have any existing ailments (mom-58, dad-61)?

How is Star HI compared to Religare? % of claim settlement? There are just 2 Hospitals for Religare and 15 for Star HI. Should I go for Star HI?

And how much amount should I apply for? Because for extra 1.2K the cover increases by Rs.5 lac. So, please help me! I know I am asking for too much help but can't help it in this case. Sorry

[varun.ppl]

Originally Posted by RavSam

How is Star HI compared to Religare? % of claim settlement? There are just 2 Hospitals for Religare and 15 for Star HI. Should I go for Star HI?

And how much amount should I apply for? Because for extra 1.2K the cover increases by Rs.5 lac. So, please help me! I know I am asking for too much help but can't help it in this case. Sorry

Hi Sam,

All the questions being posted is an appreciation well enough for me, it's just the knowledge in this field which is helping fellow forum members.

I know, that a hospital locator isn't a part of the platform, I was initially heading that project, but some petty politics and multiple revisions in responsibility for the project, it's somewhere in a limbo. There's a version out there on the website, sharing the link, but it again doesn't have Religare.

http://www.policybazaar.com/network-hospital/#/

Both Star and Religare are good, but the only problem that you'll witness is that you can't insure more than 2 adults in a floater policy. So, a single policy for the three of you is only available through Max Bupa. Other insurers do have individual cover for multiple members (in a single policy), but trust me, they come out to be expensive.

Ideally, buy a Star for your parents (due to proximity of hospitals) and buy a Religare NCB Individual for you. For your parents, you get a separate rebate under 80D (senior citizen) and for yourself you again get a separate rebate.

No, you weren't asking much. Yea, if you has asked about PSU's or the Govt. initiated schemes then I would have required some brush up and research. Do let me know in case you require any further info.

Regards,
Varun

[RavSam]

Originally Posted by varun.ppl

Hi Sam,

All the...
Regards,
Varun

Thank you so much Varun!
I really can't thank you enough!
Phew! your simple and clear advice has greatly helped me in narrowing down the options!
I thought googling the query would help me but 'The more you know the less you understand' is what really happened! What with some of the most confusing sentences and terms and conditions plus clauses put up on the websites!

So, final (I am saying final but please bear with me!) few questions!
1. Star HI floater for parents and Religare NCB for me
OR Star HI floater for parents and Star HI individual for me.

2. Amount of cover? 10-15-20 lacs or lesser?

3. Is it sensible to pay ~1.2-1.5K extra and get Rs.5 lac additional/incremental cover and the critical illness cover cars for ~600 bucks?

This will be along with 'Pradhan Mantri Suraksha Bima Yojana' (Accidental Ins.) and 'Pradhan Mantri Jeevan Jyoti Bima Yojana' (Life Ins.).

Anything else to get then please let me know.

Regards,
Raviraj

[varun.ppl]

Originally Posted by RavSam

Thank you so much Varun!
I really can't thank you enough!
Phew! your simple and clear advice has greatly helped me in narrowing down the options!
I thought googling the query would help me but 'The more you know the less you understand' is what really happened! What with some of the most confusing sentences and terms and conditions plus clauses put up on the websites!

So, final (I am saying final but please bear with me!) few questions!
1. Star HI floater for parents and Religare NCB for me
OR Star HI floater for parents and Star HI individual for me.

2. Amount of cover? 10-15-20 lacs or lesser?

3. Is it sensible to pay ~1.2-1.5K extra and get Rs.5 lac additional/incremental cover and the critical illness cover cars for ~600 bucks?

This will be along with 'Pradhan Mantri Suraksha Bima Yojana' (Accidental Ins.) and 'Pradhan Mantri Jeevan Jyoti Bima Yojana' (Life Ins.).

Anything else to get then please let me know.

Regards,
Raviraj

Hi Ravi,

My recommendation would be Star Family Health Optima (either 5 Lacs or 10 Lacs) for your parents and Religare Care NCB for you (5 Lacs cover is good, don't go for less, as then it has limited room rent limits etc., don't go more, as you'll anywhich ways get 150% no claim bonus in 5 years (provided, no claims)).

Rather than buying a heavy (read - higher sum insured policy), buy a super top up, only for your parents in the current time. For you, I believe it's not required. L&T is a good option, Star doesn't have a super top up, it's just a normal top up. Do let me know, if you need to understand the difference between the two as well.

It makes sense to buy a Critical Illness cover, but just check whether your parents would be eligible, a lot of insurance companies usually don't provide a critical illness cover post 45 years of age. For you, it makes sense.

For you, I would suggest a Personal Accident cover over and above the Pradhan Mantri Yojna (2 Lacs is nothing in today's world). A 10 Lacs Personal Accident cover makes a lot of sense at about Rs. 999/year (Bharti Axa ~ price would be +/- 100).

Buy a PA, if and only if, you commute to work using a 2W, as it's more risky. Else, it's your discretion.

As I would like to put it, too much safety makes us live in a cocoon, but we are free spirits!

And anytime or any further needs/advice, you require, don't feel shy. Just shoot your query across.

[RavSam]

Originally Posted by varun.ppl

Hi Ravi,

My recommendation would be Star Family Health Optima
And anytime or any further needs/advice, you require, don't feel shy. Just shoot your query across.

Hello Varun!

Okay! I will go as per what you have said.
I won't go for separate PA as I don't commute via 2 wheeler so that can be done later.

How to get Critical illness cover? as in is it 1 per policy like 1 for mom-dad together and another one for me or a single one for all the 3 of us?

And please explain the normal top-up and super top-up!

Thank you!

[varun.ppl]

Originally Posted by RavSam

Hello Varun!

Okay! I will go as per what you have said.
I won't go for separate PA as I don't commute via 2 wheeler so that can be done later.

How to get Critical illness cover? as in is it 1 per policy like 1 for mom-dad together and another one for me or a single one for all the 3 of us?

And please explain the normal top-up and super top-up!

Thank you!

Hi Ravi,

Critical illness can either be a bundled rider or a standalone policy, in your case it would be add on/additional policy, 3 separate policies for all 3 members. Typically, this would make sense.

Top up's are typically catastrophic products i.e. your claims don't get aggregated and hence you're only paid a claim if your claim amount is more than the deductible amount.

Super Top's are more advanced and aggregate claims within a policy year and hence there's a better probability of the insurance company paying a claim rather than you.

I have written a specific article on this, would share the link of the same (if I can find it), as it is available with an illustration.

Regards,
Varun

[RavSam]

Originally Posted by varun.ppl

Hi Ravi,

Critical illness can either be a bundled rider or a standalone policy...
I have written a specific article on this, would share the link of the same (if I can find it), as it is available with an illustration.

Regards,
Varun

Oh oh! How I wish I could meet you and talk to you personally to clear all doubts in one shot!

1. Can I have Star Health Insurance with Super-top up of L&T? (or am I asking stupid question!?)

Now there's only 1 Hospital for L&T where I live (4 of Star's) and 3-4 in the nearest city.

Religare Care NCB for me is fixed! done!

2. Now regarding parents L&T or Star!? Since you brought up the super-top up option.

I so feel like a KG kid in a Ph.D class

On Monday I will get all this done. Darn it.

[pgupta]

Hello Varun, I am planning to buy a critical illness cover. Could you please suggest a good critical illness plan ? Thanks for your help.