[hrman]

Originally Posted by speedgun

Had taken Apollo Munich family floater one month before. Now I am really skeptic about my decision on finalizing AM. I had requested for hard copy two weeks before and it’s still not dispatched. I did call them all the say is will be dispatched by end of day. Also seems they don't have a good CRM system which tracks customer concerns, every time I call it’s a new story. If this is how they do business what if I have a claim, not the kind of service I really expected. How is Star Health? thinking of porting to Star by next year.

Not sure of how the card thing works, as I have received the cards for me and my wife a few days after renewal of the policy. I have the Apollo Munich Optima Restore family floater since over 5 years. I had made my first claim last September. Pretty hassle free and settlement was done in 10 days. I think you have made a good decision to go with them. Maybe try the portal method as mentioned above for the cards.

[speedgun]

Thank you both diyguy and hrman for your valuable suggestions. Ya I do have soft copy of policy and card with me. It was an effort from my end for checking their quality of service for which I have requested hard copy of my policy. Usually Aviva and BharatiAxa used to dispatch policy documents with in two days on request.

[sugam]

Dear All

Came across this new option while looking for health insurance - Aditya Birla Capital health insurance. They're offering a cover of up to 1Cr for the same premium that I'll be paying the traditional insurers for a 10 Lac cover.

Upon studying the policy details, looks like a very good option, unless I am missing something, in which case, please enlighten me.

Many Thanks!

[techcoze]

Till last year I had Apollo Munich health insurance (since my company mediclaim was mere 2 lakh). This year I switched the job, and new company offers 5 lakh medical insurance for each family member.

My age is 37 years. Should I stop my earlier mediclaim policy since my company conver is adequate. Some people advice to continue stating that in later age it would be difficult to get new personal policy. Is this true?

Or should I continue personal policy, but by reducing conver amount to minimin possible?

[ghodlur]

Originally Posted by techcoze

Some people advice to continue stating that in later age it would be difficult to get new personal policy. Is this true?

Or should I continue personal policy, but by reducing conver amount to minimin possible?

Very true. IMHO you should continue the personal health insurance along with the company provided medical insurance. No need to reduce the cover amount, just ensure that you keep increasing the cover amount with every passing year. Since your age is less, the premium amount would not burn a big hole in your pocket.

[hothatchaway]

Originally Posted by ghodlur

No need to reduce the cover amount, just ensure that you keep increasing the cover amount with every passing year.

Hello,


Wanted to understand what you meant by increasing the cover amount every year. Is it not convenient to have a sufficient cover (which will vary basis individual situation) built in at the very outset since most many policies ask for a medical test and may require additional tests in case there is a request to increase the cover?
thanks

[ghodlur]

Originally Posted by hothatchaway

Wanted to understand what you meant by increasing the cover amount every year. Is it not convenient to have a sufficient cover (which will vary basis individual situation) built in at the very outset since most many policies ask for a medical test and may require additional tests in case there is a request to increase the cover?
thanks

Considering that fact medical expenses are the fastest growing expenses, it pays to keep increasing the medical coverage amount. For eg a cover of 10L today may be less two years down the line. Alternatively the NCB earned for an year can be used to increase the cover rather than reduce the premium.

Generally medical tests are to be done once you cross over to the next age slab or if your cover exceeds a certain limit. It is always good to get the medical test done during the cover increase, medical test expenses are usually borne by the Health Insurance co.

[aadya]

Originally Posted by sugam

Dear All

Came across this new option while looking for health insurance - Aditya Birla Capital health insurance. They're offering a cover of up to 1Cr for the same premium that I'll be paying the traditional insurers for a 10 Lac cover.

Upon studying the policy details, looks like a very good option, unless I am missing something, in which case, please enlighten me.

Many Thanks!

Looks like a regular health insurance policy with some good features. Can go ahead if it suits you well. I don't see any red flags, and is listed with all other health insurance policies in coverfox.

[aadya]

My dad is 69 years old and has been covered with Religare Care policy for the past 5 years. Started with premium of 17k for 5 L and they increased it to 31k last year and is 32k this year. No claims has been made so far.There is an additional cover of 250000 as no claim bonus(so total cover of 7.5L).

I have got an offer from Star Health for Senior Citizen Red carpet plan 26k for a 10Lakh cover with continuing benefit. There are numerous sub limits and restriction for specific illness. It has life time renewabilty and the premium would remain the same. Does it make sense to port? I have attached the brochure for reference.

[ritz3645]

Hi, this is a query regarding the situation we are in.
Brother works for Indiabulls. Few weeks back viral fever, then collapsed this Monday. Took him to a Hospital where he was admitted and diagnosed with G B syndrome. The hospital contacted the company health family policy provider as was approved a spend of 2.5 lac.
I was not around and injections are very expensive, like one for 60-80k. I am not sure who is guiding my brother, but he has purchased three injections personally and will be claiming later under the same corporate policy.His plan is to round up the hospital bill to the approved ie. 2.5 lac. When I spoke to the hospital accountant of 2.5 lac earlier he was of the view that usually it is the procedure ie. insurance provider approves an amount, the if things exceed, they need to ask the provider to increase the amount. Which usually is granted as per situation.

I do not have a say now, but still will like to be prepared. Seek advise. Corporate employee Insurance provider is a govt think United and brother did mention of a limit of 9 lac.

[ghodlur]

Originally Posted by ritz3645

The hospital contacted the company health family policy provider as was approved a spend of 2.5 lac.

Two things quite strange:
1) Hospital asking the Health policy provider when it should have been you
2) health policy with a restriction. Generally it is at actuals and till 9L

it is better to contact the HR dept to speak to the Health policy Insurance co to settle the bill rather than limiting the expenses.

[blorebuddy]

Hi All,

I am planning to take a new health insurance in addition to my office family floater (covering 6L). I also have option to continue this insurance in case of my employment ends.

Here are my questions

1) I am planning to take only for myself and my wife only in a floater instead of covering my kids also in this. Will this reduce premium for me compared to a family floater including my 2 children?
2) I have option to increase the cover at office by paying more premium. Is this a better option compared to buy another one myself?
3) Any recommendations of the insurance company & policy to go with.

[Dry Ice]

Just thinking out loud. What if one can set aside the lumpsum coverage (maybe invest it somewhere as well to grow the corpus) and keep adding to it every year? I say this because of a lot of negative feedback I keep hearing about the health insurance claims every year, coupled with the fact that premiums keeps rising every year for people above 50 years of age?

I have been renewing the health insurance for my folks who are both above 65 now and the cover is a mere 6L. I can set aside 6L strictly for medical exigencies now and then keep adding to this every year as I am pretty sure the premium will cross 50k/annum in the coming weeks.

Any thoughts guys? If it would be foolish to do so, want your opinions.

[hothatchaway]

Originally Posted by Dry Ice

I have been renewing the health insurance for my folks who are both above 65 now and the cover is a mere 6L. I can set aside 6L strictly for medical exigencies now and then keep adding to this every year as I am pretty sure the premium will cross 50k/annum in the coming weeks.

Any thoughts guys? If it would be foolish to do so, want your opinions.

Unless there is a copay involved, you may still want to keep it. Insurance is nothing but a hedge against a probability of mishap and only you can evaluate the factor. Consider factors like how healthy your parents are, what kind of lifestyles they lead (do they spend a lot of time outdoors, ie the probability of a mishap etc) Finally, go over the T&C of the policy to figure out if it would come in handy when you need it.


Even for people who are under 60, a private healthcare policy is a good idea for eventualities like accidents/generic diseases which require hospitalization. Its just tough luck if its a specific condition/non communicable life threatening ailments where one is not sure if the insurer may find a way to wiggle out and not pay. That is where one does a cost benefit analysis of the premium to be paid against the coverage amount.

[Dry Ice]

Originally Posted by hothatchaway

Unless there is a copay involved, you may still want to keep it. Insurance is nothing but a hedge against a probability of mishap and only you can evaluate the factor.

The point is it's a hedge against mishap only up to a limit right? The maximum liability.

That is where one does a cost benefit analysis of the premium to be paid against the coverage amount.

Agreed, that's what am trying to do and understand if there are any positives that I am missing in deciding against renewing the policy next year.

If I have the max liability equivalent already with me, I don't need to go through the hoops to get the claims addressed etc. I have also heard of rampant bill inflation as soon as one mentions insurance on the hospital bill desk. So is it really worth the trouble? Why not simply save and pay out of your pocket?