I’m a wholesome 31-year-old bachelor, with dependent dad and mom. I’ve a company medical health insurance coverage for ₹3 lakhs. Do I’ve to purchase one other well being coverage? And, in that case, ought to I purchase a household floater plan or a person well being coverage?
– Title held on request
The correct stage of sum assured relies upon largely on the place you reside and are prone to get hospitalized. The most costly are the ‘luxurious hospitals’ in metros, and the prices improve as you go to smaller cities. Even inside the identical hospital, the price of a surgical procedure might fluctuate by 30 to 40% relying on the kind of room chosen.
As a rule of thumb, one can buy protection that’s at the least equal to their annual earnings, or a minimal sum assured of ₹10 lakhs. This must be additional revised upwards in case the person has an opposed household medical historical past.
Do remember that the sum assured must be excessive sufficient to consider medical inflation over time.
Sometimes, household floaters are probably the most cost-effective. Nonetheless, in your case since you are an grownup and there may be prone to be at the least a 20-year age distinction along with your dad and mom, you can purchase an unbiased coverage for your self and take into account insuring your dad and mom in a household floater.
You will need to have your personal medical health insurance even if you’re coated below a company plan as a result of it’s possible you’ll change jobs or your present firm can modify their medical health insurance advantages over time.
I’m 58 years of age and will likely be returning within the subsequent couple of years. I used to be thus far coated below my company insurance coverage coverage. Please recommend a great medical health insurance plan for me and my 54-year-old spouse. Do be aware that my spouse is a coronary heart affected person and I’m a diabetic. Ought to we go for a senior citizen-specific plan or an everyday well being coverage? Is there any distinction in such plans? What quantity of protection ought to we take a look at?
—Title held on request
Senior citizen plans are designed to cater to individuals inside a better age group and with some pre-existing illnesses. The common plans usually have stricter coverage issuance standards. Most senior citizen plans supply protection for pre-existing circumstances sooner than the common plans. Nonetheless, such plans carry greater sub-limits. The sum assured obtainable below senior citizen plans are additionally decrease than the common plans.
It is best to first apply for an everyday plan. In case there may be any problem within the issuance of the coverage, then it could make sense to use for the senior citizen plan.
It is best to have a protection of at the least ₹10 lakhs.
Abhishek Bondia is principal officer and managing director, SecureNow.in.
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