What components ought to I think about whereas selecting a medical health insurance coverage?

I’m 43 years previous with two youngsters and at present posted in Mumbai. My partner is 39 years previous. I need to purchase a medical health insurance coverage for my household of three dependents. Please recommend appropriate medical health insurance coverage choices. Additionally, recommend how a lot insurance coverage cowl could be sufficient in Mumbai and what components I ought to look into whereas selecting the best medical health insurance coverage?


One ought to have a minimum of 10 -15 lakh of base plan together with a low-cost tremendous top-up plan from the identical insurance coverage firm. We suggest the below-mentioned choices with premiums :

1. 10 Lakh of Reassure Plan from Niva Bupa + 40 lakh of Recharge tremendous top-up from Niva Bupa – Rs. 24788(Base)+ 2079(Tremendous Prime-up)= 26867

2. 10 lakh of Prohealth Defend Plan from Manipal Cigna + 30 Lakh of Tremendous top-up plan – 28524 (Base) + 2490 (Tremendous Prime-up) = 31014

3. 50 Lakh of Lifetime Well being Plan – Home from Manipal Cigna Medical health insurance Co. – 32214

Elements to think about earlier than selecting the best medical health insurance:

1. Choosing the precise insurance coverage quantity/Sum insured: On the time of choosing a medical health insurance plan, one ought to choose the quantity properly because it covers the medical bills for a yr. One must also check out his or her revenue ranges to research the premium inexpensive. One ought to have a Sum insured which is 1.5 occasions of your annual revenue (Self + Partner put collectively).

2. No Declare Bonus: NCB refers back to the incentive supplied by the insurance coverage firm for all of the years that you haven’t filed a declare. Often it varies from 5 to 50% pa relying on the insurance coverage firm and plan. Your protection quantity is elevated on the time of subsequent coverage renewals for all claim-free years. This issue ensures that the coverage is future-ready to get a large sum insured enhancement yearly. It’s going to be sure that ever so growing medical inflation does not eat into your sum insured over a time frame.

3. No disease-wise capping: This refers to a capping placed on numerous sicknesses no matter the sum insured within the coverage. There should not be any capping of ailments.

4. Cappings on room & ICU fees in a hospital: This refers back to the restrict on Room hire and ICU fees on a per-day foundation. One should have a look at shopping for a coverage that covers rooms on a single occupancy foundation with precise fees coated for ICU admission.

5. Further options: There are options like Refill/Annual Free well being check-up yearly/Wellness options /OPD and many others which makes a medical health insurance coverage a “New Age medical health insurance Plan.”

Question answered by Sanjiv Bajaj, joint chairman and MD, Bajaj Capital.

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