All you should know about health insurance before buying
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Created by : Amit.Saha
Best Health Insurance Buying Guide is here -
A health insurance policy helps you and your family to meet any unexpected medical emergency costs. But the penetration of health insurance in India is abysmally low. To address this gap and to ensure health insurance for all, the Insurance Regulatory and Development Authority of India (IRDAI), the country’s insurance regulator, has introduced a standard health cover policy that must be offered by all general and standalone health insurers. This standard health policy is Arogya Sanjeevani. Insurance companies including HDFC Ergo, SBI General and Manipal Cigna have already launched this product and soon other insurers may follow.
Penalty for taking claim. Whenever you take claim in a year, your insurer will penalize you for it (Usually by reducing accrued NCB by same rate as of in increase). No penalty or low penalty is better.
E.g. Max bupa doesn’t penalize for taking claim
- Majority of PSU insurer (National, united etc.) don’t provide this feature.
Sir sbi general insurance do not penalize for taking claims sorry to say u are also also providing wrong information and by the way please tell which company provide policy in 8927 rupees of 3 lakh cover for two adult upto 65 age and 2 child upto 25 age in 8927
Kindly research before posting
Please read carefully. Penalty is in form of reduction in NCB accrued.
When majority PSU doesn’t give NCB, there is no discussion about penalty in it.
Btw, SBI general insurance gives NCB benefit?
What wrong information I gave here?
For me, Cigna Manipal is best. Also it gives you 2k OTC claim as well and hence you effectively reduce cost by 2k per person. No hassles for me as my agent does all the things but I haven’t had an opportunity to use it in last 3 years
Oh didn’t know about SBI plans. Just took Religare last month.
@drjpatwa bro howz the max bhupa and Aditya Birla? Some suggest me for max bhupa for parents like policy bazaar and Insurance dekho etc. Premium is around 40k for 5 lakh cover pls suggest
Dear Dimers By the way you can also chat regarding claim issues and
if you want to renew and take policy from some other company too BOTH LIFE,General,Motor and Mediclaim and Accidental insurance ,GMC ,COVID 19 ins and i can provide you cheap and best quote in the market
I am in insurance industry since 15 years please feel free to PM me for any query
https://www.irdai....in › cmsPDF
arogya plus policy – irdai
you can check all insurance company policy wording and premium chart at this site
I dont know how to attach
Dimers please do the needful
Dear Dimers one more very important docs i want to share Personal accident policy
SBI general insurance offers lowest premium of 1200 to 1500 for 50 lakhs cover Table A
Normal premium of other company is around 2500 to 3000 rs.
Table A –
Accidental death
Table B -
Accidental death + Permanent Total Disability (PTD)
Table C –
Accidental death + Permanent Total Disability (PTD)
+ Permanent Partial Disability (PPD)
Table D –
Accidental death + Permanent Total Disability (PTD)+
Permanent Partial Disability (PPD) + Temporary Total Disability (TTD)
Most person have or took Term plan please check premium differernce as riders were offered with double the premium and coverage mostly upto 65 age only and no life long renewal benefit and no Cumulative bonus of 5 percent every year and in 1200 rupees a year no other company offers 50 lakhs Accidental death benefit with no age restriction
Lic tech term plan offers. Accidental benefit rider at RS.250 for 500000 cover .RS.250+ GST. So take Lic tech term plan at RS.5000000 basic sa plan starting + take accidental rider at mentioned prices instead of increasing sa amount at higher premium. No need to go any other insurer for term plan.
LIC premium is very very high best option right know is Bajaj allianz,tata aia,edelweiss,etc
@devbehel172 ur suggested Sbi health insurance looks good prima facie. Thanx for suggesting it.
Few queries:
Where to check city wise network hospital tie-up for cashless? I couldn’t find it in their website.
Since how long Sbi is in health insurance plan? & This plan is running since how many years?
Can you provide first hand experience of claim settlement etc. In it for any of your Customer?
If everything is good, it looks like I need to change my insurer preference & put Sbi at 1st or 2nd spot. Mainly because of uniform premium across all age group (benefit looks great in 50+ age group)
We hope that unlike other insurance, they won’t change premium later on…
Paramount is Tpa in North and sbi general insurance is in insurance industry since 2009
24772 premium for 3 years and income tax rebate under SECTION 80 D FOR EXAMPLE highest slab taken 7000rs app tax rebate u can save and in
18000 rs you are paying for 3 years 6000 per year only.
No better option Take topup and super to up for additional cover
Example take for adults upto 65 years age and child upto 25 years
2C and 2 C. 6000 after tax rebate for 1 year its best option
Another best option is GMC with no Age limit and PED coverage from 1 st day and maternity can also be covered from 1 st day without waiting period and premium are very less in comparision to individual policies.
My father is an SBI Customer and is 63 years old. Can he get this policy? He has diabetes. What would be the annual premium for a cover of 5 lakhs?
@drjpatwa
Sir i have selected manipal cigna for my parent (age 50). My policy covers for 5.5lakh and premium is 19000 yearly.
Due to discount i went through 3 years payment and paid 55000.
Since i had declare high bp (no hospitalization history) and went through telephonic medical checkup so they had add a addtional loading of 10000 rupee.
Now my queation is how these loading works. Means this loading is one time charagable or payabale on each renew.
Also is 10000 loading is common for 19000 yearly premium (55000 three year policy).
Others commets are also welcome
Every insurer has their own Under-writing team. Who decides whether to give policy to disease person or not. & if yes at what loading rate.
So difficult to say its normal or not. Some insurer levy around 20% for diabetes or Bp.
This 10000 is for 3 years or 1 year? 19000+10000 = 29000 yearly premium?
Basically there are few things to consider before purchasing health insurance: Claim Process, Family Health Insurance, Network hospitals, Policy Renewal benefits, Pre/post-hospitalization, Free Medical Check-up, etc. You can read more about it from here https://www.etmoney.com/blog/tips-to-choose-the...
Is there any insurer who provides health insurance cover to a person who has undergone open heart surgery for closure of hole in the heart. Now person is completely healthy. Age24 years.
Check for Star health insurance. They have special plan for cardiac disease.
Also check max, bajaj, Aditya Birla. These insurer are usually taking risk & giving policy for diseased person…
Hi Guys,
Thank you for the valuable information. I am single right now, suppose I take Individual health plan today and then after marriage can i convert policy to family floater? If yes will the existing benefits will carry forward.. Please suggest.
Also I see policybazzar accepts Amazon pay; so can i renew my health policy with policybazzar next year as well?
Thanks so much in advance.
If you continue with same insurer after marriage as family floater then ur waiting period benefit will continue. But about NCB benefit you have to read policy wordings. It might differ company to company…
Sorry if some body is thinking i am spamming the group and earning commision
Please check premiunm charges online and connect to local agents you will definately know the difference.
You are doing good work, so do not be sorry.
People will benefit most if u create a topic with policy highlights and links.
BTW taking commission is not wrong, here we all trade to save/earn few bucks.
One More thing i want to say Many private insurance company gives C to agents upto 20 to 30 and Gifts too from your hard earned money to Insure Healthy persons and they mostly dont accept non healthy persons and PSU 15 to 20 ok……
Currently Paramount is TPA in Pan india and in North east is Medicare
And you can send me hospital list for NEW tie ups i can arrange the same..
please find you can call and confirm network hospital for SBI gic of Paramount TPA 18002090221.
I saw it is for new assurance co .as TPA
Great effort! Thank you! May God bless you! VU+KG+Fan!
@devbehel172 I am looking for Health Insurance for my in-laws. They are 57 and 53. My employer covers them but total amount in 2L only for them. What are my options ?
Take arogya plus of 3 lakhs for 8927 rs
My suggestion is to run a parallel policy along with employer policy ,some times in employer policy there might be co payment too please check once with employer and also take super top up of required sum insured if you want.
Hi my father is a govt employee he have a govt medical claim something idk much detail. I asked him whether I should buy a medical insurance for you he says I have govt scheme for me and wife, Look for yourself. Please give some thought what will be better??
Also I am working on private mnc where they have tieup with NIC for our medical of 3lac. Should I buy a private one for myself or keep the company provided?
And if I leave the company will I be able to move the insurance to different companies or it works only till I am in the same company.
GMC policy cannot be ported so take a parallel policy like SBI arogya sanjeevani for your self
Of min 3 lakhs Sum insured
Please find my visiting card as so many people thing iam a spammer please check… now kindly please dont call me a spammer if you all wanted me to not to Help people then please tell i will stop posting in this group…..