COMMUNITY FORUM: CREDIBLE INDUSTRY EXPERTS ANSWER YOUR INSURANCE QUERIES

Dear Team,

I am having company group health insurance for parents for Rs 8 Lakhs from my office. I am moving from my current organization and we have an option to convert this group health insurance to individual health insurance. As this policy has been alive for last more than four years, there is no waiting period any existing health problems to cover. I will have to pay Rs 70,412 for this Rs 8 Lakhs coverage or Rs 56,617 for Rs 5 Lakhs coverage . The policy will be Floater Mediclaim from New India Assurance.

Is it good to proceed or do you suggest any alternatives? Please help.

Thank You,

Pradeep

Hi Experts,

I had applied for Max Bupa Reassure for my parents having the below existing conditions:

Father - Age 63

1- Diabetes (3 years) under control with tablets

2- Angioplasty completed after regular health checkup (2018) Tablet: Ecosprin

Mother - Age: 61

1- Brain Stroke (2012) Tablet: Ecosprin

The application was rejected due to the existing diseases. Please advise what are my options?

Can I complain to IRDA?

Is there any other insurance company or policy which is favourable for senior citizens, preferably with less or no co pay?

Thank you,

Dhanesh

Dear team, request to suggest good health insurance policy for my mother aged 59. Takes regualr medicine for diabetes and hypertension. I am looking for 5 lakes cover.

I came across Star Health insurance with PED rider. Please advise if it's good.

My dad (67 years age) is diabetic (not on insulin) and has hypertension. I am looking for a super top up plan for him with a deductible of 10L and a policy amount of 10L.

Do you know any company that can provide insurance in this case?.

I have two question

First one - I know most of the insurer does not cover congenital disease some covers internal congenital disease and does not cover external congenital some cover both internal and external

so If my insurer does not cover congenital disease does it mean that it will not cover as pre-existing but if I already have insurance before diagnosis I will be covered or it does not cover at all no matter when I was diagnosed, no matter whether I have insurance at that time ??

the second one- Do you think it is good to buy parents health insurance since their age(no pre-existing disease ) is around 60 premium will continue to rise and I have listened to your webinars as their age increases the premium will be skyrocketed I have already started to invest in SIP for future premium and medical emergency fund but it will take time to built and also I have here some analogy that it is better to eat one bread less than possibility not having the roof

so do you think it is best to buy health insurance for parents from a personal finance perspective ??

Hi Team,

I purchased health insurance for my parents in May. We discovered my father is a slight diabetic in July. Also, now he's gotten it under control and due to age it may come again. Should I inform my health insurer now? What steps should I follow while renewing the policy next year?

Thanks!!

My mother's heart valve replacement was done in July 2002. In addition to that she has sugar. Currently we have taken insurance from PSU insurance company and want to increase her cover from about 4L base cover (plus accumulated bonus which is of no use as room rent is linked to base sum assured) but we were unable to increase base cover as well as other insurance company (tried with 1-2) is not giving cover. Can you help us? What will be premium (she is 65)?

My mother is a heart patient and is taking her prescribed medicines regularly. She has a 5 lakh base policy from national insurance and I'm looking for a top up that can supplement her cover for any future claims. Last angioplasty was in 2016(RCA) and before that it was in 2014(LCA), post this there has been no heart related ailments. She had contracted COVID-19 in March 2021 and was administered with Remdesivir and I have got a check up done post that by a cardiologist and he says that she's stable.

Hi,  I am 21 years old and I was looking for a family health insurance for myself and my parents(father - 52 and mother - 51). My mother had early stage cancer around 6 years ago for which she underwent surgery and chemotherapy. She's completely cured of it now for five years. In 2019 unfortunately she had a mild stroke, from which she has successfully recovered now with no ailments.  Last year I checked a few insurance providers and narrowed down on HDFC Ergo (Appollo Munich back then). They had a provision with which one could get insurance even with the conditions that my mother had. An agent (who was not from my city) got in touch with me and I explained everything to him. He told me it's not a problem and we can still get insurance given we send him all the documents showing my mother's history. He assured us that these will be treated as pre existing conditions and after a waiting period of 3 years we'll be able to claim for every ailments.  A few months ago my mother had a small procedure unrelated to any of the aforementioned issues. We initiated a claim and after a month we got a mail telling us that because we hadn't revealed information about the stroke and the cancer, the policy itself has been cancelled and the claim rejected.  Now coming to my query, is there anything we can do now about this? We were also clearly part of the fault for trusting the agent blindly and making the payment.  Also is there any other insurance provider who can provide someone with a history like my mother health insurance? or should I just steer clear from all of them and just take a policy that covers me and my father?

Recently I have purchased Star Health Comprehensive Health policy for my parents with a cover of 5 lakh.... Premium of 23k pa.

Both my parents are diabetic and.... I could not get any other policy because my mother is on insulin..... They both are 49 & 47.

Please suggest me is this a good policy or should I port to some other policies... If there are any...