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22 Mar, 2021 by  Vssk.satyam@gmail.com

Was looking to buy mediclaim for my parents. One of them have a preexisting condition. Was looking at quotes from various insurers

1. Is Religare a good company to buy mediclaim from? Have heard news of issues in religare group companies. So is it safe, even though they have changed the name. But is it safe to buy from them? Will my claims be honoured?


2. Where to buy it from? If I buy online, during time of claim, will I face any issues in comparison to buying from an agent? Online policies comes bit cheaper than buying from agent. So during claims settlement, what would be better, a policy bought online or via agent


3. How do I chose insurance company. Like i said how do i know which company is good during claims experience. Say if I pay high premium for hdfc ergo, is it worth it? Or should i buy cheaper from religare, iffco Tokio etc types.

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Parents-Health-Insurance

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24 Mar, 2021

Hello Mr. Satyam,


Is Religare a good company to buy mediclaim from? Have heard news of issues in religare group companies. So is it safe, even though they have changed the name. But is it safe to buy from them? Will my claims be honoured?

While we don't currently recommend or rate Health insurance companies, in my personal view, Religare (Care) Insurance is a legitimate health insurance company licensed by IRDAI. The team is experienced, and they overall have a very good track record with respect to customer experience and claim settlement. You have no reason to worry.

Where to buy it from? If I buy online, during time of claim, will I face any issues in comparison to buying from an agent? Online policies comes bit cheaper than buying from agent. So during claims settlement, what would be better, a policy bought online or via agent

In our view, especially for health insurance, buying from a local agent who has a good service track record is better than buying online. This agent can handhold you during claims, paperwork, general running around - as compared to following up on toll-free numbers with faceless people. Of course, service may come for a price.

How do I chose insurance company. Like i said how do i know which company is good during claims experience. Say if I pay high premium for hdfc ergo, is it worth it? Or should i buy cheaper from religare, iffco Tokio etc types.

If you are able to find a good local insurance agent, who takes ownership of the claims experience - then you can go with his recommendation. You must first look at the benefits on offer and are they matching your expectations. A high price does not guarantee anything including better service. Currently, there is no objective way to compare service or claims experience for health insurance, similar to what we have built for Term Insurance - Beshak Term Insurance Rating


Regards,

Mahavir

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