KEEPING INSURANCE HUMAN
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Continuing Parents Health Cover

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23 Nov, 2021 by  Abhay

My parents (both above 65 years) have mediclaim policy of Rs. 1.5 lacs each from National Insurance.

No medical or health issues for them till now.

Major claim till date has only been of eye surgery and others been minor 2-3 claims only.

Annual premium is 31,000/- now.

Is it worth to continue with such a small policy with high premium or rather invest it for them somewhere.

P.S.: I am having enough savings to cover their medical expenditure of 10 lacs+ anytime.

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Health Insurance
Parents-Health-Insurance
Opinion

1 Answer

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24 Nov, 2021
Rohit Dhingra

Dear Abhay,


Investing & Health Insurance are two different things altogether. One tries to multiply your wealth in long term the other protects the wealth you have garnered.


I am assuming that this fund is be liquid enough for you to withdraw any time.


Is it that this ₹10Lacs+ has been set aside only for your parents medical purpose or can it be utilised for another financial goal?



Regards

Rohit Dhingra

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24 Nov, 2021
Abhay
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24 Nov, 2021
Rohit Dhingra
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