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Mediclaim : Reliance General Insurance

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04 Mar, 2022 by  Jignesh Pandya

Hello, I have taken a floater mediclaim policy [ 2+2] for Rs.3,00,000/- of Reliance GI which is being offered through Bank of india.

This year the premium is almost doubled.

Like to know the other alternative .

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Health Insurance

3 Answer

04 Mar, 2022
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The Policies offered by banks are basically Group Health Policies. Initially they are sold at very low price. But as losses comes the premium rose 3-4 folds.

Same issue happens with BOB which is selling National Insurance Medical Policies with a very low premium of 6515 Rs for 2A+2 Child elder being age 65.

My suggestion is that don't go for this policies.

Because issue with them

(1) After loss experience premium will rise 3-4 Folds

(2) You cannot port this policy to some other company and thus you have to start from Fresh.

(3) Look For Individual plans which offer family floater cover.

(4) Don't compare premium-wise rather look at the features and service part.

(5) Share your details on beshak Health Truematch and you will get the proper advise

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04 Mar, 2022
CEO, Insurance Samadhan

Dear Jignesh

Premium has gone up with all health insurance companies. Your premium would have doubled because of two reasons

1. Escalation with IRDA approval

2. Change in your age slab eg rates increase when you turn 35 , 45 or 60

My recommendations

1. Continue with you existing insurance by paying higher premium

2. Buy a super Top up with 5 lakh deductible from company of your choice..

Best wishes

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05 Mar, 2022
We breathe insurance :)

Hello Jignesh,

Please do check this article on Group Insurance from Banks and apps: Should you buy group insurance sold by banks or apps? Group Insurance Vs Retail Insurance (

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