back arrow Back

Need suggestions on health insurance

reply Share
14 Jun, 2021 by  NN

Hi,


I am looking for coverage for following:


1) Self - F - 36 2) Father: 67 (retired from bhel) 3) Mother - 62 - diabetic & bp


I am moving to another company. The existing company provided insurance provider (New India Assurance) has quoted approx 55k to port us into their floater mediclaim policy having 5L as SI. The 48 months waiting period has been completed for all of us. I will also get coverage of atleast 3L in the new company. My parents are covered by bhel as well (though their process is slow). Please suggest which of the below options should i go for:

1) existing insurer for entire family

2) existing insurer for self + topup 

3) other insurance provider for entire family

4) other insurer provider for self + topup

5) any other options

like like
0
Health Insurance

1 Answer

Post
14 Jun, 2021

I feel you should do the following -


1) Take New India Assurance family floater for your parents because it will give your parents a health cover from day 1 (you have mentioned that you have served the 48 month waiting period so I assume they are waiving off all waiting periods in the family floater policy). Drop yourself from this policy if your new employer is giving you a good 3 L cover that gives insurance from day 1.


2) Take a super top-up for yourself with Sum Insured around 20 to 25 lacs & deductible 3 lacs. Preferably take it from an Insurer that allows conversion of super top-up into a base health insurance by removal of deductible in future.


3) Decide on a super top-up for your parents depending on their total coverage from BHEL & New India Assurance.


4) Read this point in conjunction with point 1. Next year, after due research, take a call on your parents' New India Assurance policy. If you find a better option for your parents (benefit & price wise), apply for porting. Doing so under IRDAI's porting guidelines will allow them to carry forward the waiting period waivers into the new policy. If you do so straight away this year, you will lose the 48 month waiting period credit that you have earned.


Best Wishes,


Asad Akbar


like like
0
icon-comment 1 Comments
icon-reply Reply
14 Jun, 2021
NN
like like
0
icon-reply Reply
Discover the best tips for insurance every week!

Beshak is not regulated by the Insurance Regulatory and Development Authority of India (IRDAI) and does not have any alliance or association with any Insurance business.
© Copyright 2021 Beshak Solutions Pvt. Ltd. All Rights Reserved.

Disclaimer: The content on the website is purely for information purposes for the public at large, and does not constitute personal financial advice for a specific individual reader.
If you are reading this, it means you love reading the fine print. Why not get paid for what you love doing - Join us by writing to info@beshak.org now 🙂