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Very Low premium on High Basic Sum Insured of Rs. 1 crore compared to other insurers

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25 May, 2021 by  Prateek Gundecha

I have recently received a premium quote of Rs.25,000 from Manipal Cigna for a family floater health insurance policy of Rs.1 crore (Basic SI) and the age of eldest member in the policy is 33 years and that of spouse is 32 years and daughter is 4 months.

I have a doubt on how the company can provide such a high cover by charging such low premiums which is not matched by any other competitor. Is there a catch in this which I need to be aware of. The policy in question is Manipal Cigna Lifetime Health - India Plan with no Add-ons.

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Health Insurance

1 Answer

25 May, 2021


I checked on the website of Manipal Cigna. The premium for a family floater of 2 Adults + 1 Child is around Rs 25,000 for Sum Insured 1 Cr without add-ons in Lifetime Health India option. The product also looks good. You can give it a serious thought.

Just to assure you, I also compared health insurance products for Sum Insured 1 Cr on Policybazaar. While the Life Time Health India plan of Manipal Cigna looks the best in this category, there are products from Max Bupa, Aditya Birla Health & Raheja QBE which cost lesser than Manipal Cigna for SI 1 Cr. Do check them out on Policybazaar.

My pecking order would be Manipal Cigna > Raheja QBE > Max Bupa > ABHI (strictly for the products of Sum Insured 1 Cr; no reflection on the quality of Insurer).

Features that I found better in Manipal Cigna compared to the other 3 are -

  • Waiting period of only 2 years for pre-existing diseases
  • No restriction on the type of room allowed during hospitalization
  • Unlimited restoration of Sum Insured for unrelated illnesses in case the base cover gets exhausted

Hope this helps in your product search. Best Wishes,

Asad Akbar

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25 May, 2021
Prateek Gundecha
Thanks for your reply and explanation. As per the policy wordings - Any room type other than suite room is covered for a policy with SI < 3 cr. For a policy with SI > 3 cr there is no limit on room category. One last query from my end is - How is the Manipal Cigna's hospital network coverage compared to other insurers as it is relatively new player in the market. Have you come across any adverse reviews about the company with respect to claims processing, cashless settlement, customer support, etc.
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26 May, 2021
Cigna has a network strength of about 6500 hospitals. The likes of Star Health lead on this front with a provider network of more than 9000. What you should worry about is their hospital tie ups in your city and nearby areas where you take treatment. That would give you the right context of how strong they are for your family. Customer service wise, I have heard both good and bad reviews about them. Personally I found them reasonable.
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