Want to buy a personal Health insurance

06 Oct, 2021 | by Insigia Newsletter

HI, I am a 28 year old male, with no pre-existing diseases, no smoking/drinking. I have an employer insurance up to 5 lakhs. I want to know which health insurance I should buy, and of how much cover?

Health Insurance

1 Answer

Post

07 Oct, 2021

Asad Akbar

Self Employed - Digital Consultant

Hi,

You can do one of the following -

1. Take a base health insurance of 20-25 lacs. As you are young and have no PEDs, you will get health insurance at reasonable price and it would be easier to get into any health insurance per your choice. In case of any claims, use your employer's policy and build a NCB corpus in your personal policy.

2. Take a super top up of 20-25 lacs with deductible of 5 lacs. Choose an Insurer that allows conversion of top up into a base policy after a few years. This will help in case you move to am company that doesn't give health insurance.

You can look at plans from Max Bupa, Aditya Birla, HDFC Ergo Health, Care Health and Manipal Cigna.

Best,

Asad

2 Comments

09 Oct, 2021

Insigia Newsletter

Thank you so much for taking the time to reply. I have applied for Amex promoted ICICI Lombard Insurance for 10 lakhs, with a premium of 17k, and OPD benefit of 10K. Does that look like a reasonable policy? Thanks!

I am very sorry, but I don't understand the 2nd point which you have mentioned. Could you please explain? Thanks!

13 Oct, 2021

Asad Akbar

Self Employed - Digital Consultant

Insurance that comes bundled with another product/service stays with you only as long as you are the member of that group. In this case, Amex. If yoy stop using the Amex credit card for any reason, you will not have coverage under the Amex group policy given by ICICI Lombard. So, don't completely depend on the Amex health insurance.

The 2nd point in my above message talks about a super top up plan that can be converted into a regular base health insurance as a result of removal of the deductible amount.

FYI, deductible is the initial amount/expense which is not payable by health insurance.

Hope it's clear.

Asad

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