I’m a wholesome 31-year-old bachelor, with dependent dad and mom. I’ve a company medical insurance coverage for ₹3 lakh. Do I’ve to purchase one other well being coverage? And, if that’s the case, ought to I purchase a household floater plan or a person well being coverage?
– Name withheld on request
The proper stage of sum assured relies upon largely on the place you reside and are more likely to get hospitalized. The most costly are the ‘luxury hospitals’ in metros, and the prices improve as you go to smaller cities. Even throughout the similar hospital, the price of a surgical procedure may fluctuate by 30 to 40% relying on the kind of room chosen.
As a rule of thumb, one can purchase protection that’s at the very least equal to their annual revenue, or a minimal sum assured of ₹10 lakh. This must be additional revised upwards in case the person has an hostile household medical historical past.
Do understand that the sum assured must be excessive sufficient to consider medical inflation over time.
Typically, household floaters are most cost-effective. However, in your case since you are an grownup and there’s more likely to be at the very least a 20-year age distinction along with your dad and mom, you should purchase an unbiased coverage for your self and take into account insuring your dad and mom in a household floater.
It is vital to have your personal medical insurance even if you’re lined in a company plan as a result of it’s possible you’ll change jobs or your present firm can modify their medical insurance advantages over time.
I’m 58 years of age and will probably be retiring within the subsequent couple of years. I used to be to this point lined underneath my company insurance coverage coverage. Please counsel a very good medical insurance plan for me and my 54-year-old spouse. Do word that my spouse is a coronary heart affected person and I’m a diabetic. Should we go for senior citizen-specific plan or a daily well being coverage? Is there any distinction in such plans? What quantity of protection ought to we have a look at?
—Name withheld on request
Senior citizen plans are designed to cater to folks inside a better age group and with some pre-existing ailments. The common plans usually have stricter coverage issuance standards. Most senior citizen plans supply protection for pre-existing situations sooner than the common plans. However, such plans carry increased sub-limits. The sum assured out there underneath senior citizen plans are additionally decrease than the common plans.
You ought to first apply for a daily plan. In case there’s any problem within the coverage issuance, then it might make sense to use for the senior citizen plan.
You ought to have a protection of at the very least ₹10 lakh.
Abhishek Bondia is principal officer and managing director, SecureNow.in.
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