I want to take a medical insurance for me as well as my mother and father, Pre existing condition of them: YES
Which insurance is the best for them specifically?
You have to take 2 insurance. 1 solely for you and future/present wife and kids. 1 for parents. You will save a lot this way. For yourself research about HDFC Super Secure, it will give you 3x cover from day 1 and 4X cover 3rd year onwards, i.e. 25 lakh plan will be 75 lakhs from day 1 and 1 cr from 3 years. You can also take voluntary deduction to minimise cost, and that voluntary deduction can be paid using company insurance. For parents, read plans for all the insurance companies and then decide. Make sure that your SI is 1 Cr and it covers all illnesses, no exclusions. HDFC, Care are some good companies out there. You can also use ditto for help.
Any specific things to look for in plan?
I heard many ifs and buts in cheap plans.
I spent entire 2023 on this topic, from February to December. Have read all the insurances policy wordings cover to cover. Consulted with ditto, beshak, all other that one can possibly think of in India.
Insurance as a sector in India, is completely run on scams and schemes. The baselines are -
HDFC Ergo ICICI Lombard Any of these 2 can be trusted. Just look at their balance sheets they're too hard to fail!
HDFC Ergo
ICICI Lombard health advantedge
