Which medical insurance?
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?
SteveRogers
Stealth
7 months ago
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 -
1. Even if they are paying you for your claim, still they are making money from you some way or the other
2. You can never ever relax with peace of mind even if you buy the best insurance in the world as they can any day reject the clain during crisis
3. If parents are 60+ and have pre existing diseases, chances are extremely less that you are gonna get any really good policies (lombard health advantedge/tata medicar premiere/hdfc optima secure/star health assure etc).
4. Real plans which are good (the ones mentioned above), are sure expensive. Especially optima secure. Hdfc as a company is always super expensive in every services though. This plan sucks money year on year as it hikes the premium on yearly basis by 3-5%. If you can afford to shell out 1 lakh and 3% hikes YoY, well and good, go ahead!
5. The best with this risk mitigation, I could think of is start a simple SIP, for entire family emergency as well as medical grounds.
6. I haven't been able to buy parents' insurance because the criterias I had, were not met by the majority of the insurances and the ones that met, rejected my proposal for mom's preexisting diseases.
I am yet to buy mine also, but will buy by this month only hopefully, and I will be buying Lombard health advantedge
7. Also, I am starting the monthly SIP for parets health risks
HDFC Ergo
ICICI Lombard
Any of these 2 can be trusted. Just look at their balance sheets they're too hard to fail!
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