Things to keep in mind while buying health insurance

Money 9 Helpline has emphasized the importance of health insurance time and again. After the severe second wave of covid-19 infections, the need for having a health insurance plan has become even more important.

It is equally crucial to also decide on a suitable health insurance plan which can provide you maximum benefit.

Money9 Helpline’s special discussion with ProMore Fintech’s Founder, Nisha Sanghavi will help you chose the right health insurance plan.

Here are few queries:

Siboli Banerjee, Kolkata: My aunt is 71 years old and suffers from neurological problems, poor vision, and high blood pressure. I want to purchase a health insurance policy for her from a private company. What factors should I consider while finalizing insurance?

Sanghavi: These days insurance companies provide options, you can take full coverage. For your aunt, who is suffering from three illnesses, we have senior citizens plans like Start health’s red carper, New India’s senior citizen plan. Max Bupa also has a senior citizen plan. In a senior citizen health insurance plan, if the entry is after the age of 65 years you will be charged a co-payment. There are some insurers that give an option to waive off on co-payment. There are first pre-medicals of the person, especially if they are to be considered for no co-payment, though the probability is less that an insurer will not charge co-payments. But star health will definitely give cover.

Abhishek Gupta: Can you please suggest the best health insurance plan in Max Bupa? what should be my minimum cover? I am a salaried employee.

Sanghavi: Max Bupa has a ‘Reassure plan’ which is quite affordable as compared to other policies. You have to decide what are your prerequisites if the coverage is sufficient for you or not. If you are living in a metro city and are single then Rs 10 lakh cover is fine, if you have a family then Rs 20 lakh is advisable.

Sukanya Gupta, Kolkata: My family is covered under a floater Medi-claim policy of Rs 4 lakh. Is it possible to increase the cover of the policy or should I buy an additional policy? Also, is it necessary to buy a corona-specific policy for my family?

Sanghavi: To increase a group policy given by your employer has a lesser probability. It is important that you have a standalone policy.