Things to consider before buying medical insurance?

[msgforsunil]

Hi All,

Please me know the things that I need to consider before I buy medical insurance. Note, I am 34 yrs aged with 2 kids of age 1 and 8yrs. My mom is aged is 56 yrs.

And additionally, should I buy seperate medical insurance for my mother?

Looking forward for loads of inputs. I find it really difficult in finalising one. :-(

Thanks

Sunil Kumar

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[GenNext]

As your mother is 56 years old, I would recommend buying separate policy for her with minimum sum insured of Rs. 500,000 (due to high medical costs now a days). For yourself and family, you can buy family floater - health insurance.

[GenNext]

Read here in detail about Family floater policy - Link

[msgforsunil]

Can you please recommend policy both for family floater and for my mother? If, yes, please let me know, as how this is better than the other ones?

Thank you in advance!
Sunil Kumar

[ReVoLuTiOn]

For your mother you can choose from following list - Health Insurance Plans for Senior Citizens
If she had per-existing disease, then choose Star Unique Health Insurance Policy

[ReVoLuTiOn]

Yourself you choose plan which has life long renewable option, good sum insured option and Good Claim Settlement Record of the company (Claim Settlement Ratio).
You can check - Apollo Munich, Star Health and Max Bupa (Max Bupa is little bit costly but offer good sum insured)
Good Claim Settlement Record (Claim Settlement Ratio) => Check IRDA India website

[Matrix]

Check following points before buying health cover -
1. Co-payment
2. Coverage of pre and post-hospitalization expenses
3. Renewal age and other conditions
4. Watch out of sub-limits
5. Watch out for caps on treatments
6. Tax benefit and loyalty bonus