Mediclaim or Critical Illness?

[ritzman]

I am working with MNC bank in Delhi. looking for Mediclaim policy for my family. I have few queries -

(1) I would like to know which is the best Mediclaim policy for my parents (Father - 62 years & Mother - 52 years old)?
(2) Which is better option simple Mediclaim or Critical Illness Insurance ?
(3) Does simple Mediclaim support Critical Illnesses also?
(4) Whether I can claim coverage from two different companies at the same time ?

I would like to insure them for upto 5 lacks if there is any family floater type policy or individualy for 2 to 3 lacks.

Please advise.

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[Expert]

Answer to two of your queries -

(1) I would like to know which is the best Mediclaim policy for my parents (Father - 62 years & Mother - 52 years old)?

You can take Individual mediclaim policy for 52 years old / and special senior citizen for 62 years, as no pre medical test is required for the senior citizen policy.

(2) Which is better option simple Mediclaim or Critical Illness Insurance ?

It is always better to take health insurance or mediclaim/ with critical ill ness rider. few companies offer them

[MTG]

(3) Does simple Mediclaim support Critical Illnesses also?
(4) Whether I can claim coverage from two different companies at the same time ?

3. Simple mediclaim is taking care of critical illness also.
4. There is no necessity/ no use to take two policy from two companies. it is unnecessary. you can take top up policy instead, if you want to take from two companies.

[MTG]

I would like to insure them for upto 5 lacks if there is any family floater type policy or individualy for 2 to 3 lacks.

Normally family floater health insurance policy is available upto 60 years/ few companies offer upto 65 years with high premium. You have to analyse the premium rates and see which is cheaper to take floater or take individually. depending upon the company/plan/etc. Use online sites like policybazaar.com or insurancemall.com etc