What we found is that apart from the room eligibility there is no other significant difference between the plans.
This may have called for a lower “per lakh” premium, but it does not justify a discount of 37% for a 400% higher cover
You will find this interesting 🤯
Health Insurance premiums for a plan are as follows:
5 Lakh cover = Rs. 13410/-
25 Lakh cover = Rs. 24759/-
1 Crore cover = Rs. 18003/-
Wut? Yes. How? 🤔
Thread time 🧵:)
What we found is that apart from the room eligibility there is no other significant difference between the plans.
This may have called for a lower “per lakh” premium, but it does not justify a discount of 37% for a 400% higher cover
We checked, rechecked, spoke to experts and the answer came down to simple market mathematics 🧮
Something you need to understand well.
The average usage is say 2 GB a day.
Now if you apply for an upgrade to 10GB a day - the telco knowing this will rarely be utilised, can upgrade the plan at an extremely low cost, and not at the per GB rate.
So whatever amount the insurer charges today over 10 Lakhs is a bonus.
Once claims increase, every insurer can hike premium rates post approval from the regulator.
Premiums can be hiked, the product can be withdrawn moving u to an elite product with way higher premium grids.
1. Even if premiums will be hiked in the long run, you still need a high cover.
2. Ensure u buy adequate cover for your old age today. If you are 35, you will need 26L at 70 (5% inflation)
3. Do not postpone.
4. Upgrades are difficult if you have an illness
6. If you find the difference in premium negligible or lower (like in the first tweet) take the higher cover.
7. Remember, it’s super easy to downgrade ⤵️ cover, if premiums become unaffordable.
More from Health
You gotta think about this one carefully!
Imagine you go to the doctor and get tested for a rare disease (only 1 in 10,000 people get it.)
The test is 99% effective in detecting both sick and healthy people.
Your test comes back positive.
Are you really sick? Explain below 👇
The most complete answer from every reply so far is from Dr. Lena. Thanks for taking the time and going through
You can get the answer using Bayes' theorem, but let's try to come up with it in a different —maybe more intuitive— way.
👇
Here is what we know:
- Out of 10,000 people, 1 is sick
- Out of 100 sick people, 99 test positive
- Out of 100 healthy people, 99 test negative
Assuming 1 million people take the test (including you):
- 100 of them are sick
- 999,900 of them are healthy
👇
Let's now test both groups, starting with the 100 people sick:
▫️ 99 of them will be diagnosed (correctly) as sick (99%)
▫️ 1 of them is going to be diagnosed (incorrectly) as healthy (1%)
👇
Imagine you go to the doctor and get tested for a rare disease (only 1 in 10,000 people get it.)
The test is 99% effective in detecting both sick and healthy people.
Your test comes back positive.
Are you really sick? Explain below 👇
The most complete answer from every reply so far is from Dr. Lena. Thanks for taking the time and going through
Really doesn\u2019t fit well in a tweet. pic.twitter.com/xN0pAyniFS
— Dr. Lena Sugar \U0001f3f3\ufe0f\u200d\U0001f308\U0001f1ea\U0001f1fa\U0001f1ef\U0001f1f5 (@_jvs) February 18, 2021
You can get the answer using Bayes' theorem, but let's try to come up with it in a different —maybe more intuitive— way.
👇
Here is what we know:
- Out of 10,000 people, 1 is sick
- Out of 100 sick people, 99 test positive
- Out of 100 healthy people, 99 test negative
Assuming 1 million people take the test (including you):
- 100 of them are sick
- 999,900 of them are healthy
👇
Let's now test both groups, starting with the 100 people sick:
▫️ 99 of them will be diagnosed (correctly) as sick (99%)
▫️ 1 of them is going to be diagnosed (incorrectly) as healthy (1%)
👇
You May Also Like
There are many strategies in market 📉and it's possible to get monthly 4% return consistently if you master 💪in one strategy .
One of those strategies which I like is Iron Fly✈️
Few important points on Iron fly stategy
This is fixed loss🔴 defined stategy ,so you are aware of your losses . You know your risk ⚠️and breakeven points to exit the positions.
Risk is defined , so at psychological🧠 level you are at peace🙋♀️
How to implement
1. Should be done on Tuesday or Wednesday for next week expiry after 1-2 pm
2. Take view of the market ,looking at daily chart
3. Then do weekly iron fly.
4. No need to hold this till expiry day .
5.Exit it one day before expiry or when you see more than 2% within the week.
5. High vix is preferred for iron fly
6. Can be executed with less capital of 3-5 lakhs .
https://t.co/MYDgWkjYo8 have R:2R so over all it should be good.
8. If you are able to get 6% return monthly ,it means close to 100% return on your capital per annum.
One of those strategies which I like is Iron Fly✈️
Few important points on Iron fly stategy
This is fixed loss🔴 defined stategy ,so you are aware of your losses . You know your risk ⚠️and breakeven points to exit the positions.
Risk is defined , so at psychological🧠 level you are at peace🙋♀️
How to implement
1. Should be done on Tuesday or Wednesday for next week expiry after 1-2 pm
2. Take view of the market ,looking at daily chart
3. Then do weekly iron fly.
4. No need to hold this till expiry day .
5.Exit it one day before expiry or when you see more than 2% within the week.
5. High vix is preferred for iron fly
6. Can be executed with less capital of 3-5 lakhs .
https://t.co/MYDgWkjYo8 have R:2R so over all it should be good.
8. If you are able to get 6% return monthly ,it means close to 100% return on your capital per annum.
