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 🧵:)

We checked if the plans were different.

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
So we dug deeper :)

We checked, rechecked, spoke to experts and the answer came down to simple market mathematics 🧮

Something you need to understand well.
Say you have a mobile plan with a quota of 3GB of data a day.

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.
Similarly, when you today buy a cover of 25 Lakhs. Since the average claims are say 3 Lakhs today, there are very tiny chances you will use the cover over 10 Lakhs in the short term.

So whatever amount the insurer charges today over 10 Lakhs is a bonus.
But here's what you should know:

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Premiums can be hiked, the product can be withdrawn moving u to an elite product with way higher premium grids.
What you should do❓
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
5. ⚖️ Compare premiums for the adequate cover with higher covers available.
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.
Questions?
Insurance experts can answer them here:

https://t.co/JYfL15hGWt

More from Health

Before we get too far into 2021, I thought I’d write a thread recapping some of the research that came out of my lab in 2020. Most of this work was led by my talented team of graduate students, Kerrianne Morrison, @kmdebrabander, and @DesiRJones.

Back in January, a news story was published about Kerrianne’s study showing improved social interaction outcomes for autistic adults when paired with another autistic partner.

A detailed thread about the study and a link to the paper can be found here (feel free to DM me your email address if you’d like a copy of the full paper for this study or any of our studies):


Another paper published early in 2020 (it appeared a few months earlier online) showed that traditional standalone tasks of social cognition are less predictive of functional and social skills among autistic adults than commonly assumed in autism research.


Next, @kmdebrabander led and published an innovative study about how well autistic and non-autistic adults can predict their own cognitive and social cognitive performance.
Let's talk honestly about "informed consent."
Someone with decades of training gives someone with none advice usually packed into 1-3 mins. Huge amount is based on trust. Huge potential for bias built in. But also there is no obligation to provide real alternative options.


I am classified as 'gifted' (obnoxious and ableist term). I mention because of what I am about to say. You all know that I was an ambulatory wheelchair user previously - could stand - but contractures have ended that. When I pleaded for physio, turned down. But did you know...

I recently was chatting with a doctor I know and explaining what happened and the day the physiatrist told me it was too late and nothing could be done. The doctor asked if I'd like one of her friends/colleagues to give second opinion. I said yes please! So...

She said can you send me MRI and other imaging they did to determine it wasn't possible to address your contractures.

Me: What?
Dr.: They did a MRI first before deciding right?
Me: No
Dr: What did they do??!
Me: Examined me for 2 minutes.
Dr: I am very angry rn. Can't talk.

My point is you don't even know if you are making "informed" decisions because the only source of information you have is the person who has already decided what they think you should do. And may I remind you of a word called 'compliance.'

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