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Premiums can be hiked, the product can be withdrawn moving u to an elite product with way higher premium grids.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
this simple, counter narrative fact keeps cropping up all over the world.
hospital and ICU utilization has been and remains low this year.
it's terribly curious that so few of these monitoring tools provide historical baselines.
getting them is like pulling teeth.
we might think of this as an oversight until you see stuff like this:
this woman was arrested for filming and sharing the fact that their are empty hospitals in the UK.
that's full blown soviet. what possible honest purpose does that
this is the action of a police state and a propaganda ministry, not a well intentioned government and a public heath agency.
"we cannot let people see the truth for fear they might base their actions on real facts" is not much of a mantra for just governance.
90% full ICU sounds scary until you realize that 90-100% full is normal in flu season.
staffed ICU beds are expensive to leave empty. it's like flying with 15% of the plane empty. hospitals don't do that.
and all US hospitals are mandated to be able to flex to 120% ICU.
the US is currently at historically low ICU utilization for this time of year.
61% is "you're all going to go out of business" territory as is 66% full hospital use.
can you blame them for mining CARES act money? they'll die without it.
hospital and ICU utilization has been and remains low this year.
it's terribly curious that so few of these monitoring tools provide historical baselines.
getting them is like pulling teeth.
It took a Freedom of Information request but @Covid19DataUK acquired 2017-2019 averages for England hospitalizations.
— Yinon Weiss (@yinonw) December 31, 2020
2020 had 18% fewer hospitalizations than prior years.
All around the world, using hospital data without context of prior years is just a fear generating lie. pic.twitter.com/DJDpqhIQuw
we might think of this as an oversight until you see stuff like this:
this woman was arrested for filming and sharing the fact that their are empty hospitals in the UK.
that's full blown soviet. what possible honest purpose does that
this is the action of a police state and a propaganda ministry, not a well intentioned government and a public heath agency.
"we cannot let people see the truth for fear they might base their actions on real facts" is not much of a mantra for just governance.
90% full ICU sounds scary until you realize that 90-100% full is normal in flu season.
staffed ICU beds are expensive to leave empty. it's like flying with 15% of the plane empty. hospitals don't do that.
and all US hospitals are mandated to be able to flex to 120% ICU.
the US is currently at historically low ICU utilization for this time of year.
61% is "you're all going to go out of business" territory as is 66% full hospital use.
can you blame them for mining CARES act money? they'll die without it.
