1/ Get a health cover of ₹10L and super top-up of ₹90L
Super top-up plans are generally less expensive
It offers financial relaxation when hospital bill crosses your base cover
But are such plans available at <10k pa for a 25 yo?🤔
Yes!🤩 Read to know more about riders👇
2/ How should I choose my insurance company?
Go to IRDAI's website and check for their Annual Report
See which all insurers have:
1. Claim Settlement Ratio of 90-95%+ AND
2. Incurred Claims Ratio of >70-75%
Choose any one of them!
3/ Room Rent Limit
This is a very important limit
If room rent limits get triggered,
you'll have to bear other expenses on pro-rated basis
e.g., Room Rent limit 3k, amount incurred 5k
Then you will have to bear other expenses also to the tune of 40% [(5k-3k)/5k]
4/ Co-Pay Limits
Co-pay is the share payable by the insured and insurer
Make sure you get 100% paid by the insurer
GOLD HACK: Unless, your parents' premium is too high, you can get 20% co-pay option and reduce it
5/ But my company has Health Insurance for me
I've seen how corporate plans are like
You will end up paying a good chunk from your pocket
Moreover, no one will take care of you / your family once you start-up
Or fall sick between joining one company and the other
6/ Why Health Insurance at all?
Good healthcare in unfortunately private in India, just like US
There is a famous saying in the US,
"You will have to sell yourself to get treated in America."
Healthcare inflation in India is 14% p.a.
GET ONE TODAY!!!
7/ Restoration Benefit
Say, you got ill once and bill was INR 8L
You get ill again, and the bill is 5L
Base cover was 10L and you don't have super-top up
Restoration benefit will save you here. It replenishes even if you exhaust it in the same year
8/ Buy it for 1 year or 3 years?
Because Medical inflation in India is increasing at 14% p.a.,
so will the premiums.
Lock lower premiums today, if your pocket allows!
----
More on Health Insurance for some other day
More exciting Personal Finance threads coming soon
Join our Personal Finance, Fundamental Analysis, Basics of Stock Markets, Mutual Funds club
https://t.co/7akFwLeC88
Subscribe to our free newsletter today
https://t.co/0My9czt9Pf
Tell us more about what type of content and products you want from us?👇