Compare health insurance plans in India –
SK Bhatia from Nagpur asks: My question is regarding mediclaim insurance. I am 56 years old, wife is 54 and son is 24 years old. We have a health plan from New India Assurance. I am covered for 3 lakhs and wife and son have a cover of 1.75 laksh each. I have been paying for this since I was 40 years old. The premium then was Rs. 5,000 and now the premium being charged is Rs. 19,200. This is too high a premium for me. Can you suggest any alternate plan for me?
Check review of plans from New India Assurance –
Swati from Your Money asks: Since how long do you have this policy?
Mr Bhatia: For 16 years
Swati: This has been a very long relationship and the premium has increased considerably. What should he do?
Manoj from MyInsuranceClub.com : Did you have any claim in this plan in the last few years?
Mr Bhatia: No. So far I have made only one claim at the age of 45 for my wife’s hospitalisation.
Manoj: Yes then, he should be having a lot of discounts. This premium does seem high. But keep in mind that you are now 56 years and plans wont come easily once you are 60. So this relationship counts a lot. If you can afford, keep this and buy another plan which you can run fot 3 to 4 years post which all diseases etc would be covered.
Manoj: I know it is difficult. But if he wants to move out he can get plans in the range of Rs. 12,000 from HDFC Ergo or Star health insurance. If you add your family it will come to Rs. 16,000. There will not be a great amount of reduction at this age. If possible, do continue with this plan.
View from from HDFC Ergo –
View from from Star Health Insurance –
Swati: We would not recommend shifting plans at this age.