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Health Insurance

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For the sake of simplicity and to avoid confusion with technical jargon, the terms Health Insurance and Medical Insurance are used interchangeably in this website.

Health Insurance Checklist

Essential points to check before you take a health insurance policy.

  1. Sum Insured Limits
  2. Individual / Floater Policies
  3. Extent of coverage
  4. Waiting period for pre-existing disease exclusions
  5. Any internal sub limits like room rent restrictions, sub limits on specific procedures
  6. Deductibles / Co-payments
  7. List of Exclusions
  8. In house claims servicing or use of TPA and service levels/market feed back
  9. Reputation of the company in the market and among providers.

Is your present health status important for getting medical insurance?

Definitely yes.

In fact, the under writers take this as a very important point in determining your premium.

We already know that if you smoke or chew tobacco or if your drink often, you are likely not be issued the policy or the premium.

Your BMI too is also an important factor.

A health person is likely to get a good deal in getting an insurance policy at attractive rates.

Will my insurer provide my pre-policy medical report?

In most cases, the insurer provides the medical report after the issuance of policy.

Very few of them do offer the medical report prior to the issuance of the policy. Bajaj Allianz is one of them.

SBI Group Health Insurance Policy

State Bank of India Savings Bank Account holders can get a Health Insurance cover issued by SBI General at a very competitive pricing on the Premia.

No pre-policy medical examination (18 years to 65 years for adults and 3 months to 18 years for children) with no medical history.

Waiting period of 1 year for specified diseases.

Benefit of both Cashless and Reimbursement basis for claim settlement.

24X7 customer support

The product is actually given by SBI General

Just 1 year waiting period for specified diseases (Pre-existing diseases covered after 4 years)

Guaranteed renewal

Multiple Coverage Options – Individual & Family Floater options for Sum Insured

The premium paid is exempt from Income Tax under Sec 80 D of Income Tax Act (Tax benefits are subject to change in tax laws)

Coverage of Pre and Post Hospitalisation Expenses – 30 days before and 60 days after the hospitalisation

Cashless treatment at over 3,000 Network hospitals

Wide Coverage – From Rs.100,000 up to Rs.500,000

Baroda Health

If you are healthy and consider you will rarely use it and yet want a cheaper health insurance, go for a group mediclaim policy offered by banks.

My preference will be for the "Baroda Health" (Mediclaim Insurance Policy) offered Bank’s Account holders.

You will have to open a savings account and then go for the policy. U can make the premium payment by chq.

Details about the policy are available at https://www.bankofbaroda.com/baroda-health.htm

Sample proposal form is at https://www.bankofbaroda.com/writereaddata/images/pdf/baroda-health-policy-proposal-form.pdf

Premium: http://www.bankofbaroda.com/download/BarodaHealthNewPremium01062016.pdf

List of major exclusions is at https://www.bankofbaroda.com/baroda-health.htm#majorexclusions

The good thing with Baroda Health is that they cover for medicines and consumables like cotton, bandages etc. that even full-fledged insurance policies do not cover.

So the Baroda Health policy can work as an add-on to your existing health insurance policy. Also useful for those who are already covered by the employer and who fear of lack of insurance when resigning from the employment.

PNB Oriental Royal Mediclaim Insurance Policy

Like Bank of Baroda, Punjab National Bank account holders can also go for a health insurance policy.

The policy is called PNB Oriental Royal Mediclaim Insurance Policy

More details at https://orientalinsurance.org.in/web/guest/pnb-oriental-royal-mediclaim-insurance-policy

Canara Bank - Apollo Munich Health Insurance

Bank has entered into a Corporate Agency Tie-up with Apollo Munich Health Insurance Co. for selling their Health Insurance products across all Canara Bank Branches.

Easy health Insurance plan renewal rate card.

More details at https://canarabank.com/english/bank-services/personal-banking/insurance-business/health-insurance/

For rate card, read https://canarabank.com/media/7236/canara-ratecard.pdf

Health insurance for the family

I already having a star health policy, premium 6100, coverage 3 lak, members age is 29, 24,1...Is it worth? Should I continue in this policy?

I think worth it since u have taken at a young age. The no-claims and your good history will add up.

Certain typical operations like tonsillitis for kids will not be covered till 3 years for most insurance policies.

So for young adults, it is imp to take a full-fledged normal health insurance policy

For aged adults, it depends on our affordability to take a full-fledged policy. If tight in budget, at least take the group insurance policy. Some coverage is better than no coverage. My view.

Health insurance policy for grandparents

Any medical insurance companies are there to provide insurance to my grandparents

Star Health provides good ones specially for the aged.

Genetic disorders

The Delhi High Court, in 2018, gave a landmark judgement that genetic disorders being excluded from health insurance is illegal and unconstitutional.

The court has criticised the IRDA for the vagueness in defining genetic disorders and allowing health insurers to dismiss claims on genetic grounds.

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