|
|
| *Ostroff, Fair and Company>>>Insurance |
Give details about good insurance scheme for family medical expneses? |
I want to take a good and economical mediclaim insurance policy for my family mediclaim If you live in NY your only hope is healthy NY if you have family of 4 and make under 41m a year. The kids must be under 18. Or you can put the kids on child health plus that is great If you are an Indian and staying in India you can opt for a Mahabank Swashya yojana. For an annual cover of Rs.1.00 lac you pay around Rs.1900 and the cover is available to a family (mxm 4 persons) within the overall cover value. You are saving on the premium which if you cover directly with a general insurance company, would be higher, and moreover the policy would be issued subject to medical examination (if you are above 50). Again the general Mediclaim will enlist family members and limit the liability of the insurance company against each members. In other words if you take mediclaim policy for a family of two persons, with say individual liability of Rs.50000 each, you end up in premium of Rs.2100 . God forbid if one of your family is required to undergo the medical treatement costing to Rs.80000, the insurance company will honour only up to Rs.50000. If however, the policy is availed under group scheme like Mahabank Swashya yojana, and similar incidence occures, you get insurance cover for the full amount of expenditure, subject to the total ceiling. You get reimbursement for Rs. 80000. While appreciating your sincere efforts to have a good mediclaim insurance for your family, i hope you may wish to have CRITICAL ILLNESS COVER for you as you are precious for your family. A critical illness plan means you can insure yourself against the risk of serious illness in much the same way as you insure your car and your house. It will give you the same security of knowing that a guaranteed cash sum will be paid if the unexpected happens and you are diagnosed with a critical illness. Why life cover is no longer enough? There was a time when life cover was enough. Your main fear was probably of dying prematurely and leaving family to cope without a breadwinner. Many life-threatening illnesses such as heart attack, cancer can now be cured but still brings in many problems. How valuable would those extra years be if you found you couldn鈥檛 work? Would you survival actually jeopardise your family鈥檚 lifestyle? Would the family home have to be sold to cover mounting money problems? Would it seem easier on everyone else if you were not to survive? At least they would have the life insurance to help! This is the reason why critical illness policies have been developed. Apart from normal death benefit, it covers you against ten life- threatening critical illnesses- Cancer, Heart Attack, Coronary Artery Bypass Graft, Stroke, Kidney Failure, Major Organ Transplant, Brain Tumor, Paralysis, Coma and Blindness. A person of age 35, by paying rs. 5000 per year[not even 15 rs. per day] can have a risk cover of around 5 lakhs for a term of 20 years. Though there will not be any maturity benefit [as this is not an investing scheme], if the person is found have one of the critical illness given above within the policy paying years , he will be immediately issued a sum equal to 50% of the risk cover taken [ in the above case it is 2.5 lakhs] and without paying any subsequent premiums his policy will continue for the remaining term and in case of death happening within the term years, the balance amount will be paid to the family. In the above 20 years, if the person dies normally instead of any of the above illness, then also the full risk cover taken will be paid to the family. In my humble view, apart from normal mediclaim which will repay only the hopital expenses, every earning member of the family should have the above plan which covers a huge sum with small premium. If you want any further detail you can contact me. Name: Badri Narayanan Mobile No. 9283186541 email : kbadri_narayanan@rediffmail.co... |
| Tags |
| Personal Finance Investing Insurance Credit Corporations |
Finance Categories--Copyright/IP Policy--Contact Webmaster |