Hospital Bills ? - Not A Worry Anymore!

Dear friends @ IL,

This sponsored thread is to create an awareness about the various insurance products that I am dealing with as an insurance advisor.

I am a general insurance advisor with Bajaj Allianz General Insurance Company. The insurance I deal with are health insurance, travel insurance, householders insurance, fire insurance, burglary insurance, jewelry insurance etc. I will jot down briefly about 3 of the most sought-after insurance policies. If you are interested in any of them, you can mail me your contact details to createcapital@gmail.com and I will get in touch with you at the earliest.

HEALTH INSURANCE:
Unexpected medical expenses can take a toll on our bank balance and peace of mind. With hospitalization costs soaring high, it is wise to pay a reasonable annual premium and let the insurance company pay your unexpected hospital bills, rather than letting your bank balance dwindle. We have health insurance plans that cover the cost of entire hospitalization, surgeries, and a whopping 130 daycare procedures. The policy can be taken right from the age of 3 months up to 75 years of age. The average cost works out very nominal at around Rs.3/- per day. There are family discounts available too.

TRAVEL INSURANCE:
You may be planning a visit abroad to visit your family or simply on a holiday. There is a wide range of travel insurance plans available for all ages upto 75 years. We also have plans for students who study abroad. The coverage includes medical expenses, evacuation, repatriation, personal accident, loss of baggage, hijack, trip delay, personal liability, emergency cash advance, trip cancellation, trip curtailment, loss of passport etc.

HOUSEHOLDERS INSURANCE:
Our home is our most valued possession, but it is often insecure with multiple risks. The householders policy covers the building and its contents against natural calamities such as fire, flood, earthquake, lightening, and also from burglary, terrorism etc. At a nominal premium, you can insure your most valuable jewelry and electronic & domestic appliances too.

If you or your family reside in Chennai/nearby areas and interested in taking any of the above policies, kindly mail me at createcapital@gmail.com and I will contact you at the earliest.

You can also refer your friends/family who might be interested in taking these policies. A free personal accident policy will come your way for every successful referral you provide.

You can post your general queries in this thread. As always, I am counting on your valuable support to help me grow in this endeavour.

Get insured, rest assured!

Thanks & regards,
Radhee.

Note: Sponsored Thread

Individual Health Insurance Vs Company-Provided Health Insurance (in India)

Most Indian companies offer group health insurance schemes to their employees and their families these days. When one is covered by such a group health insurance scheme, is taking an individual health insurance necessary? Here's the comparison between the two!


Top reasons why you should opt for individual health insurance.

1. Continuous coverage till 75 years of age. As long as you renew your policy annually and within the Indian territory, you are covered 24x7. Whereas, company-provided health insurance covers you only as long as you work with them. There is no coverage during the time period when you shift between jobs or when you take a break in your career.
2. Tax exemption under section 80 D of the Income Tax Act. You can get tax exemption for your entire health insurance premium subject to a maximum of Rs.15,000. For senior citizens, the maximum qualifying amount is Rs.20,000. You cannot claim tax exemption from your company-provided health insurance.
3. Cumulative bonus of 5% added to your sum assured for every claim-free year, so you get more coverage for lesser premium. This is not available in company insurance.
4. Each individual of your family gets separate coverage. That is, if the sum assured is 2 lacs, each of your family member can individually claim up to 2 lacs. Whereas, in most company insurances, your whole family has to share a coverage of 1 lac. Eg. If one person claims Rs.70,000, then only the remaining Rs.30,000 is available for the rest of the family.
5. You can choose your sum assured from Rs. 1 lac to 10 lacs depending upon your requirement. In company insurance, there is no option to choose sum assured.


Which is the right time to get a individual health insurance?

While getting individual health insurance is important, it is equally important to get it while still young. You should be having an individual health insurance before you turn 45, for the following reasons:
1. People who are 45 years and above will have to undergo medical tests to prove that they are healthy and do not have any serious health issues. There are chances that the insurance companies might reject your application owing to pre-existing diseases such as diabetes, high BP, and the like. If that happens, you will remain uninsured during the latter part of life which is when you are prone to illnesses the most.
2. Diseases such as diabetes, high blood pressure, etc. tend to affect a person only after 45 years. So if you get a coverage before that, then you can be rest assured that all such diseases which you incur later are definitely covered. Otherwise, claims arising out of pre-existing diseases are covered only after 4 years of consecutive renewals of the policy.


A company-provided health insurance is beneficial only:

1. If there is a maternity coverage. You can claim the hospitalization expenses for the delivery of the first 2 children. So please check if your company insurance covers maternity. Most individual insurance policies do not cover maternity expenditure as it is not a disease.
2. If you have aged parents who cannot be otherwise covered under individual insurance because of advanced age/pre-existing diseases. Check if the company insurance covers pre-existing diseases.

Hope the above details give you fair idea of health insurance on the whole. If you have more queries, you can post them in this thread and I will be happy to answer them for you.

Thanks & Regards,
Radhee.

Hi radhee, Good info..

My mom is above 48 and is suffering from high BP, is there any chance of getting health insurance to her. Can you say more about it.

Thanks.

Radhee... quick question..

what does it mean by "sponsored thread"?

Hi, looks like I will be contacting you soon!Thanks for the detailed information.

Dear Sunitha,

Your mom would first need to undergo a medical test where they will check for BP, sugar etc. The results will be faxed over to a team of doctors in our Health Administration Team (HAT). They will decide whether they can issue the policy or not.

Three things can happen in this case:
1. If the BP is not high, then they might issue the policy, but any claim arising out of high BP will not be covered for the first 4 years. (Claims arising out of BP means, either directly arising out of high BP or due to some other disease/illness which was caused by high BP).

or

2. If the doctors at HAT think that BP is high, then they might issue a policy with an exclusion that any claim arising out of high BP will not be covered. You can get claims for other illnesses which does not arise out of BP.

or

3. If they think the BP is too high and feel that it will definitely give rise to other illnesses in the future (which means the claims will be high), the insurance company will not accept the application and will not issue the policy. This is because the insurance company will try to be on the safer side and would not want to take the risk unnecessarily.

At this point, I suggest you can give the application and let her undergo the medical test. We will see what the HAT team has to say with her results. You need not pay the premium until the policy gets approved from the HAT team.

You can contact me at createcapital@gmail.com and I will tell you how to proceed further about this.

Thanks & Regards,
Radhee.

Originally Posted by senorita

Hi radhee, Good info..

My mom is above 48 and is suffering from high BP, is there any chance of getting health insurance to her. Can you say more about it.

Thanks.

Hi Nandhu,

Sponsored thread is a paid thread wherein one can promote one's business at a nominal charge.

Radhee.

Hi Kaluputti,

You are most welcome to contact me at createcapital@gmail.com .

Thanks& Regards,
Radhee.

Hi Radhee

Nice initiative

I had a laproscopy done for removal of fibroids.I am insured thru oriental insurance thru my office. When I submitted my claim, they simply rejected by saying "fertility surgeries are not covered".Surprised !!!

Is there any other insurance policy which would cover my fertility expenses / OP charges?

Please help

Luv

Ridge