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Best insurance policies for your family

Last updated on: June 21, 2010 16:53 IST
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Have a query regarding health insurance or mediclaim policy? Maybe we can help.

Drop us a line and our expert, Harsh Roongta, CEO of, will answer it.

Please write to us at with the subject line as: Health insurance query.

I am aged 53 with family (2ADULTS + 1 CHILD). I am employed in a private co with company group health insurance (Rs 6 lakh) of cashless hospitalisation policy.  I would like to have additional health insurance policy so that my health insurance will continue after my separation /resignation from the company with a less premium and also during job change periods if any which can cover pre-existing diseases if any at the time of my separation, without waiting period.

At present there are no pre existing diseases. I want my policy cover to be Rs 2/3 lakh which could be topped up/increased to Rs 6/8 lakh after my separation.

I plan to continue in any job for 3/4 yrs. Please suggest a good health insurance policy. There are so many companies/policies and it is getting difficult to select one. I like cashless medical facility.

Harsh: Since you are already aged 53, by the time you will get separated from your job after 3 to 4 years, it will be difficult for you to increase your sum assured. So we would suggest you to buy the required sum assured now. We would also recommend you to buy individual plans for all you family members. Please find details of the same in the link mentioned here:












Every year the costs of any particular treatment/operation goes up, either due to inflation or hospitals increasing their charges. But the insurance cover, once a policy is taken, is always fixed. I have a health insurance, even its premium is going up every year but the cover is the same.

If I take an insurance policy at 40 for Rs 2 lakh, by the time I become 50, this cover of Rs 2 lakh may be a trifle. At that time the normal cover may be for Rs 10 lakh.

Are there any health insurance policies where the cover goes up every year according to inflation or average price rise? If not, is this not the real need of the market/people? Of course the premium for this kind of insurance could be high.

Harsh: There are no policies, which will increase in terms of sum assured based on inflation. You can certainly take a super top-up policy to get benefit of higher sum assured.

This plan is generally taken to enhance your sum assured over and above the health insurance policy taken by you. This policies work on a concept of threshold limits. Say you already have a sum assured of Rs 7 lakh. Then you can take a super top-up policy of Rs 5 lakh with a threshold limit of Rs 3 lakh. So in case your hospital bills go over and above Rs 3 lakh, then the super top-up policy will pay for excess over Rs 3 lakh.

The basic difference between a top and a super top-up plan is that in case of a top-up plan, the deductible is for each and every time the insured is admitted in hospital but in case of a super top-up plan, the deductible is applicable only once during the tenure of the policy. It means that in case the insured is admitted in hospital twice in a year with a bill of Rs 4 lakh and Rs 5 lakh then a top-up policy will pay only Rs 1 lakh and Rs 2 lakh (bill amount deductible).

But in case of a super top-up plan the amount paid will be Rs 1 lakh and Rs 5 lakh as the deductible needs to be hit only once during the term of the policy.






Info for your advise: Mediclaim policy for my sister, 45, single; no pre-existing diseases; Corporate hospitals in Hyderabad/Secunderabad like Apollo/Yashoda Super Speciality Hospitals; coverage up to Rs 3 lakh; Tax benefit (obviously).

Harsh: Below are a few products mentioned for your sister for a sum assured of Rs 3 lakh:











Harsh: You can see the comparisons of all mediclaim policies on these parameters at

You will have to check on the websites of the individual insurance companies to check if particular hospital is covered by them in cashless or not. All policies will provide tax benefit under section 80 D. Your sister will get the deduction to the extent of premium paid or Rs 15,000 whichever is lower. No tax deduction will be available to you in case you pay the premium yourself for your sister.

I am 31 and employed in an international not for profit organisation and located in Delhi. My organisation offers insurance coverage which includes hospitalisation up to Rs 5 lakh per year. But it offers only for me. My wife who is 30 is not covered.

Hence, I am looking for a policy which gives us most of the medical benefit. I would like to cover individually up to Rs 5 lakh. Please suggest some policies which will be appropriate for our requirement.

Harsh: Below are policies which match your criteria for a sum assured of Rs 5 lakh for both you and your wife.












I am a 41-year-old businessman. My family includes my wife, 36, daughter 14 and son 8. I am interested to take a floater mediclaim policy for sum insured approx. Rs 2-3 lakh which can bear any sudden medical and hospitalisation expenses. My preference is for National Insurance Co. Ltd.

We would strongly recommend you to buy individual plans for all you family members. Please find details of the same in the link mentioned below. Below are some plans which match your criteria. You can visit the following link to get more plans for yourself for a sum assured of Rs 300000 (family floater for 2 adults + 2 child). Children will be covered till they reach the age of 21 to 25 years of age depending upon policy to policy.











I want to purchase mediclaim policy. Please let me know which company policy would be better to cover my family. My wife is 26, my mother is 56, my father is 62, and I am 29.

I would like to cover all possible medical expenses in the policy. Like All Critical diseases, pregnancy, OPD if possible, accident etc. Please let me know what all possible options are there.

Harsh: Normally no policy will cover expenses on pregnancy or OPD expenses. These are permanently excluded from most policies. We would strongly recommend you to take individual policies for all the family members. For your father you can go ahead and take National Insurance Varistha Mediclaim policy or Star Health Red Carpet. A brief comparison is presented in the table below:













The premiums mentioned above are on individual basis. Given below are some plans that match your criteria for yourself and your wife for a sum assured of Rs 3,00,000 individually.











Recently I have been through angioplasty and I would like to go in for mediclaim. Kindly suggest some companies that would cover me, 44, with the illness, my wife, 37, son, 12, and daughter, 9, preferably from a government owned insurer. My family does not have any illness. Alternatively, if the illness is not covered now then in case if I take the mediclaim now then after how many years can I be covered under the same ongoing mediclaim policy? Private companies mediclaim have many ifs and buts. I have approached agents and they have many stories and I am totally confused.

Harsh: We advise individual policies for every family member. Below are a few options which you may consider while buying the policy. The premiums are calculated individually for every member of your family for a sum assured of Rs 3,00,000 each.










For yourself you may have difficulty getting a policy due to your pre-existing conditions, however given below are some policies that you can try. Star Health Mediclassic (pre-existing covered after 4 years) India Insurance Mediclaim (pre existing covered after 4 years) ICICI Lombard Health Insurance (pre existing covered after 4 years)

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