Although expensive, comprehensive plans take care of all aspects of health care in case of an emergency
30-Oct-2013 •Research Desk
I would like to buy a family floater health policy. I am 34 and my wife is 32. I have two children and we are a healthy non-smoking family with no history of disease. I am looking for a plan with lifelong renewal and no sub-limits on room rent and doctor fee, no co-payment clause. Should I take a critical illness rider or separate critical illness policy with high coverage?
You have perfectly identified features of a good health insurance plan. Policies with lifelong renewal can keep you covered till old age, when chances of getting ill are at peak. Plans with co-payment clause require the insured to pay a part of medical bills every time a claim is made. It is best to eliminate this clause to avoid financial constraints during a medical emergency.
You can buy a health policy online or offline as convenient to you. Apollo Munich Easy Health, ICICI Lombard Complete Health Insurance and Tata AIG Mediprime are some of the policies that suit your needs. You can select a basic cover or a comprehensive one according to the protection required. Premium will depend on the type of plan you opt for. Larger the coverage, higher would be the premiums.
It is important to understand policy exclusions and waiting period while buying a health policy. A standalone critical illness policy will cover larger number of diseases as compared to a critical illness rider. If you have family history of any particular disease, consider buying protection against it. Max Bupa Health Assurance Critical Illness and Chola MS Critical Healthline are standalone critical illness policies that cover a number of diseases and offer lifelong renewals. You can also check other critical illness policies in the Insurance section on our website.