To have a high medical cover for family: me, wife, kid and mother (58 yrs old). Present cover I have is the one provided by my company with a limit for 3L approx. I intend to have a cover for say 20~25 Lakhs, citing to sky rocket cost of high quality medical care. In situation of critical illness treatment this 20~25 L may look peanuts.
So, should I go for:
– taking new cover of high value or take a super top-up plan on existing cover from company
– taking super top up on existing policy have some issues in claim as I try to gather knowledge on internet (again scenarios, whether from existing insurance provider or a diff one!)
– should I go for a separate critical illness cover for self and mother which covers only few critical illness
– should I go for an accident rider or take a separate accident policy? As if I’m left with disability or long term bed ridden I need back-up for my expenses
– finally, if decided what sort of plan to go for, it’s a dilemma to choose a right company and right plan!
-Apart from your employer-provided health insurance, you must have a basic health insurance for your family. Hence, buy it immediately.
-Once you have a health insurance from employer and on your own, then opt for super top up plans. But in my view include your mother’s health insurance with your corporate insurance only. Because claim is easier than individual health insurance.
-Critical illness is a complicated product. If you have family history of such diseases, then go ahead. Otherwise, it is better to avoid.
-You must have accidental insurance separately than opting for riders.
-Refer my post regarding chosing health insurance. It may help you in short listing a company and product.