This is the archive of all our articles related to health insurance
I have a ten lakh base policy and a 15 lakh super top-up (10 lakhs deductible) family floater policy from oriental insurance from 2008 covering me, my wife, and my daughter. As you mentioned in the article, – it has a room rent sub-limit of 1 % of the insured amount. So, I bought another…
Continue reading →A reader recently could opt for a cashless claim or pay cash and then be reimbursed in a network hospital—an account. This is my experience when encountering a Cashless VS Reimbursement situation a few months ago in 2023 (the story was shared with us in Feb 2024). The hospital offered a package for the procedure…
Continue reading →In this article, Sunil explains how he contested a health insurance claim rejection with the Insurance Ombudsman (Bima Lokpal portal) and won. Sunil prefers that the health insurance company not be named in the article (the editorial team at Freefincal is also unaware of this). The procedure followed matters more to the reader, as it…
Continue reading →In this article, Lakshman shares how he bought a health insurance policy for his family. We are grateful to the members of the freefincal community for generously sharing their research with all of us. Note: Health insurance is an extremely personalized purchase. Please do your extensive research before buying. I started learning about personal finance…
Continue reading →I’m a 35-year-old married man with one child. While I’m already covered by a health insurance policy worth 5 lakhs through my current employer, I also purchased a personal family floater Mediclaim Insurance worth 5 lakhs last year. Recently, after reading various posts and blogs, I’ve come to realize that relying solely on a health…
Continue reading →If you are travelling on a Schengen Visa, travel insurance is mandatory. In this article, Anoop shares his experience of buying Schengen travel insurance. Note: My limited understanding is that, in principle, it may be possible for Indian residents (without any sponsors in Europe) to buy Schegne insurance from European insurers, but it won’t be…
Continue reading →In this article, SEBI registered fee-only advisor Ajay Pruthi explains how to choose a health insurance policy. About the author: Ajay Pruthi is a fee-only SEBI registered investment advisor. He can be contacted via his website plnr.in. Ajay is part of the freefincal list of fee-only advisors and fee-only India. Do you think there’s no need for personal health insurance…
Continue reading →Recently, some media reports have claimed that the age limit on health insurance purchases has been removed. Is this true? If yes, will this benefit a large segment of the population? The IRDAI circular dated 20th March 2024, F. No. IRDAI/Reg/8/202/2024 (thanks to Kamlesh Rao for sharing it on the Facebook group Asan Ideas for…
Continue reading →This article explains how the co-payment (co-pay) clause works for health insurance policies. It originates from an email exchange with a reader about base policy co-pay limits and super top-up applicability. This article would not have been possible but for the expert guidance of Ajay Pruthi, a fee-only SEBI registered investment advisor. He can be…
Continue reading →There is a belief among some that hospitals may misuse the cashless hospitalization facility offered by medical insurance policies. As a result, they suggest paying out of pocket and then seeking reimbursement through the policy. This raises the question: is it more prudent to utilize the cashless hospitalization facility or pay upfront and seek reimbursement…
Continue reading →It should be evident to most of us that those with a non-permanent or corporate job should not rely on their group health insurance or group life insurance because they can lose the job anytime and become uninsured. I have heard stories of those who became hospitalised the day after they left the job or…
Continue reading →The titular line – Why our net worth is the best insurance there is – hit me as I made notes for the health insurance episodes of the Let’s Get Rich with Pattu podcast. Yes, we all know the basics – get adequate life insurance, health insurance, and emergency insurance (fund) before you start investing….
Continue reading →United India Insurance has revised policy terms and premiums for its Family Medicare and Individual Health Insurance Policy w.e.f 14th Sep 2023. I recently renewed my family’s medicare policy with them and found that the premiums for me (age 49), my wife (age 47) and my son (age 13) have not increased. These are individual…
Continue reading →This article is based on a real-life experience of my client, Rajesh. He had a 21-month-old health insurance policy from an Insurer for the Sum Insured of ₹ 10 lakhs with good comprehensive features. About the author: Shashi Singh is a fee-only SEBI-registered investment advisor. He can be contacted via his website finmyn.com. Shashi is part…
Continue reading →Everyone needs to build a corpus to handle medical expenses either in the near future or after retirement. I discuss simple ways to build a corpus for medical expenses in this article. Remember that a corpus for medical expenses is not just for those who cannot buy health insurance due to ill health. Even those…
Continue reading →