Question: HI THIS IS SUBRAMANYAM, MY AGE IS 59, MY WIFE AGE IS 50 & I HAVE 1 SON 2 DAUGHTERS. I WANT TO TAKE A HEALTH INSURANCE PLAN WHICH WILL BE BEST SUITS ME.PLS PREFER SOME RELIABLE INSURANCE POLICIES
Answer: Dear Mr Subramanyam, since you are your wife are above 50, we suggest you go for a health policy that allows you to renew for lifelong without restricting insurance cover for just a limited number of years; the premium may be at a little higher side but it would be worth the cover you may receive.
We are recommending 2 policies as under -
1) Apollo Munich Easy Health - It is a family floater policy that covers all members of your family; it is advisable if you would like to purchase health insurance for your entire family for a discounted premium. Here, the sum insured will be deducted to the extent utilized by any of the family members. Also, Pre-existing diseases will be covered from the 4th year onwards.
2) Bajaj Alliance Silver Health - It is a senior citizen's policy. The important features are it can be renewed only until the age of 75 years but any pre-existing diseases will be covered from the 2nd year onwards (but restricted to 50% of health cost incurred). You may consider buying a joint policy for you and your wife.
We recommend a minimum sum insured of Rs 5 lakhs considering the phenomenal rising of health costs. You may leave your name and contact number at the respective insurer's website so that they can assist you in purchasing the policies. Read the inclusions & exclusions in the policy carefully before purchasing.
Warm Regards,
Expert @ InvestmentYogi