Most financial advisers and planners say that Indians are under-insured in terms of health cover. Some don’t consider it a necessity, some have too small a cover, while some depend only on the corporate cover that their employer provides. However, covid-19 has increased awareness about the importance of buying health insurance.
While the fear of the pandemic might goad some into buying health insurance, a proper understanding and appreciation for the product is what will find the industry its stickier customers.
If you are planning to buy adequate health cover for yourself, where would you start? How do you buy a health insurance plan? If you settle with the plan your agent sells or are happy knowing you have bought the cheapest plan, there is a bit of unlearning and a lot of learning in store for you. To give you a ready comparison, we designed Mint SecureNow Mediclaim Ratings (MSMR).
The ratings consider various important features such as OPD benefits, wellness programmes, and claim settlements, apart from parameters such as pre-existing disease exclusions, premiums, limits on room rent, and more.
We take a look at the premiums and ratings of A-rated individual policies with a sum insured of ?50 lakh for four age categories—30 years, 45 years, 60 years and 75 years.