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Ramalingam Kalirajan |1025 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Apr 16, 2024

Ramalingam Kalirajan has over 23 years of experience in mutual funds and financial planning.
He has an MBA in finance from the University of Madras and is a certified financial planner.
He is the director and chief financial planner at Holistic Investment, a Chennai-based firm that offers financial planning and wealth management advice.... more

Question by Yelamanchili on Feb 27, 2023Hindi

GOOD MORNING Dr , request to suggest for a health policy for a person who works in sea ( say approx 200kms away from shore) for 50 to 90 days at a stretch & having break for rest( 2 to 5 weeks) & resume likely again 50 to 90 days( work location in gulf areas ie abudhabi, Quattar, Soudi, Iran etc)Base stay in viskhapatnam AndhraPradesh India.Kindly recommend suitable policy to meet this nature of policy ( helicopter ambulance is needed to shift from ship to shore admit in hospital).Trust our requirement is understood ,kindly do needful. With best regards, YPRaju

Ans: Mr. Raju. Given your unique work situation and the need for comprehensive health coverage that includes helicopter ambulance services, here are some health insurance policies you may consider:

Global Health Policies: These policies offer coverage both internationally and domestically. They provide extensive coverage for hospitalization, outpatient treatments, and emergency medical evacuation, including helicopter ambulance services.

Marine Crew Insurance: Specialized policies designed for individuals working in marine or offshore sectors. They offer coverage tailored to the needs of seafarers, including emergency medical evacuation.

International Health Insurance: These policies offer worldwide coverage and are suitable for individuals who travel frequently for work. They provide comprehensive coverage for medical expenses, including emergency services and evacuation.

Critical Illness Cover: Considering the nature of your work and frequent travels, a critical illness cover can be added to your health insurance policy to provide financial support in case of serious illnesses.

Things to Consider:

Coverage Area: Ensure the policy covers medical treatments in the countries you frequent for work.
Emergency Evacuation: Confirm that the policy includes coverage for emergency medical evacuation, including helicopter ambulance services.
Policy Renewability: Opt for a policy with lifetime renewability to ensure continuous coverage.
Sum Insured: Choose a sum insured amount based on your healthcare needs and the cost of medical treatments in the countries you visit.
Please consult with an insurance advisor or broker to find the best policy that meets your specific requirements and provides comprehensive coverage both in India and internationally. Ensure you read the policy documents carefully to understand the coverage, exclusions, and terms and conditions before purchasing.

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.

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This is Bobby here and have a few questions related to your article (enclosed), Mediclaim: What You Must Know Would like to know, with your experience in this field, as to: 1. Which mediclaim policy or policies, currently in INDIA and especially Mumbai has all the required coverage as mentioned in your article 2. We are a family of 3 with a school going child and both of us are aged 45 3. Have acquired diabetes a few months ago and have hepatitis B and kidney stones 4. What should be the approximate premium, per annum to cover all that is mentioned in your article and keep us safe from the issues arising out if and when we really require hospitalisation and save us from rejected claims. 5. Presently we are covered under Mediclaim policy from Star Health Would be highly obliged should you guide us on the above to make our lives easier.

Ans: Hi Bhupesh, there is no ‘one size fits all’ concept with health insurance. Health insurance is based on preferences of the customer and then the premium quotes are generated based on those factors. You can use insurance broking websites to compare the offerings on the mentioned 5 factors and the premiums for various policies that will help you to compare their benefits and make an informed choice. Depending on your priorities, weigh out the factors and decide accordingly.

Since you have mentioned about your family, you can opt for Family Health Insurance policies with an appropriate sum insured to cover your entire family. Like I have mentioned before, premiums are unique to individuals depending on their preferences, the sum insured they deem suitable, the riders they choose, their medical history etc.

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My family (aged 54 years) is covered under ECHS (Ex-servicemen Contributory Health Service) for the last thirty years. I have family floater health hospitalisation policy in two different insurance companies. Three years back, she had some issues related to her blood disorders. During the blood transfusions, we have made claims in the insurance cover. It took few months to diagnose the issue. Finally it was diagnosed as 'a type of blood disorder'. I have availed the hospitalisation and treatment facilities from ECHS. Now she has recovered (and under medication) for the last two years. She is leading normal life. My query is: Can I declare and have Critical illness included coverage in the health insurance? (Earlier I was denied as permanent exclusion -IRDA). Can I continue the existing health coverage from the insurance from other than Critical illness? (I can get ECHS facility, but there are limitations). Since she is alright, will the insurance companies accept? We are ready for relevant medical tests as required. We seek your advice.

Ans: Hi Thangavelu, good to know that your wife is doing well. To answer your first query, yes you can declare your critical illness and avail the rider for it. Another option is to purchase a new plan for critical illness from an insurer of your choice. The insurer will ask a set of questions and based on that the coverage will be provided. However, most of the insurers will keep the PED in the Permanent exclusion list. As far as your query on continuation of policy is considered, you can continue with the existing health policies you have.

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I am an employee of central govt. PSU. My family consists of myself, spouse, two minor children and mother. I am covered by a corporate group medical insurance policy for Rs 2 lakh with an additional emergency coverage of Rs 4 lakh by the employer. I also have a personal Family Floater policy for Rs 3 lakh and a Sr. Ctzn. Policy for Rs 1 lakh. I have not used the personal policies till date for any hospitalisation claim. I am aware that a claim exceeding the corporate policy limit can be claimed in the personal policy. Recently I was made to know that any planned hospitalisation exceeding the corporate claim limit, cannot be done using the second policy. I also know that there is a product called as top up policy which can be used in such cases. I have 8 years of remaining service where there is a medical insurance cover during the period. After retirement, the employer provides a basic policy of 1.5 lakh for the family. The same feels to be insufficient in today’s times. What would be your advice with regards to the existing medical insurance policies and their amounts? Should I need to undertake any tweaking of the policy amounts or switch to a top up policy?

Ans: Hi Pradeep, yours is a legit concern. It would be best if you take advice from a professional person or company – having the necessary qualifications -- after discussing your issue with them.

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