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Sanjib

Sanjib Jha  | Answer  |Ask -

Insurance Expert - Answered on Jan 25, 2023

Sanjib Jha is the CEO of Coverfox Insurance. His expertise includes health and auto insurance. He has over 22 years of experience in the financial sector. He has completed his post-graduation from the Institute of Company Secretaries of India.... more
Anonymous Question by Anonymous on Jan 25, 2023Translate
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Hi Mr Sanjeeb Is there an upper limit to get medical insurance? Im a salaried professional

Ans: 1 crore is the maximum coverage allowed by Insurers.
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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Sanjib

Sanjib Jha  | Answer  |Ask -

Insurance Expert - Answered on Oct 12, 2022

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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.

Insurance is each to its own. Depending on your concerns and requirements a professional service provider will be able to give you the best advice, whether to tweak policy amount or switch to top up.

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Sunil

Sunil Lala  |150 Answers  |Ask -

Financial Planner - Answered on Feb 26, 2024

Asked by Anonymous - Feb 26, 2024Translate
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Dear sir, I am currently 45 and just off from my dependents i.e., my 3 sisters out of which 2 were expecting my help to settle on their life - both my sisters off from their burden to an extent as their son started working and daughters were married to a decent families. I helped them by helping on their studies, marriage of my niece and assisted my nephew to buy a property (provided the advance or initial payment of 4 lacs). I haven't saved anything for my kids yet except a house , some jewellery about 50 sovereign and 1/2 ground land. My sisters and mother doesn't feel complete but I have informed it is not happening because I need to looks at my 2 kids 11 and 6. Besides, my wife is super supportive and never disputes or raised concerns. The ask is I have been working since childhood like 16 so feeling tired at times so I am planning to start my own businesses but still I am feeling jittery as I didn't save much for their studies etc. I am working in ites services so I feel like that I have 5 years max ahead. No politics in the office but I am stuck with no major opportunities. Please guide me on how to put a perspective and lead a clear way ahead as I am totally confused to be honest. Thanks in advance and please write back as this is my second time asking for suggestions.
Ans: It would really be good to answer you but I am confused as what to tell you because you have not mentioned any of your financial goals as such, I may not be of any help to you for your social obligations
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Sunil

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Financial Planner - Answered on Feb 26, 2024

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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