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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, 2023Hindi
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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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Ramalingam

Ramalingam Kalirajan  |5056 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 12, 2024

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I AM AGE OF 73, WE ARE NOT HAVING MADICAL {Health) INSURANCE POLICY, at present we are propose get any madical health insurance coverage ANY POLICY IS AVAILABEL
Ans: At the age of 73, it's still possible to obtain medical health insurance coverage, although it may come with certain limitations and higher premiums due to your age. Here are some options you can explore:

Senior Citizen Health Insurance Policies: Many insurance companies offer specialized health insurance plans specifically designed for senior citizens. These policies typically provide coverage for hospitalization expenses, pre-existing diseases, and other medical expenses incurred due to illnesses or accidents. While premiums may be higher compared to regular health insurance plans, senior citizen policies offer comprehensive coverage tailored to the healthcare needs of older individuals.

Government Health Insurance Schemes: Some government-sponsored health insurance schemes cater to senior citizens and provide affordable healthcare coverage. For example, in India, schemes like the Pradhan Mantri Jan Arogya Yojana (PMJAY) or state-specific health insurance schemes may offer coverage for hospitalization expenses and treatment for certain illnesses.

Group Health Insurance: If you have any affiliation with professional or social organizations, you may be eligible to join group health insurance schemes offered by these organizations. Group insurance plans often provide coverage at a lower cost compared to individual policies and may have less stringent eligibility criteria.

Family Floater Plans: If you have family members who are younger and in good health, consider opting for a family floater health insurance plan that covers you along with your family members. Family floater plans offer shared coverage for the entire family at a relatively lower premium compared to individual policies.

Pre-existing Disease Coverage: Since you may have pre-existing medical conditions at the age of 73, it's essential to choose a health insurance policy that offers coverage for pre-existing diseases. Look for policies that provide coverage for pre-existing conditions after a waiting period, as this can help manage your healthcare expenses effectively.

Before purchasing a health insurance policy, carefully review the coverage features, exclusions, waiting periods, premium costs, and claim settlement process. Consider consulting with an insurance advisor or agent who can help you compare different policies and choose the one that best suits your healthcare needs and budget.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

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Latest Questions
Ramalingam

Ramalingam Kalirajan  |5056 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jul 19, 2024

Asked by Anonymous - Jul 14, 2024Hindi
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Which MF from SBI is topper in term of lweath gainer
Ans: SBI Mutual Funds offer a variety of schemes.

It's tempting to invest in top-performing funds.

However, chasing returns may not be the best strategy.

Consistency Over Performance
Consistent Performance: Look for funds with consistent performance over the long term.

Quality of Fund Management: Choose funds managed by experienced and reputed fund managers.

Diversification: Ensure the fund aligns with your risk tolerance and investment goals.

Avoiding Costly Investment Mistakes
Consult a Professional: Seek advice from a Certified Financial Planner (CFP) or Mutual Fund Distributor (MFD).

Tailored Advice: Professionals can provide tailored advice based on your financial situation.

Long-Term Perspective: Focus on long-term growth rather than short-term gains.

Evaluating Funds
Historical Performance: Review the fund's performance over at least 5-10 years.

Expense Ratio: Check the expense ratio, as higher costs can impact your returns.

Risk Assessment: Evaluate the risk associated with the fund and ensure it aligns with your risk profile.

Final Insights
Investing in mutual funds requires careful evaluation and planning. While top-performing funds may seem attractive, focusing on consistency and quality is more important. Consulting a Certified Financial Planner or Mutual Fund Distributor can help you avoid costly mistakes and make informed investment decisions.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

...Read more

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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