Im 62 year old and retired person. I am looking for health insurance policy for me and my wife who is 52 year old and housewife. I am suffering from high BP, Cervical and Lumber spondylitis, knee osteoarthritis, IBS and taking medicines for last 10-12 years. My wife has hypothyroidism, spondylitis and diabetes Please suggest better health insurance policy. Also suggest whether individual or family policy will be better
Regards
Ans: I understand you're looking for a good health insurance plan for you and your wife. That's a smart decision, especially considering your health conditions. Let's break it down to help you choose the best option:
Understanding Pre-existing Conditions:
Your existing health conditions (BP, spondylitis, etc.) are called pre-existing conditions. These might affect your policy options and premiums.
Individual vs. Family Plan:
Family plan: Covers you and your wife together under one plan. It can be cheaper, but coverage limits get shared.
Individual plans: Separate plans for each of you. More flexibility, but might cost slightly more overall.
Considering Your Needs:
Pre-existing condition coverage: Look for plans that cover pre-existing conditions after a waiting period (if any).
Hospitalization coverage: Choose a plan with sufficient coverage for hospitalization expenses.
Medicines: Check if the plan covers medicines you take regularly.
Finding the Right Plan:
Talk to a CFP professional: A Certified Financial Planner can assess your needs and recommend suitable plans from different insurers.
Compare plans online: Many insurance companies offer online plan comparisons. Look for plans that cover pre-existing conditions and have good network hospitals in your area.
Here's a quick tip: Since your wife is younger and has a different health profile, individual plans might be better. This allows you to get customized coverage based on your specific needs.
Remember: Don't hesitate to ask questions! Choosing the right health insurance is important, and a CFP professional can guide you through the process.
Best Regards,
K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in