I am trying to cover 34 orphan kids with mediclaim. Can you please let me know if there is any possibility to cover them through the cheapest insurance? The age group is 6 to 18 years.
Ans: Hi Rajesh, my advice will be to decide upon a coverage value that you feel will be enough for these children. That will help you to see what premiums the insurers are offering you to fit that coverage value.
Premiums are decided through a scientific approach, a formula.
Each premium is designed in a manner that it will reflect the risk profile of an individual and accordingly a premium quote is generated. So there is no cheap or expensive insurance, it totally depends on the risk profiling of the individual and the sum insured that is suitable for an individual.
I advise you to check and compare pricing for a decided sum insured on our broking website, www.coverfox.com, which will help you see the differences in pricing and other facilities of various insurers and purchase the one that fits your requirements.