The article does not guide the reader about who will declare or ascertain list of "pre-existing illnesses". This is the fundamental point where most of the customers get a rude shock to discover that after paying premium for years, they cannot claim any bill at the time of their need.
Also mediclaim TPA and Ombudsmen process need to be discussed.
Mediclaim details are not enough
by Srinivasan.S on Jul 25, 2006 05:36 PM
Dear Reader,
As far as the Family Floater is concerned, no individual family is allowed to have this facility by the Medical Underwriters. But if any proposal comes from a homogeneous group - club, association, corporates, etc., - limiting a fixed sum per family, the cover would be floated amongst the members of the family, as a tailomade policies for each block of insured persons. But as these businesses have ended up with heavy loss ratio to say 300 to 400 percent, medical insurers have stopped such a floater facility even to groups and some insist the higher sum insured bracket.
hope now you are clear why the Development Officer of New India said that no such floater cover was available. Incidentally the public should know, when the govt. non-life insurance companies issued Floater Medical Insurance to general public, refused to cover their employees and their families under Floater Medical Cover.
The article did not cover a key feature offered in most mediclaim policies, the Floater.
You can insure your family of 3 for a floating cover of Rs. 3 lakhs, instead of each member for Rs. 1 lakh. So in case a family member falls ill and you spend Rs. 2 lakh on her, then the insurance company will reimburse the entire amount.
Most people prefer a floater which is obviously a superior product.
RE:Insufficient Info
by Sanjay Makkad on Jul 25, 2006 01:50 PM
Dear Mr. Shubhankar Senguptaji, I read your comment on the mediclaim. It was strange for me to find out that such system(Floater) exists. As I asked a development officer in New India Assurance Company about this system he clearly said no there is no such type of system. Can you please specify the name of the company that is having such system.
When a person takes a mediclaim, he gets actual reimbursement on the expenses incurred by him, but if he simultaneously takes a health policy from Tata Aig Life Insurance Co Ltd., he gets additional fixed amount on the medical expenses, e.g. if he has a heart attack, he gets actuals from Mediclaim, but if he had two units of Health First from Tata Aig Life, he gets and additional Rs.2,50,000/- also. Hence this policy is a wonderful add on to your mediclaim policy, giving you additional income to sustain yourself and family when going through a health problem. Tata Aig Life Insurance Co Ltd., has two wonderful health policies that needs to be considered when you plan for your medical coverage.
