Buying health plan at 65? Go for comprehensive cover, check co-pay

By Prasun Sikdar

As I am 65 years old, what kind of health policy should I buy and what will be the premium?
—Arun Rekhi

It is important to opt for a health insurance plan at the earliest and not let any unforeseen hospitalisation claims eat up your hard-earned retirement savings. You should look for such plans where there are no restrictions on entry age. If you can afford the premium, considering your age, it is advisable to have a comprehensive cover with high sum insured. You can look for a plan which covers in-patient hospitalisation, day care treatments, pre & post hospita-lisation, ambulance, donor expenses apart from other health and wellness related benefits. Check for the sub limits and co-pay which can impact your claim pay-outs.

My wife, daughter and I have individual health insurance of
Rs 3 lakh each. Should I convert it into a family floater for Rs 10 lakh?
—M K Prasad

I would recommend a sum insured of Rs 10 lakh or more as a floater cover given the fact that in case one of you gets hospitalised then you have a sufficient cover at your disposal. Most insurers offer a restoration or recharge benefit in their core product proposition which works really well in a floater cover and acts as a backup for the family. Alternat-ively, you may increase the sum insured by purchasing top-up plan.

How can I opt for OPD cover as I am spending a lot of money on doctor consultation for my dental problem?
—Suresh Narayanan

There are many plans available which gives the OPD cover. But while buying a plan, it is always better to go for compre-hensive cover which can take care of all kinds of health eventualities and not just dental or OPD related expenses. I have an office cover and a personal floater policy. Last month I had a bypass surgery and the total bill was Rs 5 lakh.

Can I claim Rs 4 lakh from office policy and the rest from my personal insurance policy?
—Ashwin Dang

Of course you can. If coverage from one policy is insufficient to pay the bills then you can claim the remaining amount from another policy. The rule is that the same expense cannot be claimed twice from two different insurers.

The writer is MD & CEO, ManipalCigna Health Insurance. Send your queries to fepersonalfinance@expressindia.com