Health Insurance : a generic view

[rashmesh radhakrishnan]

INSURANCE : Hey buddies there are a lot of Insurance companies giving super deals as of now. I personally advise you not to compromise on insurance because of the following reasons…….I’ve pulled a comparison table in the latter part of this post for you to have a basic knowledge on how the travelers insurance works ;) Two types of Insurance : Travelers’ Insurance Health Insurance P.S : Travelers insurance will help you claim baggages that were lost during your travel, sick allowance until you get your health insurance. Step 1 : Inquiry Enquire with your university if they only provide health insurance or they also provide travelers insurance (which requires some payment to be done online) prior to your trip. Most of the Universities don’t offer a travelers insurance, in which case you might have to get a separate travelers insurance from India ( say ICICI LOMBARD, Bajaj, Axis,..etc) There is also another option of taking both your health & travelers insurance from here (India) however you need to keep a lot of things in mind if you are purchasing a health insurance from here and is not advisable too. Stick on with the health insurance plan that your University provides you with even though it might be a little costly. Step 2: Health insurance As I said earlier it is better to take the insurance from the University, (although it might differ from each ones personal opinion) In case you are planning to take up you heath insurance from India then please check the following (so that you dont face any problems after coming here) : ......................................................................................................... If the insurance policy ( & the company) is accepted by your University. If the Insurance covers your dental and eye care sector. If the insurance company has a tie-up with the health care unit that is available in and around your University, as this might help you get cashless treatment and reduce the agony and pain that is present in the process of reimbursement. If the insurance covers passport & baggage loss. Rest of which are mostly common and need not be checked as every insurance company will offer them without any doubt. Step 3 : Travelers Insurance You might need it for a month (until you get the health insurance from your University). Look for the same criteria as to what I’ve mentioned in the health insurance sector The following is a comparison of the Travelers Insurance from various companies. COMPARISON for travellers insurance : Company 1 : ICICI LOMBARD Insurance Insurance - Slightly Costlier than the other two Accidental coverage - offers the same claimable amount like other insurance companies Medical allowance - Easily claimable as ICICI has tie up with UNITED HEALTH LTD ( US health insurance company) , so you need not wait for reimbursement instead go cashless and claims can be made then and there– MAJOR ADVANTAGE Passport loss coverage - Same Baggage Loss - Same Policy Procedure - Online ( no proof needed) – takes hardly 2 minutes Company 2 :Axis Bank Insurance Insurance - Medium Accidental coverage - Same Medical allowance - Has a Tie up with BAJAJ ALLIANZ Passport loss coverage - Same Baggage Loss -Same Policy Procedure - Partly online Company 3 : Bajaj Alliance Insurance Insurance - very Cheap Accidental coverage - Same Medical allowance - No third party insurance, has no tie up, you have to call the toll free INDIAN number to claim / reimburse your money – MAJOR DISADVANTAGE Passport loss coverage - Same Baggage Loss - Same Policy Procedure - Compatible by all means I suggest you to take , Health insurance - from your University ( for an Annual term) - u will have plenty of options Travelers insurance - from ICICI / any company ( for 1 month or till you get your health insurance). Have a healthy life ;), Hope this helps, -- Regards Rashmesh