You will not believe what this couple has done for their family

This Mumbai-based couple has thought of everything when buying health insurance for their family. Read on to know their story.

Palak* (34) and Avinash Poddar* (36) had an epiphany last year. “One of our family friends died in a car accident. He was in his 30s, with two young children and a stay-at-home spouse. After we attended the funeral, we were both quiet,” Avinash remembers. “When we got home, Palak started crying. She said, ‘What will that poor woman do? They have no money and she has no job. What about the children?”

The next day, the couple started scouting for options to protect their family in case a disaster claimed Avinash or Palak, or both. “I drew up a monthly savings plan,” Palak says. “Avinash pays for most the household expenses while my salary goes towards the children’s education. I decided to set aside larger sums of money and invest them in ULIPs. Meanwhile, Avinash started looking for a good family health plan that would have hospitalisation benefits, hospital cash insurance, cashless mediclaim and whichever other benefit was being offered.”

A month later, Avinash also took child insurance plans for his two boys. “It is not enough to merely take family health plans. Suppose we are unable to work for some reason – how do we ensure that our children get the best education? I also took a family health care insurance plan that took my parents, us and our children into its fold. The plan includes critical health insurance, accident disability cover and additional covers for surgery and treatment costs. I now have Rs 10 lakh sum assured health insurance for family.”

As a result of the couple’s foresight, Avinash’s parents and children will never know a day of financial worry in case he is no more. “It is my duty to provide for the family, and help them live a life of dignity and self-d
ependence after my death. Plus, I must insulate my savings and securities from my parents’ future hospitalisation,” he reasons.

When the couple’s family medical insurance plan matures, they will receive the sum assured and the accrued premiums paid, apart from bonuses (if insurance is not claimed in the policy period). Palak’s ULIP investment will also reap dividends in the meantime. This comes to a substantial sum of money. “We are not thinking of the pay-outs. Our primary contention was to protect the family in every way. I think we have achieved that,” smiles Palak.

*Characters in this article are merely illustrative in nature

Benefits of a family health insurance plan

The only constant in life is change – and the possibility of financial burden in the future. Ease the strain with a good family insurance plan.

They say that the only constant in life is change. That is indeed true, except for one aspect: the stress of our lives does not change, neither does the possibility that one may fall seriously ill and leave one’s dear ones to fend for themselves.

Today, there are myriad options that help a person make the right choice about how to safeguard his or her family from future financial burdens. There are a multitude of insurance options that can help pull our families through a financial crisis. But we humans live in the present – and in the present, we are young, healthy and making good money. The prospect of being bed-ridden or poor in the future seems too fantastic to be true.

And so we fail to do the one thing that will secure us in case of accidents or illness – take health insurance for family. A good family health plan takes care of the family’s medical needs when there is a need for hospitalisation or post-operative treatment.

A lot depends on the kind of family health care insurance that one takes, and the features it provides. If it is a cashless hospitalisation plan, the family health care insurance provider deals with hospital administrators and settles the bills claimed. Similarly, if the policy holder has opted for hospital cash in the family medical insurance plan, the patient’s immediate relatives (and beneficiaries of the policy) will receive a daily cash allowance.

Fortunately, there are a multitude of excellent family health insurance plans in India, so customers can choose the best ones to suit their needs. If you are about to purchase a family health plan for the first time, remember the following factors that must be a part of the policy: it must cover the entire family (including dependent parents and/or siblings and/or children), it must cover the maximum numbers of ailments and procedures requiring OPD care in a single day, and account for hospital expenses for at least 30 days.

A desirable family health care insurance plan will cover not just the policy holder, but give each covered family member the same amount of coverage. A bigger factor to consider is the possibility of lifetime renewal – this is useful once the policy holder crosses the age of 60 or 65 years and is not eligible for a new health insurance policy.

Ultimately, the purpose of taking a family health plan is to secure the family against future medical emergencies. If the future is taken care of, you can rest assured in the present.

Buy the best mediclaim for your family

You may currently be looking for a good mediclaim policy for your family, but are confused about what to look for. The mediclaim you buy must provide adequate coverage and the insuring company must settle your claims in a reasonable amount of time – this is the basic expectation any person will have from the mediclaim policy.

A mediclaim policy that covers the entire family is a must in today’s times. It accounts not just for your claims against illness but also looks after expenses related to accident hospitalisation. It is churlish to believe that your children need not be covered under mediclaim – there is no predicting when an emergency will strike and who it will affect.

You must be aware of the following factors before you purchase mediclaim for family:

1. Decide on buying a family floater plan.

You have the option of buying an individual mediclaim policy for each family member, or club the entire family under one family floater plan. In the former case, each member will be covered for a certain amount of money while in the latter, the coverage is extended to the whole family. However, there may be some pitfalls to this decision – if the primary insured paying member exceeds a certain age, the entire plan is closed and the rest of the family cannot avail of it. A new plan will have to be taken in this case. The same problem occurs in case the primary paying member dies. Most plans don’t allow easy renewals, so the plan has to be junked.

2. What are the renewal terms?

Opt for a mediclaim that offers the option of renewability as you age. Most mediclaim policies for family are renewed every year and do not allow the option of renewing after three or four years of purchasing the mediclaim. However, some good plans allow renewal in a bid to encourage a long term association with the company.

3. Are there any special clauses?

At the time of purchasing a mediclaim policy for family, pay attention to certain terms and conditions which will have long term implications. Most important among these is the sub-limit imposed on the policy – this means that you will only get a part of the total claim you filed, despite the sum assured being a much larger one. The sub-limit may be imposed on such things as the hospital room charges, daily doctor visit fees and other medical charges. They may also be imposed on hospitalisation and treatment for only certain diseases. Whatever your actual expenses incurred, you will receive only as much as the sub-limit allows.

Understanding a silent ailment – HeartBurn

People the world over experience heartburn at some point in their lives. In India, however, heartburn is a common condition in the urban centres of the country, owing to our penchant for spicy food, erratic diet and lack of exercise. However, some causes of heartburn may be genetic.

It is a myth that heartburn is an ailment related to the heart. It is a burning sensation experienced in the chest region after stomach acids flow up into the food pipe. It may happen occasionally to some people, especially if the lining of their stomach is weakened owing to an illness, but heartburn happens to some people every day. It is commonly referred to as acidity, and certain foods can trigger it.

However, the symptoms of heartburn and heart attack are quite similar; this fools people suffering from a heart attack from acting quickly. Most people experience heaviness and burning in the chest in the first stages of heart attack, and they head to their GP for acidity drugs. A smart and alert doctor can quickly see the signs of a heart attack and get the person admitted at once. However, it is often too late for most people; the initial symptoms soon give rise to other more serious signs like acute chest pain and breathlessness.

Medical Insurance Policy and Money Planning For Newly Weds

Investment Planning Tips for Newly Weds

Did you know that not knowing your partner’s views on money and what his/her experiences have been with finances during their growing up years could be a gross mistake? If you are newly married, one of the first things to do perhaps is to get the money and investment planning right. There are a lot of aspects to be delved into, including wealth creation, crisis management with the aid of a life insurance and medical insurance policy, and managing day to day finance of course. We look at a few simple yet effective tips here.

Important Tips for Investment Planning

1. Have an Open Discussion: Before any investment plans can be created, it is important to understand each other’s priorities. Starting with a heart to heart discussion is best. Each will have their own priorities or even individual responsibilities to carry out. These would have to be respected to reach common ground.
2. A Mix of Joint and Individual Accounts is Preferred: Opting for joint bank accounts in banks is common after marriage. However, if one partner is uncomfortable with this, there is no need to rush into things. Some people prefer to have control of their life and their income, and respecting it is best. What you can do is have joint accounts for sharing family expenses and individual ones for personal needs. Once joint investments are planned, funds can be allocated accordingly.
3. Always Prioritize Risk Management: Wealth creation is important. However, protecting each other against the uncertainties of life is more important. So, insurance must be prioritized. If both of you are working, opt for a comprehensive medical insurance policy with critical illness cover. Choose one that provides maternity benefits for future needs. Remember, apart from the apparent benefits these policies provide, you will also be entitled to tax rebates. Also consider life insurance. Discuss options and choose one that puts both of you at ease. If you have bought a home or car, consider auto and home insurance as well.
4. Manage Credit Cards Well: If both of you have credit cards and are managing them well, it is an ideal situation. However, if one lacks debt management skills, it is the duty of the other to pull the reigns and keep him or her in check.

Remember, financial stability will go a long way in ensuring longstanding relationships. And, how well your finances shape up depends on the strength of foundation laid.

Get a Medical Insurance Policy for Bacterial Meningitis

Bacterial Meningitis: Facts for Quick Remission

Doctors warn that bacterial meningitis is a disease that progresses swiftly. And adequate care, as well as proper treatment, is required for containing the ailment or curing it. A delay in recognizing the symptoms could prove fatal. To begin with, it is always important to opt for a medical insurance policy that covers critical illnesses. Such a policy will take care of treatment costs once the condition is diagnosed. We look at a few prominent symptoms of the disease for early detection.

Understanding Key Symptoms

In the initial stages, the disease can be easily confused with seasonal illnesses or influenza. However, it is important to look out for persistent high fever, especially one that occurs all of a sudden, a severe headache with nausea and vomiting, seizures, stiffness in the neck, a peculiar sensitivity to light, losing appetite and thirst, skin rashes and so on. Alarmingly, the disease can also afflict babies and newborns. Look out for signs like high fever, constant crying, poor feeding, a soft bulging spot on the fontanel and stiffness in the neck and body.

Treatments

As soon as bacterial meningitis is detected, it is important to seek immediate treatment. If you have a critical illness medical insurance policy, there is practically no reason to worry. Remember, antibiotics will have to be administered at the earliest for effective control of the bacteria, which might otherwise cause death. In some cases hospitalization might also be required.

Risk Factors

Some risk factors that make you vulnerable to the disease include:

• Missing out Vaccinations in Childhood: In case your child or you have not completed the schedule of childhood vaccinations, you could be at risk to contract the disease.
• Being Young: Unfortunately, this is one of those illnesses that affect the young. In children, the age limit is 5 or below. In adults, it is 20.
• Being Pregnant: You are more at risk of contracting bacterial infections when you are pregnant. So, before starting a family, opting for a medical insurance policy that covers critical illnesses, becomes more important.
• Weak Immune System: A compromised immune system gets infected quickly. So, if your spleen has been removed, you happen to be suffering from kidney disorders or you are taking immunosuppressant medications, you are more susceptible to this infection.
• Living in Community Settings: Bacterial disease spreads easily through air and children staying in crèches, or those living in hostels or shared accommodation are more at risk.

It is always important to be vigilant about symptoms for early detection of serious ailments. Head to a doctor even if you have the slightest doubt.

Eat Healthy this Summer to Keep Mediclaim Insurance Costs Down

Tips on Eating Healthy During the Summer

Summer is knocking quite loudly by now, and brings with it a delicious array of seasonal fruits and vegetables. Summer is the season for unbearable heat and tempers, but also the time for the lovely mango, cooling juices and a variety of vegetables, such as cucumber, pumpkin, bottle gourd, etc. Enjoy good health this summer with these tips on healthy summer eating. And for added peace of mind, ensure that you renew your Mediclaim insurance policy on time.

Summer Eating Tips

1. Drink lots of fluids. The heat causes loss of water from the body through perspiration, and should be replaced frequently. Water is the best liquid to drink. You can also have unsweetened fruit juices or vegetable juices. Amla is a great summer fruit, with its nutritious and refreshing qualities. Make your juice more potent by adding tulsi seeds, which are a great cooling agent. Other good choices are buttermilk (or lassi), tender coconut water and home-made lemonade.
2. Avoid sodas and other sugary drinks. These add empty calories and can cause dehydration, leaving you more thirsty than before.
3. Have 6 small meals instead of 3 large ones. Your digestion will benefit from it, and you will feel more energized through the day with steady nourishment. This also means that you might not need to make any claims on your Mediclaim insurance
4. Eat salads lightly tossed with extra virgin olive oil. Cucumbers are a great summer vegetable. They are very light on the stomach and in calories. You can add any vegetables you like to the salad. Eat it cool for maximum enjoyment.
5. Bottle gourd, ash gourd, bitter gourd and ridged gourd are all summer vegetables. Bottle gourd is great for hydration, since it consists mostly of water, and helps regulate sodium. Ash gourd has vitamins B1 and B3, and potassium, and helps control blood pressure, digestion, blood sugar and renal function. Bitter gourd helps to increase immunity. Ridged gourd helps to purify the blood and regulate blood pressure. All of these gourds are great for digestion and help to keep acidity down. Pumpkin is another great vegetable for the summer, as it has potassium and fiber, and helps in digestion.
6. Have lean proteins such as fish, chicken, eggs and lean meat.
7. Include yogurt and other low-fat dairy products. Low fat dairy products are a great protein source and also give you much-needed calcium.
8. Avoid spicy or fried foods. These make your stomach work harder, and cause indigestion and lethargy. Also try to minimize salt intake. Salt increases your need for water.

Following a healthy diet during summer will keep illnesses and mediclaim insurance claims at bay. You can benefit in terms of higher coverage if you have continuous years of no claims on your policy.