Glad to see you’re collaborating with Ditto, pretty ethical player in the insurance industry, they also let users understand and compare their own health insurance policy on the website, really good feature. Glad to see you using the correct parameters for choosing a sponsor unlike other financial influencers who don’t conduct any research before choosing a sponsor.
Thank you Surender ji, glad to see your views mirror mine. I receive 4 to 5 sponsorship enquiries a month but I've kept away from most. Yes, the cashflows are a bit strained as it costs me more (editing & production costs) than what I make from TH-cam advertising but I am clear on how I want to partner. I found the folks at Ditto very sorted & my own experience in health insurance helped me make up my mind on this.
Ditto is not as ethical it claims to be. Took car insurance from them and they lied about pick up and 50km distance from accident site to home. On the website there is no mention of this. Just fooling customers
Thank you Sayed Alam. My TH-cam channel finished 6 months yesterday, so I'm now entering the next phase of my progression which'll involve a) building a team and b) monetization
Your videos are always very well researched and data rich. Your way of explaining the things is also very friendly. I feel enriched after watching every video made by you. Keep up the good work. Thanks a lot...
Thank you so much, Shankar! 👍🏻 Eye-opening message..... vindicating my decision taken 7 yrs back to go for personal health insurance with higher cover.
Thank you so much for this video. I found it the best among all the videos I saw on health insurance. I already have a health insurance for my family which was purchased in 2013 and renewed every year. I have realised that the insurance is not up to the mark. However, since my husband is already 47, wondering what the options are? Does it make sense to port the policy or simply buy a new one?
Most welcome. You should talk to the folks at Ditto to figure this out. There is no general rule because it starts with the policy you have, options available, additional requirements etc. Requires some work
Thank you shankarji- as always the best content, This time watched with my wife and post the video wife did a quick check on our policy. All points marked Ticked. You got a new name now- Shakar Baba in my home.
Thank you, Shri Shankar Nath ji, for such an informational video. I am so convinced by your style of communication that I wish to meet you one day and shake hands with you. 😊 आपको मेरा साधूवाद प्रणाम। 🙏 💐
Dear sir, thank you for this video one question can all medical insurance cover life long or is there any limit that we can renew policy upto certain age exaample 70 years etc? I am looking to purchase policy for me and my wife for whole life medical cover thank you again
Most welcome. I can't comment on every policy but most retail health insurance plans (mediclaim/comprehensive) comes with lifetime renewability. Nevertheless it's advisable for you to check the plan brochure before concluding the sale However, pls note: group health insurance policies (like ones offered by your company) are not lifelong and will lapse for you if you quit the company or if the company withdraws the benefits
Hi. It's not easy to make a comparison on health plans without knowing the requirements, medical condition, age etc. Only once these specifics are available, can a list of 3, 4 plans we made .. and then the comparison starts. I think that's where aggregators like Ditto come in who have mapped out the features, pros & cons on hundreds of health insurance schemes and can filter the universe to a few comparable schemes.
I am having health insurance since 2019. My sum insurance is 5 lac rs. I pay almost 8k rs yearly till last year. But now during policy renewal my premium is 12111 for basic plan. Why sudden change is not understanding? Also to avail no claim bonus my premium increases. Then how it's beneficial to me?
The timing of this video could not have been better. I was reevaluating my existing cover and got some things to look out for. One question, how would one go for super top ups since most have a deductible. If the base policy SI is equal to or close to the deductible, will the super top up kick in? Or does the deductible always have to be paid outside of the insurance policy?
Hello Anup. I too need to do a review next year as I'll be turning 44 and most health insurers change the age-band at 45. With re: your question - Yes, the popular process is to have a comprehensive policy of X amount and then a super-top of Y with X being the deductible. You can read more about super-top up policies and how it works on the internet but one advice (which I have also not followed and will be a part of my review next year) -- try to have the comprehensive policy or super-top up from the same company as it makes claim co-ordination easier. So if your claim is 20 lakhs and if the comprehensive (5 lakhs) and super-top up (say, 50 lakhs with 5 lakh deductible) is with the same insurer, then the insurer or the TPA can figure out which expenses will work go from where. If this was two different companies then the hassles (for you) will be higher. Hope this helps.
Thanks @@shankarnath ji ,that was helpful. I'm currently having an HDFC Ergo Optima Restore policy and their super top is limited to 20lakhs so I think I'll have to explore options outside. Also their premium for optima restore increased 40% in the second year (due to the number of COVID claims according to the company). Is it normal for such an increase? I was hoping that the premium would be age slab based but haven't found it to be so. May I ask which insurer are you with that provides fixed age slab based premiums?
Yes, health insurers do change premiums every 4-5 years on account of medical inflation. It's common but they need IRDAI's approval before effecting the change. My own insurer (Care Insurance) has updated it's premium upwards.
Does any policy provide above 90 days post hospitalization. My father has suffered a paralysis attack and he needs physiotherepy for long time. Kindly suggest
Hello Yogesh ji - Yes, a few policies offer upto 180 days of post-hospitalization expense reimbursement. You can connect with the folks at Ditto for specifics. Sorry to hear about your father, hope he recovers soon & well.
Dear sir, is that true after age of 65 one has to add madatory dependent like son or daughter in the current health policy , i have spoken to one insurance company and they said its mandatory before renewal at my age of 65? Thank you
I have a doubt! for example, if I have a policy of 10lakh cover for 15 year period and I exhausted all 10lakh in the first 5 years what will happen? Should I have to pay a premium for the rest of the 10 years?
Hi. It's a max limit of 10 lakhs per year. So say you exhaust all 10 lakhs in a year, then when you renew your health policy .. the 10 lakh coverage is back.
Hi sir, you had made a similar video and asked to connect with you via email if help is needed for insurance. Unfortunately there was no response for query. Wish things are close looped than one sided
Could you please advise on several hospitals insisting on depositing a substantial amoum of money before release of patient , till the final bill is settled by the insurance company. And general experience is that the hospital will never call you to return the money even after receiving payment from the insurance company .Patient party will have to call regularly to get an update . So its never cashless in reality.
My parents have been to the hospital a few times now - 7 times in the last 5 years. They've had 3 different types of surgeries. On a couple of occasions (2 out 7 times) we had to deposit substantial money i.e. beyond the customary 10,000 rupees the hospitals take initially. I recall in one case, the hospital was not within the cashless network of the insurer and in the other case, some part of the procedure (about 40% of the expense) was not covered by the policy. But in other 5 occasions, things were a lot smooth. Infact, I remember going to the counter on three occasions and I didn't have to pay a single penny & the hospital simply returned back that initial 10,000 rupees after deducting some 550 rupees as hospital registration charges. There was one time where the hospital asked me for the NEFT details to send back the excess money. Surprisingly, I didn't have to follow-up, the money hit my account the next day morning. Ofcourse, this depends from hospital to hospital and I'm sure there can be some gaps as this is a non-standard step in the chain. So it wont be right to generalize the experience but as my learnings, I found that it really helps to : a) go to a hospital which has cashless service and a dedicated TPA counter (and talk nicely with the folks there, it helps) b) get the approval from the TPA or health insurer before surgery day c) get clarity from the doctor's assistant and TPA on how much will be paid by the insurer and how much is out of pocket (on 6 out of 7 occasions the estimates they gave me were spot-on) d) be patient post the surgery as the TPA will take 5-6 hours to process the claim (although they say 2-3 hours)
14:02 totally disagree fir opting co_payment. You can save upto 20 to 30% premium if you opt for 20% co pay. Suppose your premium is 10k and you got a discount of 2k for 10L policy. And in case of hospitalisation, you got a bill of 5 Lakhs, you have to pay 1 lakh out of pocket. After 50 years of policy renewal, you'll be on break even
One thing i do not find right is these insurance companies do not conduct medical check up before they give health insurance. If this happens then both the parties (insurer and insured) will be clear and confident during the claim process. Otherwise it feels like health insurance is a useless product, with the control in the hand of insurance companies, to whether settle the claim or reject it outright. Is there any health insurance company that does a health check up and can be trusted.
which insurance is helpful for the common indian middle age of 35 to cover his family with 6 members? dont tell ditto to consult. no clear cut option there. comparisons only shown and some cover extra some or less
Sir it will be my good luck to know which company you chosse for your health cover and super top If i know company it would be beneficial for me Because we trust you so much rather than i have to do my own research to find the appropriate company if you choose company of good helath insurance company my trust is this company also So plz provide only one health company name and no diplomatic answer please ????? @shankar nath
Hello AP, I have policies which were bought many years back and fortunately, I never had to use them. I have a comprehensive policy from Care (it was called Religare then) and a super top-up from ICICI Lombard. Since many years have gone by, I never and would not advice you to copy-paste my preference. I am due a review myself next year so please do your own research or use the services of companies like Ditto.
👉 Schedule a free 30-minute consultation with insurance experts at Ditto: ditto.sh/0bxlo5
Nice
This video dropped right at the time when I was thinking to buy health insurance. Thank a lot.
Most welcome, Abhishek ji. Glad you found it useful
Glad to see you’re collaborating with Ditto, pretty ethical player in the insurance industry, they also let users understand and compare their own health insurance policy on the website, really good feature.
Glad to see you using the correct parameters for choosing a sponsor unlike other financial influencers who don’t conduct any research before choosing a sponsor.
They are backed by Zerodha. So trust just comes naturally from there.
Thank you Surender ji, glad to see your views mirror mine. I receive 4 to 5 sponsorship enquiries a month but I've kept away from most. Yes, the cashflows are a bit strained as it costs me more (editing & production costs) than what I make from TH-cam advertising but I am clear on how I want to partner. I found the folks at Ditto very sorted & my own experience in health insurance helped me make up my mind on this.
Sir your explanation is simply amazing.
Ditto is not as ethical it claims to be. Took car insurance from them and they lied about pick up and 50km distance from accident site to home. On the website there is no mention of this. Just fooling customers
Glad to see Shankar got sponsorship from a trusted insurance company. ❤
Thank you Sayed Alam. My TH-cam channel finished 6 months yesterday, so I'm now entering the next phase of my progression which'll involve a) building a team and b) monetization
Your videos are always very well researched and data rich. Your way of explaining the things is also very friendly. I feel enriched after watching every video made by you. Keep up the good work. Thanks a lot...
It's my pleasure 🙌
Thank you so much, Shankar! 👍🏻
Eye-opening message..... vindicating my decision taken 7 yrs back to go for personal health insurance with higher cover.
Wonderful to hear that and thank you for your kind appreciation
Most informative video on health insurance - a must watch! Thanks a ton!
Most welcome 🤗
Brilliant explanation! Thanks brother 🙏
Most welcome
Excellently explained Sir.
Most of the queries have been cleared.
Thanks a lot.
-Pramod
Thank you so much for this video. I found it the best among all the videos I saw on health insurance.
I already have a health insurance for my family which was purchased in 2013 and renewed every year.
I have realised that the insurance is not up to the mark.
However, since my husband is already 47, wondering what the options are? Does it make sense to port the policy or simply buy a new one?
Most welcome. You should talk to the folks at Ditto to figure this out. There is no general rule because it starts with the policy you have, options available, additional requirements etc. Requires some work
Thank you shankarji- as always the best content,
This time watched with my wife and post the video wife did a quick check on our policy.
All points marked Ticked.
You got a new name now- Shakar Baba in my home.
Shankar ji your videos are really knowledgeable . I like all your videos.
Thank you very much Subrahmanyam, :) .. Glad you like them!
Thank you so much. This was extremely insightful!
Most welcome 🙌
A well researched and written video with insightful information.
Congratulations for sponsorship 🎉
Thank you Narendra
Thank you, Shri Shankar Nath ji, for such an informational video. I am so convinced by your style of communication that I wish to meet you one day and shake hands with you. 😊
आपको मेरा साधूवाद प्रणाम। 🙏 💐
Thank you Suraj ji. I'll certainly have a meetup sometime this year, tab milte hain
Very very informative, thankyou !
You are most welcome!
Thank you sir for this insightful video!
So nice of you. Glad it was helpful!
Thanks, eye opener
My pleasure!
Very informative!
Glad it was helpful!
Very Helpful Video❤️
Glad you think so!
Insightfull💯
Thank you Mayank
Thanks for considering my recommendation
Most welcome
Dear sir, thank you for this video one question can all medical insurance cover life long or is there any limit that we can renew policy upto certain age exaample 70 years etc? I am looking to purchase policy for me and my wife for whole life medical cover thank you again
Most welcome. I can't comment on every policy but most retail health insurance plans (mediclaim/comprehensive) comes with lifetime renewability. Nevertheless it's advisable for you to check the plan brochure before concluding the sale
However, pls note: group health insurance policies (like ones offered by your company) are not lifelong and will lapse for you if you quit the company or if the company withdraws the benefits
@@shankarnath Thank you so much
It would also be great if you could compare and analyze health plans from different companies.
Hi. It's not easy to make a comparison on health plans without knowing the requirements, medical condition, age etc. Only once these specifics are available, can a list of 3, 4 plans we made .. and then the comparison starts. I think that's where aggregators like Ditto come in who have mapped out the features, pros & cons on hundreds of health insurance schemes and can filter the universe to a few comparable schemes.
which health insurance to buy to cover parents - niva bupa giving the floater plan at 41k
I am having health insurance since 2019. My sum insurance is 5 lac rs. I pay almost 8k rs yearly till last year. But now during policy renewal my premium is 12111 for basic plan. Why sudden change is not understanding? Also to avail no claim bonus my premium increases. Then how it's beneficial to me?
The timing of this video could not have been better. I was reevaluating my existing cover and got some things to look out for. One question, how would one go for super top ups since most have a deductible. If the base policy SI is equal to or close to the deductible, will the super top up kick in? Or does the deductible always have to be paid outside of the insurance policy?
Hello Anup. I too need to do a review next year as I'll be turning 44 and most health insurers change the age-band at 45. With re: your question - Yes, the popular process is to have a comprehensive policy of X amount and then a super-top of Y with X being the deductible. You can read more about super-top up policies and how it works on the internet but one advice (which I have also not followed and will be a part of my review next year) -- try to have the comprehensive policy or super-top up from the same company as it makes claim co-ordination easier. So if your claim is 20 lakhs and if the comprehensive (5 lakhs) and super-top up (say, 50 lakhs with 5 lakh deductible) is with the same insurer, then the insurer or the TPA can figure out which expenses will work go from where. If this was two different companies then the hassles (for you) will be higher. Hope this helps.
Thanks @@shankarnath ji ,that was helpful. I'm currently having an HDFC Ergo Optima Restore policy and their super top is limited to 20lakhs so I think I'll have to explore options outside. Also their premium for optima restore increased 40% in the second year (due to the number of COVID claims according to the company). Is it normal for such an increase? I was hoping that the premium would be age slab based but haven't found it to be so. May I ask which insurer are you with that provides fixed age slab based premiums?
Yes, health insurers do change premiums every 4-5 years on account of medical inflation. It's common but they need IRDAI's approval before effecting the change. My own insurer (Care Insurance) has updated it's premium upwards.
I have bought icici health advantage so it is good or there can be better option
Hello Ajay, pls check that with the folks at Ditto over a free consultation. Kindly keep your major requirements handy.
Hi Shankar, Do you recommend paying a premium for 1 year or 3 years?
Hi, I can share my experience. I am paying 3 years together for both my health insurance plans but I don't have a scientific basis for it.
just wow,
Does any policy provide above 90 days post hospitalization. My father has suffered a paralysis attack and he needs physiotherepy for long time. Kindly suggest
HDFC ERGO provides 180 days post hospitalisation cover but I am sorry, the company wont accept proposal of your father
Hello Yogesh ji - Yes, a few policies offer upto 180 days of post-hospitalization expense reimbursement. You can connect with the folks at Ditto for specifics. Sorry to hear about your father, hope he recovers soon & well.
Which health insurance do you have?
Is acko insurance good?
They do not have waiting period
Pls connect with a service like Ditto, Beshak or Policybazaar for a detailed comparison
Sir which policy did you buy for yourself and your family?
I have a base policy from Care Insurance and a super top-up from ICICI Lombard. Total sum insured is 60 lakhs.
❤
Dear sir, is that true after age of 65 one has to add madatory dependent like son or daughter in the current health policy , i have spoken to one insurance company and they said its mandatory before renewal at my age of 65? Thank you
Sorry. I'm not aware of this. IRDAI comes with new rules, maybe there is something to this effect now. But I've no idea of this
I have a doubt! for example, if I have a policy of 10lakh cover for 15 year period and I exhausted all 10lakh in the first 5 years what will happen? Should I have to pay a premium for the rest of the 10 years?
Hi. It's a max limit of 10 lakhs per year. So say you exhaust all 10 lakhs in a year, then when you renew your health policy .. the 10 lakh coverage is back.
@@shankarnath oh like recharging the plan. Make sense now. Thanks 🙏🏼
Hi sir, you had made a similar video and asked to connect with you via email if help is needed for insurance.
Unfortunately there was no response for query.
Wish things are close looped than one sided
Hello Venky, I am not finding the email in my inbox. Can you please resend it at hello@beginnersbuck.com
Could you please advise on several hospitals insisting on depositing a substantial amoum of money before release of patient , till the final bill is settled by the insurance company. And general experience is that the hospital will never call you to return the money even after receiving payment from the insurance company .Patient party will have to call regularly to get an update . So its never cashless in reality.
My parents have been to the hospital a few times now - 7 times in the last 5 years. They've had 3 different types of surgeries.
On a couple of occasions (2 out 7 times) we had to deposit substantial money i.e. beyond the customary 10,000 rupees the hospitals take initially. I recall in one case, the hospital was not within the cashless network of the insurer and in the other case, some part of the procedure (about 40% of the expense) was not covered by the policy.
But in other 5 occasions, things were a lot smooth. Infact, I remember going to the counter on three occasions and I didn't have to pay a single penny & the hospital simply returned back that initial 10,000 rupees after deducting some 550 rupees as hospital registration charges.
There was one time where the hospital asked me for the NEFT details to send back the excess money. Surprisingly, I didn't have to follow-up, the money hit my account the next day morning. Ofcourse, this depends from hospital to hospital and I'm sure there can be some gaps as this is a non-standard step in the chain.
So it wont be right to generalize the experience but as my learnings, I found that it really helps to :
a) go to a hospital which has cashless service and a dedicated TPA counter (and talk nicely with the folks there, it helps)
b) get the approval from the TPA or health insurer before surgery day
c) get clarity from the doctor's assistant and TPA on how much will be paid by the insurer and how much is out of pocket (on 6 out of 7 occasions the estimates they gave me were spot-on)
d) be patient post the surgery as the TPA will take 5-6 hours to process the claim (although they say 2-3 hours)
14:02 totally disagree fir opting co_payment. You can save upto 20 to 30% premium if you opt for 20% co pay. Suppose your premium is 10k and you got a discount of 2k for 10L policy. And in case of hospitalisation, you got a bill of 5 Lakhs, you have to pay 1 lakh out of pocket. After 50 years of policy renewal, you'll be on break even
One thing i do not find right is these insurance companies do not conduct medical check up before they give health insurance. If this happens then both the parties (insurer and insured) will be clear and confident during the claim process. Otherwise it feels like health insurance is a useless product, with the control in the hand of insurance companies, to whether settle the claim or reject it outright. Is there any health insurance company that does a health check up and can be trusted.
which insurance is helpful for the common indian middle age of 35 to cover his family with 6 members? dont tell ditto to consult. no clear cut option there. comparisons only shown and some cover extra some or less
Sir it will be my good luck to know which company you chosse for your health cover and super top
If i know company it would be beneficial for me
Because we trust you so much rather than i have to do my own research to find the appropriate company if you choose company of good helath insurance company my trust is this company also
So plz provide only one health company name and no diplomatic answer please ????? @shankar nath
Hello AP, I have policies which were bought many years back and fortunately, I never had to use them. I have a comprehensive policy from Care (it was called Religare then) and a super top-up from ICICI Lombard. Since many years have gone by, I never and would not advice you to copy-paste my preference. I am due a review myself next year so please do your own research or use the services of companies like Ditto.