We all want the very best in life. And when it comes to one’s family’s health, there is no question of compromise: one wants the best. But there is no such thing as the best plan; best is what works for you.
For instance, the plain vanilla health insurance plan with basic benefits is not necessarily inferior to the advanced or loaded plan. Buyers are, however, often made to buy the latter even when the basic plan can meet their needs. The advanced version, which goes by various names such as exclusive, gold, platinum, premium, has several additional benefits. For example, the sum insured (SI) could be allowed up to Rs 25 lakh or higher compared to Rs 3-5 lakh in the basic plan. Even claims for pre-existing diseases, typically allowed after 48 months, are considered only after 36 months. Some loaded versions include daily cash benefits and ambulance costs too. As advantegeous as the benefits are, they are hardly a requirement for people around 30 year of age or less; the basic plan is enough for them.
New plans are increasingly adding more benefits. Somesh Chandra, COO and CQO at Max Bupa says, “Insurance firms are offering an array of customer-centric features such as no capping of hospital accommodation; coverage for family under single policy; international cashless coverage; option to top up existing coverage and no co-payment, among many others.”
As needs are different and varied, looking for the ‘best’ health plan doesn’t hold good. Needs of young couples with no kids are different from that of middle-aged people with grown up children. Similarly, those nearing 60 have other requirements. As Bhaskar Jyoti Sarma, managing director and chief executive of SBI General Insurance, puts it, “The best plan for one person is not necessarily the best plan for the entire population. There is no “free size” when it comes to insurance buying.”
Diese Geschichte stammt aus der September 21, 2015-Ausgabe von Businessworld.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der September 21, 2015-Ausgabe von Businessworld.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Gauging Trumponomics For India
Despite some shortto mediumterm headwinds in trade and immigration, the broader Indo-US vision of counterbalancing China’s influence is expected to ensure continued cooperation under Trump 2.0
Reflections on Consciousness and Creation
Indian-American DEEPAK CHOPRA on the nature of the universe, the digital fabric of existence, and the power of a conscious mind
MORE TAKE TO DRIVING IN STYLE
High-end luxury vehicles are no longer part of a niche market, but a rapidly expanding segment of automobile sales, driven by changing consumer preferences, rising disposable incomes and better infrastructure
India's Growing Affinity for Swiss Watches: A Luxury on the Rise
NDIA'S ROBUST ECONOMIC growth, projected to exceed 6 per cent in 2024 and 2025, is fostering a rising demand for aspirational products. As disposable incomes increase, particularly among the expanding middle class, luxury goods such as Swiss-made watches are gaining popularity.
An ENRiching Outlook
KPMG's latest report shows energy CEOs being optimistic about the sector's outlook. ANISH DE, Global Head, ENRC, KPMG speaks to BW Businessworld's Arjun Yadav on what's driving this confidence
Paving the Path to a Sustainable Future
Salesforce's ESG journey has made an impact beyond the company. SUNYA NORMAN, SVP of ESG Strategy and Engagement at Salesforce, shares more on how the tech giant integrates sustainability into its core operations, supporting global goals while empowering employees
LEADERSHIP TRANSITION AT XIAOMI INDIA
Xiaomi India is experiencing a leadership evolution, beginning with Muralikrishnan B's departure as President by the end of 2024. This change underscores Xiaomi's shift towards nurturing local talent amidst dynamic global shifts. The story tracks key transitions from Manu Kumar Jain's leadership to Muralikrishnan B's impactful tenure, along with recent strategic hires, highlighting Xiaomi's alignment towards market adaptability and consumer focus
WEAVING SUSTAINABILITY
Once a modest home textile manufacturer, Jindal Worldwide has evolved into a vertically integrated textile powerhouse, spanning critical segments of the yarn and fabric value chain
FORCE FOR GOOD
FY24 saw capacity expansions for Century Enka in nylon and polyester segments, along with investments in modernisation, renewable energy, and safety initiatives
REIMAGINING TOMORROW
For V-Guard, tomorrow signifies progress, driven by today's actions, setting the foundation for future growth and value creation for all stakeholders