Health Insurance for the family - Need pointers/suggestions/advice.

[medpal]

@OP : if you are younger than 30 you should consider 1000/- as 1 lac cover general idea. you get 10% family discount and then add 10.1 % service tax.

i am paying 134xx Rs. for my coverage of 11 lac for 3 family members.

 

[RKitect]

This info about deductions applicable only to premiums paid by cheque is new to me. ICICI Lombard site does not mention anything specific regarding this. It just mentions that premiums are applicable for IT rebate. Guess I should go through the finer points. Is it applicable only for mediclaim policies? 'Coz my LIC payments are done online and there are no problems in IT rebates.

Anyway, what do you think would be a good coverage amount. Some of you have already mentioned that 3 lacs for Family cover is too less.
Also, any other disadvantages for the Family floater plan..? I would like to be absolutely sure of what I am going to apply for.

^ oh, thanks. didnt know that deduction thing is eligible for check payments only.

U can check this link
80D Deductions In India: Eligible instruments for 80D income tax deduction in India - iTrust

It states that it premium must not be paid in cash. I guess then online payment is allowed. I had read somewhere that payment must be by cheque only. I guess that time there was no option of online payment.

Confirmed by this link. Premium must be paid by any mode (Cheque, Credit Card, Online) except cash.
Deduction u/s 80D Mediclaim (Medical Insurance Premia) ? Tax India