How good is oriental insurance for mediclaim?

M

MAGNeT

Forerunner
Well i have a group policy of my family.

Is via our religion trust.Last year it was with new india insurance and timely whatever requirement or need were satisfied.

This year they unknowingly transferred the insurance to oriental mediclaim.

From start have been facing problem right from card issuing to name change.And now i am hearing they are lot of case where claims are rejected genuinely or knowingly some reason or others are found to give lesser the amount being claim.Though i myself havent needed the stuff yet but a distress family have asked me to enquire.

I just wanted to know how good is the company track record and second are there any other company who provides mediclaim for 3 member family for atleast 2-3 lakh amount and charge lesser than 5k annually.Family senior most person age right now is 45 and have 2 daughter of 15-20 each.

Also any other companies which i should look for as in october the policy will lapse.
 
Can't say about Oriental Insurance but have been personally using IFFCO TOKIO for over 4 years and have had 2 claims, one cashless and one reimbursement. Have had no problems whatsoever till now. Plus IFFCO TOKIO in tie-up with Bajaj Finanacial provides the best maternity benefit in the industry, 10% of insured amount and only 9 month waiting period.
 
Thanks for the reply.I need more views.

Also any plan you can suggest about some company who has good track record in paying.
 
I've done a small amount of research for my parents and have found out that Bajaj Alliance and Star Health is the best.Even otherwise, Bajaj Alliance has been reviewed to be the best.

Try this site otherwise.could help you.

Online Insurance Quotes: Compare Car Insurance, Life Insurance & Health Insurance India
 
Last edited by a moderator:
raptor3624 said:
I've done a small amount of research for my parents and have found out that Bajaj Alliance and Star Health is the best.Even otherwise, Bajaj Alliance has been reviewed to be the best.

Try this site otherwise.could help you.

Online Insurance Quotes: Compare Car Insurance, Life Insurance & Health Insurance India
Click to expand...

Problem with this sites are they directly don't compare and show but take your info and sell their product which i find illogical.

Thats the reason i asked it here.
 
Last edited by a moderator:
MAGNeT said:
Thanks for the reply.I need more views.

Also any plan you can suggest about some company who has good track record in paying.
Click to expand...
The best track record is Tata AIG. I think there was an official release regarding that too. However, they are not the most cost effective
 
MAGNeT said:
Problem with this sites are they directly don't compare and show but take your info and sell their product which i find illogical.
Thats the reason i asked it here.
Click to expand...
I agree with you there.
 
I think you need to ascertain what exactly are you looking for in a health insurance cover. For a 3 member family, one can look into a floater but the issue with them is that you don't get any individual bonus and any claim eats into your overall covered value. Then there are issues of pre-exisitng disease coverage, policy inclusions & exclusions, Maternity benefit, waiting period till certain coverage starts, bonus amounts and caps, transfer of bonus etc. etc. This is where the competition is and not in the premium amount IMO as most of the insurers would charge similar premiums for a particular cover. Buying the right health insurance is no easy task as you don't wanna be stuck with an insurance which charges you less premium or has a good payout record (on paper) but doesn't serve your purpose when you need it the most. I would suggest try listing points which you would like your health insurance to cover and then get in touch with a couple of independent insurance agents and discuss. You should be able to get a pretty good idea of which product would suit you better.
 
agupta02 said:
I think you need to ascertain what exactly are you looking for in a health insurance cover. For a 3 member family, one can look into a floater but the issue with them is that you don't get any individual bonus and any claim eats into your overall covered value. Then there are issues of pre-exisitng disease coverage, policy inclusions & exclusions, Maternity benefit, waiting period till certain coverage starts, bonus amounts and caps, transfer of bonus etc. etc. This is where the competition is and not in the premium amount IMO as most of the insurers would charge similar premiums for a particular cover. Buying the right health insurance is no easy task as you don't wanna be stuck with an insurance which charges you less premium or has a good payout record (on paper) but doesn't serve your purpose when you need it the most. I would suggest try listing points which you would like your health insurance to cover and then get in touch with a couple of independent insurance agents and discuss. You should be able to get a pretty good idea of which product would suit you better.
Click to expand...
Well its not for my family.

Its a family of 3 members .One lady age 45-46 and her 2 daughters aged 21-22 and 17 respectively.The lady doesn't work her eldest daughter earns around 10-12k and i guess family gets something around 10-12k for a property which they have rented.

So in all family monthly income is say 22-25k monthly.

The lady had depression problem in past and have undergone treatment and havent got any mediclaim repayment(as obvious not cover in mediclaim).But at that time her husband was alive.Now the lady is worried that if she takes insurance and the company doesnt pay for the treatment of her daughters in serious cases say a bill of 1 -2 lakh than it wont be possible for her to repay.

Now the oriental mediclaim policy was with premium 3500 and cover upto 2 lakh floater.But now she said she has heard bad review about the company.Also this year a paper was issue with the mediclaim policy giving the approximate cost of treatment at max they would pay(I am not sure whether its government rule or of the company)which have added to her distress.

She said she is ready to pay more for a yearly policy but atleast she should be satisfied that company pays the money.Till last year she was having a reliance policy which did paid for treatment of her daughters in malaria and others and almost full amount as they are full aware about its documentation.But this year Reliance increased the premium upto 500% .

So bonus and all are secondary requirment.Family is not the one to fool to go to hospital .

So any good mediclaim upto 2 lakh per year cover with decent premium upto 3-5k with good track record.I dont think family would say no for health check up but it should be within their limit too .

So what i need is good other company option.

and

How good is oriental as i know new india is much better .
 
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