Star Health Insurance Advisor

Mr. Nilesh Kambli, Chief Financial Officer at Star Health and Allied Insurance Co. Ltd, was honored with the 'Leading CFO of the Year' title at the 3rd edition of the CII CFO Excellence Awards in Bengaluru. This prestigious recognition celebrates his exceptional financial leadership in the BFSI sector.

Health Insurance is Mandatory

With our experience of now handling health claims for last multiple years. Here are some suggestions which I feel are important for every client to look at before buying a policy. If you need information feel free to connect with my team:

1. Don't just hunt for the cheapest policy. I am sure you will agree, there is nothing free in life. If it is cheap, there might be something you're not aware.

2. 80% of the claims gets settled without any issues, but 20% of the claims, if it gets stuck or rejected, you need a health consultant, who understands it technically, and helps you represent the case.

3. 90% of our customers have connected with us, when they or their family member got hospitalised and they had to use their health insurance, you want your health consultant to promptly respond and be there with you at the time of the hospitalisation.

4. With the ever escalating hospitalisation cost,the minimum Health cover every family should have is 25 Lakhs, the more the better. One instance of hospitalisation for a serious and critical illness without a proper health insurance, can push the family towards bankruptcy. If you have the cashflow buy health insurance directly for a 25 lakhs and more (Base cover), if you're on budget, go for 5 Lakhs of base policy and 20 Lakhs of top up. This will work out slightly cheaper as compared to the first option.

5. If you're opting for top up, try to keep your base policy and the top up on the same date.

6. There are variety of policies that suits different age groups and different health conditions. Do your research to understand what are the options and which is the best policy as per your age and condition. Buying just for the sake, or just shopping for the cheapest, may not be the right way to pick a policy.

7. Stop saying no to buying a personal health insurance because you have a corporate policy. First off, the cover offered is 2 lakhs, 3 lakhs or maybe 5 lakhs, this is a very low cover. Second, you may not get a personal policy once you get older because of the health condition, which runs you the risk of being without any health cover after you retire.

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