How to control Passive Smokers?

Should Health Insurance Premium be adjusted?

Sometimes you come across interesting facts in publications. Economics Times Wealth August 18-24, 2013 has carried the following information

56% is the difference between the premium of a smoker and a non-smoker for a life insurance policy. The question before us is:

 

If Life Insurance Industry penalizes a person by 56% then what is the figure for Health Insurance? Why not penalize family members / colleagues who are passive smokers and are being compelled to smoke? May be this will result in reduction of smokers in our country.

Read More

PSU Insurance Premium will always be lower – is it a Myth

Let us look at the following table:

Yes – most of us assume or believe that PSU Insurance Premium will always be lower – is it a truth or is it a myth? With entry of many insurance companies in last 12 years we find that this assumption is not valid.

Family Floater Mediclaim Policy (2+1 Adults)
Insurance Company	Apollo Munich	Religare	Oriental
Product Name	Optima	Care	Gold
Sum Insured (Rs.)	10 Lakhs	10 Lakhs	10 Lakhs
Age
41			14150
37			2830
8			2130
Net Premium	14258	15192	19110
Service Tax 12.36%	1762	1878	2362
Total Premium	16020	17070	21472

 

You will notice that for a family of 41, 37, & 8 with sum assured (family floater) of Rs.10 lakhs the premium is:

Company	Premium Amount (Rs.)	Higher than Apollo Munich by %
Apollo Munich	16020	-- --
Religare	17070	6.55%
Oriental	21472	34.03%

Therefore we come to the conclusion that one should consider various options before going in for selection of any insurance policy.

Read More