How to determine correct medical insurance amount

POSTED BY Dipesh ON August 30, 2013 3:33 pm COMMENTS (3)

Hi All,

I want to know the best possible way to calculate total health coverage I would require. My age is 29 my wife’s age 27 and mothers age 52. 

Should I go for family floater or single insurancefor each.

One more doubt If I opt for family floater policy how to much I can show for IT exemption under section 80D(which is max of 15K for self/spouse and 15K for parents)




3 replies on this article “How to determine correct medical insurance amount”

  1. Dear Dipesh, please cover yourself & mother from same insurer. If it’s Oriental, so be it.



  2. Dipesh says:

    Dear Ashal,
    Thanks a lot. For family floater while browsing through forums I felt oriental is good. Please let me know your views. Can you suggest some policy for my mother(she is already suffering from arthritis). I have good medical insurance from company as of now but need to insure on my own as can’t rely just on company’s policy.


  3. Dear Dipesh, please opt family floater for yourself & wife & purchase individual policy for your mother. The cover amount should be able to handle at least 2 major hospitalization for floater & 1 for your mother. As your mother’s age ‘ll increase here on wards, it’s advisable to purchase a large enough cover for her from day one. For family floater, you may opt with a lower cover as of now say 5L & keep on increasing it yly.

    As there ‘ll be 2 separate policies, you can easily claim section 80D benefit on both prem. paid by you. :



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