Damage control

News posted by www.newsinfoline.com

Money may not buy you love but it sure does buy you and your family great health plans. Let's face it, if you don't get your health insured your hospital bills may shock you to death. Along with our economy what's growing is the cost of medical facilities. So while you are getting your life together and making sure your post-retirement life will be comfortable, take one more step and invest in your health.For if you don't, you may not live to reap the benefits of your retirement preparations. Sounds harsh? Well it's good as long as you don't have to face these rough realities. With most women working as well as taking care of home, it makes them doubly vulnerable to health risks.This month, health insurance expert, Antony Jacob, CEO, Apollo Munich Insurance talks about the right way to invest in your health while three women, Director Investments, Altamount Capital, Richa Karpe; Netway India CEO Meena Kapoor and Business Director, Aviva Life Insurance, Monica Agarwal talk about how and why they have secured their family's health.Health insurance is a necessity for women today as lifestyle changes have increased the health related risk factors. Take Richa Karpe, 34, who realised that, her health was her last priority. What she looked for was a comprehensive plan that covered medical expenses for her family of five.Most importantly, she wanted a company with good customer service. This led her to asking friends and family about the kind of plans that would suit her and her family's needs. "It is very essential for you to understand the plan and then invest. And it's always a plus if the company has a tie-up with a hospital near you," she says. Not only do these plans save time by cutting out the third party but also make the process cashless and fluid in cases of emergency. Commenting on the general attitude where medical insurance is concerned she says, "We are not confident paying money for anything without immediate returns. What we don't realise is that it pays off in the long run. Particularly for women who play multiple roles, their own self tends to take a backseat."Considering the various roles a woman moulds herself into, Meena Kapoor, 45, says that mediclaim becomes an even bigger necessity. With a mother who suffered from breast cancer, Kapoor always understood how expensive health care is and how important it is to have a financial support system which makes the ordeal a little less worrisome.For her the ease of usage a plan provided was of utmost importance. Understanding how important her role in the family is, she did not sit back and relax about this investment. Her advice is to start investing early. Parents should invest in their children from the time they enter college as she has done for her 22-year-old daughter Akanksha and her 20-year-old son Aditya. Not only does this make life easier but also gives an understanding of health risks from an early age. "Most Indians have a lack of foresight when it comes to health. Waiting for a calamity berfore you invest is just fatalism," she says. To make it more accessible, she thinks educating people about this form of investment is imperative.Education about insurance is something most of us are not exposed to till a later stage in life. Monica Agarwal, 39, agrees and adds, "It's not until you have children that you realise the importance of your own health. As your roles increase in life you understand that in order to lead from all fronts you need to be at peace. Being prepared for ilnesses is important." She thinks that one should periodically estimate the illnesses and work backwards to the premium, based on the age. It might be difficult to predict what diseases you will be hit with but an estimate can be charted out as there are certain common health risks everybody faces.As this benefit is largely accessible to people in the metros, she believes that there needs to be a 360 degree approach in this regard. At the same time, she also understands that things are changing for the better as the number of people realising the need to insure their health is increasing. Jacob says that the health insurance industry is currently worth Rs 9,000 crore per annum and has been growing at 25 per cent for the past five years.He talks to us about a few things to keep in mind while choosing a good health plan. Firstly, you must look for a plan that provides cover for hospitalisation. Secondly, look for a flexible plan that will give you enough room for covering emergencies without too much hassle. Thirdly, make sure your plan covers all the critical illnesses that are listed. Treating diseases such as cancer and heart diseases are very expensive. These illnesses exhaust you and dip into your savings. Getting a good cover for them is a must. Apart from these common medical needs, women have a set of their own. One such is maternity. There are companies that provide plans which cover your expenses for the entire process of maternity. But the investment for this cover must be done before conception.Look for a company that has a tie-up with a hospital. The procedure becomes a lot less tiring that way. Also, there are hospitals that provide mediclaim. Though it is a recent phenomenon, these plans are also good as you will be more comfortable investing in a hospital you regularly visit.It may be true that women have a million issues to be stressed about. But it's essential to put oneself first. Think of it as one worry less on your checklist of things to do.5 Things to remember1. Start early. It'll be cheaper and have lower risk which in turn gives you a better deal.2. Understand your plan. Do not invest unless you are thoroughly sure where your money is going.3. It's wise to get yourself a maternity plan before you conceive.4. Going for a comprehensive plan where the entire family is covered is the best thing to do.5. Do not choose complicated plans that delay your claim.Reproduced From India Today. All rights reserved.

News posted by www.newsinfoline.com

Click here to read more news from www.newsinfoline.com
Please follow our blogs

newsinfolinephotogallery
prabugallery
newsinfolinephotogallery1

photogallery1