Public Sector or Private Player- Which Health Insurance Company to Choose ?
A mighty question of reliability.
Lots of people in India dont trust Private companies. Because of so many instances, where mis-selling has been done by sales representatives of credit cards , bank accounts or UlIps from private companies. after ten years of mis selling , now we see advertisements, where agents community has been portrayed as “Bad guys”. Private companies have suddenly become clean.
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Learn from experience.
Long time back , Mobile companies started with bog size mobile. Then, they advertise the concept of small chick mobiles…so many million mobiles were sold………….. They taught their customers benefits fo small mobiles….
Same mobile companies (for their own benefit) are launching big smartphones……..Now , Bigger is better..
This is how market is driven….
Public or Private sector divide is same…
Private companies try to launch new tricks to lure customers. New flashy products and blah blah…..
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Basic product of all companies remains same.
1. 30 days waiting periods is common in all insurance companies in India . (Except Max Bupa)
2. Two year standard exclusion is common in all insurance companies in India . (Except Max Bupa)
3. Waiting period for Pre existing diseases is 4 year in all insurance companies in India (Except Apollo Munich)
There is no difference in basic structure of Private sector or public sector companies.
How can we compare Private sector or public sector companies ?
There are very small differences.
1. Room rent limit
2. Co pay in certain sum insured or illnesses or packages.
3. Claim based loading or not.
4. No claim discount or bonus.
Who is more reliable ?
Reliability of a company hardly matters ,whether Private sector or public sector companies.
What matters is the knowledge and ethics of the Insurance advisor.
Always follow a process to decide the health insurance company.