Is it true that PSU’s offer the lowest rates for Mediclaim?
For a specific age one Insurance company may be lower and for some other age another one may be lower. The best way is that you calculate the premium payable on the basis of all family members. From the following comparison you will notice that Royal Sundaram is economical for this family versus other companies.
Comparison of Different Insurance Companies rates for Mediclaim – each member covered for Rs. 1,00,000
| Inclusive of Service tax | Rs. | ||
| Age | Royal Sundaram | Bajaj Allianz | PSU’s |
| 52 | 2731 | 3135 | 2289 |
| 47 | 2275 | 2090 | 2289 |
| 22 | 958 | 1408 | 1470 |
| 16 | 958 | 1408 | 1470 |
| Total | 6922 | 8041 | 7518 |
| Less Family discount | 692 | 804 | 752 |
| Premium Payable | 6230 | 7957 | 6766 |
It is generally noticed that premium variation is in the range of 4% with the exception of ICICI Lombard where the premium for the product offering floater benefit is higher. This is because this product is presented as a premium product based on Better service,
- Medical examination cost of all that are to be insured is to be done at nominated clinic at company cost. Those who are going in for this product need not go in for routine medical tests at their own cost.