# Jupiter Select #4: Health Insurance 1o1 by Ruchir Kanakia **URL:** \ **Category:** Community Events\ **Created:** [8 January 2021 10:44 UTC](https://community.jupiter.money/t/jupiter-select-4-health-insurance-1o1-by-ruchir-kanakia/2077 "2021-01-08T10:44:31Z")\ **Posts on this page:** 10\ **Page:** 1
**Author:** ![Seher\_Mehta1](https://sea2.discourse-cdn.com/flex020/user_avatar/community.jupiter.money/seher_mehta1/32/912_2.png) [@Seher\_Mehta1](https://community.jupiter.money/u/Seher_Mehta1)\ **Post date:** [8 January 2021 10:44 UTC](https://community.jupiter.money/t/jupiter-select-4-health-insurance-1o1-by-ruchir-kanakia/2077/1 "2021-01-08T10:44:31Z")
**Topics Covered:** - [Layers of Financial Planning](https://community.jupiter.money/t/jupiter-select-4-health-insurance-masterclass-by-ruchir-kanakia-founder-oneassure/2077/2) - [What is insurance](https://community.jupiter.money/t/jupiter-select-4-health-insurance-masterclass-by-ruchir-kanakia-founder-oneassure/2077/3) - [Types of Health Insurance: Indemnity & Fixed Benefit Plan](https://community.jupiter.money/t/jupiter-select-4-health-insurance-masterclass-by-ruchir-kanakia-founder-oneassure/2077/4) - [InPatient, Pre and Post Hospitalisation](https://community.jupiter.money/t/jupiter-select-4-health-insurance-masterclass-by-ruchir-kanakia-founder-oneassure/2077/5) - [Must-knows before choosing a Health Insurance Plan ✅](https://community.jupiter.money/t/jupiter-select-4-health-insurance-masterclass-by-ruchir-kanakia-founder-oneassure/2077/6) - [Eligibility, Exclusion & Variables](https://community.jupiter.money/t/jupiter-select-4-health-insurance-1o1-by-ruchir-kanakia/2077/7) - [Tax Benefits](https://community.jupiter.money/t/jupiter-select-4-health-insurance-1o1-by-ruchir-kanakia/2077/8) - [Decision Tree](https://community.jupiter.money/t/jupiter-select-4-health-insurance-masterclass-by-ruchir-kanakia-founder-oneassure/2077/9) ![image](https://us1.discourse-cdn.com/flex020/uploads/jupiter/original/2X/1/1a23b3af64d9a5d61c9dec2da74ffa6dde96f4d0.png) ---
**Author:** ![Seher\_Mehta1](https://sea2.discourse-cdn.com/flex020/user_avatar/community.jupiter.money/seher_mehta1/32/912_2.png) [@Seher\_Mehta1](https://community.jupiter.money/u/Seher_Mehta1)\ **Post date:** [8 January 2021 10:50 UTC](https://community.jupiter.money/t/jupiter-select-4-health-insurance-1o1-by-ruchir-kanakia/2077/2 "2021-01-08T10:50:44Z")
Financial planning has the following 2 layers. People in the early years of career focus on putting salary savings into investment schemes and seldom focus on Insurance. ![image](https://us1.discourse-cdn.com/flex020/uploads/jupiter/original/2X/3/3b680247e4a240204fbe166b53bc31b71b6e7460.png) > 2 Tips: > > - Don’t have your personal health tied up to your employer (read: corporate insurance). > - Start Early: Best time to buy insurance is when you’re healthy. Insurance comes very cheap in the early 20s ---
**Author:** ![Seher\_Mehta1](https://sea2.discourse-cdn.com/flex020/user_avatar/community.jupiter.money/seher_mehta1/32/912_2.png) [@Seher\_Mehta1](https://community.jupiter.money/u/Seher_Mehta1)\ **Post date:** [8 January 2021 10:53 UTC](https://community.jupiter.money/t/jupiter-select-4-health-insurance-1o1-by-ruchir-kanakia/2077/3 "2021-01-08T10:53:21Z")
![image](https://us1.discourse-cdn.com/flex020/uploads/jupiter/original/2X/d/d66d3a73f786cd6b2ad98558676e768772a53757.png) ---
**Author:** ![Seher\_Mehta1](https://sea2.discourse-cdn.com/flex020/user_avatar/community.jupiter.money/seher_mehta1/32/912_2.png) [@Seher\_Mehta1](https://community.jupiter.money/u/Seher_Mehta1)\ **Post date:** [8 January 2021 10:55 UTC](https://community.jupiter.money/t/jupiter-select-4-health-insurance-1o1-by-ruchir-kanakia/2077/4 "2021-01-08T10:55:12Z")
Lets say the medical expenditure was Rs 3 Lakhs. 1. Indemnity Plan: Insurance is of 5L but it will cover only the cost i.e. 3L 2. Fixed Benefit Plan: Will wire full amount and close the policy irrespective of the expenditure. ![image](https://us1.discourse-cdn.com/flex020/uploads/jupiter/original/2X/3/3999cb675d9ebf0056df773bc9de93f8f4950f63.png) ---
**Author:** ![Seher\_Mehta1](https://sea2.discourse-cdn.com/flex020/user_avatar/community.jupiter.money/seher_mehta1/32/912_2.png) [@Seher\_Mehta1](https://community.jupiter.money/u/Seher_Mehta1)\ **Post date:** [8 January 2021 10:57 UTC](https://community.jupiter.money/t/jupiter-select-4-health-insurance-1o1-by-ruchir-kanakia/2077/5 "2021-01-08T10:57:30Z")
- Pre- Hos: Any costs incurred due to the disease **30 days** before hospital admission. For example, Lab tests run to diagnose the disease. **PS:** No reimbursement in case the person is not admitted to the hospital. - Post-Hos: Any costs incurred due to the disease in the **60 days** post-discharge from hospital. For e.g.: Medical Assistant deployed for Bed rest at home. ---
**Author:** ![Seher\_Mehta1](https://sea2.discourse-cdn.com/flex020/user_avatar/community.jupiter.money/seher_mehta1/32/912_2.png) [@Seher\_Mehta1](https://community.jupiter.money/u/Seher_Mehta1)\ **Post date:** [8 January 2021 11:00 UTC](https://community.jupiter.money/t/jupiter-select-4-health-insurance-1o1-by-ruchir-kanakia/2077/6 "2021-01-08T11:00:26Z")
**Top 3 priorities** while selecting a Retail Health Care Plan: 1. No Sub-limits in the plan. 2. Covers a variety of alternatives (for eg procedure of all types be it via Advanced tech or manually) 3. Features of the plan should be suitable such as minimal waiting, factors impacting Claim Settlement Ratio. ![image](https://us1.discourse-cdn.com/flex020/uploads/jupiter/original/2X/0/0ad8afa7a2f3191fac4a769327ad7c0e126b07b5.png) ![image](https://us1.discourse-cdn.com/flex020/uploads/jupiter/original/2X/6/6b3b53671f32305737a73475b895bf94d9691e5c.png) ![image](https://us1.discourse-cdn.com/flex020/uploads/jupiter/original/2X/a/a2f1d176d77340a0588bc162dfbe7fc4f4e083d8.png) ---
**Author:** ![Seher\_Mehta1](https://sea2.discourse-cdn.com/flex020/user_avatar/community.jupiter.money/seher_mehta1/32/912_2.png) [@Seher\_Mehta1](https://community.jupiter.money/u/Seher_Mehta1)\ **Post date:** [8 January 2021 11:01 UTC](https://community.jupiter.money/t/jupiter-select-4-health-insurance-1o1-by-ruchir-kanakia/2077/7 "2021-01-08T11:01:57Z")
**How frequently should existing insurance plans be reviewed?** Must be evaluated every 4 years to suit new requirements as they are portable. **Caution for Insurance Plans for the elderly:** The insurance options reduce by 50% every 5 years after the age of 55. ![image](https://us1.discourse-cdn.com/flex020/uploads/jupiter/original/2X/9/95040b07e153f5902ba7e3f8c8fb33f3c680fd6b.png) ---
**Author:** ![Seher\_Mehta1](https://sea2.discourse-cdn.com/flex020/user_avatar/community.jupiter.money/seher_mehta1/32/912_2.png) [@Seher\_Mehta1](https://community.jupiter.money/u/Seher_Mehta1)\ **Post date:** [8 January 2021 11:02 UTC](https://community.jupiter.money/t/jupiter-select-4-health-insurance-1o1-by-ruchir-kanakia/2077/8 "2021-01-08T11:02:30Z")
![image](https://us1.discourse-cdn.com/flex020/uploads/jupiter/original/2X/0/062a66914d9fbb6a7986aba80acdb82dfc656973.png) ---
**Author:** ![Seher\_Mehta1](https://sea2.discourse-cdn.com/flex020/user_avatar/community.jupiter.money/seher_mehta1/32/912_2.png) [@Seher\_Mehta1](https://community.jupiter.money/u/Seher_Mehta1)\ **Post date:** [8 January 2021 11:03 UTC](https://community.jupiter.money/t/jupiter-select-4-health-insurance-1o1-by-ruchir-kanakia/2077/9 "2021-01-08T11:03:01Z")
![image](https://us1.discourse-cdn.com/flex020/uploads/jupiter/original/2X/6/6560b77d9283790f83f23316275ff92c21204920.png) fin. 🙂 ---
**Author:** ![Dev](https://sea2.discourse-cdn.com/flex020/user_avatar/community.jupiter.money/dev/32/786_2.png) [@Dev](https://community.jupiter.money/u/Dev)\ **Post date:** [9 January 2021 02:27 UTC](https://community.jupiter.money/t/jupiter-select-4-health-insurance-1o1-by-ruchir-kanakia/2077/10 "2021-01-09T02:27:15Z")
Wouldn’t it be better for me to have a “general” emergency fund (as a savings account in a high interest bank like Niyo) than to go for specific insurances? That way I don’t need to book specific insurances for different assets be it my car or body or anything and I can earn 7% interest on the fund as well!