Yes � most of us assume or believe that PSU Insurance Premium will always be lower � is it a truth or is it a myth? With entry of many insurance companies in last 12 years we find that this assumption is not valid.
Family Floater Mediclaim Policy (2+1 Adults) | |||
Insurance Company | Apollo Munich | Religare | Oriental |
Product Name | Optima | Care | Gold |
Sum Insured (Rs.) | 10 Lakhs | 10 Lakhs | 10 Lakhs |
Age | |||
41 | 14150 | ||
37 | 2830 | ||
8 | 2130 | ||
Net Premium | 14258 | 15192 | 19110 |
Service Tax 12.36% | 1762 | 1878 | 2362 |
Total Premium | 16020 | 17070 | 21472 |
You will notice that for a family of 41, 37, & 8 with sum assured (family floater) of Rs.10 lakhs the premium is:
Company | Premium Amount (Rs.) | Higher than Apollo Munich by % |
Apollo Munich | 16020 | -- -- |
Religare | 17070 | 6.55% |
Oriental | 21472 | 34.03% |
Therefore we come to the conclusion that one should consider various options before going in for selection of any insurance policy.
