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Sunday, February 28, 2016

B GANGA RAJU'S TURN NOW...Discussion continues


28 Feb 16, 06:21 PM

B. Ganga Raju: After seeing some posts I still feel the need to refer to Principles of Insurance C.I.I. course that I studied for Licenciate Exam. in 1963. How much cover one should have ? Even now the cover depends on one's capacity to save and spend for insurance unless you get coverage under a scheme the cost of which is entirely borne by the state or employer. Now the ruling principle is
"there are no free lunches." Kindly do not confuse this with lunch coupons. I am a member of Mediclaim since inception .

Many seniors would recall how the concept had to be popularised and there was a kind of voting or opinion gathering from all employees. Much on the lines of determining the strength of a Union. Atlast it became operational, with graded coverage depending on cadre/basic pay. In all these years I took a claim for a small amount in 1988 and another one recently for Cataract operation. Visiting the relatives and friends in hospitals I found it cheaper to stay healthy. Now we have floater policy and the subsidy also is helpful. All these improvements have not come overnight but in 3 decades.

Now many of our pensioners have to analyse and decide how much cover they need. Are they kept emotionally happy by children or do they wish for an early death? If one cannot attend nature's calls unaided is it not the long bell in the school? Even the best of coverage will not help you to stay in a costly place and receive help and attention 365 days. And the purpose of cover is simply not that. All insurance is for unforeseen contingencies. We are not the lucky Presidents, Prime Ministers and other functionaries who receive free medicare .

Back to the question, How much is ideal cover? Each one's needs are different. Some survive only on pension still paying house rents. Some are well looked after by children even without mediclaim. Some are satisfied with video calls and brood over the purpose of existence. Yet some others support their children even now.

Our system does not have schemes to help every citizen have free medicare. Any volume of high voltage propaganda won't make a scheme acceptable unless it captures the imagination of individuals and meets with their daily needs. Your present state of health, family life, your expectation about future expenses etc. will determine how much you opt for. Among our tribe many continue to live with the hope that Supreme Court will give us Updation of Pension. I can only salute those who left for another world without seeing realisation of Updation. Others like me wait for next commencement of hearing in S.C. 


Sarve Janaah Sukhino Bhavanthu.