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Tuesday, March 01, 2016

SN (A 1992 Pensioner)




'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', Shri B. Ganga Raju has rewritten the universal truth, reflected the reality of life. He questions, 'Are they (retiree/pensioners) kept emotionally happy by children?' The answer may be yes or no. Let us take the answer granted as yes. Hovever, all of us have to live to complete our innings. As emphasised by him, the (medical) insurance is for unforeseen contingencies. Unfortunately, such contingencies emerge more often when we are unprepared to face them. In sum, it is desirable to insure health, insure life.

As observed by Shri M.V. Venugopalan, the premium is not too much to pay. If the pensioners get their pension updated, the additional premium, nay, the entire amount of premium would be peanuts! While everyone would like to go for full coverage, the pension received by pre-August, 2002 pensioners is 'pittance' in terms of present value of rupee.

 
All TPAs and medical insurance companies say that are too in business and they function to make good profit. The hospitals charges, the doctors fees, the cost of medicines have multiplied over the last few years. The hospital charges go up and as a result, the coverage has to go up; the mediclaim coverage goes up which in short while pushes-up the hospital and doctors' charges and cost of drugs. It all seemingly works like a vicious circle. The Regulatory bodies should ensure to check the malpractices, if any. 

Shri M.Sreenivasa Murty has disclosed that LIC has been misleading the HC-P&H regarding the amount deposited in the Registry. Not sure when the sun is going to shine upon the LIC pensioners...
SN (a 1992 pensioner)