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Health insurance: Do a reality check now!

December 17, 2007
As a financial advisor, late evenings were a routine; after a series of client meetings I was about to wind up for the day, when suddenly Payal Chawla, all hassled and upset walked in. I have known Payal for sometime now. She is a smart IT professional, who had approached me for assistance in structuring her salary.

As soon as she barged in, Payal asked me, "Do you think I need to insure my health?" I asked my frenzied client to calm down and explain her apprehension to enable me to help her out.

Payal immediately rattled out stating that her close friend's husband, aged about 29, who worked with an MNC had been admitted to a hospital due to some chronic respiratory problems. She went on to mention that, he was duly covered by the company for such unforeseen health expenses, and had sufficient bank balance. But to her utter shock her friend was unable to bear the medical costs.

Thankfully, she along with a couple of other friends had chipped in with their might and money to ensure that the medical treatment continued without any interruptions.

After that there was paradigm shift in our conversation and we started discussing about various aspects of health care to arrive at an ideal conclusion on the query posed by Payal.

Text: Anil Rego. He is the founder & CEO of Right Horizons and has done CFA-PGDBA.
Illustrations: Dominic Xavier
Also read: Understanding the Sensex and the Nifty

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