CNBC TV 18 Your Money: Health insurance for family & claim process


I am Sachin Sharma, 29 from ludhiana working in PSU, I want to purchase family floater health insurance plan for my wife age 28 and son 01 year old for 5 lacs cover. Kindly suggest me which company I choose whom cover critical illness rider also, offline or online and how much premium paid with complete claiming process.


Options: Appollo Munich, Religare or some nationlised bank my details are:


  • Annual income: 03 lacs
  • Term insurance: 30 lacs hdfc click 2 protect plus
  • Contingency fund: 01 lac


Dear Sachin,

I appreciate your decision to get your family covered as this will ensure that you are prepared to face any unforeseen medical emergency. However I would also encourage you to be a part of the family floater that you intend to secure your family with as it will continue to give you cover even if you plan to switch your job, when the insurance provided by your current employer stops.

Coming to the second part of your query on which company should you chose? You can consider buying Bank of Baroda Health Insurance policy of Rs.5 lakhs family floater which will cost you Rs. 7,182 p.a. Please note, the policy is renewable up to 80 years of age and is available only to Bank of Baroda account holders. Alternatively, you can consider of taking Apollo Easy Health family floater (2 Adults + 1 Child) for Rs. 5 Lakhs (Rs. 15,900) with add on Critical Illness of Rs. 5 Lakhs this will cost you (Rs. 17,391) irrespective of the mode of execution (i.e. online or offline).

Coming to the process of claim, it differs in planned and emergency hospitalization.

Planned Hospitalization

To avail for inpatient hospitalization services, you can go in any hospital in the country. If it is from the network of hospitals of the insurer, you can avail the cashless service, where you can get the treatment for free. In this case, the company pays your treatment expenses directly to the hospital.

Emergency Hospitalisation: 

But, in second case, where you or your family member gets the treatment in non-network hospital, you have to pay the bill and then can claim, up to the sum insured, for the medical expenses incurred.

You can claim the money by filling the health insurance claim form, which can be collected either from company’s office, from agents or online. The following information should be correct to claim for the reimbursement of medical expenses.

Name of the policy holder

Contact details

Policy number

Date and time of problem

Location of problem

Nature of problem

Remember to provide claim intimation to the insurance company before hospitalization and claim documents to the insurance company within 7 days of discharge.

CNBC Your Money: How to Invest for the first time investors


Dear Sir,

I’m new to trade in share market. I don’t know much about the discipline of this. I want to earn money with less amount of risk. Kindly suggest me top companies where I should invest. Also want to know how to multiply Rs. 1000.00 (thousand rs) to greater amount to invest in good company. I’m not in hurry and can wait for time.

Thanking You,
Gyanshu Kumar


Dear Gyanshu Kumar,

It’s lovely to know that more and more people like you are interested in investing in equity asset class and participate in the India’s growth. What excites me more is that you have a long term outlook. However I would strongly recommend you to take the mutual fund route to do so. But first a few lessons would be in order:
1. You cannot get high returns without taking higher risk. The whole idea is how to mitigate the high risk inherent in any equity investment. First is diversification, second is long term holding and third is systematic investments. Equity Mutual Funds allow you to do all the three.
2. Don’t have an expectation of spectacular returns expectations. Even the best investment strategy in the world cannot turn “Rs. 1000” in to a fortune. The quest to spectacular returns leads straight to the poor house.

CNBC Your Money: Transfer of shares and Tax treatment on the same

Dear Sir,

Can I sell equity shares of my brother in my trading account and if yes what is the tax treatment for these shares for me and my brother. Whether it will be long term capital gain or short term capital gain. Can I gift the shares to my spouse and what are the formalities for that?


Dear Deepak,
You are trying to do things in a very convoluted manner just to avoid opening a trading account. You will need to treat the transfer of shares to your brother as a gift and when he sells it in the market after paying the STT the capital gains will be exempt in his hands if the shares had been held by you for more than 12 months. He can then gift the sale proceeds to you. No tax anywhere in the transfer. It’s still a very convoluted manner just to avoid opening a trading account


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