Q1. I would also be obliged if you could suggest me about some insurance. I have thought of Max Life online term insurance for me and my brother. And Apollo Munich Optima Restore Health insurance with 5 lac cover each for me, my brother and my mom. If possible, would you please add some suggestions to this?
Term life insurance is almost a commodity product. You can't go too wrong with any of the popular ones. The more important thing is to have one.
For term life insurance, our currently recommended products are ICICI Prudential Life iProtect Smart term insurance plan and HDFC Life Click2Protect 3D Plus. You can use our Life Insurance Cover Calculator here to find out how much life insurance cover you should take: https://www.goalwise.com/financial-tools-calculators/life-insurance-cover-calculator
For health insurance, you can go ahead as planned. Apollo Munich is our recommended provider (along with Max Bupa), and Optima Restore is their flagship product. The cover amount of Rs. 5 Lakhs each is also good.
For your mother, you can consider taking additional super top-up plan of Rs. 5 Lakhs (with Rs. 5 Lakhs deductible), which would cover any hospitalization expenses for her exceeding the base cover of Rs. 5 Lakhs. This can be taken from Apollo Munich as well.
Q2. Regarding, Health Insurance for my mother - can we apply for Ayushman Bharath Yojna if yes then how?
In Ayushman Bharath Yojana, families who are covered under this have already been identified by the government.
It covers more than 10 crore poor and vulnerable families across the country, identified as deprived rural families and occupational categories of urban workers’ families as per the latest Socio-Economic Caste Census (SECC) data.
A list of eligible families has been shared with the respective state government as well as ANMs/BMO/BDOs of relevant area. Only families whose name is on the list are entitled for the benefits of this scheme. You can further check with your area Block Development Office (BDO) for this.