Health Insurance: Should You Consider Rs 1 Crore Health Coverage? Discover | Info4u
Previously, a family float policy was one of the easiest ways to buy affordable health care plans for the whole family, but nowadays, plans with lower face amounts are no longer enough. It is now very evident that health insurance and hospital spending have grown at a staggering rate, especially since the lockdown began in 2020, and rising inflation only adds to the rise. A medical coverage of Rs. 7 to 10 Lakhs is no longer sufficient to meet the medical needs of the insured and his family.
While there is no rule of thumb for the amount of coverage to be sought by a policyholder, he must be informed by the cost of healthcare in the policyholder’s city and existing illnesses. family members. If you get Rs. 1 crore health insuranceWhile it may seem comprehensive, knowing the current needs of your family members, understanding their medical history, and considering potential risk factors can quickly help you decide on the medical coverage your family needs.
Need a Rs. 1 crore of coverage
Here are some reasons why you should consider Rs. 1 crore health insurance for yourself and your loved ones:
- Critical illness coverage
In recent times, the number of cases of chronic diseases like diabetes, hypertension, heart disease, etc. has increased considerably, and the processing of these is also very expensive. It might become very unlikely for an average family to shell out medical expenses and the expense of various treatments and procedures all at once.
- Coping with rising expenses
In recent years, the costs of medical care and hospitalization have become higher, and delivering the best treatment on time is no longer an easily achievable feat. With the help of a Rs. 1 crore health insurance, you can easily ensure that you and your family receive timely treatment at the best hospitals.
- Manage a pre-existing medical condition
If you or a family member has been previously diagnosed with a health problem or serious illness, then having a Rs. 1 crore coverage would be your ideal solution. It can also help you create a financial plan and sort your emergency funds with confidence, as your current medical bills will be covered by your health insurance.
- Routine checks for the family
Having routine checkups at least once a year is the need of the hour, and a comprehensive insurance plan can cover these annual checkups for your whole family. For example, using a men’s BMI calculator, glucometer, oximeter, and various other devices, it is advisable to keep an eye on your health and determine when it is time to do a full body assessment.
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Is there a catch?
You may fear that obtaining Rs 1 crore health insurance is expensive. Does such a plan require you to spend lakhs on bounties? This question may bother you. Now insurers are also focusing on providing the most coverage possible at lower premiums. Some plans intended for two families of two adults aged 30 to 35 can be used for as little as Rs 15,000 in premiums. Remember, get a blanket that allows you to book routine tests like a BMI calculator for men to keep tabs on your health.
Insurers have been able to make these premiums cheaper by requiring a small basic coverage as well as more top-ups. Thus, insurance plans with lower basic coverage and a higher amount of top-ups make insurance coverage much more affordable. The important thing to remember is that these add-ons may not be available to policyholders who already have a pre-existing medical condition such as hypertension or diabetes. Also, people who already have a health insurance plan cannot transfer the same plan to a different plan to get Rs 1 crore health insurance coverage.
At the end of the line
It is better to have a higher amount of health coverage and not need it than not to have it and be in need. In recent times, winners have certainly thought twice about their health insurance choices and planned their taxes better to accommodate health insurance plans with higher coverage options and various other things. advantages. There are several portals that can help you compare different plans and choose the one that’s right for you. These websites contain different types of plans from a number of different insurance companies.