Should you go for High Health Insurance Cover?
With the revolution and advancement in medical science and technology, various new procedures are being adopted for surgeries and treatment of severe illness. Even a change in lifestyle has encouraged the youngsters to go for treatments in super-luxury hospitals. These are the major factors that are encouraging human beings to look for a high sum assured.
Cover for Treatments outside India:
Some of the severe illness demands treatments and these treatments are not available in India. The treatments for these illnesses are available outside India in different countries. Thus, people are increasingly opting for medical treatments outside India for critical illness. Even these Health Insurance Products fulfill these needs too.
High Insurance cover means High premium:
Affordability is the main issue for most people. As if they opt for high-valued Insurance Cover, they will have to pay an extra premium which is impossible for a middle-class person to pay in this inflated environment. For instance, for the insurance cover of Rs 50 lakh, the premium can go in the range of Rs 28,000 and Rs 50,000 depending upon the family members and the product.
Striking your balance:
If you want to go for a maximum Heath cover and affordability is the issue, it is recommended to strike a balance. Striking a balance is very important in this case, as you will not have to channelize all of your savings towards the health insurance premiums. Even if you are not able to afford the premium, you can opt for Top-up health cover that ranges from Rs 5 lakh to Rs 10 Lakh.
Don’t miss the important factors to evaluate:
A large cover doesn’t mean it will return every expense. Before opting for this cover, you must cover all of the factors such as maternity cover, dental treatment, a network of hospitals, exclusions, and many more. Invents of high priced insurance cover, there may not be caps on the room rent.
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