As healthcare continues to become expensive, it has become important for
everyone to get adequately covered through health insurance. Experts
suggest that one should be careful while selecting the right amount of
health cover.
The amount of health cover one can get depends on the type of policy and
the number of dependants. Ideally, a person should buy a plan providing
a minimum coverage of Rs 5 lakh to Rs 10 lakh to keep themselves
shielded against any health emergency under present circumstances.
The amount of health cover one can get depends on the type of policy and
the number of dependants. Ideally, a person should buy a plan providing
a minimum coverage of Rs 5 lakh to Rs 10 lakh to keep themselves
shielded against any health emergency under present circumstances.
“Since the outbreak of the covid pandemic and the rise in the medical
treatment cost, more and more people are opting for health insurance
covers, but ‘Under insurance’ is still a major cause of trouble when
they file a claim. To decide the right amount of health cover, one
should access their needs, current age, health condition, lifestyle, and
income systematically. Inflation and feasible unforeseen expenses are
the other major factors to be considered while choosing the policy,”
said Thakur.
“It is advised to choose a health plan which is at least 50% of one’s
annual income. Opting for an adequate sum insured according to one’s
need and reading thoroughly about the exclusions and conditions also
help to make the right decision in choosing a health plan,” he added.