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Is Buying Bigger Health Cover Really Helpful? Who Should Buy It?

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Published on March 31, 2021. EST READ TIME: 3 minutes

No one is immune to medical emergencies, including you. And when it hits you, given the current medical inflation, your finances are sure to take a beating as well. According to a survey report , in FY 2016, more than 64% of the total healthcare expenditure in India was from out-of-the-pocket expenses. A basic health insurance plan will take care of the basic medical expenses, but what if your bills exceed the sum insured or if you are diagnosed with a critical illness? Paying out of your pocket will lead to an imbalance in your savings or worse lead to debt. So, why settle for less coverage, especially when a 1 cr health insurance policy can be availed at as little as INR 1114 per month*with HDFC ERGO’s my:health Koti Suraksha. Let us learn more about this big plan for a clearer idea of its utility.

1. Do You Really Need A Cover As Big As 1 Cr Health Insurance?

Looking at the ever-increasing medical inflation and lifestyle changes, a bigger health insurance cover can help you tackle a medical emergency without putting a dent in your savings.

Our my:health Koti Suraksha plan offers a sum insured of up to INR 1 crore can be your suraksha in critical times covering the in patient hospitalisation, pre & post hospitalisation expenses , unlimited daycare procedures, much more.  With no room rent capping** and our network of 10,000+ hospitals, you can avail quality healthcare facilities at the hospital of your choice. A bigger health cover also means there’s enough cover for all your family members.

The icing on the cake is the premium of INR 1 cr health insurance policy is affordable with easy instalment payment options.

2. Who Should Buy Bigger Health Insurance?

• Sole Bread Earner of the Family: If you are the sole bread earner in your family and all major financial decisions are taken by you, then it’s advisable to go for bigger health insurance like the 1 cr health insurance. This will help you to plan and take care of your family’s future medical expenses.

• Someone with Excessive Financial Commitments: For someone who’s already paying regular EMIs for maybe a home, child’s education, etc., paying hefty medical/hospital bills, during an emergency, becomes nearly impossible. A 1 cr health insurance policy will help you tide over the financial crisis without impacting your financial commitments. Secure yourself with bigger health insurance and peace of mind is guaranteed.

• Someone with Family History of Critical Illness: If you have a family history of a major or critical illnesses such as cancer, heart ailments, kidney disease, a basic health insurance plan will not be of much help. One crore health insurance should be the ideal plan to safeguard you and your family financially and save you from getting into debt due to hospitalization and medical bills.

• Someone who Leads a Very Stressful or Sedentary Life : Are you leading a sedentary lifestyle that doesn’t allow you to follow a healthy routine? No matter how hectic or stressful your life is, ignoring your health should be the last thing to do as there will be a risk of succumbing to lifestyle diseases at a young age. To avoid such potential health risks, it’s always a great idea to get a health cover like the 1 cr health insurance policy to secure you financially from unexpected medical emergencies.

Conclusion

In 2018-19 , the average healthcare inflation was 7.14%, witnessing a steep rise from 4.39% in the previous financial year. And you still think if a bigger health cover will help? Remember, precaution is always better than cure. If you are worried about expensive premiums for bigger health covers, then be rest assured that our 1 cr health insurance policy  comes with affordable premiums that start at INR 1114* per month. Apart from this, our one crore health insurance plan has a host of benefits like free preventive health checkup, road ambulance#, alternative treatments^, lifelong renewability, etc. that will let you focus only on health while we take care of everything else! Stay secured!

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.

**Up to single standard A/c room under Platinum Plan * Premium ( excluding Tax ) for Platinum Plan Tier 2,  1 adult age 36 to 45  # Road ambulance up to Rs.2000 in platinum plan , ^ up to Rs,50,000 under Platinum Plan HDFC ERGO General Insurance Company Limited. Registered & Corporate Office: 1st Floor, HDFC House, 165-166 Backbay Reclamation, H. T. Parekh Marg, Churchgate, Mumbai – 400 020. Trade Logo displayed above belongs to HDFC LTD and ERGO International AG and used by HDFC ERGO General Insurance Company Limited under license. For more details on the risk factors, terms and conditions, please read the sales brochure/prospectus before concluding the sale. UIN: my:health Koti Suraksha - HDFHLIP21131V012021 IRDAI Reg. No.146 CIN: U66030MH2007PLC177117. UID No. D2- 63 Terms and conditions applied.

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