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You have always been careful about selecting only what is best for you. Taking up the right job, following the right diet plan or buying a car that suits your needs. But is it the same when it comes to health insurance? We feel that we have a health insurance, so we are sorted. But choosing the right Sum Insured is as important as choosing health insurance itself.
As having a lesser sum insured than required is as bad as not having one because in that case, you are also paying a premium for it and you also don’t save as much for health, thinking that you have this cover.
Let’s take a minute here and look at some shocking facts:
"1 out of 5 cancer patients are within the age of 36 to 45 years"
Source: Times of India
"A cancer patient spends around 20 lacs for treatment, medicines and all other care."
Source: All India Institute of Medical Sciences
So, even if we think we can afford the 20 lac in times of such need, is it really worth exhausting our lifetime savings?
Now, what is the solution you say. Because in times of such emergencies, our savings is what has our back. But what if we say that taking a health insurance policy with adequate Sum Insured can SAVE YOUR SAVINGS? Let us explain this to you with an example.
Mr. Agnihotri, who is 30 years old, earns 50,000 per month and saves 10,000 every month. By the age of 40, he saves around 17 lacs. But on the day when things come crashing down, Mr Agnihotri is diagnosed with cancer Apart from the unimaginable mental and physical stress, Mr. Agnihotri also has to arrange for the treatment and medication costs.
So, we see that a health insurance policy with the right Sum Insured is an investment that can protect your Savings over a lifetime.
Your age: The earlier you start the higher should be your Sum Insured as the number of years left would require a greater safety net.
Your Life stage:: Based on the life stage you are in, for instance, if you are going to get married or start a family etc, your Sum Insured should factor in the healthcare expenses associated with it.
Health Conditions: If you have a history of medical condition in your family, your Sum Insured should factor in the possibility of an unforeseen health condition in the future
Dependents in the family: If you are planning to take a family floater policy with your family members, the Sum insured should take into account the needs of each member and the future healthcare expenses for them.
Lifestyle and personal habits: The kind of job, eating habits, stress levels and other personal habits shows the way for an individual’s future healthcare needs. While choosing a Sum Insured these should be thought through too.
After all health is wealth!
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Disclaimer #1: *Customer can choose options at the time of availing insurance. Premium amount may vary accordingly. Insured is required to disclose any pre-existing condition or on going treatment before policy issuance in the proposal form.
Disclaimer #2: This information is added only for informative purposes and collected from different sources across the Internet. Digit Insurance is not promoting or recommending anything here. Please verify the information before making any decisions.
