“All that glitters is not gold.”
The statement is especially true when discussing health insurance plans; this is no new news! Everyone who has ever got rejected for a claim because of a lack of enough sum insured can understand the pain! Your health insurance plan must be the most encompassing deal, but once a big medical emergency occurs, the lack of enough sum insured can leave you alone in crucial times.
The cost of healthcare in India is rising every day, and to get all of it covered in health insurance, you need a comprehensive plan such as one cr health insurance by care health insurance. A Plan with a premium amount of 1cr may seem an unnecessary ordeal. Today, through this section, you will address five important reasons why health insurance with high premium amounts is important.
5 Reasons You Should Buy Health Insurance with High Premium
- Medical cost inflation
The medical costs in India are rising day by day. Everything from doctor’s consultation to diagnostic tests is costly and may be enough to dig a hole in your pocket if you are not safeguarded with enough sum to save you from the crisis. Even if you have a comprehensive plan that covers the reason for expenses incurred, the plan may be of no use if you lack enough finances in the existing plan. In such a case, a plan with a high premium amount can efficiently protect you from medical inflation.
- Rise of Critical Illnesses
Post-pandemic, the prevalence of critical illnesses has increased evidently. People are now more prone to respiratory tract disorders and diseases such as high cholesterol, diabetes, hypertension etc. A plan with a high sum insured can be beneficial to ensure that medical costs for all or most diseases get covered.
- One Plan For all Family Members
A mother-to-be, the kids, you and the elderly of the family may have unique healthcare needs. Securing all health needs in common, low-premium health insurance or buying an individual plan can be absurd and hectic to manage. However, a plan with a higher premium and maximum coverage can help you, and your pocket remains safeguarded during a medical crisis.
Thus, rather than buying multiple health insurance plans for each family member, a plan that covers all the unique medical needs of the whole family proves to be beneficial.
- No Cap on Services
Generally, in the plans with a basic sum insured, some caps define the limits of your claim benefits for certain hospitalisation services such as room rent, ICU charges, ambulance charges etc. However, buying a plan with a higher sum insured can ensure that there is no cap to such services and when in times of need, you can easily look for your insurance rather than looking after your broke pocket.
- Benefits of Premium Amount
The surge in the premium amount of health insurance policies has been evident post-pandemic. Whether a standalone health insurance plan or a comprehensive family floater plan, the premium amount is higher with no discounts up to a certain premium benchmark. However, you may get huge discounts when buying health insurance with a higher premium amount.
For instance, take the one-cr health insurance by care health insurance. The plan offers a discount of up to 15% with the smart select option to customise a health insurance plan to your needs.
Summing It Up
A health insurance plan with a higher premium amount can play a crucial role in availing unlimited benefits during the course of hospitalisation to recovery in the long run. Thus, next time you plan to buy a health insurance plan, consider the important reasons hereby mentioned and buy the plan that suits the best for your family’s needs.