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How Much Insurance Should You Get for Yourself and Your Loved Ones?

Most experts recommend having sum insured at least 2 to 3 times the annual income and as per no. of family members.

3 min read
How Much Insurance Should You Get for Yourself and Your Loved Ones?
Hindi Female

Health Insurance has become a necessity for individuals & families today. In the aftermath of Covid-19, there is an increased awareness of consumption patterns and lifestyle choices to avoid unnecessary health hazards. Besides, more people are getting aware of growing occurrence of comorbidities such as increased blood pressure, diabetes, obesity, anaemia etc. in young population. Hence, it only becomes imperative to become cautious and pay more attention towards one’s health. A major way in which one can ensure good health is by securing it. Getting a Comprehensive Health Insurance that understands needs of each member of the family and fits the financial budget can go a long way in securing finances in case of any unforeseen medical emergency in the future. It ensures you get access to quality healthcare in your hour of need.

How does Health Insurance Help You in a Medical Emergency?

Amidst the increased air pollution and poor Air Quality Index, leading pulmonologists in the country have consistently raised alarms about respiratory and ensuing cardiac diseases that affects all age groups today and cuts through various fitness barometers as well. Besides, expenses for treatment of complex diseases such as Chronic Obstructive Pulmonary Disease (COPD) are sky-high. Even tertiary care in domiciliary for such ailments can be long tailed and unaffordable. Health Insurance therefore becomes an advantageous and safety shield. The policy covers the insured for in-patient hospitalisation expenses, along with pre and post hospitalisation care, ambulance cover, domiciliary cover and so on. Having a health insurance plan in place means you’re well prepared for medical eventuality that may knock at your door anytime.

How much of Sum Insured should you consider for your Health Insurance?

Now that we know Health insurance is important, the next question that arises is how do you choose the right health insurance and how much coverage would you need?

Ideal Sum Insured varies from family to family and is dependent on various factors like lifestyle, income, location and medical history. Most experts recommend having sum insured at least 2 to 3 times the annual income and as per no. of members in the family.

How to choose the right Health Insurance for your family?

Insurance industry has been evolving and innovative products are being introduced in the market on regular basis. Insurers are providing products with added features & benefits that are aimed at being advantageous for consumers. Digitalization of process is further making services more user friendly and hassle free. However with multiple, competitive products, one tends to get confused while making a decision on choosing the best health insurance for your family.

Having said that, Care Health Insurance has been one of the leading Standalone Health Insurance Companies in India for a while now. It has introduced plans for the entire family that are tailor made as per the specific needs of all members. Family health insurance plans cover your parents, spouse and dependent children under a single premium. You can also add and remove new members at different stages of life. Sum Insured can be split or used completely by one individual in case of a medical emergency.

One such health insurance that provides supreme care for the entire family is Care Supreme Family Health Insurance.

Care Supreme Family Health Insurance: Key Features

· Provides 7 times the coverage of original Sum Insured which is unaffected by the claims made

· Up to 30% discount on renewal premium on meeting the healthy day criteria with wellness benefit

· No Sub-limits on traditional or modern treatments

· Offers a range of sum insured options Rs. 7L, 10L, 15L, 25L, 50L & 1 Cr to choose from as per your specific needs.

· Coverage for pre-hospitalisation charges for 60 days and post-hospitalisation charges for up to 180 days

· Day care procedures are covered

· 5% discount on digital purchase of the product

Additionally, with 22900+ cashless healthcare providers, 38L+ settled claims and 24*7 claim and customer support, Care Health Insurance has made its journey worth experiencing.

To know more about Care Supreme, eligibility and proposal, kindly connect with our insurance experts.

(At The Quint, we are answerable only to our audience. Play an active role in shaping our journalism by becoming a member. Because the truth is worth it.)

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