There has been a growing trend of critical illnesses rising in the past few years. Many factors contribute to this, including a sedentary lifestyle, unbalanced diet, and lack of exercise*. Still, the fact remains that we need to protect ourselves from the ill effects of our lifestyle as much as we can. A health insurance plan that offers a High Sum Insured cover is one of the best decisions you can make.
What is the Sum Insured?
The sum insured is how much a health insurance company will cover your medical expenses. When choosing your health insurance policy, it is essential to keep in mind not just the present circumstances but also future possibilities. Expenses for medical reasons are always on the rise, and inflation will guarantee that the future costs will be much higher than what it is at present.
A comprehensive health insurance plan should be able to cover not just the hospitalization costs, but also the pre- and post-hospitalization costs that are a result of needing tests and follow-up visits to the hospital .So, a High Sum Insured will offer an adequate amount of coverage for both you and your family in the event of a medical emergency, as well as keeping them safe by covering the tests, doctor visits and any medical treatments required post-hospitalization.
Is a High Sum Insured plan for me?
Now, you must be thinking, “But a High Sum Insured health insurance policy is excessive!” And this couldn’t be further from the truth. When you consider that you will be protecting yourself and your family against the financial disruptions and mental stress medical emergencies inevitably bring, it is an investment that will be there for you when you need it the most.
A health insurance plan that offers a high sum insured is one that will suit every person, as it will protect you in the present, while also accounting for future occurrences. A sudden medical emergency that requires a significant sum can be a very stressful affair, a factor which could hamper your recovery or, in a worst case scenario, lead to further health complications.
What affects the Sum Insured?
While the Sum Insured of a plan is based on how much cover you would like to receive, there are other factors which could lead to requiring a High Sum Insured. These include aspects such as your age, the number of dependents, and the cost of healthcare in your City
Senior citizens typically require higher amounts of Sum insured as compared to younger people. If your policy will cover several family members, then a high sum insured is essential for complete coverage. Urban areas tend to have a higher cost of healthcare, resulting in a higher sum insured required for residents, compared to less populated areas.
Why do I need a High Sum Insured health insurance plan?
Let's take an example. If a person were to be diagnosed with a heart condition, that would require a certain degree of testing, doctor consultations, and medicines to ensure the person leads a healthy life. Even so, there is always a chance things could go awry and lead to a heart attack. Just the knowledge of a heart condition adds stress to a person's life, and the thought of having to pay the ever-increasing medical costs can be daunting for anyone.
In this scenario, a High Sum Insured health insurance policy will be able to take away a significant portion of that stress. Knowing that your plan will be able to support you financially in the event of such an incident is not just healthy for your finances, but for your peace of mind as well!
Health insurance plans such as ManipalCigna Health Insurance LifeTime Health policy offer a wide range of Sum insured. You can get a Sum Insured from Rs. 50 lakhs till Rs. 3 Crore, which would be able to cover you and your dear ones adequately. A complete and comprehensive health cover which helps you get advance medical treatment in India and abroad.
The best way to understand your perfect Sum Insured is to get in touch with a health insurance provider such as ManipalCigna Health Insurance, who will be able to guide you on your path to safeguard your health. While it may seem like a significant investment at first, knowing and understanding that your loved ones are safe and protected is a truly priceless feeling.