In the times of inflation, building a financial cushion through regular savings should be the objective of every family. Creating a safety net to protect the savings is another step in the right direction. Emergencies such as health problems or injuries have serious financial implications owing to the high expenditures. All this clearly indicates the importance of buying a health insurance policy.
However, the responsibility of an individual does not stop there. Regularly re-assessing one’s health cover needs is equally important. Along with rising number of ailments, the healthcare costs in India are also on the rise. So, upgrading one’s health cover is always a good idea.
One may think that this could result in higher premium. However, it is not so as there are ways in which you could get an increased cover at an affordable premium.
Here’s a guide.
Buy Health Policy Early
If you have a mediclaim policy provided by your employer and think that it is enough for your family’s protection in medical emergencies, you need to rethink! Such policies remain no longer valid the day you leave your employer. Thus, purchasing a health insurance policy is a wise decision. This way you will have increased health coverage.
Moreover, by opting for a policy at an early age, you would have to pay lower premium as health insurance premium costs increase as you age. Moreover, as you grow older the chances of developing medical conditions such as diabetes, hypertension, etc. increases and thus the premium also increases due to such factors.
Choose Family Health Cover
Family health insurance cover is beneficial as one can get a high medical coverage for various medical exigencies. Rather than buying individual covers for every family member, purchasing family floater plans is an affordable option as you get all the benefits at a single premium. In such plans, the premium are set on the basis of the age of oldest family member covered in the plan. So, you have an advantage if your family members are younger.
In addition, there are a range of features such as recharge of sum insured after it gets exhausted; and no claim bonus where you are eligible for increase in sum insured by a specified percentage for every claim-free year.
Invest in Super Top Up Plans
Super top up plans are highly beneficial when it comes to increasing health cover. These plans are designed to offer additional coverage above a certain deductible amount. This amount is borne by the policyholder either by directly paying from one’s pocket or through an existing health plan.
One of the biggest advantages of such plans is the affordable premium. In comparison to top up plans, super top up plans are advantageous when it comes to financial benefits. Top up plans consider expenses for a single hospitalization. However for super top up plans, the cumulative hospitalisation expenses in a policy year are taken into account.
So, you can choose to increase your health coverage by considering the above-mentioned points. This will certainly help you lead a worry-free life later on.
Take a step today for protecting your family’s health. Choose ‘Enhance’ by Religare Health Insurance which is a super top up plan that offers a high range of medical coverage.