Why should you Consider 1 Crore Health Cover Policy?

Need of 1 Crore Health Insurance Policy

Health has become the number 1 trending topic across the world for the past few years. All credits go to the covid19 pandemic, where the cost of treatments was increasing just like the spread of the virus. These increasing medical expenses and the high number of fatal diseases have brought attention to health insurance policies in recent times. Likewise, one-crore health insurance covers are becoming more popular nowadays, targeting individuals and families who are keen to protect themselves against any health scare. Insurance companies are also competing against each other to offer such policies with many useful features and higher coverage. To properly use these features, let’s look at the reasons why one should seriously think about buying a 1 crore health insurance policy.

1 Crore Health Insurance Policy – Know Everything

Based on the statistical information from the Indian Council of Medical Research (ICMR), the amount of cancer cases in India is expected to increase by 1.5 million cases by the year 2025 (up from 1.39 million in 2020). Similarly, the number of people suffering from heart disease and stroke is also rising every year.

While India provides superior and effective healthcare for various illnesses, the cost of treatment is increasing at a faster rate. During the peak of COVID-19, the cost of a 15-day-hospitalization at a private hospital in a metro city was priced between Rs.2 lakhs to Rs. 5 lakhs. So, your insurance policy must be able to cover such costs in the future.

For example, a health insurance policy with the sum insured of 20 lakhs taken by an individual aged 30 would cost Rs.900 per month. In contrast, the same amount of insurance for a 1 crore sum insured may cost you about Rs. 1,000 per month. With the premiums of 1 crore health insurance plans being affordable, it provides a guarantee of getting the highest standard of healthcare for an individual or all family members, with no pressure of worrying about the cost of medical treatment.

To help you start your search, the most popular health insurance policies with 1 crore coverage value provided by various health insurers are listed below:

1. Religare Care Advantage Policy
2. Religare Care Global Policy
3. Max Bupa Health Companion Policy
4. Star Health Young Star Policy
5. Star Health Comprehensive Policy
6. Aditya Birla Health Activ Assure Diamond Policy
7. Digit Health Care Plus Insurance Policy
8. Manipal Cigna Prohealth Premier Policy
9. Edelweiss Health Insurance Platinum Policy

One crore health insurance – who should buy?

If you are thinking that a 1 crore health insurance policy is a bit on the higher side or thinking whether you should purchase the policy or not, then you should certainly read this. We’ve put together a list of the most probable group of people who will find it useful to buy such insurance policies with the high coverage value.

1. Those with growing children: If you have children of your own, then the most valuable gift you can give them is your love, stability and financial security. A robust health insurance plan that has high coverage, like the 1 crore health policy, will aid in tackling costs taking into account the future medical bills, inflation and sudden hospitalizations. It is possible to begin investing today at a lower cost by purchasing a 1 crore policy as early as possible by locking at low premiums compared to what they will need to pay for in the near future.
2. Those with terminally or critically ill family members: If you have family members who are diagnosed with any serious medical condition, critical illness or terminal illness, they need to have proper and constant treatment. But these treatments are not economical, and your finances could drain without adequate health insurance coverage. Unsuitable treatment is not a viable option since it can cause a worsening of their medical condition and could cause future problems and complications. Therefore, it is essential to pay for the necessary expenses of these people, and that is where the 1 crore health insurance coverage is helpful. A variety of add-ons are available with the policy for these illnesses in the form of riders that can keep the insured person stress-free and happy with access to the most effective treatment options.
3. Those in the joint family: If you have a large family and wish to offer a floater family health insurance that is beneficial for everyone, it’s best to opt for a 1 crore health insurance policy. A sum of Rs. 1 crore in health insurance will ensure that all members of your family are fully insured and are able to access any medical facilities at any time without financial stress. Family-wide health insurance is also more affordable than buying separate health plans for each individual.

Advantages of a 1 crore health insurance plan

Why opt for a policy with low coverage when you can buy a 1 crore health insurance policy for a little extra. So when you are able to avail yourself 10 times the coverage with a higher coverage health insurance plan, then the premium spent on it is also worth it. Here are some of the major advantages of the 1 crore health insurance plan:

• You can provide assurance over the financial security of your family members by purchasing a health insurance plan with a sum insured of 1 crore or more without worrying about an emergency medical situation.
• The price of advanced medical treatments is high, and such health policies with high coverage make it look affordable. For example, the price of organ transplantation may be as high as Rs 50 Lakh, and if you are covered by Rs 1 Crore health insurance, you can easily opt for the treatment with no financial worries.
• By choosing a 1 crore health insurance policy, not only is the coverage increased, but the network hospitals are also more, as you are eligible to get overseas medical treatment too under the same policy, which is not available with other plans.

For a whole list of 1 crore health cover policies that are available in the market, PayBima is your go-to solution. From helping you select the policy according to your needs to shortlist them as per your budget, it is a feature-rich platform for those who are looking to make an informed decision about their insurance requirements.