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Beat Rising Medical Inflation with 1 Crore Health Insurance Plan for Your Family

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Published on August 11, 2021. EST READ TIME: 2 minutes

Healthcare is the most valuable asset one can have. It is important to meet your healthcare needs to stay healthy and ensure a good quality of life. However, to avail healthcare services, a certain price has to be paid depending on your condition and service requirement. Over the past few years, medical inflation has been increasing leading to increased healthcare costs. To make sure that you receive the best quality of healthcare while not spending beyond your financial capacity, health insurance can be beneficial. This article explains how a 1 Crore health insurance plan for your family can help beat the increasing medical inflation.

Rising Healthcare Inflation in India

The cost of healthcare has been increasing over the past few years. Especially since the second wave of Covid-19, these costs have been reaching new peaks. Medical inflation has been rising at a rate of 18% to 20% every year. Due to these high costs, not many individuals are able to meet their healthcare needs. Many from an average financial background would be unable to meet their healthcare needs due to such high costs of medical services. Some of the reasons for the increased medical inflation rate in India are as follows:

• ●Scarcity of qualified experts in the healthcare field
• ●The expensive cost of diagnostic equipment and advanced technology used in healthcare
• ●Shortage of number of specialists and surgeons in a niche field
• ●The increased trend of patients opting for a higher category of rooms and extended hospital stays.

Due to this combination of factors, healthcare costs have been on the rise. In order to meet your healthcare needs, it is absolutely important to have the required finances or a good health insurance plan. Let us have a look at how you can beat medical inflation with an enhanced health cover.

Enhance Your Health Cover to Beat Medical Inflation

With medical inflation, you will need larger health insurance cover. The cost of treatment has been increasing, especially for serious ailments. In cases where the patient is required to stay in the hospital for a prolonged period of time, the medical expenses can be skyrocketing. It is always best to avoid such high medical expenses by enhancing your health insurance.

When it comes to enhancing health covers, many face the crossroads between a top-up plan and a new policy with a large cover. Top-up plans can act as an add-on to your existing health insurance. This can be purchased with an existing base cover and will be triggered if the medical expenses are beyond the coverage of the base plan.

Some people may prefer purchasing a new health insurance policy that provides a large cover. If you do not already have health insurance, you can purchase a new policy with a large cover. To purchase a top-up plan, you will need an existing health insurance policy. You can compare between top-up plans and choose a suitable plan depending on your needs.

Benefits of 1 Crore Health Insurance Plan for Your Family

The 1 Crore health insurance policy provides enough cushion to cover all kinds of healthcare expenses for your family. Ranging from a small healthcare concern such as a fever or cold to serious concerns such as surgery, the 1 crore health insurance for family can be beneficial. All costs such as hospital stay, doctor’s consultation fees, pharmacy bills, ambulance cover, organ donor expenses, etc. will be covered depending on the plan you choose.

With this health insurance for family, you would not have to worry about spending exorbitant amounts to meet healthcare needs. With this large cover that is provided, your family’s health needs can be met without having to worry about medical expenses. You can also avail the no-claim bonus in case you do not use this cover for a period of 1 year. 

Final Thoughts

With the increasing medical inflation, having mediclaim policy is becoming more of a necessity. Moreover, with the current lifestyle that is followed by many, the incidence of diseases has been more frequent. To get the best healthcare treatment, it is important to have the necessary finances. With health insurance for family, you can finance the healthcare expenditure incurred. A 1 Crore health insurance provides enough coverage for all kinds of diseases across varying degrees.

Disclaimer: The above information is for illustrative purposes only. For more details, please refer to policy wordings and prospectus before concluding the sales.

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