I reside in a metro city. Is a family floater health insurance plan of 7 lakhs adequate?

How living in a metro city can impact your health

Many people migrate to metro cities for better job opportunities and some even settle there with the hope of living a better life. While metro cities offer easier access to world-class shopping malls and basic amenities, there are some downsides as well. The competitive life and high pollution levels may harm your health. Here are some health implications of living in a metro city:

1. Obesity: Busy lifestyle, lack of time to prepare healthy meals, and easy access to processed and fast food make obesity a common health issue among metro dwellers. Less physical activity and office jobs also lead to the condition.
2. Cardiovascular conditions:High pollution levels, unhealthy eating habits, high blood pressure, lack of exercise and obesity increase the risk of cardiovascular conditions in metro city dwellers.
3. Respiratory conditions: Many city dwellers suffer from respiratory conditions, such as asthma, bacterial pneumonia, tuberculosis, lung cancer, and viral infections due to poor air quality.
4. Stress and anxiety: Living in confined spaces, work pressure, busy lifestyle, lack of sleep, unhealthy eating habits, and financial problems often increase stress and anxiety levels in many. Studies have shown that stress and anxiety elevate the risk of obesity, heart conditions, diabetes, depression, Alzheimer’s disease, gastrointestinal conditions, and more.
5. Infections:Unhealthy lifestyle and high-stress levels among city dwellers harm the immune system and make them more susceptible to microbial infections and other conditions.

How much health insurance is sufficient for metro dwellers?

This tricky question does not have a universal answer. The amount of health insurance coverage you should choose depends on different factors, such as:

1. How old you are?
2. Where do you work?
3. Does your company provide you with health insurance?
4. Do you have any serious medical afflictions?
5. How many people you wish to cover in one policy? What is their medical history?
6. What kind of lifestyle you lead?
7. What is the average cost of hospitalisation in private/public hospitals in the metro?

For instance, here is a chart that shows the approximate cost of healthcare in metro cities:

A policyholder in his 30s is earning up to INR 30 lakh annually. He has taken a health plan of 5 lakh for a family of 5, including elderly parents. In case a family member suffers from dengue or pneumonia and the hospital bills are for 1.5 lakh, the insurance company will cover the costs. However, if there are multiple hospitalisations in the same year, this amount may be insufficient.

Hence, if you have elderly parents in the family or there is a family medical history, you should take a floater health plan of INR 10 lakh at least.

However, if you have taken a separate health plan for your parents or are covered by corporate group insurance as well, a health insurance floater policy of INR 7 lakh should be sufficient.

Health Insurance Plans for Metro Dwellers

1. Arogya Sanjeevani Policy

   If you are looking for affordable individual health insurance, this policy is just right. It offers basic health insurance coverage of 1 to 5 lakhat a reasonable premium. The plan covers hospitalisation expenses, pre and post hospitalisation expenses, daycare procedures, cataract expenses, dental treatment, COVID-19 treatment costs, and more.Arogya Sanjeevani Policyalso offers a family floater plan in which the family members of the policyholder are the beneficiaries.

2. Lifeline Health Insurance Plan

This is a holistic plan for individuals and families. You can choose from a wide range of sum insured options – from INR 2 lakh to INR 150 lakh. Lifeline Health Insurance Plan offers comprehensive health coverage and is perfect for meeting the varying healthcare needs of different family members.

Conclusion:

Until recently, a basic family floater health insurance of INR 5 lakh was sufficient for most city dwellers. However, considering the increase in lifestyle diseases and contagious infections, people are now opting for higher health insurance coverage. A family floater policy of INR 5 lakh is the bare minimum for metro dwellers aged between 20-50 years. If you are above 50 years of age, you must increase the coverage to INR 10 lakh or more.

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