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Why you need a 1 crore health insurance?

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Published on March 4, 2021. EST READ TIME: 3 MIN

Apart from various life-threatening diseases, the novel coronavirus pandemic has made it increasingly necessary to secure yourself and your loved ones against the uncertainties. In India, most middle-class households choose a sum assured of Rs 5-10 lakhs to pay a lower premium. However, if a family member suffers from a critical illness that requires long-term treatment and medication, the health plan will be inadequate, and you will be forced to spend a huge sum of money from your savings. The same is true for the COVID-19 pandemic as well. Also, if you have a big family,  one crore health insurance  plan is the best option to cover all family members. 

Why should you buy health insurance?

Health insurance helps you avail of quality treatment without fretting about the hospital bills. It offers many benefits, such as:

• Medical expenses for Hospitalisation Pre and post hospitalisation expenses

• Cashless home health care
  

• Day Care procedures

• Organ donor expenses

• AYUSH benefits

• Road ambulance charges

• Domiciliary hospitalisation

• COVID-19 treatment expenses

However, a health plan will not cover:

• Self-inflicted injuries

• Injuries suffered in war and defense operations

Why should you take one crore health insurance?

If you and your loved ones enjoy good health, but there is a family history of illness, taking a one crore health plan at an early age is a smart way to secure your future. An adequate health insurance policy comes in handy in case of a critical illness that requires long-term hospitalization The rising medical costs in India make it important to take sufficient health cover that can meet:

1. Cancer treatment expenses:  The cost of cancer treatment and drugs can burn your savings in no time. However, if you have one crore health plan, you can access quality healthcare as your insurer will meet the hospitalization and treatment expenses. This includes the cost of surgery, chemotherapy, radiotherapy, and more.

2. Cost of organ transplantation:  These costs may go up to several lakhs, but you need not worry if you have a sufficient health plan. All you need to do is inform the insurer and avail of cashless hospitalization in a network hospital. You can also choose a non-network hospital and file a claim for reimbursement later.

3. Cost of a Major surgery and treatment of a Major illness :  I In case you or covered family members have to undergo any major surgery like the Heart bypass surgery, having one crore health plan will help you meet these high cost Treatment expenses

Apart from these, the cost of dialysis in Renal failure cases, all other major surgeries, and other life-threatening diseases can quickly extinguish your savings if you do not have adequate family health insurance. 

Who should take one crore family health insurance?

1. Family history:  If there is a family history of a major or a critical illness, the probability of you or other family members getting are higher in some hereditary disease conditions  . For instance, the risk of getting diabetes and other heart conditions increases if there is a family history of these diseases. Hence, you must take adequate health cover to deal with medical emergencies in the future.

2. If you or other family members are over 40 years of age:  People who are 40 years and above are more vulnerable to various ailments and disease conditions. Hence, an adequate health plan is essential to avail quality treatment. Considering a significant rise in lifestyle diseases among youngsters, it is wise to take a family health plan in your 30s itself.

3. If your work is stressful:  A stressful and unhealthy work atmosphere increases the chances of lifestyle diseases and other conditions. Hence, apart from maintaining a proper balance between personal and professional life, you should also buy an adequate family health plan. Make sure the plan covers critical illness to prevent financial issues in the future.

4. If you are the only earning member:  An adequate health cover is important if you are the sole earner in the family. In case there is a medical emergency, the health plan will save you from financial and emotional distress.

Choose my:health Koti Suraksha family health insurance

When it comes to securing your family's future, our  my:health Koti Suraksha   one crore health insurance is an ideal option. If you or your family unfortunately suffers from a major or critical illness or requires a major surgical treatment or organ transplantation**, this one core family insurance plan will cover all treatment expenses mentioned in the policy document. What's more, the plan covers COVID-19 treatment as well. You can pay the premium in easy installments and save up to Rs 1 lac under Section 80D of the Income Tax Act* . 

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

*For tax benefit of upto 1,00,000, both individual / family and parents should be above 60 years of age (ii) For tax benefit of upto 75,000, Individual and family should be below 60 years but parents should be above 60 years (iii) For tax benefit of upto 50,000, Individual and parents should be below the age of 60 years and the above is subject to change in tax laws. ** Organ transplant expenses covered up to 5% of Sum Insured in Platinum Plan. HDFC ERGO General Insurance Company Limited. Registered & Corporate Office: 1st Floor, HDFC House, 165-166 Backbay Reclamation, H. T. Parekh Marg, Churchgate, Mumbai – 400 020. Trade Logo displayed above belongs to HDFC LTD and ERGO International AG and used by HDFC ERGO General Insurance Company Limited under license. For more details on the risk factors, terms and conditions, please read the sales brochure/prospectus before concluding the sale. UIN: my:health Koti Suraksha - HDFHLIP21131V012021 IRDAI Reg. No.146 CIN: U66030MH2007PLC177117. UID No. D2-35