Is Higher Health Cover Worth Buying?
Bangalore: Nowadays there has been a growing demand for health insurance, especially in the developing nations which has placed an enormous upward pressure on the cost of health insurance. Despite the rising medical costs I am sure you wish to have the perfect health protection for you and your family. It is common to find most of us have cover upto 5 Lakhs by paying bulky premiums but we have considered buying a health insurance cover of 
10 Lakhs, 15 Lakhs or something more expensive than this.
The reason why we are talking of higher health cover is because a standard health covers does not cover outpatient or day care expenses unless they are related to treatments for certain critical illnesses. In addition to this the premiums for a 3 Lakh cover add up to 3,000-4,000 a year for the ones who fall between the age group of 18-35 years.
ICICI Lombard, Max Bupa and Apollo Munich are a few health insurers who take an advantage of advantage of the unutilized tax breaks, and provide plans with higher premiums that offer cover for outpatient. Unlike standard plans, in this plan all hospitalization-related expenses are covered, including pre-existing illnesses, after the specified waiting period, generally up to two years, during which claims cannot be made. Plus under this you have get the facility to pay for planned medical expenses or other expenses like dental treatment, pregnancy-related expenses. On submission of the bills, the insurance company will reimburse the amount spent subject to the sub-limits built into the policy.
But be careful while choosing your policy. You need to confirm that you are making the right choice by going through the list of exclusions, check the expenses that are not covered the sub-limits applicable on the benefits granted.
10 Lakhs, 15 Lakhs or something more expensive than this.
The reason why we are talking of higher health cover is because a standard health covers does not cover outpatient or day care expenses unless they are related to treatments for certain critical illnesses. In addition to this the premiums for a 3 Lakh cover add up to 3,000-4,000 a year for the ones who fall between the age group of 18-35 years.
ICICI Lombard, Max Bupa and Apollo Munich are a few health insurers who take an advantage of advantage of the unutilized tax breaks, and provide plans with higher premiums that offer cover for outpatient. Unlike standard plans, in this plan all hospitalization-related expenses are covered, including pre-existing illnesses, after the specified waiting period, generally up to two years, during which claims cannot be made. Plus under this you have get the facility to pay for planned medical expenses or other expenses like dental treatment, pregnancy-related expenses. On submission of the bills, the insurance company will reimburse the amount spent subject to the sub-limits built into the policy.
But be careful while choosing your policy. You need to confirm that you are making the right choice by going through the list of exclusions, check the expenses that are not covered the sub-limits applicable on the benefits granted.
