Medical inflation is increasing day by day which results in high medical expenses. Hence, it is necessary to choose a health insurance policy that caters to the needs of customers. This is because having a policy will help a lot to get coverage during critical situations. Another thing is that it gives ways to reduce the financial burden when it comes to treatment costs to overcome mental worries. At the same time, customers should consider choosing health insurance plans 1 crore because they allow policyholders to choose a high sum insured amount for coverage purposes. At the same time, it is wise to know more about the plans in detail before investing money.

Is it necessary to buy a 1 crore health insurance policy?

Nowadays, several options are available for customers when they want to buy a new policy from the markets. They think that buying a health insurance policy with a high sum insured amount is not necessary which is not true. Most insurers offer policies starting from Rs.1 lakh to Rs. 50 lakhs for new policy buyers. On the other hand, they don’t cover certain things offered by a 1 crore policy.

What are the reasons to go for a high sum insured insurance policy?

One of the main reasons to buy a 1 crore policy is that it offers wide coverage for insured persons. Medical technologies are advancing day by day and they will cost more after getting admission to a hospital. Having a high sum insured amount enables a policyholder to ensure the best medical treatments in listed hospitals to ensure peace of mind. Apart from that, it gives ways to claim amounts with ease thereby helping to prevent savings amount from draining.

When to choose a 1 crore health insurance policy?

Buyers can select a 1 crore health insurance policy if they meet the below-mentioned criteria.

• Having the ability to afford high premiums
• When they have a family history of critical illnesses and need highly expensive treatment in the future
• Leading a sedentary lifestyle at a young age
• A policy buyer is the only earning member of the family who takes care of others
• Above 40 years of age because they are more vulnerable to critical illnesses
• Visiting overseas countries often in a year
• Coverage for family members to protect them from financial crunches

What are the features covered by a 1 crore life insurance?

A 1 crore life insurance policy provides several features for policyholders after buying it from a company. The plan offers coverage against hospitalization expenses allowing a policyholder to claim amounts as soon as possible. Some other features offered by the plan include pre and post-hospitalization, daycare treatment, ambulance coverage, Covid-19 hospitalization, AYUSH coverage, organ donor expenses, etc. It is ideal for those who want to reduce the stress after admitting a patient to a hospital. Apart from that, the policy offers coverage for critical illnesses such as cancer, heart disease, stroke, liver failure, etc.

Is buying a 1 crore health insurance policy expensive?

A majority of policy buyers think that the costs of 1 crore health insurance plans arehighly expensive when compared to other plans. On the other hand, they are affordable allowing a policyholder to get financial stability. Insurance companies offer monthly, quarterly, half-yearly, and annual payment options for policyholders that will help save time. Besides that, customers can compare the prices of policies online before investing money. This, in turn, gives ways to select a policy that suits the requirements of a policyholder.

Does 1 crore health insurance have any co-payment and waiting periods?

All health insurance plans have a co-payment and policyholders should pay a percentage of the amount from their pockets. 1 crore health insurance plan has a co-payment of 20% and it is applicable only for those who are above 61 years old. The plan also has a waiting period of 30 days for pre-hospitalization and 60 days for post-hospitalization. Also, it has a waiting period of 48 months for pre-existing illnesses and 24 month waiting period for specific ailments. Therefore, it is wise to know them before buying a policy.

Where to buy a 1 crore health insurance policy?

While buying a new health insurance policy, customers should keep certain things in mind to meet their essential needs. They should consider selecting a reputed company in the markets when investing money. Care Insuranceoffers a 1 crore health insurance plan for individuals with a floater option. The company offers huge discounts for new customers when they want to buy the plan online. It even guides customers with professional teams that will help avoid complications. The policy includes a no-claim bonus when policyholders don’t claim amounts within a policy year. It is a lifelong renewability plan with no maximum age limit allowing a person to enjoy the benefits for a long-time.