Health insurance is an indispensable pre-requisite of a modern life that grapples with multiple health deteriorating stressors every day, including lifestyle imbalances and degrading air quality.
An adequate medical insurance cover can take care of diagnosis, treatment and healthcare in the most affordable as well as dignified manner.
In recent times, medical inflation increased at varied rates – 8-23 percent in different states. With consistent rise in cost of medicines, medical tests, in-hospitalisation and consultation fees, the sum assured requirement for your family is thus bound to change, and keep increasing.
With evolving life stages, fluctuating incomes and inescapable inflation, it is a good practice to review your family’s health insurance needs every three years.
Let’s assume that, on an average, medical inflation impacts cost of hospitalisation at 15 percent. So, the treatment that costs Rs 4 lakh today in the hospital will cost Rs 16 Lakh after 10 years.
