The cost of medical inflation: How much health cover should you buy?

Agarwal feared the worst when his mother fell ill two years ago amid the covid pandemic. The Kanpur-based businessman, who declined to share his first name, was worried that she had covid. He was very concerned because his mother was more than 70 years old and so got her admitted to Max Super Speciality Hospital in New Delhi. This was in December 2021, and the hospital confirmed that she had lung infection and also gave him a rough estimate of the hospital expenses that he would have to bear:  ₹10 lakh for 10 days of hospitalization. But, there was bad news in store. On the fifth day, his mother died. The hospital bill totalled  ₹12.5 lakh, much more than estimated. His mother didn’t have any insurance and so Agarwal had to foot the bill from his savings.

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