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  • News From Press Sum assured increase from Rs25 lakh to Rs50 lakh will not double your insurance premium

    Sum assured increase from Rs25 lakh to Rs50 lakh will not double your insurance premium

    Source: Mint Apr 18, 2017

    Why should I consider buying a high sum assured on my family health insurance plan? Would I practically need a sum assured of more than Rs5 lakh? Most hospitalizations and medical procedures cost much less. For example, a cataract operation does not cost even Rs50,000.

    —Ramdhari Negi

    A large number of routine hospitalization incidents cost significantly less than Rs5 lakh. However, you should still consider a high sum assured on family health insurance for four reasons.

    First, insurance is not only taken for routine hospitalization but also for complicated surgeries and life-threatening illnesses. In several situations, such as brain haemorrhage or cancer, the cost of treatment can be more than Rs20 lakh.

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