How Much
Health Insurance Cover
Do You Really Need?
As medical inflation spikes, a health insurance policy is a necessity to keep yourself financially protected against emergency diagnoses and expensive treatments.
MyRupia’s Health Cover Calculator helps you determine how much coverage you and your family need.
Calculator
Benefits of Using a Health Cover Calculator
A health cover calculator comes to your aid in multiple ways.
Helps in Cost Comparison
Knowing the extent of health coverage you require helps you compare costs across insurers. A health cover calculator enables you to estimate the premiums you’ll need to pay from time to time when you opt for a specific insurer. Such cost estimation prevents surprises when your policy is being issued and keeps your pocket aligned with your needs.
Prevents Underinsurance
The central purpose of buying a health insurance policy is to prevent out-of-pocket expenses when emergencies arise. A health cover calculator helps you determine just the amount you need to remain properly protected against such expenses. You avoid being underinsured and are able to navigate finances in a stress-free manner during unexpected diagnoses.
Aids in Budgeting
Your health insurance portfolio and the premiums you pay toward it take up significant space in your annual budget. With a health cover calculator, you can conduct a cost-benefit analysis before buying the policies and riders you need. This helps you budget realistically for the long run.
Finding the Health Coverage You Need
Find the ideal health coverage you need with the MyRupia Health Cover Calculator.
Typically, individuals require lower coverage than families or people with Pre-Existing Diseases (PEDs).
Policyholder | Estimated Coverage |
Individual | ₹10L |
Families | ₹20L – ₹25L |
Senior Citizens or People with PEDs | ₹25L or above |
Disclaimer: These are estimated coverages, and actual coverage should be chosen based on respective insurance needs and financial situation.
Factors to Consider When Buying Health Insurance
Consider a few basic factors before signing up for a specific policy.
Medical Inflation
Healthcare costs are rising at a steep pace. This means that while your health insurance coverage may seem adequate today, five years down the line, that same math can look completely different. Your health insurance policy may become inadequate and fall short of covering your medical costs, unless you account for medical inflation.
Insurer’s Hospital Network
A health insurance plan with a wide network of hospitals makes healthcare more accessible, especially during an emergency. Most insurers today ensure a wide network of hospitals and healthcare facilities so you can access cashless treatment. Documentation is smooth, and payments are hassle-free when your insurer has an extensive network.
Co-Payment Clauses
Health insurance plans with co-payment clauses require the insured to make a part of the payment during claim settlement. This typically reduces the premium amount you’re required to pay. It’s important to inform yourself on the policy details to ensure that you’re not missing out on crucial coverage due to co-payment clauses.
Waiting Period
A waiting period clause in your health insurance plan means the insurer can refuse to accept non-accidental claims during a specified period. This clause usually applies when a policyholder has PEDs, such as diabetes and thyroid issues. A low waiting period means higher savings and minimal out-of-pocket expenses.
Choose the Health Cover You Need
Determine the health coverage you and your family require with our Health Cover Calculator and speak to an independent advisor for assistance. Our advisors help you with:
- The calculator result
- Existing health insurance policies
- Existing critical illness riders
- Policy terms and details
- Mis-selling concerns
- Family health insurance planning
Pay only for the consultation time and make informed decisions toward a healthy future.
Frequently Asked Questions
1. Is psoriasis covered under health insurance plans?
Whether or not psoriasis is covered under your health insurance plan will depend on your insurer. Typically, most health insurance plans in India cover psoriasis under their list of inclusions. Go through the policy document carefully and connect with your insurer in case it’s not included.
2. What is a sub-limit in health insurance?
View a sub-limit as the upper ceiling of the financial protection an insurer provides you based on your health insurance plan. They are pre-determined caps on certain types of medical expenses, such as room rent and pre or post hospitalisation limits. In case you incur medical expenses beyond the specified sub-limit, you will have to pay them out of your pocket.
3. How do I invest smartly in health insurance?
Starting early and optimising your base health insurance policy with super top-up plans can prove to be smart and cost-effective. Moreover, you can maximise tax benefits based on your premiums.
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