*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
They say if health is lost, everything is lost, which has been proved many times. With health-related issues rising at a rapid pace, the number of hospitalisation cases has been increased considerably. When a single hospitalisation can wipe off someone’s a major part of savings, having a health insurance cover is imperative to stay protected. Health Insurance is a guarantee to take care of a good proportion of the financial burden if one may be medically unfit. Moreover, one can’t have a hold on fate. The latest outbreak of Coronavirus can be a good example in this regard. In a time where a pandemic strikes the world, and it comes to a halt, a health insurance plan with a sufficient cover can be an ultimate saviour.
In a country like India, 70% of people are still uninsured or underinsured, either because they are unaware of the benefits or 80% of them find it sufficient enough to be covered by the employer-owned health insurance plan.
A report from WHO undermines the rate of health insurance bought in a highly populated country like India. So, it should be made mandatory for each family to have a health insurance plan to take care of futuristic medical contingencies. However, the concern is that despite having health insurance, many a time policyholders remain underinsured.
What is the solution then?
One of the best options is to buy a 1 crore Health Insurance Plan from a reputed health insurance provider.
But before digging into detail, let’s understand the need for such a high sum assured and the benefits we can avail from it.
If we consider the below reasons, it is quite clear how important having health insurance these days is.
Nearly 1500 people die every day because of critical illnesses like cancer, tumors, heart-related issues, kidney, and liver failure. Chronic diseases like blood sugar, hypertension, high and low blood pressure put many people at risk, and the cost of covering these ailments is increasing day by day.
As per the recent facts and figured identified, 89% of health issues costs are borne by people out of their income instead of being paid through insurance. This is an alarming figure, knowing that the prevalence of major illness and ailments in our country and cost is still paid from the individual's pocket.
Cost of major critical illness in India
Ailment |
Approximate Cost |
Chemotherapy – per session |
Rs 60000 to 2 Lakh |
Chemotherapy – cumulative 6 sessions |
Rs 20 lakh |
Angioplasty |
Rs 2 – 4 lakh |
Liver Transplant |
25 – 40 lakh |
Breast Cancer Surgery |
Rs 6 – 10 lakh |
Lung Transplant |
15 – 30 lakh |
Other expensive procedures like organ transplants, heart-related problems, and cancer in a very advanced state can cost more than Rs 50 lakh. In a fatal disease like cancer, if we include other costs like medicines, tests, immunotherapy drugs, the entire cost to treat the deadly disease can easily reach Rs. 1. So, it is highly recommended to purchase a high-value Health Insurance of Rs. 1 crore.
It is believed that certain chronic illnesses such as diabetes run through the generations as hereditary illness. People with a family history of cancer, heart attacks, blood pressure, and sugar-related diseases or cardiovascular diseases are more prone to contracting the same after a certain age.
A higher amount of health insurance coverage should be taken from a very early age to avoid paying a higher premium to cover oneself against hereditary diseases.
Considering the lifestyle, eating habits, inorganic food, social elements, and enemies like drinking and smoking, which is now a social virtue, and a sedentary lifestyle, especially after a certain age, increases the risk of contracting various diseases. Thus, it makes it imperative for the individual to purchase a high-value health insurance policy. Even youngsters these days, because of the nature of their desk jobs, lack of exercise and unhealthy meals are suffering from various ailments at a very young age. This needs to be covered, and post 40 is an age when the chances of getting one of the critical ailments are the maximum.
Another factor to buy health insurance early to avoid paying a huge amount of premium towards it. To understand this let’s consider the below illustration table, which recommends to by health insurance at an early age:
Age |
Sum Assured |
Male |
Female |
21 - 35 |
1 crore |
Rs 23-33000 per annum |
Rs. 25500 – 36830 per annum |
36 - 50 |
1 crore |
Rs 34410 – Rs 53850 per annum |
Rs 37810 – Rs 51270 per annum |
51 - 65 |
1 crore |
Rs 55990 – Rs 83690 per annum |
Rs 53240 – Rs 77500 |
*Gender pricing varies taking maternity and pregnancy benefits into account
There was a time when treatment costs for common health issues were not more than Rs 50000 to 1 lakh including hospitalisation expenses. But now, the cost of healthcare treatment is unimaginably rising, which is unaffordable for the common people. To avoid such a stage wherein even the pocket won’t allow the person to get treatment for the disease, a health cover of Rs 1 crore should be bought and thus safeguards one’s savings during the times of medical inflation.
Family always comes first to everyone. Considering this, it becomes mandatory to secure the health of every member to avoid any kind of financial distress or losses in case of a medical emergency. It is always better to take a high-value insurance policy like a 1 crore insurance plan to cover the entire family and protect the bread earner against financial losses arising out of medical contingencies.
Hypertension, psychological problems, and depression are common these days. A person may be financially sound, but if his mental health degenerates, there is nothing that can help him as negativity prevails, and his sole purpose is to end his life. A high-pressure job, disturbing relationships, and monetary issues can have a devastating effect on the person’s mental health, leading to irrecoverable and expensive medical issues. To avoid the same, one must purchase a long term 1 crore health insurance policy.
Some of the common features of these policies are:
Some of the alluring benefits offered by this policy are:
Insurer |
Plan Name |
Sum Assured |
Entry Age limit |
Aditya Birla |
Activ Health Platinum Enhanced |
2 lakh to 2 crores |
91 days plus |
Bharti AXA |
Smart Super Health Insurance |
5 lakh-1 crore |
90 days onwards |
Edelweiss Health Insurance |
Gold and Platinum Plan(s) |
20 lakh – 1 crore |
90 days to 65 years |
Future Generali |
Total Mediclaim Insurance |
Up to Rs 1 crore |
No age bar |
Max Bupa |
Heartbeat Family Floater Plan |
15 lakh – 1 crore |
18 – 65 years |
Royal Sundaram |
Lifeline Elite Plan |
25 lakh – 1.5 crore |
18 years and above |
Disclaimer: *Paisawiki does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
An individual must consider the following factors before investing in a good insurance company for a health cover of Rs. 1 crore:
Premium calculated is determined based on various factors like age, gender, medical report, policy term, additional riders, and many more, which may vary from person to person.
Any person who has a family history of critical illnesses, who can well afford the premium at any given age, a person who is the sole bread earner of the family and depending on the situation and income of the person, one must invest in this high-end insurance policy. It would not be wise to depend on the employer policy as it may not be sufficient in terms of benefits and coverage offered. A customized health plan covering the entire family is the best suggested.
The differences are:
Critical Illness Health Insurance Plan |
Cancer Insurance |
A lump-sum amount is granted in case of a diagnosis of a terminal illness, which can further used for recuperation, employment substitute, education for children. |
This covers all expenses related to only cancer. The amount can be used as a substitute for income and to pay for medical expenses. |
Cover a listed number of critical diseases |
Covers pre, early, major, and crucial stages of cancer treatment |
Most appropriate for people who are in the risk of contracting a critical illness |
Most appropriate for people who are at risk of contracting cancer |
Can be added as a rider |
Can be added as a rider, however standalone policy is available |
Long term – 20 years |
Long term – 20 years |