Health Insurance for 65 year old diabetic father
My father has an old health insurance policy from United India with coverage of Rs. 5 lakhs. He is 65 years of age and diabetic. We pay a premium of Rs. 15,859 per year.
I would like to increase his coverage and our agent says the only option we have (since he became diabetic after getting into the current policy) is to opt for a completely new like HDFC Ergo (Apollo Munich earlier) Energy plan. The premium comes to Rs. 50,000+ for 10 lakhs coverage and will increase to Rs. 70,000+ from 66 and onwards.
Do you think this is a good idea?