Health Insurance for Mother (age - 64 years)
Mother had health insurance policy of Sum insured of 3.5 lakhs. It was bought at the age of 60. Premium costed around Rs.34k for three years. Now her age is 64 and premium is higher and costs Rs.55k for 3 years.
Policy is under Manipal Cigna.
As the sum insured is less, wanted to have atleast Rs.20L coverage. But changing sum insured to Rs.15L was resulting in a premium of Rs.1.7L for 3 years. So chose to buy two super top policy resulting in a total sum insured of Rs.20L.
Base - Sum insured 3.5 lakh
Super top up - Sum insured of 6 lac with a deductible of 3.5 lakh
Super top up - Sum insured of 10 lac with a deductible of 7.5 lakh
Total policy premium worked out to Rs.75k for 3 years. All three policies are under Manipal Cigna.
I have purchased the above combination last year. Is it fine considering the age and rising medical costs, please advise?