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How to decide SI for individual health plan?

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18 Jun, 2022 by  A

We have thumb rule of minimum 10x annual salary for buying a term plan.

Is there any thumb rule for choosing SI for individual health plan?

Suppose, I buy a plan with SI of 5Lac then after how many year should I upgrade the SI considering the fact that medical expenses are rising.

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Health Insurance

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Depending on your age, one should ideally understand that inflation will play a big role in affecting health expenses during your age.

Younger you're more inflation will impact you

Need for health insurance drastically rises as you get aged or suffer a chronic illness.

The choice of upgrading the SI should be exercised every 4-5 years as medical inflation is well over 10% in this country.

Ideal coverage should be 10 lacs to start with today as that covers atleast 70-80% of hospitalization costs.

It is important to be mindful and be aware of these aspects to start with.

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19 Jun, 2022
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You already know that inflation will rise.

Heath inflation will rise much faster

Ideally choose the highest you can afford so that you are covered for next 20 years

Minimum take SI of 10 Lakhs, mean claims during Covid were in the range of 6-8 Lakhs in decent hospitals

Buy Insurance Mindfully

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Komal Jain

Qualified Personal Finance Professional ®

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19 Jun, 2022
CEO, Insurance Samadhan


Thumb rule for Health Insurance is simple that have a health cover as soon as possible .

You should not be without a cover .

Sum assured can be chosen as per your age , city and probable medical expense .

Ideally have a cover of Rs 2 lakh and buy a super Top up of rs 20 lakh with rs 5 lakh deductible .

This would be a right combination.

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