Scene: Aarti and Riddhi are sitting in a restaurant having lunch. Aarti, a working mom, is confused about how much health insurance she really needs?
Aarti: Riddhi, I saw some insurance companies offering ₹1 crore health coverage. That sounds like a lot! Do I really need that much?
Riddhi: Not necessarily! A ₹1 crore policy is just like a regular policy, but with a higher coverage amount. It covers hospital bills, surgeries, and major treatments.
Aarti: Hmm… but isn’t more coverage always better?
Riddhi: Let’s compare it to grocery shopping. Would you buy 50 kg sac of rice for your family when you only need 10 kg a month?
Aarti: No, that would be a waste!
Riddhi: Exactly! Similarly, a ₹25-30 lakh health cover is usually enough for major treatments like heart surgery or cancer treatment.
Aarti: But medical costs are rising. What if ₹25 lakh isn’t enough in the future?
Riddhi: Good point! That’s why some policies offer an automatic reinstatement( like an automatic restore option) feature. Imagine your phone data plan—if you use up your daily limit, some plans automatically give you more data for the day.
Aarti: Oh, that’s helpful! But is there a catch?
Riddhi: Yes, some insurers have a cooling-off period before they restore the coverage, and it doesn’t help if you need it for a long-term treatment.
Aarti: So, if I need multiple rounds of expensive treatment, I could still run out of coverage?
Riddhi: Right! That’s where a super top-up plan can help you.
Aarti: What’s that?
Riddhi: Think of it like a food delivery subscription. Instead of paying a huge amount upfront, you pay for basic deliveries and add extra when needed.
Aarti: So, I can take a smaller base policy, like ₹10-25 lakh, and add a super top-up?
Riddhi: Yes! It’s much cheaper than buying a ₹1 crore policy directly.
Aarti: But what’s the downside?
Riddhi: You’ll have to deal with two insurers when filing claims—one for the base policy and one for the top-up. It’s like billing groceries at two different counters instead of one. But, to avoid this you can take the base plan from the same health insurance company as your super top up plan. That will save you from unnecessary hassles.
Aarti: That sounds good.
Riddhi: If saving money is a priority, it’s a great option. If convenience matters more, a direct ₹1 crore policy is better.
Aarti: Got it! A ₹25-30 lakh policy sounds like a good balance, and I can add a super top-up if needed.
Riddhi: Exactly! Choose what fits your pocket and comfort level.
Simplified Money Talks 