Let's know about Health cover at the lowest annual Health Insurance 2023
Recently Mr. Entin Kut, Founder of Zera tweeted that purchasing a health insurance plan for the family is the most important financial investment you can make considering the cost of critical health events. He further said that before you do anything else in your personal journey, get health cover. As far as you can personally afford, I also think health insurance is the first thing you should take when starting your financial journey, while there is already a lot of awareness about health insurance, yet every year India Millions of people in the U.S. fall below the poverty line actually due to lack of health insurance. Nan Kut quantified the data in his tweet, where he said that about 8 to 9% of all Indian families fall below the poverty line due to health care costs.Â
Pushed below the poverty line, but today I want to address a big problem with health insurance, generally we take a health plan in the range of Rs 5 to 10 lakh. This is generally considered enough to cover accidents or minor surgeries or a few days of hospitalization, but what about serious health problems like cancer or heart problems, in fact I recently learned this for the first time. Have experienced many times and in my close family one of my father's close friend has been diagnosed with oral cancer do you know what was the cost of his treatment, it cost him Rs 25 lakhs and his treatment is still Continuing, it is very common for term plans to cap off the coverage of Rs 1 CR, but today I want to discuss about it. Health Coverage up to Rs 1 CR I am sure as soon as you think of health coverage worth Rs 1 CR your first reaction would be crazy premium, but today there are ways to offer a CR health coverage at a very nominal annual premium which Will win. It will not burn a big hole in your pocket, so in this video I will discuss more about who will need health coverage of Rs 1 CR and how you can get this health coverage at a nominal annual pre premium at the end of this video Are. Five bonus tips shared before buying a health plan, so watch this video till the end Well, let's start with the first question you might ask whether there is really a need for health coverage of up to Rs 1 CR as per the report Is.Â
Healthcare inflation in India to rise by 4% in 2019 increasing to 15% in 2022, in other words your health care cost can double in 5 years, so your cost today may be 5 lakh which may cost you 10 lakh next time and this amount will be much higher in future. Will increase. When we take any health plan in the coming years we have to keep in mind the future cost of the treatment, now this CR health plan is mainly useful in three cases, first if you have diseases in your family like cancer, heart disease etc. There is a history of serious illnesses. In such a situation it is better to be proactive and take higher health coverage to avoid any health care costs by breaking your life time savings, second when you have stress with targets and deadline lines due to increased work pressure in a corporate environment. Work is life, so many people today catch health related problems at a very young age and thirdly if your lifestyle is very unhealthy because today the major cost of health care treatment is due to the problem arising from our unhealthy lifestyle, Now I am sure you are the best judge of your lifestyle and decide accordingly whether you need higher health coverage or not, today there are already many health plans catering to higher health coverage let me show you an example For example, if you go to the Ditto platform, click on Health Insurance and then understand your policy, you will get the option to select the health insurer and its policy, so let's say you are using HDFC Ergo and Optima Restore. Let's select. And click on check now, it will show you the details of the health plan, it says that Optima Restore is now one of the most popular products in the table of SDFC ARO from Apple Munich, it covers most of the bases, it is affordable , There are no unpleasant situations in this, you can also read about this plan has good features like your insurance increases by 50% every year unless you make any claim during this period up to 100%, There is no co-payment clause,Â
    
so you always have full cover regardless of the illness. There is complete coverage, even if you are forced to get hospitalized at home, you can also read what is fine and what is lagging, Ditto not only to find out the health plans but in layman's language A great platform to understand about each policy because the biggest thing in the health insurance sector is the terms and conditions written in small print in a very long document, so Ditto platform helps you in breaking down those details and the pros and cons of the health plan. In fact, you can even set up a free 30-. Minute consultation call with their expert who can properly guide you with the right support plan, the best part is that they do not spam you with SMS and calls, in fact Ditto also by Mr. Nithan Kut, Founder of Zerodha Has been supported, it has also been placed at the third position. LinkedIn Top Top 20 Startups of India 2023 Now the most important question is how to opt for health coverage up to Rs 1 CR with nominal premium, so there are two options first is full base cover of Rs 1 CR and second option is combo A fixed amount pack with a super topup plan, full base cover of Rs 1 CR is straightforward, where your health plan covers the cost up to Rs 1 CR, although it may be a bit expensive in terms of annual premium, so You have option two. 10 lakhs With a fixed amount of Rs 1000 deductible for the health plan and then a discount for super topup up to Rs 9 lakh, this super topup option can give you higher health coverage at a nominal annual premium, however there is also a problem with the super topup plan . The Super Topper plan will only cover the cost of your treatment when your Aadhaar cover is exhausted, for example suppose your Aadhaar cover is exhausted is a health plan with a base amount of Rs 10 lakh and a super top up of Rs 40 lakh. Opted for the plan, now if your healthcare expenditure is Rs 25 lakh, the initial Rs 10 lakh will be used from the base suite and the remaining Rs 15 lakh will be used from the base suite.Â
Super Topup Plan Please note that you can purchase this Super Topup health plan on top of your existing health plan, there are multiple Super Topup plans available so if you are looking for a new health insurance then you can set up a call with the Ditto team can guide you properly about both the options of your combo plan of Fix Amur with super topup plan vs full base cover of Rs 1 CR or if you already have a health plan then you can opt for super Can go for Topup plan Please note that Super Topper plan can also be opted under Family Floater plan If you are confused between multiple health plans then you can also do a comparative analysis on Ditto platform where you can choose between multiple health plans. You can select and get all the comparative details like hospital network claim settlement ratio co-payment. clause and many other data points I personally find this feature very useful, now it's time for bonus tips, so the first bonus tip is after you select the health plan, always check the claim settlement ratio, let's say 98. % is the claim settlement ratio, it means that out. Out of 100 claims the company has settled 98 claims, needless to say the higher the claim settlement ratio the better it is, another bonus tip is that when you go out for a health plan Always ensure that there is no co-payment clause, for example if a health plan has no provision for co-payment. Payment clause of 20% means you have to pay 20% of the medical bill from your own pocket, so if you incur a medical expense of Rs 2 lakh then you have to pay Rs 40,000 from your pocket, so avoid this co -Payment section, then thirdly, fill the insurance form properly and do not hide your health problem, so while taking the health plan first of all you have to fill a form where you have to declare various details including your previous health records. The biggest mistake people make is that they Do not take that form seriously and neglect to fill the important details, sometimes people hide their past healthy issues to get a health plan at a lower premium or worse, they simply sign the form and Let the agent fill in the details.Â
This is the biggest reason for health claim rejection, please make sure you take the form seriously and fill all the important details and please do not hide any health problem because ultimately during the claim the health insurer will find out your past health records and your Claim will be made. If rejected, the fourth suggestion is that if you have elderly parents in your family, then take a separate health plan for them because your health insurance premium is decided based on the age of the eldest member in the family and if you Your health insurance premium will increase a lot if you include parents, so if you have a wife, children and elderly parents, it would be better to have two health plans, one family floater for your wife and children and the other family. Floater for your parents And the last bonus tip is if you have health insurance from your employer.
 It is better to have a separate health plan because as soon as you leave your job, you lose your health insurance policy and if something happens before you get health coverage from another employer, you will have to pay for it out of your pocket and at your new employer. Will have to be borne by the employer. The health policy will start from the beginning with a waiting period for certain diseases, so it is always better not to depend on the employer health plan and go for a different health plan. I hope this video will give you good clarity on how to prepare for high. Health insurance coverage up to Rs 1 crore, as discussed, you have two options, the first is to either provide full base cover of Rs 1 crore or the second option is a combo plan of fixed sum with super topup because Each of you will have a different one. Requirement it is better to take help of ditto expert with 30 minutes free call, believe me many people including my close friends have benefited from ditto advice, I have provided the link in the description, to make sure you You can also check their important checklist before investing your money. That you keep all the important parameters in mind before choosing a health plan for your family,
