Also Read | Why insolvency pros are living on the edge“On account of rising medical inflation estimated at 15% per annum, the cost of healthcare has been rising steadily since last one decade or so.
With rising healthcare costs, not having a health plan irrespective of an individual’s age – can be risky," said Pallavi Roy, Executive Vice President (Product Development), IFFCO Tokio General Insurance. “One can never be sure when an illness will strike, leaving you with huge medical bills.
If not prepared, a single instance of hospitalization can very well disturb a family’s well-calculated budget," she said.Sum insured should also depend on one's residential city, history of family illnesses etc.