sum insured in health insurance policy to take care of medical contingencies. The meaning of adequate sum insured changes year after year due to inflation.
Medical inflation in India is quite high. Care Health Insurance's 'Care Shield' takes into account Consumer Price Index (CPI) inflation rate at the time of policy renewal every year.
Care Shield increases the sum insured at the time of renewal as per the CPI inflation rate for the previous policy year declared by the competent government authorities.
This ensures the customer’s policy sum insured is adequate to meet future treatment expenses.Care Health Insurance (formerly Religare Health Insurance) launched 'Care Shield' in the first week of December.