- Definition
- High-value Health Plans
- Features & Benefits
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What Is High-Value Health Insurance?
Gone are the days when a sum insured of INR 10 lakhs was enough to cover you and your family against medical expenses. Given the rising medical inflation, it is important to invest in high-value health insurance. Now you may ask what is high-value health insurance? How will it help me, and should I invest in one?
Allow us to answer all your questions effectively so you can make the best purchase decision for yourself and your family.
A high-value health insurance is a health plan which offers coverage against advanced medical treatments, that may be expensive for a basic health plan to cover. Typically for high-value health insurance the sum insured goes up to INR 1 crore. Such plans protect your pocket from the hefty medical bills caused due to advanced medical treatments, or life-threatening illnesses.
Key Takeaways
- A high-value health insurance is a health plan typically with a sum insured of INR 1 crore or more.
- Efficient in covering you against life-threatening ailments, and providing global healthcare amongst other features.
- Ideal for those with a single earning family member, and a history of illnesses like cancer, heart ailments, or others.
- Some of the best-selling high-value health insurance plans are offered by Star, Care, Aditya Birla, and other leading health insurance providers.
Best Selling High-Value Health Insurance Plans
Below are some of the best-selling high-value health insurance plans you must look at before buying health insurance:
| High-Value Health Plan | Sum Insured (In Rs.) | Key Features |
|---|---|---|
| Niva Bupa Aspire | Up to 1 Crore | Covers maternity, IVF, and legal adoption Pay premiums as per your entry age till you claim Avail cashback after every claim-free year |
| Star Health Assure | Up to 2 Crores | Emergency road ambulance Organ donor expense cover Star wellness programs |
| Care Supreme | Up to 1 Crore | Unlimited automatic recharge Unlimited e-consultations Optional benefits |
| Aditya Birla Activ One Nxt | Up to 2 Crores | Protection against medical inflation There is no capping on expenses like room rent, ICU charges, etc. Refills your cover up to 100% |
| Care Critical Mediclaim | Up to 2 Crores | Covers 32 defined CI Surgical procedures covered Lifelong coverage |
Features Of High-Value Health Insurance
Let us understand the features that set high-value health insurance apart from regular health insurance plans:
- Extensive Coverages
Extensive coverage includes critical illness coverage, maternity coverage, modern treatments, daycare procedures, and more providing effective and comprehensive health care. - No Room-rent Limits
A high-value health insurance plan comes with no room-rent limits and higher coverage for other medical treatments like maternity and child care limits, AYUSH treatment sub-limits, and more. However, sub-limits may vary from plan to plan. - Access To The Best Overseas Medical Care
High-value health insurance plans allow you to seek medical care across the globe without worrying about finances - Safeguard Your Finances
Higher coverage means lesser out-of-pocket expenses as all the medical treatments will be covered by your health plan as per the terms and conditions. - Additional Benefits
High-value health insurance plans come with additional benefits such as wellness programs, loyalty discounts, webinars with health professionals/doctors, personal coaches, and more.
Is High-Value Health Insurance Worth It?
A health insurance plan is no longer a luxury but a necessity and we all know that. It is essential to invest in a high-value health plan as it is an efficient tool for protecting your hard-earned savings. In case you face complications with your health, high-value health insurance is your shield against ever-increasing medical bills.
Who Should Buy High-Value Health Insurance?
Investing in a high-value health insurance plan depends on your income, your liabilities, your dependent family members, medical history, lifestyle, and other important factors. However, you must invest in a high-value health insurance plan if:
- You are a frequent traveller
- You have an unhealthy lifestyle
- You are prone to life-threatening ailments such as heart ailments, cancer, etc.
- If you have a job that involves life-threatening situations
- If you simply want health coverage with a large sum insured amount
Wrapping It Up
It is best to understand the terms and conditions of a high-value health insurance plan before investing in one. Not everyone needs a high sum insured and must not pay extra premiums if not required. However, investing in a high-value health insurance plan has its pros for those who have a family or are going to start a family.
Read the policy documents carefully, and if you are still confused connect with our PolicyX insurance experts for the best advice.
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High-value Health Insurance : FAQs
1. Is 5 lakh sum insured enough for health cover?
Not everyone will be able to fulfil their medical care needs with a base coverage of INR 5 lakhs. In today’s day and age when health care costs are consistently on the rise, it is not a bad idea to invest in high-value health insurance.
2. Is high-value health insurance expensive?
Premium calculation for a high-value sum insured depends on various factors such as your age, income, lifestyle, medical history, and more. Normally, a health plan with above 1 Crore SI will have a higher premium amount than a health policy with 10-25 Lakhs SI.
3. Should I Invest in a high-value health plan?
Yes, if you have dependents, or are the only earning member in your family you must invest in a high-value health insurance plan.
4. Is cashless hospitalization available in high-value health insurance?
Yes, high-value health insurance plan provides cashless health insurance plans to all insured individuals and families as per the terms and conditions of the policy.
5. Can I customize my high-value health insurance plan as per the requirements of my family?
Yes, you can customize and add features as per your needs and requirements in a high-value health insurance plan.
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Written By: Simran Kaur Vij
Simran is an insurance expert with more than 4 years of experience in the industry. An expert with previous experience in BFSI, Ed-tech, and insurance, she proactively helps her readers stay on par with all the latest Insurance industry developments.
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