Money9 Helpline | Choosing the right health insurance policy

Sudip Bhattacharjee: We are a family of three and are covered by a health insurance policy worth Rs 6 lakh. In the current scenario, should we increase the policy cover to Rs 10 lakh or buy a corona-specific policy?

Amit: If you take a corona-specific policy, it will help you incur only covid treatment finances. I will suggest that you take a comprehensive health plan, that gives you maximum coverage.

Shivain Amin, Jamnagar: I am getting an insurance cover of Rs 1.5 lakh from my office, I believe it is very less. My parents are also included in this. Should I buy an individual policy cover? How much should it be?

Amit: I will advise you to buy an individual life-long policy, without any dependence of office. The insurance cover of 1.5 lakh that also includes your parents is very less. Especially at times when a one-day hospital bill for treatment of covid and other diseases might cost a lakh. I would say that you should buy two separate policies one for yourself and one for your parents. These policies should have at least Rs 10 lakh coverage.

Soumya Das, Kolkata: I am a private tutor and live with my 70-year-old mother. We have health insurance cover of Rs 5 lakh each. Is it sufficient in the current scenario?

Amit: Calcutta is a fairly expensive city. Since you stay there, I will suggest you increase coverage of your policy. You should have at least Rs 10 lakh cover insurance plan for your mother and Rs 1 crore cover for yourself.

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