When to increase health cover

If you had bought a health cover five years earlier, there is a good chance your sum assured would be Rs 2-3 lakh. With the cost of medical treatment jumping 15 to 20 per cent every year, a cover of less than Rs 5 lakh will not be sufficient in case of hospitalisation. In case of a severe disease you would easily need Rs 8-10 lakh. Hence, it is of utmost importance to review your health insurancecoverage, says Manasije Mishra, chief executive officer of Max Bupa Health Insurance. A need to upgrade insurance cover arises, typically with increase in responsibilities and liabilities. Mishra advises upgrading your cover if you are still on a plan of less than Rs 5 lakh or when responsibilities like childbirth or additional expenses like home loan come up. If you are over 35 years and still depend on your employer for health insurance, you might need to increase your health cover  http://www.myallagents.com/When-to-increase-health-cover/details.html