WHY SHOULD YOU CHOOSE A HIGHER SUM INSURED

**WHY SHOULD YOU CHOOSE A HIGHER SUM INSURED**

In today's fast-paced world, where health risks are on the rise, it is essential to have a comprehensive health insurance plan that provides adequate coverage. One of the key factors to consider when choosing a health insurance policy is the sum insured. The sum insured refers to the maximum amount that an insurance company will pay for medical expenses incurred by the insured individual. While it may be tempting to opt for a lower sum insured to save on premiums, there are several compelling reasons why choosing a higher sum insured is a wise decision.

Firstly, the cost of treatment in metros is significantly higher than in non-metro cities. Studies have shown that the cost of medical procedures in metros can be 25-30% higher than in non-metro cities. This is primarily due to the higher cost of living, infrastructure expenses, and the availability of advanced medical facilities. By opting for a higher sum insured, individuals can ensure that they are adequately covered for the higher treatment costs associated with metros.

Secondly, age plays a crucial role in determining health risks. As individuals age, the likelihood of developing health conditions increases. This means that older individuals are more likely to require medical treatment and incur higher expenses. By choosing a higher sum insured, individuals can ensure that they have sufficient coverage to meet their healthcare needs as they age.

Furthermore, lifestyle choices can have a significant impact on health. Inappropriate lifestyle habits such as a sedentary lifestyle, unhealthy diet, and lack of exercise can lead to conditions like high cholesterol, high blood pressure, and diabetes. These conditions not only increase the severity of health issues but also escalate the cost of treatment. By opting for a higher sum insured, individuals can be better prepared to handle the financial burden associated with lifestyle-related health conditions.

Moreover, medical inflation is a reality that cannot be ignored. With advancements in medical technology, the cost of treatment is increasing at a staggering rate of 12% per year. This means that the cost of medical procedures and medications is constantly on the rise. By choosing a higher sum insured, individuals can ensure that they are adequately covered for the increasing cost of healthcare.

Lastly, the choice of hospital also plays a significant role in determining the cost of treatment. Higher-rated hospitals with better facilities and services often charge higher fees for their services. By opting for a higher sum insured, individuals can have the flexibility to choose the hospital of their choice without worrying about the financial implications.

In conclusion, choosing a higher sum insured is a prudent decision when it comes to health insurance. It provides individuals with the peace of mind that they are adequately covered for the higher treatment costs associated with metros, age-related health risks, lifestyle-related conditions, medical inflation, and the choice of hospital. By opting for a higher sum insured, individuals can ensure that they have comprehensive coverage that meets their healthcare needs.