1 Crore Health Insurance

A high-value health insurance of Rs 1 crore is an insurance plan that can cover exorbitant medical expenses incurred on expensive healthcare treatments. The health insurance of Rs 1 Crore covers pre-hospitalisation expenses up to 30 days and post-hospitalisation expenses up to 60 days. It also covers the expenses of an organ donor and an air ambulance. The health insurance of Rs 1 Crore can serve as a crucial financial safeguard against those life-threatening diseases which involve expensive treatments. This health insurance will not cover a pre-existing disease if kept undisclosed at the time of the purchase.

Important Update (Dated May 30, 2024) – Good news for Health Insurance policyholders! According to the Master Circular on Health Insurance Business 29052024 rolled out on May 29, 2024 by IRDAI, insurers are to decide on the request for cashless claims within 1 hour of receiving the request. Also, the final claim is to be granted within 3 hours after the policyholder’s discharge from the hospital. Insurers have been directed by IRDAI to establish necessary systems and procedures for this process by July 31, 2024.

 

The Master Circular on Health Insurance Business 29052024 circular is available here - https://irdai.gov.in/document-detail?documentId=4942918

• In-Patient Hospitalisation

All hospitalisation expenses incurred, including the operation theatre costs, medicine bills, diagnostic tests, medical practitioner’s fees, costs of surgical or medical appliances, etc.

• Room Rent Expense

There is no room rent capping in the ₹1 Crore health insurance policy, and you can choose any hospital room of your choice.

• Daycare Procedure

All types of daycare treatments that do not require 24 hours of hospitalisation are covered under this insurance plan.

• Pre & Post-Hospitalisation

Coverage for the pre-hospitalisation cost of 60 days and the post-hospitalisation cost of 120 days is offered under such a high-value health insurance plan.

• Ambulance Cover

Expenses for an emergency road ambulance are covered.

• Air Ambulance

The cost of facilities for airlifting using medically-equipped speciality aircraft or an air ambulance will be covered without any extra premium payment.

• Pre-Existing Ailments: 

An undisclosed pre-existing disease will not be covered if it is not informed at the time of purchase.

• Fertility Treatments: 

Infertility or artificial insemination treatments, as well as treatments related to birth control, are not covered.

• Pregnancy: 

Hospitalisation expenses related to childbirth or pregnancy are not covered.

• Surgery for Gender Reassignment: 

The expenses resulting from gender reassignment surgeries or related treatment are not covered.

• Plastic Surgery: 

Cosmetic surgeries are not covered unless the need arises due to a medical emergency or due to accidental injury.

• Dental Treatment: 

Dental surgery is not covered except for accidental injuries.

• Self-Inflicted Injuries: 

Hospitalisation expenses incurred due to a suicide attempt are not covered.

Eligibility Criteria

• The entry age is between 18 years to 65 years.

• The age of dependent children or grandchildren must be between 3 months to 25 years.

   

Documents Required to apply for this Insurance are:

• Age proof

• Identity proof

• Address proof

• Medical reports

• Passport-size photographs

*Indicative figures. Pricing will vary depending upon the insurance company you pick and the terms of your policy.

Here are a few factors to take into account before buying a high-value health insurance policy:

• Age Criteria

While purchasing a health insurance policy, do keep in mind the age of the family members who need to be insured. This is because, in a family floater policy, the premium cost would depend on the age of the eldest family member.

• Medical History

Any past history of a hereditary illness in your family or any ailment that you may have suffered earlier can increase the premium of a health cover. Avoid hiding such medical details and disclose them to the insurer to steer clear of claim rejections or policy cancellations. 

• Lifestyle Habits

An unhealthy lifestyle with habits like smoking and drinking puts you at risk of developing chronic illnesses, and this can increase your ₹1 Crore health insurance policy premium. Make sure you understand the clauses well before purchasing a health policy.

• Add-On Covers

As the insurance coverage of your ₹1 Crore health plan is higher, it is bound to affect the premium cost. A higher sum insured and additional add-on covers can together lead to a higher insurance rate. This is why it is crucial to only opt for add-ons that meet your insurance needs!

It is hard to predict the exact sum insured that might work for you. However, in the following cases, it is advisable to opt for a higher sum insured:

 

• If you have a family history of any critical illness.

• If you work in a hazardous work environment.

• If you do not have other investments to help take care of possible medical requirements in the future.

• If you want to safeguard your assets and keep your investments intact in case of any health emergency.

Here is a step-by-step guide to help you purchase the best ₹1 Crore health insurance plans:

• Step 1: Go to the ‘Health Insurance Premium Calculator’ page.

• Step 2: Enter the required details like the age, gender, coverage needed, etc.

• Step 3: Browse through various plans and compare them.

• Step 4: Choose a plan that suits your medical requirements.

• Step 5: Pick any add-on covers in case you require them.

• Step 6: Pay your health insurance premium online.

   

Your health insurance plan shall be issued soon!