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Is A High Value Health Insurance Policy Really Needed?

Updated On Nov 22, 2021

Health insurance plans must be bought by the individuals depending on their requirements. Therefore, it is wise to analyze your choices before purchasing a suitable health insurance policy. You must consider certain factors like age, financial budget, medical history, pre-existing medical conditions, and much more. You can compare the plans that are available in the market and then accordingly invest in the best health insurance policy for yourself and your loved ones.
To save a certain amount of money you must not settle with plans that offer less coverage or you must not get policies that exceed your financial limits. Therefore, make sure that the plan you desire is not only comprehensive but also cost-effective.

Is A High Value Health Insurance Policy Really Needed?

About High Value Health Insurance Policy

A high value health insurance plan is a health insurance plan with a high amount of sum assured and it is meant to compensate for expensive medical treatments at the private hospitals. The claim amount under such policies can range upto Rs. 1 Crores. With the increase in the claim amount, the premium amount also increases. With the high amount of sum assured, it offers certain exclusive features to the policyholders like critical illness coverage, pre and post hospitalization charges, outpatient costs, organ donor expenses, advanced stage cancer treatment costs, and a lot more.

Must Read: Things You Didn’t Know Health Insurance Covers

Benefits of A High Value Health Insurance Policy

Following are some of the prominent benefits of having a high value health insurance policy:

  • Because of the high amount of sum assured, the plan has comprehensive coverage. It offers financial aid for medical expenses like health checkups, OPD charges, maternity covers, critical diseases, etc. thus making it an extensive health insurance policy.
  • Under this plan, the policyholders can receive treatments outside the frontiers of the Indian subcontinent. You can receive medical treatment in foreign countries and get compensation for the medical dues under the high value health insurance plans.
  • This plan does not come with a sub-limit on the room rents. However, the expenses and coverage can differ according to the policy terms and hospital policies.

Disadvantages of Having A High-Value Health Insurance Plan

Let us look at some of the key points that determine the cons of having a high value health insurance plan:

  • With the increase in sum assured, the premium rate also increases. High amount of premium costs can exceed your financial budget and cause financial stress.
  • The process of underwriting for a high value health insurance is more rigorous than that of any other regular health insurance policy.
  • Senior citizen health insurance plans do not have co-payment clauses under the terms, but high value senior citizen health insurance plans have a high percentage of co-payment for the policyholders. The co-pay rate can be higher than 10% to 15% thus increasing the out-of-pocket expenses of the policyholders in case of a medical emergency.

Is A High Value Health Insurance Policy Really Needed?

Health insurance policy, in general, is essential but high value health insurance plans must be bought according to your finances, earning, and medical needs. If you can afford a high amount of premium rates under your purchased health insurance policy, then you can invest in a suitable high value health insurance policy. Buying a high value health insurance plan, without a high net worth can be quite challenging as it can increase your future expenses and financial stress. If you want comprehensive coverage without having to buy a high value health insurance plan, then you can invest in an additional health insurance cover to enhance your existing regular health insurance policy.


You must make sure that the plan you buy is both extensive and affordable for you and your loved ones. Buying a health insurance plan that exceeds your budget can lead to exhaustion of your savings. Therefore, after exploring several options you must choose a plan that meets your requirements cost-effectively.

Also Read; 10 Benefits of Health Insurance Riders

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

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