Health insurance plans: Worried about being underinsured? Here's how an unlimited sum-insured health plan can help you
₹5 lakh, ₹25 lakh, ₹1 crore, and more. However, there is no capping on the amount under unlimited sum insured plans.
This feature empowers customers to avail of healthcare treatment without worrying about cost.An unlimited sum insured plan is helpful for people with pre-existing diseases or those at risk of age-related disease, according to Siddharth Singhal - Head of Health Insurance, Policybazaar.com.“People are often confused when choosing sum insured because you never know when a medical emergency might hit you. Covid, for instance, nobody could’ve imagined it, but it wreaked havoc on people’s lifetime savings.
In such cases, it’s best to go with an unlimited sum insured," said Singhal.By opting for this plan, a person can claim their health insurance unlimited times in a year with no upper limit for the claim amount. However, the situation varies according to the plan.Recently, ICICI Lombard launched a health insurance product, ‘Elevate’, which provides unlimited sum insured to policyholders.
People can opt for this feature as an add-on service or as a critical feature of their policy.Bajaj Allianze’s Health Infinity Plan provides unlimited coverage. Customers can also avail themselves of wellness discounts, family discounts, and other benefits.The Unlimited Acko Platinum Plan also comes with an unlimited sum insured feature, allowing people to claim unlimited coverage for their health care treatment.
Other key features of the plan include a zero-waiting period for pre-existing disease (PED) and 100% hospitalisation bill payment.Health insurance plans with an unlimited sum insured come with higher premiums than plans with a fixed sum insured amount. “The unlimited health insurance plan costs between ₹15,000 and
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