In 2016, post being diagnosed of dengue after several days of being ill, I was directly admitted to the ICU. Since I lived with my friends in a rented apartment and spent like there was no tomorrow, we were really doubtful if we could provide for my initial fees. Plus it was a direct entry to ICU, so one can only imagine the costs involved. But for me, the saving grace was a health insurance policy that I had brought from a friend as a morale boosting gesture, since she was new to the business of selling. I was one of her first customers. I had gone for the lowest coverage plan that I could opt for, because, well, morale boosting came at a cost, and I wanted to keep it to a minimum. Nevertheless, the good karma paid off, the policy came in handy, and I was a straight pass case into the ICU and things were seamless from there on.
Now, despite being an insurance major, despite working for an insurance company, this actual real life scenario made me privy to the benefits of having a health insurance cover.
In the subsequent renewals, I upped my policy coverage limits, bought a policy for my mum, and meanwhile also advocated to my close friends about the benefits. The response I received was sad, because like me, they too thought that they were invincible as we all feel in our early twenties! Plus this seemed as an additional unnecessary investment with no possible immediate returns.
But the COVID situation has brought the subject as a discussion among my peer groups with them approaching me on understanding how an insurance policy works. It’s basis a few simple parameters I have often told them, with Sum Insured being the coverage amount. A 5 lakh Sum Insured means that I can be covered up to a treatment cost of Rs. 5 lakhs. There are other parameters to be considered, and there are several policies to choose from – things that a Google search can easily guide you through. There are also several companies that offer Insurance policies. Some are costly, some are relatively very cheap. But just as you won’t compare an Apple to a Vivo, don’t settle for a policy only basis the amount it costs you. It’s an annual financial investment of a few thousands, research it up just like you research buying a new car or a new laptop. Once purchased a health insurance safeguards you against emergency medical costs, which as we all know may very well run into lakhs of rupees!
Any day is a good day to secure yourself with an insurance coverage. If you haven’t bought one yet for yourself and your family, give it a thought today!