I have a basic health insurance policy with a coverage limit of ₹5 lakh. However, I want to upgrade to a better plan to get higher coverage.
What is the most effective way to increase the amount insured? - Name withheld on request With today’s medical inflation rate, which is growing approximately 10% every year, ₹5 lakh sum insured is an incredibly low amount for health insurance.
Thus, your thought on increasing the sum insured amount is a timely and intelligent decision. Enhancing the sum insured amount in the same policy is one of the simplest ways to increase the amount.
You can also evaluate the products across insurance companies and port your existing policy to a more suitable plan with an enhanced sum insured by another insurance company.