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Inflation in Healthcare
Medical inflation tends to outpace general inflation. A sum insured that seems sufficient today may feel inadequate in a few years. A quick reference table:
Lifestyle and Medical Inflation
Additionally, with medical inflation rising at 10–14% annually, a ₹5 lakh plan today may not be enough five years later. A sum insured that feels “big” today may be insufficient tomorrow.
Uncover Sum Insured in Health Insurance: Meaning, Impact & Benefits
Can You Increase the Sum Insured in Your Health Insurance Plan? Common Mistakes to Avoid While Choosing Sum Insured FAQs
Is the sum insured the same as the coverage amount?
Can I increase my sum insured mid-term?
Sum Insured vs. Sum Assured: What’s the Difference?
The terms sum insured and sum assured are often confused. They sound similar but apply to different types of insurance. Here is a clear comparison:
Difference Between Sum Insured and Sum Assured
While the terms sum insured and sum assured may sound similar, they refer to entirely different concepts in the insurance world.