How Much Medical Insurance Cover Do I Need?

Living life on prayer was considered to be okay in the medieval era when the population had no other option. To top it all, there was a lack of awareness and education forcing people to believe that illness was God’s curse and there was no way of escaping the wrath of the lord! However, the present times are a bit different. We have technology and a whole lot of medical services that re helping in improving the quality of life with every passing second. Given this situation, life insurance is mandatory. Don’t get us wrong, we are not asking you to divulge from your faith but investing in life insurance is always a wise decision.

Here are a few tips to help you decide the amount of life insurance cover that you should invest in:

Get a reality check on your existing physical condition

Getting your vital stats examined every once in a while is a good idea especially so if you are planning to invest in medical insurance. This will help you gauge the physical condition of your body and to a certain extent predict its ability to withstand the day to day wear tear. Use this understanding to decide the amount of insurance cover that you may need in an easy way.

Habits that die hard

If you are fond of smoking or drink on a regular basis, your immune system is already weakened and you are at a higher risk of contracting cardio vascular diseases as well as other health disorders. This is an indication that you may be better off with a higher medical insurance cover.

The premium that you can afford

Medical insurance amount is somewhere dependent on the premium that you can afford to pay. In your endeavour to gain maximum protection, don’t end up choosing a cover so big that you are unable to manage the premium.

The thumb rule

Health insurance is usually 50 percentage of your annual income. However, for those who have been diagnosed with certain healthy disorders or have incurred heavy expenses towards maintaining their health in the last three years, should seriously contemplate the ideal of increasing the cover.

Family history

This is important because a lot of diseases are hereditary and you are automatically at a higher risk if anyone in the family has the problem. Trace the family tree and highlight the serious health problems that you come across.