Health Insurance & Term Insurance
Key concepts and what to look for when buying health and term life insurance.
Health Insurance
- Sum insured: pick enough coverage for likely medical costs.
- Cashless claims: network hospitals settle directly.
- Waiting periods: pre-existing conditions often have waiting periods.
- Top-up plans: additional cover beyond threshold for lower premium.
Term Insurance
- Sum assured: typically 10–15x annual income depending on liabilities.
- Policy term: should cover your earning years and dependents' needs.
- Riders: accidental death, critical illness, and waiver add-ons increase protection.
- Why buy: pure protection at low cost compared with endowment/savings plans.
Note: Insurance advice is personalised. Use this as an educational guide — consult product documents and an insurance advisor before buying.
Quick checklist
- Compare sum insured and exclusions
- Check network hospitals and claim settlement ratio
- Confirm waiting periods for pre-existing conditions
- Review premium escalation and renewal terms