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1 Crore Health Insurance

Rising healthcare expenses are a universal concern in today’s day and age. To help with the financial burden of healthcare, a good health insurance plan is a must. A 1 crore health insurance is a significant health cover that amply caters to health inflation and will adequately safeguard your finances in a major medical emergency. ...Read More

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With Health plans from HDFC Life you can opt for medical insurance at affordable rates

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1 Crore Health Insurance

What Is 1 Crore Health Insurance?

What Is 1 Crore Health Insurance
July 24, 2024

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A 1 Crore Health Insurance provides extensive coverage of up to 1 crore rupees for medical expenses. It ensures you remain fully protected against unexpected healthcare costs. This policy lets you access top-notch medical treatments without worrying about financial constraints. It is like having a safety net that ensures your health and well-being are always prioritized, no matter what.

Benefits of Buying 1 Crore Health Insurance?

Some of the benefits of buying a health policy with 1 crore sum insured are: 

Extensive coverage

A 1 cr health insurance policy provides comprehensive protection. It allows you to access extensive medical treatments, including hospitalisation, surgeries, and specialized care.

No Coverage Limit Concerns

Say goodbye to worries about exhausting your coverage. With a 1 crore sum insured, you have ample protection for your family's medical needs.

Coverage for Various Medical Expenses: 

You can benefit from in-patient and daycare treatments, pre- and post-hospitalisation expenses, modern treatments, donor expenses, and even road and air ambulance services.

First-rate Medical Treatment

Get the top medical treatment you need without breaking the bank. Choose well-known hospitals and physicians without sacrificing quality.

Protection for a Range of Healthcare Procedures

When you have health insurance, you won't have to worry about out-of-pocket costs for things like in-patient and daycare treatments, out-of-pocket costs for things like modern therapies, donations, and even ambulance services.

Option for Global T-Coverage

If you travel a lot or need specialized treatments overseas, you may be happy to know that certain plans cover medical procedures outside of the nation.

Reduced Taxable Income

Under the provisions of Section 80D* of the Income Tax Act, health insurance premiums may be deducted from taxable income.

Need for 1 Crore Health Insurance

So, why is 1 crore health insurance plan needed? In light of rising healthcare expenses, changing lifestyles, and the unpredictability of medical situations, a 1 crore medical insurance coverage is necessary, if you want nothing but the best for yourself and your family.

The cost of healthcare, including doctor visits, hospital stays, procedures, and prescription drugs, is rising rapidly. To meet these expenditures without draining resources or experiencing financial hardship, a 1 crore health insurance coverage offers a large financial buffer.

Individuals and families may get extensive coverage for various medical bills with a 1 crore health insurance policy. Everything from inpatient stays to outpatient procedures, severe diseases, diagnostic testing, and operations falls under this category.

Accidents, injuries, and diseases may result in unexpected medical costs. By purchasing a 1 crore health insurance coverage, you can rest easy and avoid financial hardship in the event of a medical emergency.

What’s covered under 1 Crore Health Insurance Plan?

Here are the services covered under 1 Crore health insurance plan:

  • Everything spent on a patient's stay in the hospital, including lodging, food, medical treatment, and ICU fees.

  • Most health insurance plans pay for surgical operations, diagnostic tests, prescription drugs, and other medical equipment and supplies suggested by a doctor.

  • Most health insurance plans will pay for medical expenses incurred both before and during a hospital stay, but this coverage is often time-limited.

  • Some health insurance policies pay for "daycare procedures," or medical operations that do not need continuous hospitalisation.

  • Costs associated with emergency medical transportation by ambulance are often reimbursed.

  • Health insurance covers all or part of the expense of an organ transplant, including the organ, surgery, and any subsequent treatments.

  • Some health insurance policies may pay for alternative medical techniques, including Ayurveda, homoeopathy, and unani.

What’s Not Covered under 1 Crore Health Insurance Plan?

Here are the services not covered under 1 Crore health insurance plan:

  • Cosmetic procedures and treatments will often not be covered by insurance unless they are deemed medically essential.

  • Treatments that are considered exploratory or experimental are not covered by insurance providers

  • Injuries sustained while engaging in high-risk pursuits, such as extreme or adventure sports, are not covered. 

  • Medical conditions, including HIV/AIDS, infertility, and genetic disorders, can go unpaid by certain insurance companies.

How Much Premium Do I Need to Pay to Buy the 1 Crore Medical Insurance?

Here are some general ranges for 1 crore health insurance premium costs in India. The exact amount will depend upon several factors: 

Policyholder

Age

Premium Range

Young adult

18-35 years

₹8,000 - ₹15,000 per annum

Adults

36-45 years

₹15,000 - ₹22,000 per annum

Middle-aged adults

46-55 years

₹22,000 - ₹35,000 per annum

Steps to Buying a 1 Crore Medical Insurance Plan Online

Follow the steps to buying a 1 Crore medical insurance plan online:

  • Compare several insurance companies that have 1 crore medical insurance plans on the internet and assess their costs, coverage, characteristics, and customer ratings.

  • To browse various plans and coverage choices, visit the health insurance section of the official website.

  • Think about your needs and budget before settling 1 crore medical insurance plan. Evaluate plans based on coverage benefits, 1 crore health insurance premium cost, and optional extras.

  • While filling out the application, please supply all your medical history and personal and contact info in addition to the data you are asked for.

  • You should secure the necessary documents as part of your application process. These documents include identification evidence, address proof, proof of income, and medical documents.

  • To start the policy issuing procedure, you may pay the 1 crore health insurance premium amount online using secure payment mechanisms like credit/debit cards, net banking, or mobile wallets.

  • You will get a medical policy worth 1 crore digitally by successfully paying.

  • You will be sent a confirmation email or text message with all the information about your insurance, and you will also be given a copy of the policy paperwork to keep for yourself.

Eligibility Criteria to Buy a 1 Crore Health Insurance Policy?

The following are the usual eligibility criteria to buy a 1 Cr. health insurance policy:

  • Applicant age must be between 18 to 65 years old.

  • Applicants will be asked to provide details about their medical history when applying for coverage. 

  • The capacity to pay the premiums for a 1 crore health insurance coverage depends on the applicant's financial stability. Thus, they may need to provide evidence of income or stable finances.

  • To be eligible to purchase the coverage, applicants must be residents of India, according to their qualifying requirements.

What are the Documents Required to Buy 1 Crore Medical Insurance?

Here are the documents required to buy 1 Cr. medical insurance:

  • Valid Passport

  • Voter’s Identity Card Issued by Election Commission of India

  • Valid Permanent Driving License

  • Adhaar Card

  • PAN Card

  • Passport Size Photos

  • Bank Statements or ITR for Income Proof in some cases.

Conclusion

A 1 Crore health insurance policy offers exceptional coverage, providing you and your loved ones with extensive protection against a wide range of medical emergencies. This significantly higher sum insured ensures that you can confidently face even the most costly and complex hospitalizations, treatments, or long-term medical care without compromising your financial stability.

This level of coverage is particularly valuable in today's healthcare landscape, where advanced medical treatments and specialized care can quickly escalate costs. With a 1 Crore policy, you're better prepared to handle serious illnesses, prolonged hospital stays, or multiple family medical events within a single year.

However, it's important to note that while a 1 Crore health insurance policy provides substantial medical coverage, it may not address all aspects of your overall financial security. To ensure comprehensive protection for you and your family, consider complementing your health insurance with an appropriate life insurance policy.

FAQs on 1 Crore Health Insurance

How much does 1 crore medical insurance cost?

Age, health history, coverage features, insurance company, and other variables all play a role in determining how much a 1 crore medical insurance policy would cost. The larger the coverage amount, the more affordable the rates for a 1 crore policy will be since the insurer is taking on more financial risk.

Who is qualified to purchase a 1 crore health insurance policy?

An individual may get a 1 crore health insurance coverage if they are within the insurance provider's stipulated age eligibility conditions and fulfil the underwriting standards. Policies often include health and financial stability requirements, and policy buyers must be citizens or permanent residents of the purchasing nation.

Is purchasing a 1 crore health insurance policy worth it?

Those looking to safeguard themselves financially from unexpected medical expenses and expand coverage options may consider purchasing a 1 crore health insurance policy. It is a huge relief to be able to pay for a wide range of medical costs without worrying about going into debt.

Is COVID-19 treatment covered under 1 Crore health insurance plan?

According to the policy's terms and conditions, treatment for COVID-19 is often covered by health insurance plans, including those with a 1 crore coverage level. However, it is crucial to examine the policy documentation to comprehend the coverage details, including any particular exclusions on pandemics.

What is the grace period on 1 Crore health insurance Plan?

When you renew your 1 crore health insurance policy after the premium is due, you'll have more time to do it without losing coverage, thanks to the insurer's grace period. Usually, you should expect a grace period of fifteen to thirty days. However, this might vary from insurer to insurer and policy to policy. To keep coverage continuous, renew the insurance during the grace period.

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Francis Rodrigues Francis Rodrigues

Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.

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Vishal Subharwal Vishal Subharwal

Vishal Subharwal heads the Strategy, Marketing, E-Commerce, Digital Business & Sustainability initiatives at HDFC Life. He is responsible for crafting and ensuring successful implementation of the overall organisation strategy.

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*The afore stated views are based on the current Income-tax law. Also, the customer is requested to seek tax advice from his Chartered Accountant or personal tax advisor with respect to his personal tax liabilities under the Income-tax law.

1. Annual Premium amount ₹ 1869 for Male aged 35 years, Base Benefit, 10 years term, Regular Pay option, Sum Assured=10 lakhs, excluding Taxes & levies as applicable.

ARN - MC/04/24/10528