How Can Seniors Balance Insurance Coverage And Affordability For Maximum Protection?

What Is Adequate Coverage For Seniors?

Pankaj Verma, Chief Technical Officer (Products & Underwriting), Zurich Kotak General Insurance Company (India) Limited, says, “Seniors should first evaluate their current health status, history of illnesses, and potential hereditary risks. They should also account for significant inflation in healthcare costs. A minimum coverage of Rs 5–10 lakhs is generally advisable, depending on the city of residence (metro vs. non-metro) and lifestyle. In metros, higher coverage is preferred due to expensive hospitalisation and treatment costs. In addition, with an adequate base sum insured, seniors can also opt for top-up policies with deductibles. For example, a base cover plus a higher top-up of Rs 25–50 lakhs can provide extensive protection at affordable premiums.”

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