A simple starting point
| Who | Suggested sum insured (metro cities) |
|---|---|
| Single adult | ₹10 lakh or more |
| Couple / young family (floater) | ₹10 to ₹25 lakh |
| Parents above 60 (separate policy) | ₹10 lakh or more, with a super top-up |
In smaller towns, slightly lower covers can work, but treatment in a metro is often needed for serious illness.
Individual vs family floater
A family floater shares one sum insured across family members and is cheaper for young families. Keep parents on a separate senior citizen policy: their age raises the floater premium for everyone, and one large claim could use up the shared cover.
Use a super top-up for high cover at low cost
A super top-up pays for hospital bills above a threshold (the deductible) across the policy year. For example, a ₹10 lakh base plan plus a ₹40 lakh super top-up with a ₹10 lakh deductible gives you ₹50 lakh of cover at a fraction of the cost of a ₹50 lakh base plan.
Tax benefit under Section 80D
- Up to ₹25,000 a year for yourself, spouse and children (₹50,000 if you're a senior citizen)
- An additional ₹25,000 for parents (₹50,000 if they're senior citizens)
- Preventive health check-ups up to ₹5,000 within these limits
- Available under the old tax regime; compare both regimes before deciding
Frequently asked questions
For most families in metro cities, no. A single major surgery or ICU stay can cost more. Aim for at least ₹10 lakh, or add a super top-up.