Cost of different types of medical insurance policies that you need for full health cover

One of the first steps in financial planning is buying adequate health insurance cover. It is important to have medical insurance as it will help in times of medical emergencies. Many of us, however, do not give much thought to this since we think that our company provided health insurance will always be enough.

“Why spend the money on paying premiums for another health cover when I can spend or invest that money,” is the reasoning given. Now, this is not a financially prudent reason – according to financial planners it is advisable to have your own health insurance cover as well.

In fact, medical insurance is not costly. ET Wealth takes a look at how much different types of health insurance policies costs for different ages:


Regular health plans from general insurer
Premium for a cover of Rs 20 lakh for non-smoker males with no pre-existing diseases

Age	Annual Premium (Rs)
35	10,829-16,638
45	13,798-24,307
55	24,185-46,727
65	37,183-70,799

Combination of regular health policies and top-ups
Premiums for a cover for non-smoker males, with no pre-existing diseases. Base cover is Rs 5 lakh and top-up cover is Rs 15 lakh.

Age	Annual premiums for regular plans (Rs)	Annual premiums for top-ups (Rs)
35	5,288-9,734	1,298-5,548
45	6,525-12,339	1,558-7,498
55	11,142-20,895	3,090-12,698
65	17,522-40,223	7,674-23,345

Premiums of critical illness policies
Premiums for a cover of Rs 20 lakh for non-smoker males with no pre-existing diseases.

Age	Annual Premiums (Rs)
35	7329-9310
45	16838-27610
55	40061-78225
65	87079-184080

Premiums of cancer policies offered by life insurers
Premiums are for a cover of Rs 20 lakh for non-smoker males with no pre-existing diseases. The cover is till the age of 75

Age	Premium (Rs)	Tenure
35	3365-15325	40 years
45	7618-28117	30 years
55	16,166-74,494	20 years
65	33,663-1,25,468	10 years

Source: Policybazaar.com and insurance company website