Outlook Money
Even with health insurance, families may face hefty out-of-pocket bills due to exclusions, room rent limits, and other restrictions. When savings fall short, funding treatment becomes difficult.
Review room-rent limits, co-payments, deductibles, treatment sub-limits, and exclusions. These policy conditions can leave families paying part of the hospital bill themselves.
Before planned hospitalisation, request an itemised estimate, and check with your insurer about possible deductions. Consumables and certain treatments may not be fully covered.
Even with a Rs 5 lakh health cover, a family may pay Rs 50,000 in disallowed expenses. An accessible medical reserve can help cover such costs.
Before borrowing, assess whether the EMI fits your household budget. Consider income during recovery, essential expenses, and contingencies before committing to repayments.
A household earning Rs 80,000 per month, with Rs 65,000 in existing loan payments and essential expenses, would have just Rs 3,000 left after a Rs 12,000 EMI.
Calculate savings withdrawn, additional debt, and paused investments after treatment. Prioritise home loan EMIs and upcoming education fees before resuming every investment.