*By CA Neha Sunil Vora*
*Chartered Accountant & CEO, Renatus Cancer Centre*
*Why Mediclaim is No Longer Optional*
In my professional journey across finance and healthcare, one reality has become very clear — **a medical emergency is not just a health crisis, it is a financial crisis.**
Healthcare costs in India are rising sharply, and most people are still underprepared.
Today:
* A basic hospitalization in a private hospital can cost ₹1–3 lakh
* Surgeries can go up to ₹5–10 lakh
* Critical illnesses can cost ₹10–25 lakh or more
For a layman, these are not small numbers. These are life-altering expenses.
Without proper mediclaim, people are forced to break savings, liquidate investments, or take loans at the worst possible time.
*The Reality Most People Ignore*
Despite rising costs, a large number of individuals still:
* Rely only on employer-provided insurance
* Take minimal coverage of ₹2–3 lakh
* Or postpone buying insurance altogether
This approach is financially risky.
Medical inflation in India is approximately **10–15% every year**. This means healthcare costs are doubling much faster than most incomes.
*A Ground Reality from Healthcare*
As the CEO of a Renatus cancer centre, I have seen situations that numbers alone cannot explain:
* Families delaying critical treatments due to lack of funds
* Patients worrying more about bills than recovery
* Years of savings getting exhausted within a few months
In cases like cancer, treatment costs can range from ₹5 lakh to ₹25 lakh or even higher depending on complexity.
At such times, mediclaim is not just a financial tool ,it becomes a lifeline.
What seems “sufficient” today can become completely inadequate tomorrow.
*A Practical and Smarter Approach*
From a financial planning perspective, health insurance should be structured, not randomly purchased.
A more practical approach is:
* Maintain a base policy of ₹5–10 lakh
* Supplement it with a super top-up plan of ₹15–20 lakh
This structure ensures higher protection without putting pressure on your annual premium outflow.
*What You Must Evaluate Before Buying Mediclaim*
A well-informed decision is more important than a quick decision.
Before choosing a policy, carefully evaluate:
* Room rent limits and hidden caps
* Waiting periods for pre-existing diseases
* Claim settlement track record of the insurer
* Coverage for major and critical illnesses
A policy that looks affordable but fails at the time of need is not a good policy.
*Final Perspective*
As a Chartered Accountant, I strongly believe in *wealth creation*.
As someone working closely in healthcare, I strongly believe in **wealth protection.**
Ignoring health insurance is not saving money — it is exposing yourself to financial uncertainty.
One Line to Remember
**“You can rebuild wealth, but a medical emergency should not be allowed to destroy it.”**
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