Hello Experts,
I spoke to a rep at Medimanage and he informed me that I cannot get a CI of above 10 lacs. Is it true?
If yes, then it entirely defeats the purpose of buying a CI. For me, purpose of CI is to insure my income (am a sole bread earner for my family).
I am 29 yrs old at the moment. If I buy a 10 Lacs CI now, and make a claim when I am at 40-45, 10 Lac will mean nothing. How can a CI having 10 Lac coverage amount help me and my family, when a need arises?
I believe that ideally I should be having a coverage of 10 times of my annual salary for my Term, PA and CI policies. Let me know if I am incorrect.
I understand that purpose of mediclaim will be cover my hospital expenses and purpose of CI is to provide me salary (which I would invest the lumpsum that I get), so that my family can maintain the same lifestyle, even when I am not earning because of the illness that has been diagnosed.
Let me know of my understanding is incorrect.
Suggest me further steps. Thanks.
Kapil.