A worked example
Sample figures, not hospital data: 4 people, 2 stays to plan for in a year, a bill of ₹3,00,000, rising 10% a year for 5 years, cover in place ₹5,00,000. Extra cover to consider: ₹4,66,306.
| Item | Amount |
|---|---|
| One hospital stay, 5 years ahead | ₹4,83,153 |
| Stays in one year | × 2 |
| Cover to plan for | ₹9,66,306 |
| Less health cover in place | − ₹5,00,000 |
| Extra health cover to consider | ₹4,66,306 |
The assumptions in that example
- One hospital stay costs ₹3,00,000 today (assumed).
- Hospital costs rise 10% a year for 5 years (assumed).
- 2 hospital stays are planned for in one year, for 4 people.
Estimate only, not advice.
How it is worked out
Method: one hospital bill times the stays in a year, less the cover in place. No official formula for health cover need was found, and no city costs are built in.
Common questions
Why does it not know hospital costs in my city?
We found no official figures to build in, so you type a bill you trust for that city and hospital.
Does it give a health premium?
No. Each insurer sets its own premium by age, zone, sum insured and family.
How many stays should I type?
Think how many of the family could need hospital in the same year. Blank counts as one.
Sources
This is a planning method with no official source: no official formula was found. Every figure in the result is one you typed.
