The rising cost of liver diseases: How health insurance can save you from financial strain
The liver is a vital organ in the body that performs various functions related to metabolism and waste filtering. Various conditions can affect the liver, such as fatty liver disease and cirrhosis. If a substantial portion of the liver is damaged, it can also lead to liver failure, often accompanied by jaundice.
Treatments for severe liver conditions can be quite high. A liver transplant surgery, for example, can cost Rs 25-30 lakh. With the rising medical inflation (pegged at 14%) and advances in medical treatment and technology, the overall healthcare expenses, including hospitalization costs, are likely to rise further in the coming years.
Most families do not have enough savings to safeguard themselves financially during such situations. It is said that many Indian families are one medical emergency away from bankruptcy, bringing the need to have a good comprehensive health insurance cover to the fore.
Health insurance provides crucial financial protection for you and your family during medical emergencies, helping manage expenses without depleting savings or requiring loans or crowdfunding. Covering illnesses and accidents, a policy activates upon hospitalization, handling costs so you can focus on recovery. You can choose between individual or family floater plans—thelatter can cover multiple members under one sum insured.
Securing coverage at a younger age is generally advisable due to lower premiums. While a ₹10 lakh sum insured (SI) is often recommended in metropolitan areas, higher coverage is recommended for a family floater as one SI will be used by the entire family. When selecting a policy, prioritize sufficient coverage, no room rent limits, critical illness inclusion, no restrictions on daycare procedures or surgery limits, and a strong claim settlement ratio.
Carefully review the policy document to understand exclusions and waiting periods. There are a few ways to reduce your premiums too. You can consider opting for a deductible of Rs 5000-10,000 that can help you reduce your premiums. A super top up plan will also offer extensive coverage at a lower cost compared to regular plans.
The liver is the most important organ of the metabolic system. Maintaining a healthy lifestyle, including a balanced diet, regular physical activity, a healthy weight, and, crucially, limiting alcohol intake is vital for managing liver health. Ensure you also take an adequate health insurance cover to protect yourself from any future medical emergencies.