New Delhi, Sept. 4 -- The insurance company has quoted a 25% higher premium than last year at renewal for my parents' health insurance policy. The base sum insured (SI) is Rs.10 lakh, with a cumulative bonus of Rs.5 lakh. My parents also have a super top-up plan offering Rs.50 lakh coverage with a Rs.10 lakh deductible. I am considering reducing the base SI to Rs.6 lakh, since with the cumulative bonus, the total cover would still be Rs.11 lakh ( Rs.6 lakh + Rs.5 lakh). The reason for this change is the rising premium. Is this the right approach?

--Name withheld on request

You have a good product construct: A base SI of Rs.10 lakh and a super top-up of Rs.50 lakh with a Rs.10 lakh deductible. This provides cumulative coverage of Rs.60 l...