New Delhi, April 6 -- In the year 2026, a Rs.10 lakh insurance cover is still marketed and promoted as 'sufficient' for an average family in the country. Yet, given how medical inflation is rising, such a figure may fall short in major cities, especially for critical illnesses such as heart surgeries, cancers, and other life-altering diseases.

According to the recent Aon Global Medical Trend Rates report, medical inflation in the country is at 12% to 13% (gross) annually. Not only can advanced treatments push hospital bills far higher, but many planners now treat an Rs.10 lakh health cover as a base. It is certainly not a ceiling.

Rakesh Jain, CEO at IndusInd General Insurance, adds to this, saying, "A Rs.10 lakh health cover is a pract...