"Due to advancement in technology and medical science, many new procedures have been adopted in critical surgeries and treatment of severe illnesses, which come at extra cost. Also, a change in lifestyle is encouraging individuals to take treatment in super-luxury hospitals. These factors, along with the inflation in healthcare cost, are forcing individuals to look for enhanced sum assured," says Pankaj Mathpal, Certified Financial Planner and Managing Director, Optima Money Managers.

"Individuals with adverse family history should go for a higher sum assured if they can afford the premium. Wealthy people looking for advance treatment and services in superluxury hospitals can also go for such large sum assured," adds Mathpal.

Even if you wish to go for medical treatment outside India for serious illnesses, then opting for a high health insurance would prove beneficial. For example, health insurance products with a sum assured of above 50 lakh will cater to your financial need even in a foreign location. “This policy provides coverage for hospitalisation abroad for cancer, benign brain tumour, major organ/bone marrow transplant, heart valve replacement, and heart bypass surgery, for a sum insured of Rs 50 lakh and Rs 60 lakh," says Mahavir Chopra, Head, e-Business, Medimanage.com, a Health Insurance Advisory firm.