Health Insurance In India

Summary

The script discusses the necessity of health insurance in India, especially for the middle class, due to the high costs of private hospitals and the government's failure to provide affordable healthcare. It explains the concept of insurance, its history, and types like car and property insurance. The script emphasizes the importance of health insurance, how it works, and factors to consider when choosing a policy, such as cashless services, coverage limits, and claim settlement ratios. It also addresses the 'missing middle' and suggests that health insurance should be a must-have, with tips on selecting the right plan.

Takeaways

• 🏥 The middle class often avoids hospital bills to prevent falling into poverty, highlighting the need for effective healthcare solutions.
• 💔 Despite efforts by various governments since independence, India has struggled to provide affordable and accessible healthcare to all citizens.
• 🔍 An analysis of bills from Delhi NCR's renowned hospitals was conducted to verify the legitimacy of charges and identify any potential manipulation.
• 👨‍👩‍👧‍👦 The responsibility of a sole breadwinner for a family necessitates comprehensive health coverage to mitigate unforeseen medical expenses.
• 💼 Wealthy individuals like Bill Gates or Elon Musk may not require health insurance due to their ability to cover medical costs, but they might insure against other significant risks.
• 🌐 The concept of insurance originated from ancient trade practices where groups pooled resources to share losses, which has evolved into modern insurance systems.
• 🏢 Insurance companies play a crucial role in managing risk by collecting premiums and providing coverage as per government regulations.
• 📚 Health insurance is a critical topic that should be included in educational curriculums to increase awareness among young people.
• 💉 The introduction of health insurance was initially targeted at high-risk workers but has since expanded to cover a broader population.
• 🏥 Private hospitals in India often charge significantly more than government hospitals, with a reported six-fold increase in costs.
• 💊 Private hospitals have been found to avoid prescribing generic medicines to maintain higher profit margins, leading to inflated medical bills.

Q & A

What is the primary concern of middle-class individuals regarding hospital bills?

The primary concern of middle-class individuals is to avoid hospital bills that could push them below the poverty threshold.

How has the Indian government's performance been in providing healthcare since independence?

The Indian government has failed to provide free and quality healthcare to its citizens since independence, regardless of which party has been in power.

What is the role of insurance in mitigating risks?

Insurance is a mechanism where money is collected from a group of people to protect them from financial loss due to unforeseen events, such as health issues.

Why did private hospitals become prevalent in India?

Private hospitals became prevalent in India because the government failed to provide adequate healthcare and allowed private entities to enter the market to reduce its load.

How does health insurance help the middle class in India?

Health insurance helps the middle class by providing financial coverage for medical expenses, thus preventing them from falling into poverty due to high hospital bills.

What is the difference in cost between private and government hospitals in India?

The cost of admission in a private hospital in India is six times more than that in a government hospital, with an average cost of ₹4452 in government hospitals and ₹31,845 in private hospitals.

What is the issue with private hospitals avoiding generic medicines?

Private hospitals avoid generic medicines to increase their profit margins by prescribing non-generic medicines, which often have no price restrictions and result in higher bills for patients.

Why is health insurance considered a must-have for citizens in countries with poor healthcare?

Health insurance is a must-have for citizens in countries with poor healthcare because it provides financial protection against the high costs of medical treatment.

What factors should one consider when purchasing health insurance?

When purchasing health insurance, one should consider whether it is cashless, has pre and post-hospitalization coverage, includes a co-pay option, has a cap on coverage, offers no claim bonus, and has a good reputation and claim settlement ratio.

What is the difference between an Individual Plan and a Family Floater Plan in health insurance?

An Individual Plan covers only the person who takes the insurance, while a Family Floater Plan covers the entire family under a single policy with a shared sum insured.

How much health insurance coverage is recommended for individuals and families?

It is generally recommended to have at least a coverage of 3 lakh for individuals under 30 years old and at least 5 lakh for family floater plans. However, the amount should be adjusted based on factors such as age, medical history, lifestyle, and location.

Outlines

00:00

🏥 The Struggle with Hospital Bills and the Emergence of Health Insurance

The paragraph discusses the challenges faced by middle-class individuals in affording hospital bills without falling into poverty. It highlights the failure of governments since independence to provide adequate healthcare solutions. The script mentions a study analyzing bills from renowned Delhi NCR hospitals to assess their legitimacy. It introduces the concept of insurance, tracing its origins back to ancient trade practices where groups would pool resources to cover potential losses. The paragraph emphasizes the importance of health insurance, explaining how it works and its necessity, especially in a context where the government has been unsuccessful in providing free and quality healthcare. It also touches on the historical development of health insurance in India, from its initial introduction for factory workers to the current schemes like ESI and CGHS, and the increasing role of private hospitals.

05:03

💊 The High Cost of Private Healthcare and the Need for Health Insurance

This paragraph delves into the high costs associated with private healthcare in India, as compared to government hospitals, and the role of health insurance in mitigating these expenses. It discusses how private hospitals often avoid prescribing generic medicines to increase their profit margins, as revealed by the NPPA. The script uses the example of a syringe to illustrate the stark difference between the cost price and the price charged to patients. It stresses the importance of health insurance for middle-class individuals who cannot afford to bear the brunt of medical expenses. The paragraph also addresses the misconception that wealthy individuals like Bill Gates or Elon Musk might not need health insurance, explaining that insurance is necessary for those who cannot afford potential losses. It concludes by advocating for health insurance as a critical component of financial planning, especially in the face of rising medical inflation.

10:04

📑 Navigating Health Insurance: Factors to Consider

The final paragraph offers guidance on selecting the right health insurance policy. It emphasizes the importance of considering whether the insurance is cashless and has a wide network of hospitals, the inclusion of pre- and post-hospitalization coverage, and the presence of a co-pay option. The paragraph also discusses the implications of caps on coverage for specific treatments and the significance of no claim bonuses. It advises on the need to choose reputable insurance companies with high claim settlement ratios and to disclose pre-existing conditions to avoid policy termination. Additionally, it points out the potential issues with room rent capping and the linkage of room rent to overall insurance coverage. The paragraph differentiates between individual and family floater plans, suggesting that senior citizens might be better off with individual plans due to higher premiums in family plans. It concludes with recommendations on the amount of health insurance coverage one should consider, taking into account factors like age, medical history, and lifestyle, and mentions the tax benefits available for health insurance under section 80D.

Keywords

💡Health Insurance

Health insurance is a type of insurance coverage that helps individuals and families pay for medical services. It is a risk management tool that provides financial protection against the potentially high costs of medical treatment. In the video, the importance of health insurance is emphasized, especially for middle-class individuals who cannot afford to bear the high costs of medical emergencies. The script mentions that health insurance is a must-have for citizens of countries with poor healthcare systems, and it is crucial for the middle class to avoid falling into poverty due to medical expenses.

💡Premium

A premium is the amount an insurance policyholder pays for the insurance coverage. It is a regular payment that ensures that the policyholder is covered by the insurance company for any specified risks. In the context of the video, the premium is the money collected from individuals as part of their health insurance policy. It is mentioned that everyone collects money by trusting the insurance company, and this money given by the people is called a premium.

💡Generic Medicines

Generic medicines are copies of brand-name drugs that have exactly the same dose, intended use, effects, side effects, route of administration, risks, safety, and strength as the original drug. The government usually fixes the price of generic medicines, making them more affordable. The video script discusses how private hospitals often avoid prescribing generic medicines to prescribe non-generic ones, which can command higher prices and result in higher profits for the hospitals.

💡Co-Pay

Co-pay refers to the portion of the medical expenses that the insured person has to pay out-of-pocket before the insurance coverage kicks in. It is a cost-sharing agreement between the insurance company and the insured. In the script, it is mentioned as a feature to check for when purchasing health insurance, as it affects how much the insured has to pay towards medical costs, such as hospital bills.

💡Claim Settlement Ratio

The claim settlement ratio is a measure of the percentage of claims paid by an insurance company against the total number of claims received. It is an indicator of the insurer's efficiency and reliability in settling claims. The video emphasizes the importance of checking the claim settlement ratio of an insurance company before purchasing health insurance to ensure that the company is likely to honor its commitments when claims are made.

💡Pre-existing Conditions

A pre-existing condition is a health problem an individual has before the start date of their insurance coverage. Insurance companies may not cover the costs related to treating pre-existing conditions initially, or there may be waiting periods before coverage begins. The script advises not to hide pre-existing conditions when applying for health insurance, as doing so could lead to policy termination and loss of premium.

💡Cap on Coverage

A cap on coverage refers to the maximum amount an insurance company will pay out for a particular treatment or condition. It sets a limit on the financial protection provided by the insurance policy. The video script uses the example of knee surgery, explaining that if there is a cap on the coverage for this procedure, the insured person would have to pay any costs exceeding the cap amount.

💡No Claim Bonus

A no claim bonus is a discount or benefit offered by insurance companies to policyholders who do not make any claims during the policy period. It serves as an incentive for policyholders to maintain a claim-free record. The video mentions that some insurance companies offer a no claim bonus in the form of increased coverage amount, free health check-ups, or premium concessions.

💡Family Floater Plan

A Family Floater Plan is a type of health insurance policy that covers the entire family under a single plan. It provides a collective sum insured that can be utilized by any family member. The video script discusses the pros and cons of Family Floater Plans, noting that while they can be cost-effective, they may also have limitations, such as not providing additional coverage if more than one family member falls ill.

💡Inflation

Inflation is the rate at which the general level of prices for goods and services is rising, and subsequently, the purchasing power of currency is falling. The video script mentions that inflation, especially in the medical field, is a significant factor driving up the cost of treatment and medicines. This is used to argue that health insurance is necessary to protect against the increasing costs of healthcare due to inflation.

💡Tax Benefit

A tax benefit is a reduction in the amount of tax that an individual or corporation has to pay due to specific deductions or exemptions provided by tax laws. The video script mentions that in India, there is a tax benefit of 25,000 rupees available under section 80D for purchasing health insurance, which can be an incentive for individuals to invest in health insurance.

Highlights

Middle-class individuals often avoid hospital bills to prevent financial ruin.

Governments have historically failed to provide affordable healthcare.

Analysis of Delhi NCR hospital bills to check for genuine pricing and manipulation.

The importance of health insurance for the sole breadwinner of a family.

Wealthy individuals like Bill Gates or Elon Musk may not need health insurance due to their ability to cover medical expenses.

The concept of insurance originated from ancient trade practices to mitigate risk.

Health insurance is a modern adaptation of the ancient risk-sharing concept.

Insurance companies play a crucial role in managing health insurance policies and claims.

Health insurance is not well-understood by the youth, often overlooked in education.

The responsibility of healthcare should lie with the government, but they have often failed to deliver.

Private hospitals were introduced to alleviate the government's healthcare burden but led to increased costs.

Health insurance was introduced to help middle-class individuals afford better healthcare services.

Health insurance schemes like ESI and CGHS were introduced to cover employees and their families.

The cost difference between private and government hospitals in India is significant.

NPPA found that private hospitals often avoid generic medicines to increase profit margins.

Health insurance is a necessity for citizens in countries with poor healthcare systems.

Inflation in the medical field is a significant driver for the need for health insurance.

Ditto Insurance is a platform that helps individuals make informed decisions about their health insurance needs.

Health insurance is essential for the middle class, while the government and companies cover other segments.

When purchasing health insurance, consider whether it is cashless and has a wide network of hospitals.

Check for pre and post-hospitalization coverage, co-pay options, and caps on coverage when selecting a health insurance plan.

No claim bonus, reputation, and claim settlement ratio are important factors to consider when choosing an insurance company.

Pre-existing conditions must be disclosed to avoid policy termination and loss of premium.

Room rent capping in insurance policies can affect the total payout for hospital bills.

Choose between Individual and Family Floater Plans based on family size, age, and medical history.

The recommended health insurance coverage is at least 3-5 lakhs, depending on age and location.

Health insurance provides a tax benefit under section 80D.

Transcripts

A middle-class man always tries to avoid hospital bills,

to keep him from falling below the poverty threshold.

No matter which government has been there since independence,

it has failed in every way regarding this particular thing.

The bills of the patients who went to the famous hospitals of Delhi NCR

were collected and analyzed so that it can be found that

the bills made by these hospitals are genuine

or there has been some manipulation in it.

There is a man who has parents, wife, children, and

siblings and he earns all the money.

So, he cannot live such a long life on the belief that

nothing will happen to anyone.

And do people like Bill Gates or Elon Musk have health insurance?

do they need health insurance?

And when the government failed, it also did what every

failed person would do that is to put the responsibility on others.

Long ago, when Chinese and Babylonian people used to trade,

they find a way to reduce their risk

which was not used before,

And that is the idea that still guides us.

Together in their entire group, it was decided that

we will collect some money amongst ourselves

and if any one suffers, then we will share that loss amongst ourselves.

This has the advantage of making everyone risk-free for less money.

This concept is still going on today, which we call Insurance.

Money is collected from people to make them risk-free,

if this money is collected for the risks related to Cars

then we call it Car insurance.

If it is collected for the risks related to properties

then we call it Property insurance.

Similarly, if it is collected for the risk of health,

then we call it Health insurance.

Because in today's scenario there are many people dealing with this

and it happens on a very big level.

So, you cannot just trust someone and collect the money and give it.

So, in this whole process enters a company,

which is reputed and follows the regulations of the government.

which we call Insurance company.

Everyone collects money by trusting this company

and the money given by the people is called a Premium.

Insurance may seem a very boring topic

but it is a very important topic,

In fact, such topics should be in school books, but it is not there.

And this is the reason that the youngster does

not know much detail about it other than its name.

But as soon as you take responsibility for yourself,

you start to understand its importance.

Furthermore, if you are a young person

and your family depends on you

then you should know more details about it.

As you see, in any country, all the responsibility

for health care lies with the government.

That it should provide free and quality healthcare

to the people of the country.

Post-independence India is also working for it.

But unfortunately from independence till today,

no matter which government has been there,

It has failed in every way regarding this particular thing.

And when the government failed,

It also did what every failed person would do

to put the responsibility on others.

The government gave entry to a lot of private hospitals.

Additionally, private hospitals were established in India.

But when the private hospitals were established,

it obviously wasn't for charity,

they were established to make profit.

As a result, the cost of health care increased.

Super specialty and multispecialty hospitals

with costs that tended to range into millions.

However, it also benefited those who are wealthy

because it gave them more options.

If you take an example of Covid,

then, at the time of Covid, there were fewer hospitals and more patients.

Both the government and the general public were under pressure.

This would have been the situation if there were

only a few hospitals in India.

With the advent of private hospitals, people had more options.

The government reduced its load by bringing private hospitals,

but the bills of these private hospitals were very high.

And for middle class people it had become a huge issue.

To avoid this, health care insurance was introduced,

it was introduced so that if someone wants

better services from the government system

then, they could afford it.

But remember that still the responsibility lies with the government only.

Earlier the health insurance was introduced only for factory workers.

Those who used to run big machines because

those people lived at high risk,

but it was not sufficient.

That is why it was mandated for those companies,

which had more than 10 employees.

But when this did not work out, a scheme was introduced

in which both the employee and the employer had to invest money.

so that no one individual is carrying all of the burden.

Additionally, more people should live a risk-free

this system still runs in the name of ESI.

If your salary is less than 21,000 rupees, then you get this scheme.

When Central Government Health Scheme-CGHS

was introduced, the families of employees of the

Central Government also got health coverage.

And then some MNCs also started giving cover

to the employees' families.

Now, whether you do a job or not,

Whether you want it individually or for Family,

You can take separate insurance.

Now, we all know that the bills of private hospitals

are higher than government hospitals.

And we should also know, how much is it exactly?

and we will talk on the basis of the factual data,

that how big is the difference?

If one is admitted to a private hospital in India,

then, it costs 6 times more money than a government hospital.

If you see the report of the Union Ministry of Statistics,

then you will get the exact numbers there.

The average cost of getting admitted in a government hospital is ₹ 4452.

And if you are admitted to a private hospital then it takes rupees 31,845.

Now, the difference is huge,

but even after this, if a common man falls ill,

he has to go to a private hospital.

It indicates that all of the governments that have taken

office since our independence

has not fulfilled its responsibility completely.

The bills of the patients who went to the well-known

private hospitals of Delhi NCR

were collected and analyzed so that it can be found

that whether these bills are genuine or

whether there has been any manipulation.

And this has been done by the

National Pharmaceutical Pricing Authority (NPPA).

So, it was found that private hospitals

were avoiding generic medicines

and were prescribing non-generic medicines.

What are these generic medicines?

I have already explained this in one of my videos.

But for now, you must understand that

the government fixes the price of Generic medicines.

You can't decide its rate.

So, what do private hospitals do, to avoid them,

they prescribe medicines from other brands,

where the commission is already set.

NPPA analyzed the bill of the patients,

So in the total medical bill of a patient,

only 4% of generic medicines were prescribed in it.

to make the margin higher.

Everything else was taken from the private players

There was no restriction on the price.

This is the original bill for the medicine

taken from the distributor in the private hospital.

Here, you will be able to understand the actual cost paid

by the private hospital and how much they charge the patient.

The private hospital bought 68 pieces

of this syringe, each worth 1.28 rupees.

and charged 23 rupees from the patients.

they are making profit of more than 1000%.

You can also check the rate of other things.

There is a man who has parents, a wife, children, and siblings,

and he earns all the money.

So h can't live his life assuming nothing will ever happen to anyone,

And he won't have to visit private hospital ever.

It is a very wrong decision to proceed thinking like this.

A middle-class man tries his best to avoid hospital bills,

to keep him from falling below the poverty threshold.

So, there are 2 things, either you have enough money that

can get treatment when such a situation arrives

or the only way left is to get health insurance.

All the developed countries you see, all the citizens

are covered under health insurance.

There are more than 20 countries where they have

a 100% population is covered under insurance.

Health insurance is a must-have for citizens

of countries with poor health care.

But in India still people leave all these things in the trust of God

or show ignorance towards it and put their future at risk.

which is wrong.

The rate at which inflation is rising, this thing is getting more critical.

Although inflation is everywhere,

due to inflation in the medical field, the expense rate has doubled.

The cost of treatment and medicine is increasing every year.

And inflation is a huge reason why we should take health insurance.

There are many different types of companies

in the market that offer insurance.

But you can't get the same insurance for everyone,

You need to get the best health insurance according to your need.

In such a situation, Ditto Insurance is a very helpful platform

where you can decide on your insurance plan

by talking to experts at a free cost.

And even after taking insurance,

Ditto supports you in claim service.

Neither attempt will be made to sell you any policy,

nor will there be any spam calls, so use Ditto Insurance

to make a wise decision.

The link is in the description.

So, coming back to the topic.

Now the thing is, who needs to take health insurance?

you shouldn't be paying premium if you do not need it,

And does Bill Gates or Elon musk have health insurance?

Do they need this?

Before taking insurance, you should ask yourself a question,

that can you bear the loss of that particular thing

for which you are taking insurance?

If you can't bear the loss of that particular thing,

then you have to get insurance.

Elon Musk or Bill Gates won't take health insurance

cause they can pay their medical expenses,

They will insure everything they can't afford to lose.

we also have to consider this thing

Now the Central Government or State Government is

giving insurance to those who are in government jobs.

The Government also launches health care insurance for the poor people.

people working on higher positions in private sectors

are taken care of by their companies.

And the rich man takes care of himself.

But for the middle class man, health insurance is a must have.

The remaining people who have neither money nor health insurance,

Niti Aayog keeps publishing reports for them.

In the October 2021 report, these remaining people

were called the missing middle.

The middle-class is at the highest risk.

In this report, it has been shown that there are 40 crore

people who have not taken insurance and are still at risk.

Now, let us also discuss what is the best way to get health insurance?

What else to keep in mind when you are buying health insurance.

So the first thing you have to check when you are taking

health insurance is whether it is cashless or not.

Because if it is not cashless then you have to arrange money,

and later you will get that money from the company.

And it takes a lot of paper work,

So you have to try going cashless,

Because in the case of cashless, you have to check

the network hospitals of that particular company

Whether there is a hospital of that particular

insurance company in the area where you are living.

If there is an emergency then you go to that hospital and get treatment

and the insurance company will pay the hospital.

The second thing you have to check is whether your policy

has pre and post hospitalization.

Now you have got the treatment done

and deposited the money from the insurance company.

But there are a lot of expenses before and after the treatment.

There can be many tests, or doctor's consultation fees,

physiotherapy is also recommended in some cases,

ambulance etc., then you have to check all these things too.

You also have to check whether your insurance has Co-pay option or not.

Suppose you have incurred an expenditure of 1 lakh rupees for the hospital

and there is a clause of a 5% Co-pay in your insurance.

So, in that case, you will have to pay 5000 rupees.

You also have to check Cap on coverage before taking insurance,

Whether any limit has been set for any particular treatment

Suppose you have to undergo knee surgery and the insurance

you have taken has a cap of 80,000 rupees

on the knee surgery.

So, in that case, you will have to pay whatever the cost

will be above 80000 rupees.

Cap means the limit has been set.

Along with this, whenever you compare policies,

pay attention to the no claim bonus,

If you do not use insurance in that particular year,

some insurance companies give you a bonus.

Some companies increase your coverage amount

or some companies may provide free health check-up,

and some companies give concessions in premium

so you also have to check these things.

Taking the cheapest health insurance with a low premium

in the market, won't solve all your problems.

You have to check the reputation and claim

settlement ratio of the insurance company,

So, that when you need insurance, you will get its claim.

Instead of getting a rejection on your application for any reason.

Claim settlement ratios tell you how many insurance claims the company

has made and how many have been rejected.

If you have a pre-existing disease,

then you have to get a policy accordingly.

Never hide your pre-existing disease,

doing so terminates your policy.

Sooner or later, they will find out about it,

by hiding things, you may lose your premium

as well as your policy will be terminated.

If you have any disease before 48 months of the date on

which you are taking insurance,

then it will be considered a pre-existing disease.

The second thing you have to pay attention to is whether there is

any room rent capping in the insurance that you have taken.

and how much is it?

Suppose you have been admitted to the hospital

so hospitals have different kinds of rooms,

such as deluxe rooms or luxury rooms,

so sometimes you choose your rooms.

And sometimes you have a compulsion to take a luxury room,

Because the rest of the room would not be available

Or the hospital may be luxuries.

Suppose you have taken a luxury room that costs ₹ 10,000 a day.

if your insurance is without cap i.e. there is no limit

you can get any room you want,

So in that case, there is no problem,

but if your insurance is with Cap, that is, there is some limit set in it.

So you will not get full money for room rent,

Now, you will say that if not the whole amount then how much?

The insurance company, claims that if you want a good room worth more money,

then you have to take your policy worth more money.

If your insurance is of 5 lakh rupees then you get rent up to 5,000 rupees.

Normally, 1% is available of the total policy.

Now you may assume that there is no problem with that,

Suppose a hospital bill is 3 lakh rupees

and the insurance company is paying ₹ 5000 for room rent.

Even if it takes a little extra money, then you yourself will pay it

from your pocket, what is the problem in this.

It won't work that way

some insurance companies link your entire insurance with your room rent

that means if you have taken a room of 10,000 rupees

and according to the insurance, the room rent will be 5000 rupees.

So this means that the insurance company is paying 50% of your room rent.

you have to pay the rest.

And linking with room rent means that the insurance company

will pay only 50% of your entire hospital bill,

from medicine to complete treatment.

So you also have to check that the policy

you are taking is not linked to your room rent.

When you go to get insurance, there are usually 2 plans

1 is Individual Plan and the other is Family Floater Plan.

Individual plan- you can take your plan individually according to your needs.

In a family floater plan, your entire family is covered in the insurance.

For example, you took a family floater insurance of ₹ 5 lakh rupees,

now if anyone in your entire family gets sick, then you can use that 5 lakh.

But there is a problem that

if someone else also becomes ill, then the insurance company

will not give more amount in that case.

Now you will say that this plan is the best and you should take it,

because the whole family will not fall ill together.

The insurance companies are not here for charity,

This family floater plan is made according to age.

If you have more senior people in your family,

then your premium will be high comparatively to the individual.

That is why whenever you take a family floater plan,

do not add senior citizens to that plan.

Take a separate individual insurance for them,

it remains more profitable.

Now the last question is how much health insurance should be taken?

See, there are many factors in this,

such as how old are you or whether your

family has any medical history,

whether there is any pre-existing disease,

how is your overall lifestyle?

Accordingly, you should take an insurance plan.

But in general, it is said that if your age is less than 30

So at least you should take cover of 3 lakh.

And if you are taking a family floater,

then you must take a cover of at least 5 lakh.

By the way, if you live in metro cities, then you should take more

than there because the bill there is high.

Some experts also suggest that it should be 50% of your annual income.

Or it should match the amount of heart

surgery in hospitals in your area.

You also get the tax benefit when you take health insurance.

25,000 rupees tax benefit available under section 80D.

Lastly, I would like to say that

don't forget to check out ditto

if you are planning for insurance.