Hi - I am 33 years old and I work in an MNC and have a policy from my employer which covers my family for 5 lac health and some critical illness as well ( 5lacs). I have a wife and a small daughter.

I also have couple of term life insurance which covers me for a total for 1.75 Cr for which I pay about 20k / annum. I also have a LIC policy for which I pay 22k/annum and which will mature in 2036. LIC was taken when I needed my 80c contributions and now I am quite far along to stop it now. So my total outgo is about 42k/year.

Me and my wife are having some debate about getting a health policy outside of all of this. The concern being
1. What if I lose my job or join a start up with no health policy.
2. Also, who will give health coverage once I complete my tenure and retire. We should look to get health insurance now.
3. 5 lac is not enough for some of the procedures now. We should get some more.

I am thinking about getting a seperate family health plan and critical illness cover, but I have some questions -
1. What is the health cover I should go for. Max Bupa provides 10, 20, 30, 50 and 100 Lac health cover with not a lot of difference in premium. 20 lac cover for 16k and 50 lac for about 22 k. Will I ever need more than 20 lac cover.
2. Will the premium increase over a period of time and is it normal. What is the control I have over premium increase.

3. For critical illness what is the key thing to look for. I want a high level of cover (10-20 lac) which covers most of the diseases. Even in this case Max Bupa comes to be closest. ICICI has a limit till age of 75.

4. For Critical illness will I need to renew every year. Will I have any problems renewing and can the health provider refuse the critical illness cover sometime in future (Max Bupa for eg)

5. If I take both these covers, my outgo increases to about 27k extra/ year to a total of 70k a year which is a lot. Am I opting for too much insurance and I should look to cut it down?

Expert opinions are welcome. I am looking to take the decision in 1-2 weeks.