plan while mental health experts state that insurance coverage for job loss would be helpful to family members in times of critical illness of the prime earner theres some caution for those who have multiple loans and a poor history of personal finance management the backup option of insurance being there could get them to indulge in deeper debts psychologist saras bhaskar said life insurers from health plans and riders currently account for less than 5 of the total and even in the popular plan category offering by life insurers like critical illness covers and riders the current annual premium collections stands at around rs 5 crore investment advisors too put in a word of caution by getting into health insurance many life insurers may actually end up confusing customers more especially if it is a me too product karthik jhaveri director of transcend consulting a personal finance advisory firm said