>The only thing I can tell you is to go and get health insurance ASAP. Both for yourself and your dependents.
I am not too sure about that. I think medical insurance hasn't yet become all pervasive in India, and thankfully so.
Insurance companies are there to make profit, and so will tend to exploit fear to maximize their profits. Leading to inflated costs, as it has happened in US.
So I am against insurance in this form, unless it works like a non-profit cooperative. In fact Dr. Devi Shetty has also innovated here, with a scheme which costs as little as Re. 5 per month (1/60 USD per month) and provides heart coverage to rural Indians. It works as a cooperative scheme of course.
I am surprised, Insurance companies, even exist. As they should be the first thing to be replaced by Software (as in 'Software eating the world' by Marc Andressen)... It should happen, will just take some time, I guess.
So, I think, India can still save itself from corporate medical insurance. As seen in some countries like Canada, a fully public health care system, works as good, if not better.
On a personal note, after having, earlier, taken medical insurance for me and family by paying some 9000/- Rs per annum and getting a cover of 300000/- Rs. I decided this year to not renew it.
But of course, I won't dare to prescribe it generally, each person must take his own decision.
Appendix:
1) http://arachnoid.com/wrong/index.html (ctrl-f 'Insurance is a wise investment')