Must-Have Add-on Covers for your Health Insurance

August 18, 2021

Must-Have Add-on Covers for your Health Insurance

Having an active insurance plan is a must, especially in today’s day and age, where medical costs are on the rise. While insurance covers can be most beneficial, they can, on occasion, not provide enough coverage for certain events or scenarios, unless specified by the policyholder, who also has to pay an additional premium to avail this extra coverage. There exists a certain range of must-have add-ons, that you must consider availing, in addition to your bare-boned insurance policy.

What does Health Insurance cover?

Understanding all that your health insurance policy covers, is a must. Different policies cater to different medical needs and ailments.

That being said, Health Insurance can be broadly defined as a form of insurance that provides coverage in the form of funds, that are directed towards medical and surgical expenses, borne by the insured individual. Choosing the right Health Insurance Policy can be tricky, and one must always consider a wide range of factors, prior to investing in a given policy. These factors include, but aren’t limited to, the waiting period in effect, policy tenure, individuals covered, and medical issues covered.

Should a particular policy stand out and appeal to you, you must consider availing it and also consider add-ons that you think would be most appropriate for you.

What are add-ons?

Add-ons or riders can be defined as the additional paid-for coverage, that increases the scope of the insurance policy in its most basic form. Add-ons can be purchased when the policy is first purchased or on the anniversary of it being purchased.

Health Insurance add-ons worth considering

Some of the more popular add-ons worth investing in in addition to a health insurance policy are often grouped together in the form of health top-ups. Health top-up policies include add ons such as those listed below.

Alternative Methods of Treatment – Ayurveda, Yoga, Unani, Siddha, and Homeopathy are popular alternative courses of treatment. This cover allows you to avail of coverage for alternative methods of treatment such as these.

Domiciliary Care - With this add-on, should you need nursing care at home, you are entitled to a certain amount of coverage for the same for an outlined time frame. With this add-on, you are spared from having to stay at a hospital.

Sum Insured - Here, the policyholder is entitled to alter or increase the sum insured they have under their original policy. The sum insured could fall in the spectrum of INR 10, 15, 20, 25 or 50 Lakhs with deductibles amounting to INR 3, 4 or 5 Lakhs respectively.

Day Care Procedures - This facility allows insured individuals to avail of coverage for medical expenses associated with most day care procedures and surgeries that are conducted within a hospital and the insured individual is an inpatient who is admitted for a time frame of under 24 hours. .

Pre and Post Hospitalization - In the event that you, an insured individual, expect to be admitted into hospital, there are a range of expenses that you must expect to incur prior to and post being admitted to hospital. This feature of the health top-up policy entitles you to coverage for the same.

Organ Donor Expense - Owing to the fact that this add-on is part of most health-top up policies, should you incur expenses pertaining to availing of an organ donated by a donor in the form of the organ donor’s hospitalization, you would be provided with coverage for this donor’s hospitalization.

Domestic Road Emergency Ambulance - In the event that you, as an insured individual, need to be admitted to a hospital, road ambulance expenses associated with transporting you to the nearest hospital will be provided with some coverage for the same.

Air Ambulance - In the event that you, as an insured individual, need to be admitted to a hospital, air ambulance expenses associated with transporting you to the nearest hospital will be provided with some coverage for the same.

Conclusion –

It is important to understand all that your Health Insurance Policy covers before you opt for the one most suitable for you. Availing of add-ons that you think you might need in the future, is always a viable bet and is highly recommended.

Terms and Conditions apply.

 

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