Health is an imperative and an essential aspect of all of our lives. Irrespective, of one's age, gender or any other factor, being concerned about one's health is a must.
In this modern day and age where lives are so much so unpredictable, the response for a health insurance cover is positive. Every year new discoveries are made when it comes to illnesses and disorders, thus our health is at evolving risks and needs due safety and precautions.
Health insurance might feel like an overprized commodity but for a secured and protected future, it is a must.
Generally, a health insurance cover is available for toddlers as small as 3 months old to a senior citizen who is 65 years of age. One can opt for an individual policy or a family floater policy, depending upon the requirements and expenses involved.
Rider: What is it?
When one is jotting down on coverage, one may encounter words like 'rider'. Rider is nothing but a probable add-on which offers you additional advantages. One may have to pay additional for the rider, however usually the add-on expenses are minimal. One can only purchase a rider, after having a policy on his or her name.
Available riders
Some of the riders generally available with the health insurance policies are:
Basic Coverage: A basic health insurance plan must provide coverage for doctor fees, medications, medical tests, hospital rooms and related expenses. It helps in offering you with add-on protection in addition to a range of discretionary extensions that can be chalked out depending upon your specific insurance needs.
Specific Health Plans: It aids in supplying cover for critical illnesses or diseases such as kidney failure, heart attacks and so on. Many insurers offer critical illnesses plans. Targeting diseases such as diabetes and cancer, there is another set of detailed insurance plan. These plan help in offering lump sump amount on surgical treatments and hospitalizations.
Critical Illness Plan: This type of policy is devised to offer financial aid in the form of a huge chunk of amount which is a tax-free pay out amount. It aids in supplementing mediclaim, which further pays the medical expenses and hospitalization amount. In this plan one can claim for the amount which is equal to the sun assured, irrespective of the costs involved in the treatment of a critical illness mentioned in the plan.
Accidental Death Benefit: The nominee, whose name is mentioned in the policy, can claim for the policy amount, in case of the death of the policy holder due to an accident within the policy period.
Permanent and Total Disability Cover: The rider can insure against the permanent or total loss of limbs or eye sight occurred due to an accident. This payment can be received as a lump sump benefit. However, it is payable only if the disability leads to the inability of the policy holder to be in a working condition.
E Opinion Rider: This rider helps in covering the payment of the second opinion which is performed via e-consultation services for a patient who is an Indian citizen and is based in India and is suffering from a serious ailment. The individual who is the policy holder can look for a second verdict from a doctor with the network of hospitals across the world. Doctor's who are within the reach of this network must give a written report which must include a treatment plan and diagnosis within 7 working days.
Children's education allowance: In this kind of allowance, a specified allowance is paid for the payment of tuition fees and related expenses so that the child's education remains unaffected. However, make sure that this allowance can be claimed only in the period an individual policy remains active.
(Kindly note that these riders may be specific to plan or insurer and may not be accessible with all policies)
