Health and Travel insurance plans offer accidental death and disability benefits as a standard inclusion or as an additional cover. A percentage of SI or a lump sum amount will be paid for accidental death and specified benefits extended in case of accidental disability.
Here’s another option for you to enhance your health cover
As the name suggests, a ‘top-up health insurance’ policy comes in handy when you have exhausted your Sum Insured in your basic health insurance policy. Typically, it could be due to single or multiple hospitalisations in a year for which you might have utilised your basic health cover or in most of the cases provided by your employer’s Group Health Insurance Scheme.
Top-up health insurance policies will have a ‘Deductible’, chosen as per your choice. For example, if you already have a basic health insurance for Rs. 5 Lakhs, you should opt for a 5 lakhs deductible. This means, you cannot claim from the top-up policy until your treatment expenses for a particular year reaches 5 Lakhs. But, once it reaches 5 Lakhs, your top-up policy will become active and you can claim further from the same.
Top-up policy is a good option when the probability of your exhausting the basic cover is remote, but possible. The premium cost of top-up policies are low compared to basic health insurance policies.
Hence, it will be cheaper to go for a 5 Lakhs basic + 5 Lakhs top-up instead of buying a health insurance policy for 10 Lakhs.
However, the terms of applicability of claims under a top-up policy varies with every insurer. So, it is important to read and understand the terms of claims admissibility before choosing the plans.
This additional cover, if opted, will allow the insurer to pay a lump sum amount in case of first diagnosis of any one critical illness listed by the Insurer. The lump sum amount will vary depending on the plan selected.
Continue reading “Critical Illness Cover”Extended Cumulative Bonus (ECB) is an additional cover that offers added cumulative bonus for claim free years. This is over and above any normal cumulative bonus that may be a standard benefit in your health insurance plan.
Continue reading “Extended Cumulative Bonus”Out-Patient or OPD cover allows reimbursement of expenses related to out-patient consultations up to a specified sub-limit of Rs. 10,000 or 15,000 during one policy year. You can claim expenses related to consultation fees, diagnostic tests, medicines, etc., under out-patient consultation.
Continue reading “Out-Patient Cover”This additional cover allows expenses related to non-medical items like syringes, gloves, thermometer, masks, sanitisers, etc., which are not payable under any standard health insurance claim.
Hospital Cash Benefit Cover as an additional benefit under a health insurance policy will give you daily cash allowance for a specified period during hospitalisation. This daily cash allowance will help you in covering for other miscellaneous expenses related to your hospitalisation.
Home Care Benefit allow expenses towards appointing a qualified nurse to take care of the patient at home as per the advise of a Doctor. The expenses for a specified number of days in a policy period is allowed.
Maternity and Child Care covers allow expenses related to pregnancy, child birth and health cover for new born baby. Usually, these expenses are excluded in a standard individual health insurance policy. However, waiting period applies for this additional cover as per terms of the respective insurers.
Continue reading “Maternity & Child Care Cover”This additional cover allows reduction in waiting period for Pre-Existing Diseases (PED) from a usual 36 or 48 months to 24 months by paying additional premium.
Continue reading “Waiting Period Reduction”