The irony, as they say, is inescapable. Medical emergency can catch anyone unaware and the damage can be far greater than what is normally assumed…medically & otherwise!
Most of us who opt for a basic health insurance plan assume that it is enough for any exigency. But the reality is that a basic plan simply makes up for the actual medical expense that you would incur during a hospitalization which includes room rent, boarding expenses, nursing, intensive care unit, drugs and consumables, diagnostic procedures, surgery etc.
The moot question arises: is that enough? What if the losses/costs are far more than expected?
The basic health insurance policy may not cover expenses related to recovery phase like extensive nursing care, counselling sessions, rehabilitation or physiotherapies, follow up medical investigations & diagnostic tests, any aids or purchases like ergonomic furniture, dietary supplements, BP monitoring tool, Glucometers etc.
In come ‘riders’. A rider is a certain add-on which gives you additional benefits. You will have to pay for the rider but usually the incremental costs are minimal. Some of the riders commonly available with health insurance policies are critical illness cover, hospital cash benefits etc. These riders may be insurer or plan specific and may not be available with all policies. Opting for Health Insurance riders with HDFC ERGO’s base health plan definitely provides insulation to such costs. They have a varied portfolio of riders that will be beneficial to you in an emergency.
Some of the riders that you can ride on:
Critical Illness Rider: This provides a Lump Sum Benefit amount on first diagnosis of the listed Illnesses covered under the plan.
Hospital Cash: This rider pays a fixed amount case of a hospitalization. If one is monitored in an ICU the benefit doubles. This can be utilized for miscellaneous expenses which may occur during the hospital stay.
Maternity: This rider pays for expenses related to child birth both for Normal and C-Section. It also pays for any Medical Termination of Pregnancy, Pre-natal and Post-natal expenses & New born expenses related to hospitalization.
Out Patient Dental: This rider reimburses costs related to medically necessary dental treatments.
Contact Lenses, Hearing Aid, Spectacles rider reimburses for costs related to the purchase such medically prescribed and necessary aids.
Convalescence Costs: For extended periods of hospitalizations typically more than 10 continuous days, a lump sum amount is paid as an add-on to the base cover.
Accidental Death: Besides medical emergency this covers the accidental risks to Life
Accidental Disability: This offers protection against losses occurring due to partial/total or temporary/permanent disability arising out of accidents. Burns , Broken Bones, Costs for Last Rites etc also are covered.
Top Up cover supplements the existing health policy, insuring a person for a larger sum insured limit at lower cost. A top up policy comes into play when the sum insured in the current policy is exhausted.