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Learn about the hidden benefits of health insurance in India

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Est Read Time 3 minutes Published on 25th Feb 2020

In today’s times when medical expenses are increasing at an alarming rate, it is imperative to take a health insurance policy for yourself and your loved ones. Apart from offering financial support during medical emergencies, a health plan offers many more benefits that policyholders may not be aware of. Hence, due to this lack of awareness among policyholders, many advantages related to health plans go unused. Here is a look at the benefits of having health insurance.

Hidden benefits of health insurance policies

1. Domiciliary treatment: Many policyholders are not aware of this important benefit. Apart from hospitalisation expenses, many insurance companies also cover treatment taken at home. This should be done under medical supervision though. However, there is a restriction on such expenses and the number of days for which domiciliary treatment benefits will be offered.
2. Recovery benefits: Most health insurance policies also offer recovery benefits to policyholders. It is also called recuperating benefits or convalescence benefits. Recovery benefits may cover additional costs, such as loss of income due to hospitalisation. For a prolonged hospitalisation, the insurer pays a lump sum to the policyholder.
3. Organ donor expenses: This is a critical procedure and an expensive one. If the organ recipient is a policyholder, his insurance company will cover the transplantation expenses to the extent of the sum insured. The same health plan covers the donor’s expenses also, but with certain restrictions.
4. Alternative treatments: Considering the increasing popularity of Ayurveda, Unani, Homeopathy and other alternative treatment options, many insurance companies are now covering these as well. The policyholders must avail of these treatments either in government hospitals or at recognised institutes, such as the National Accreditation Board on Health and Quality control of India. The coverage is limitedto a certain percentage of the sum assured.
5. Daily hospital cash allowance: Hospitalisation comes with other expenses, such as expenses on food and travel. Although these costs are not included in a basic health plan, some of the best health insurance policies cover them. However, the insured will get daily cash benefit up to a pre-determined amount only.
6. Dental treatment: Many insurance companies cover dental treatments, but with sub-limits. This cover has a waiting period as well.
7. Free health check-up :Insurers also offer free periodic health check-ups to policyholders. This is usually offered after 4 or 5 claim-free years. It is more like a reward to the policyholders for not making any claims on their health plan. As health check-ups can cost thousands of rupees, policyholders can opt for cashless health check-ups at network hospitals.
8. Mental healthcare: Considering the importance of mental health, insurance companies also cover hospitalisation expenses for mental healthcare.
9. Weight loss surgeries: Obesity is a major cause of many health conditions. Hence, insurance policies are now covering weight loss or bariatric surgeries, if they are done for medical reasons. These surgeries were earlier grouped under cosmetic procedures and were not covered under health plans.
10. Wellness benefits: Many insurance companies reward policyholders for taking care of their health and maintaining a healthy lifestyle. This is offered through wellness programmes and without any additional cost.

Is health insurance worth it in India?

Health insurance in India offers many benefits to policyholders. Considering the growing incidence of lifestyle diseases and other conditions, taking a health plan is a smart way to secure your health and finances. Here are two main benefits of health insurance.

• Financial stability: A medical emergency and hospitalisation are stressful for the entire family. However, if you have a health plan, you can avail of timely treatment without worrying about the mounting hospital bills.
• Quality treatment: When you have a health insurance policy, you need not compromise on the treatment plan due to lack of funds.

Conclusion:

Apart from hospitalisation and treatment expenses, there are many more benefits of having health insurance. Hence, make sure you take a health insurance policy for yourself and your loved ones and secure your medical needs.

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.