Steps To Get Full Fledged Benefits Of Health Insurance

You may not know but your health insurance comes with numerous benefits, most of which go unused as people are hardly aware of them. Here are some common health insurance benefits that you may have already heard of:

  • OPD expenses

While traditional health insurance plans needed you to stay in hospital for at least 24 hours to make a claim, the current health insurance policies also reimburse you for OPD expenses.

  • Maternity cover

If you are a young individual planning to start a family, this will be the most important health insurance benefit in India for you. Some major players in the market not only provide a maternity cover, but also reimbursement for vaccination of the new-born.

  • Cashless hospitalisation expenses

Most insurance providers have a network of hospitals offering the benefit of cashless hospitalisation to its customers. This takes out the worry of arranging immediate cash in case of an emergency.

  • Tax benefits

Under the income tax act section 80D, policy holders can avail tax benefits up to 50000. The sum insured is basically not considered as an income, hence, it is exempted from tax.

Besides these amazing benefits that your health insurance gives you, there are numerous benefits provided by your insurance provider that often go unused because of lack of awareness. Here are some health insurance benefits explained that go unused:

  • Convalescence benefit

The insurance provider under this benefit provides a lump sum amount to cover the loss of income during the recovery period of the person insured.

  • Expenses related to organ donor

A transplantation surgery when required takes a huge financial toll on the person insured. Besides the surgery and hospitalization charges, the expenses of donor are also included in the hospital bills. Your insurance policy however has a provision to cover the donor expenses as well.

  • Treatment taken at home

The general perception of health insurance and its benefits is that they only relate to expenses incurred at the hospital. But the truth is many policies provide a wider coverage to include treatments taken at home as per a doctor’s advice.

  • Alternate treatments

In the past few years, the popularity and need for alternate treatments and therapies has gone up.  This has prompted health insurance providers to cover treatments like Ayurveda, Naturopathy, Homeopathy and Yoga.

  • Daily hospital cash allowance

Many insurance providers help you cover expenses by providing a daily allowance to cover expenses like food and travelling.

  • Free health check-up

Free regular health check-up is usually provided after 4-5 claim free years, but the rules may vary from insurer to insurer.

So, now that you know a health insurance policy provides much more than a coverage for your treatment in hospitals, it is suggested that you read the policy document very carefully and do your research well to reap maximum out of your insurance.

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

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