Know All About the Various Add-On Covers for Your Health Insurance Policy

The changing lifestyle of people today, including their eating habits, etc., has led to an increase in the number of diseases. To add fuel to the fire, hospital bills these days have also become exorbitant for many. This makes health insurance plansthe best solution to combat the rising medical costs.

Purchasing a health insurance planacts as a financial backup for you and your family. However, a basic plan won’t always do the job. You would need to enhance your cover to fit your particular requirements by purchasing additional covers from your insurance provider. But remember, you have to pay an additional premium to avail theseextra coversunder your plan. Let us understand this in depth.

What are add-on covers?

Basic plansdo not cover everything andyour requirements might be more than what the basic health insurance plan is providing; here’s where the additional covers come into the picture. However, theydon’t come free-of-cost; because they are adding value to your existing medical plan, you must pay extra premium to avail the same. But they are worth it as they provide you with extensive coverage to meet your needs.

Here are a few add-ons that you can opt for:

  1. Daily Hospital Cash

During hospitalization, apart from the treatment costs, you also have to spend money on other non-medical things. With this cover,you will receive a daily cash allowance according to the limit mentioned in your policy documents. The amount varies with different insurance companies.

  1. Maternity Coverage

Medical expenses can becomea major concern during childbirth. A maternity cover protects you against all such expenses that come up during this time. There are a few insurance companies who provide health coverage for newborn babies as well.

  1. Rent Waiver Cover

Upon getting hospitalized, the room that you’ve been kept in also adds up to your medical bills. If you opt for a basic health insurance policy, you have a limit on room rent andyou are charged the rent per day. The limit mentioned in the policy document is paid by the insurance company while the remaining must be borne by you.

  1. Critical Illness cover

Your health insurance plan does not cover critical illnesses like kidney failure, heart attack, stroke, etc. Therefore, certain health insurance companies provide you with critical illness insurance cover that secures you against such ailments/illnesses. Many insurance companies provide this as an add-on cover while some provide it as a standalone insurance policy. If you have this add-on cover in your health plan, you receive a fixed amount for treating said critical illness.

The above-mentioned add-ons enhance your existing coverage and prove to be of great help during your times of need. Also, if you wish to cover your entire family under a single health insurance plan, you can opt for family health insurance. This way, you don’t have to purchase individual plans for your entire family.

While opting for add-ons, go online and compare multiple policies first. See which insurance company is providing you with better prices. Do not buy an add-on unless you find the perfect plan at an affordable price. Once you’ve selected the relevant add-ons, calculate their cost using the health insurance premium calculator to know the approximate amount to be paid.

Add-ons may cause a little extra but they are actually an investment. Stay insured, stay safe!

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