Health Insurance Plan: Nowadays it has become very important to take health insurance, but many people get confused while buying it. There are so many terms and conditions in the policy that it is difficult for even a common person to understand them. Then it is important to understand what is right for you and what is not in those terms
Health Insurance Plan: Nowadays it has become very important to take health insurance, but many people get confused while buying it. There are so many terms and conditions in the policy that it is difficult for even a common man to understand them. Then to understand what is right for you and what is not in those terms. Especially, people are more confused about riders. Riders are such extra benefits, which you can add to your policy to make it even better. It includes many benefits like OPD cover, maternity benefit, no claim bonus.
While buying health insurance, just buying a basic policy is not enough. Riders give you extra protection and save you from the huge expenses incurred during treatment. But keep in mind that you should only buy those riders which are right according to your needs. With the right planning, you can take full advantage of health insurance and deal with any medical emergency in the future without any tension. If you are buying health insurance for the first time, then let us tell you about some important riders, which can be of great use to you.
What are riders?
Riders are some extra features in health insurance, which you do not get in the basic policy. By taking them, you get more coverage and you can customize the policy according to your needs. In simple words, riders are additional security covers of your insurance policy, which prove beneficial for you in difficult times.
Maternity cover – Helpful in preparing to become parents
If you are married and planning for a child, then this cover will be very useful for you. Maternity rider covers the cost of delivery, pre-natal (care during pregnancy), post-natal (care after delivery) and in some cases the treatment of the newborn baby. However, there can be a waiting period of 9 months to 6 years, which depends on the insurance company. But if you plan in advance and add it to the policy, then it can be a very beneficial deal for you.
Critical Illness Cover – Protection from serious illnesses
If your family has a history of diseases like heart disease, cancer, kidney failure, then it would be wise to take this cover. Under this rider, if you get a serious illness, the insurance company gives you a lump sum amount, so that you can get your treatment done easily. There is a waiting period of 90 days and once the claim is made, this cover ends. If your job is also stressful or risky, then this rider will work as a safety net for you.
Hospital Cash Cover – Tension of daily expenses ends
This rider is very beneficial for those who may need long hospitalization. In this, the insurance company gives a fixed amount for every day’s stay in the hospital, so that you can take care of food, travel and minor expenses. But the benefit of this cover will be available only when the patient is admitted in the hospital for at least 24 hours.
Room Rent Waiver – Enjoy better treatment
Many times, health insurance policies have a room rent limit, meaning you will only get a specific type of room. But by taking a room rent waiver rider, you can get any room of your choice, without paying any extra charge. This means that if you want a room with better facilities, you will not have to pay money outside the policy.
OPD Rider – Cover doctor’s fees and test expenses too
If you have to visit the doctor frequently, then OPD rider can be very useful for you. It covers the cost of doctor visits, diagnostic tests, blood tests, X-rays and medicines. This rider can prove to be very beneficial especially for families with small children, as children have to be taken to the doctor again and again.
Other Important Riders
Accidental Disability Rider – This rider provides financial assistance if a disability occurs due to an accident.
Mental Wellbeing Rider – Covers the cost of treatment and therapy related to mental health, which has become very important these days.
