8 Lesser Known Facts of Health Insurance

No doubt health insurance comes in handy when it comes to mitigating those unanticipated expenses arising out of a medical emergency. But are you aware of the fact that your health insurance is more than just a savior in covering the hospitalization expenses?

Yes, you read it right. There are many other things your health insurance plan pays for!

1. Free Health Checkups

Are you aware of the fact that your health insurance provides free health check-ups? After certain claim-free years, you can avail health check-ups at their empanelled medical centres free of cost.

2. Domiciliary and Day Care Facility

At times the feeble condition of a patient may force one to remain under observation even after getting discharged. The expenses incurred in availing the treatment at home are covered by health insurance. However, insurers may impose a cap on the amount payable.

3. Not just allopathic treatment

As per the IRDA’s guidelines, a health insurance policy can cover non-allopathic treatment such as Ayurveda, Unani, Siddha, and Homoeopathy (AYUSH). Since very long, insurers have been proving coverage towards these alternative treatments as well. The only condition is that the treatment is availed from a government-owned hospital or medical institute authorized by Quality Council of India and the National Accreditation Board for Hospitals and Healthcare. However, the insurer may impose terms and conditions while offering the benefit. While some introduce it under the realm of their policy coverage, others may keep it under the sub-limit clause.

4. Daily Hospital Cash Allowance

During hospitalisation, you can avail an additional benefit of daily cash allowance. The insurer provides you with an amount as daily allowance up to a certain limit for a certain period.

5. Lifelong Renewability

With lifelong renewability feature, by paying the policy premiums timely upon renewal, you can ensure the policy for lifelong. This feature is especially prevalent in senior citizen health insurance policies which cover them for a lifetime.

6. Recovery Benefit

Some health insurance policies come with recovery benefit where the insurer pays a lump sum towards loss of income or sponsor the compassionate visit by family member arising due to prolonged hospitalization. The range of days may vary insurer to insurer.

7. Auto Restoration of Sum Insured

Health insurance comes with the benefit of auto restoration in case you’ve exhausted the policy limit. With this facility, the sum insured gets restored automatically in the event of complete use of the sum insured. The coverage is restored for the future claims, leaving you protected throughout.

8. OPD Treatment

Your health insurance policy not only covers the hospitalization expenses but also pays the expenses incurred towards availing OPD treatment. It includes doctors’ consultation fee in OPD, laboratory tests and cost of medicines. No hospitalization is required to avail this facility.

Final Word!

Well, you’re not alone! Most of policyholders may not be aware of all the features. Due to lack of knowledge, they’re unable to fully utilize it. Hence, it is imperative to read and understand the policy final print carefully and make the most of it!