Here’s Why you should Ensure Health Insurance with Riders

Health care cost is becoming exorbitant day by day. If the scenario remains the same, even health insurance worth Rs. 10 lakh won’t seem sufficient to cover the expenses, if we consider the treatment of a lifestyle disease. Well, getting insured for a higher sum insured could be a solution.

But here is the catch! For a higher sum insured, you’ll have to pay a higher premium as well. What is the solution then?

Answer is- Health insurance RIDERS! Let’s get acquainted with some of the rider covers and how they help you stay insured with higher coverage.

1. Hospital Cash Rider

It is one of the most popular riders among the policyholders. This rider provides a daily cash allowance in case of hospitalisation, up to a certain limit per day. This cash is over and above from your hospitalisation expenses. You can utilise the facility for a specified number of days during hospitalisation.

2. Room Rent Waiver Rider

Those who wish to opt for a higher sum insured or health coverage can buy this cover. Usually, health insurance policies come with a cap on room rent, up to which the insurer is paid. Above this limit, the expenses have to be borne by the insured. This rider cover allows the insured to avail the room of his/her choice without worrying about paying an extra fee.

3. Maternity Rider

This is very popular among women. Usually, maternity clause is not covered by most of the health insurance; however, it can be availed as a rider cover. Childbirth or delivery related expenses can be huge which can be covered without breaking the banks saving, only with maternity insurance. However, to claim maternity insurance, the insured has to serve a defined waiting period. This policy covers the pregnant woman during pre and post natal period and the newborn from day 1 to 91 days. Some insurers cover vaccinations as well.

4. Personal Accident Waiver

With this rider cover, the insured can be compensated for accidental injuries during the policy tenure. It usually covers permanent /partial or temporary disablement, total disablement and accidental death. This policy can be clubbed with the basic health insurance policy to ensure higher coverage. Usually, personal accident cover is not included with your basic health insurance, while by opting for this cover you can be financially assured for the expenses incurred towards treatment.

5. Critical Illness Rider

This cover is proved to be tailor-made for covering the expenses incurred towards a critical illness or specific illness. This policy offers a lump sum amount on detection on the illness. Usually, the illnesses covered are a heart attack, cancer, kidney failure, organ transplant, and so on. Since it is not a part of the basic health insurance, it has to be bought separately. One condition is that the insured has to survive for a certain period after being diagnosed with the illness.

Wrapping it up!

By clubbing your basic health insurance with a rider cover, you can boost the policy coverage and remain well-assured for a higher financial shield in case of a medical emergency.