Know the essential riders in Health Insurance policies

A plain and simple health insurance cover is good enough for diseases and illnesses that are correspondingly simple. However, now and then, a health insurance policyholder realises with regret that his or her health policy doesn't cover something essential. This is why most modern health insurance policies are bought along with optional health insurance riders – designed to cover specific medical and healthcare-related needs. 

On Universal Health Coverage Day, let's learn about some of the essential riders that any existing or new policyholder can benefit from.

Room rent waivers 

If you go through your policy document or are looking for a policy to buy, you may have a look at the room rent section. Most policies limit the amount you can claim as hospital room rent or charges. Typically, it can be a specific amount or a percentage of the sum assured. For instance, if your room rent is Rs 2000, but your health cover has a room rent cap of Rs 1000, you won't be able to claim the additional Rs 1000. This extra coverage will help you reduce your hospitalisation costs considerably, especially as you may be in the hospital longer than expected.

Maternity cover 

Maternity cover allows you to claim expenses related to childbirth, including any expenses incurred towards the wellness of the newborn child. Maternity cover may have a waiting period during which no claims would be admissible. Maternity cover is vital as many standard health insurance policies don't cover pregnancy, labour and infant care expenses or have a low cap. 

Hospital cash 

Treatment is not the only cost of hospitalisation. You would have to face significant expenses during hospitalisation, like daily food, accommodation, and travel expenses of those taking care of you. It can also lead to a loss of pay during the period of hospitalisation or part thereof. Hospital daily cash cover offers you a daily cash allowance in case of hospitalisation. The number of days of hospitalisation required to activate this cover and the amount of allowance would vary from insurer to insurer.

Critical illness cover 

The treatment of a critical illness can be an expensive affair. A critical illness cover provides cover against major diseases, and the list of such diseases are often specified while buying critical illness health insurance riders. Such critical illnesses may cost more than the sum assured amount of standard health insurance policies. The critical illness rider tackles this by providing a lump sum amount to the insured person if he or she is undergoing critical illness treatment.

Personal accident 

The policyholder can add a personal accident rider to their health insurance policy by paying a small increment. This covers consequences of a personal accident like permanent disability, partial disability, accidental death etc. The assured amount would vary depending on the disability. Total permanent disability would have a higher compensation while loss of an eye, for instance, would be lesser. Accidental death can lead to the release of as much as twice the sum assured amount.

Surgical benefit 

It is an additional cover that can be used to cover the cost of surgery. It can be availed if the policyholder has a basic health plan and the comprehensive cover has not been availed.

OPD cover rider 

Medical expenses incurred without getting hospitalised can be covered under the OPD cover. With rising medical costs, even an OPD treatment can cost a fortune. Without hospitalisation, most health insurance policies wouldn't cover the same. This is why OPD cover is separately opted by many policyholders. 

So, the next time you renew or buy your health insurance policy, make sure you take note of the various health insurance riders available. This will help you protect yourself and your loved ones from financial stress during medical emergencies. 

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