Health Insurance is the base policy that covers hospitalization costs for any illness or injury. You can attach add-on features with a health policy that will work towards providing the enhanced coverage.
Add-ons are additional features that you can buy, as a top-up, to your base health insurance policy. But there are caveats to know before buying add-ons. Besides, there are standalone health policies that may prove to be more beneficial. You can select the add-ons as per your individual requirements and at a lesser price than buying an entirely new policy.
Let’s go through some of the common add-on covers you can attach with a Health Insurance Plan.
Maternity Cover is required to meet expenses incurred in case of hospitalization for the birth of a child. This add-on benefit provides the cover for delivery expenses and post-natal care. While choosing this coverage, you need to check the waiting period applicable, so you can plan the buying of this additional cover well in advance to avail the coverage when you actually need it.
A critical illness add-on pays a lump sum amount upon diagnosis of the covered critical illness, regardless of the total expenses incurred. There are standalone critical illness health insurance plans that provide comprehensive coverage for the illnesses (as specified under the policy). A critical illness cover is also available as an add-on with a base health policy. When it comes to choosing the coverage for critical illnesses, you need to check the extent of coverage that will meet your healthcare needs.
Choosing a personal accident add-on feature to your existing base health insurance policy will provide the cover and compensates for accident death, permanent and temporary total/partial disablement. This add-on will provide cover for about Rs 2-5 lakh that will vary from policy to policy.
Mostly, health policies restrict the limit for room rent benefits that you can choose for in-patient hospitalization. When you choose a hospital room and if its cost goes beyond the chosen daily room rent limit, then you will have to bear that additional cost. However, by choosing a waiver on room rent, you will have the option to either choose a higher limit on room rent or can totally waive the room rent limit.
A Hospital Cash add-on cover provides you daily cash that will help you to take care of additional expenses which are usually not covered in a health insurance policy. It pays the daily allowance as specified under the coverage terms. Mostly, health policies with hospital cash benefit will pay daily cash in the range of Rs 1,000 to Rs 3,000 or more per day.
This add-on feature will provide additional health cover over and above the threshold limit. When the threshold limit (deductible) is exhausted for paying hospital bills, a top-up/super top-up add-on will cover the extra medical expenses and you don’t need to worry about the hefty medical bills.
Depending on your needs and budget, you can select a cover that works out the best for you. Do remember to read the terms and conditions in detail before making the final decision. It definitely makes more sense to have an add-on cover rather than going for a new policy!