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Not so known benefits in your health insurance policy

Not So Known Benefits In Your Health Insurance Policy

Every Policyholder might be quite aware of the broader benefits of his/her health insurance policy but there can be some sub limits or specific benefits which we generally miss out because we don’t take the pain to read the policy document in details. Sub limits as we know that can prevent you from getting all claims settled by the insurer so you should be very clear with them while comparing plans from different insurers’ .Similar on those lines there are few unknown benefits associated with a health insurance plan which we should know so that we can reap better benefits from it. Though these benefits might sound very small considering the cost that you might have incurred during your medical treatment but they can really add value.

Few of the not so known benefits associated with your health insurance plans are:

  1. Good health Bonus: This is quite similar to the non claim bonus that you get in a car insurance plan. So if there is no claim term in your policy may be because good health practices that you have followed , you insurer would incentivize you in this case by either increasing you sum assured or may give a discount in your premium in the succeeding term. In both the cases you end up pay less for a larger amount of benefit. The most common of the benefits which insurers give is increase in sum assured. The maximum amount of benefit which a policyholder may enjoy in this case may range between 5% to 20% to a maximum of 50% to 100% of the sum assured.
  2. Free health check up benefit: Most health insurers provide free health checkup in their network hospitals to any insured after a block of either two or five no claim years. We should know that the premium rates don’t get affected by these health checkups. There are some health insurance providers which provide these health checkups with sub limits whereas some provide without any cost regardless of the claim history of the policy.
  3. Ayush cover: With rising use of alternate medical practices like Homeopathy, Ayurveda ,naturopathy etc now insurers are started covering medical treatments cost done through these methods subject to the condition that the same is done in a government accredited facility with accreditation from either Quality council of India or National Accreditation Board on Health
  4. Recovery benefits: You should know that your health insurance plan does also cover recovery post discharge from the hospital. This benefit comes as recuperating benefit in health insurance policy. Say if there is an income loss due prolonged hospitalization you may be entitled to receive a lump sum amount for the same as per the policy terms.
  5. Cover for treatment in home: In case due to non availability of hospital beds or due to extreme medical condition you are forced to take a domiciliary treatment the same can be covered fully with sub limits as per terms of the policy but it is always to subject one condition that the same has to be prescribed by a medical practitioner.
  6. Daily hospital cash allowance: During a period of hospitalization it is not only the medical and treatment cost that is involved but there are many ancillary costs. This may include travelling, food, accommodation etc which also add up to a big expenditure. A health insurance plan sometimes provides a daily hospital cash allowance to meet these expenses also. In most of the cases this fixed allowance which is given to the insured for a fixed number of days.

Read Also- Deciding Upon How Much Health Insurance Cover Do You Need?

So from the above it is surely understood there are many underlying policyholders generally miss out while making claims. For an insured person to take more benefits under a health insurance policy should possibly be aware of all the benefits associated.