8 Health Insurance Add-Ons to Improve the Protection Of Your Plan

A whole range of Health Insurance Add-Ons are available out there. In this article, we will help you with 8 Add-on covers that you should consider to strengthen your plan's protection.

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An add-on is an optional extra that you can purchase with your health insurance policy. It will provide coverage against a specific event or medical expense that is not covered by your base plan.

Purchasing add-ons is an easy way to strengthen the protection of your insurance policy. Of course, each add-on will have its own individual price tag, but the added protection (and peace of mind) on offer is well worth the cost.

The best health insurance companies in India will offer a range of add-ons for you to choose from.

Now, while an extensive list of options is always welcome, it can also make the selection process a little difficult.

Keeping this in mind, we have highlighted 8 of the most helpful health insurance add-ons that can enhance & help tailor your policy to best match your needs.

1. Hospital daily cash

Your health insurance policy will go a long way in covering hospitalization expenses and other related medical costs. However, there are several non-medical expenses that can spring-up during your treatment and trouble your financial wellbeing. Opting for the hospital daily cash add-on will help cover these costs.

This add-on provides the policyholder with a daily payout for each day he/she is hospitalized. Under this add-on, you can avail as much as Rs 10,000 per day (depending on the sum insured of the plan) for a maximum of 30 days of hospitalization in a policy year. This can help you cover the loss of your income, any expenses incurred by accompanying family members, and several inadmissible medical expenses such as the cost of surgical accessories, X-Ray charges, and so on.

2. Maternity and newborn baby cover

Bringing a child into the world is one of the most joyous moments in life! However, the arrival of your baby also requires a lot of planning and preparation, especially on the financial front.

This is because maternity expenses have gone through the roof in the last few years. Today, the cost of childbirth can range anywhere from Rs. 20,000 to Rs. 2 lakh, depending on the type of delivery and the hospital you choose.

But fret not; you can add maternity and newborn baby cover to your health insurance policy and tackle these expenses with ease.

With this add-on, you are covered against the medical expenses of at least two deliveries (normal or C-section).

It will also take care of your baby’s medical expenses for up to 90 days from the date of delivery and should cover vaccination expenses until your child turns one.

3. OPD cover

Did you know that OPD expenses account for more than 60% of the total healthcare expenses in India?

Keeping this in mind, it makes sense to include the OPD cover in your policy.

This add-on will cover numerous expenses such as charges for doctor consultations, lab tests, pharmacy expenses, dental care, the cost of spectacles and hearing aids, etc.

The OPD add-on will also cover telemedicine expenses – this is a huge plus point given today’s social distancing norms.

4. Emergency road ambulance

As the name suggests, this add-on covers ambulance charges in case of hospitalization.

Based on your insurance provider and the sum insured of your plan, this add-on can offer coverage of up to Rs. 30,000 against road ambulance charges.

This ensures that you have access to the best care and attention en route to the hospital, which can make a huge difference in case of an emergency.

5. Critical illness cover

This is by far one of the most important add-ons in health insurance. It ensures you have adequate coverage against a number of life-threatening illnesses.

When you include the critical illness add-on to your policy, you will receive a fixed payout in case you are diagnosed with an illness covered by your plan.

This payout will be over and above the compensation of your base policy and can range from ₹ 1 lakh to ₹ 10 lakhs.

6. Medical second opinion

In case of a critical illness or a major surgery, getting a medical second opinion is extremely important. Not only will it protect you against misdiagnosis, but it will also provide you with a sense of confidence to march forward and fight the medical condition at hand.

But how does the Medical Second Opinion add-on help in this regard?

Well, when you opt for this add-on, your insurance provider will put you in contact with a specialist that will provide you with a much needed second opinion & guide you through the alternate treatment options available, if any.

7. Worldwide emergency hospitalization

With certain medical conditions, getting the best treatment could mean going overseas.

However, seeking medical attention outside of India can result in massive healthcare expenses; this is where the Worldwide Emergency Hospitalisation cover can come into play.

With this add-on, you are covered against medical expenses outside India for inpatient hospitalization due to life-threatening illnesses once in a policy year.

It ensures that quality care is never beyond bounds, even if it requires you to go beyond borders.

8. Medical inflation

The cost of medical expenses is growing at an annual rate of 12-14 percent. Therefore, a sum insured that seems sufficient today might not be nearly enough a few years down the line.

The easiest way to counter this is to opt for the medical inflation add-on. This optional extra will enhance your sum insured by a fixed percentage every year (usually 10 %) and ensure that your coverage is always at par with current medical expenses.

So there you have it – 8 of the most helpful health insurance add-ons that can help strengthen the protection of your plan. Note: this is not a ‘be all and end all’ list. There are several other add-on options that you can choose from.

Therefore, when buying or renewing a plan, take your time to understand all the available options and opt for the ones that could come in handy for you.

Just remember not to go overboard and over insure yourself - you will end up paying for cover that you do not necessarily need.

We hope this has been helpful. Good luck and take care!

Keep checking our blog for more articles where we bust myths related to insurance, help you with tips to get better protection and assist you in making the right choice when it comes to purchasing insurance.

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