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All You Need to Know About Restoration Benefit in Health Insurance

Updated On Apr 27, 2021

Restoration benefit is an interesting aspect of health insurance as it helps the policyholders to experience the complete benefit of the health insurance policy repeatedly, even if they have used the complete sum assured against hospital expenses. The restoration benefit of health insurance is an essential rider that serves as a tremendous backup plan when a medical need arises. 

Types of Restoration Benefit in Health Insurance:

The restoration benefit serves as an excellent back up when the sum insured is replenished for the policyholders. There are generally two types of restoration options available in health care and policyholders can opt for any one of them to add more merits to their health insurance plan.

1. Complete Exhaustion: This restoration benefit will be activated only when the complete sum insured is exhausted

2. Partial Exhaustion: The benefits will be activated even with partial exhaustion of the sum insured.

Who Should Opt For Restoration Benefit Under Health Insurance?

The restoration plan is best suited for family floater plans; however, it can be clubbed with any type of health insurance. This benefit can be shared among family members and offers all of the comprehensive coverage against hospitalization expenses. If one of the family members exhaust the base cover, the other members of the family can still enjoy the cover.

This benefit is also economical though it could stretch the premium amount to a certain extent. But this extra cost helps the insured to enjoy an additional cover for themselves and their family. This plan is an add-on benefit that is leveraged upon the insurance policy and will be triggered after exhausting the complete sum insured of the policy.

Things to know about Restoration Benefit Before Adding it to the Health Insurance

Generally, the insurers restore the total sum only after the entire sum insured and the cumulative bonus are exhausted under the single claim. But some insurers also restore this benefit during hospitalization, when the partial sum insured is exhausted.

The restore benefit like the No-claim bonus cannot be carried forward to the next year. If the rider is not utilized, then the credit cannot be enjoyed in the next policy term. Policyholders should also check if the restoration benefit of a policy covers the same ailments, for which the policy has been used earlier.

In some policies, the benefit that has been used for a specific disease like a heart attack cannot be used for the same ailment again within the policy term. But the other members of the family can use this benefit for the same ailment.

Some health insurance policies have an inbuilt restore benefit within their coverage benefits, and thus there is no need to pay for an additional premium while availing the coverage. Thus it is important to check all these terms in the restoration benefit of the health insurance before buying one.

Bottom Line

Policyholders should add restoration benefits to their health insurance policy if they are looking for maximum coverage at the least cost. It increases the coverage of the health insurance policy and many health insurance policies feature an in-built restore benefit built in their coverage benefits.

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

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