Top Health Insurance Riders
Updated On Nov 04, 2021
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The basic health insurance plans bought by the policyholders can sometimes be insufficient in meeting the medical requirements of the people. Therefore, instead of investing in a whole new health insurance cover, policyholders can buy a rider cover or an additional health insurance plan that can enhance the coverage of the existing plan at an affordable price. Rider health insurance covers can be chosen by the policyholders based on their requirements and can be customized according to their needs.
About Health Insurance Riders
A rider is an additional benefit to the standard health insurance cover which provides extra coverage to the policyholder and amends the terms and conditions of the existing health insurance policy. It enables the policyholders to limit or extend the coverage of their existing health insurance cover. Using riders, the people can include extra benefits to their policy cost-effectively without having to purchase a new plan.
Top Health Insurance Riders
Let us look at some of the commonly bought rider plans in the insurance market, as it comes in several forms:
Must Read: Need for Riders in Health Insurance
Room Rent Waiver
Under this health insurance rider, the policyholders can choose a room with higher or no sub-limit based on their financial budget. With the help of this rider you can get rid of the cap on your room rent and enjoy quality room rent facilities while seeking treatment during hospitalisation in case of an emergency. Individuals living in metro cities should have this rider to overcome the increased cost of room rents in hospitals in metro cities.
This rider cover financially supports the individuals at the time of a childbirth as it is one of the most blissful events in one's life and it must not be affected because of monetary constraints. This rider ensures that the insurance company provides coverage and protection to the newborn child along with the mother. The expenses incurred during frequent gynaecologist visits, vaccination charges, consultation fees, delivery charges, medication prices, etc. are also a part of this plan.
This rider cover offers daily cash allowances and benefits to the policyholders for their medical expenses during hospitalization in case of an emergency. The amount of daily cash expense may range from Rs. 500 to Rs. 3,000 and it might be different for different insurers. The amount for Intensive care differs from regular hospitalization and this benefit is available only when a person seeks hospitalization for more than 24 hours.
Personal Accident Rider
This rider cover looks after all the possible medical expenses incurred after an accident. Accidental death, permanent or temporary disablement are all looked after under this rider cover for the policyholders. In case the policyholders die in the accident,their family is entitled to twice the amount under the policy. It helps the policyholders and their family in overcoming the financial constraints after going through an accident.
Critical Illness Cover
This rider plan covers the critical illnesses that are terminal in nature like heart attack, organ transplant, tumors, multiple sclerosis, and much more. The list of the included diseases can be obtained from the policy terms. Irrespective of the total expenditure incurred during the treatment, the policyholder gets the lump sum payment of the claim amount to compensate for the loss of income incurred due to the treatment of the illness. Around 10 to 15 ailments are covered under this plan, however the numbers can differ from one insurer to the other. In comprehensive plans, around 32 critical diseases are included for the policyholders. The other specifications within the rider can differ according to the needs of the policyholders as they are given the flexibility to customize the plan according to their requirements.
You must analyze your requirements and based on them you can look for a suitable rider cover to enhance your base plan. The rider covers are affordable and extensive as they offer the much needed extended coverage to the policyholders cost-effectively.
Also Read: Best Critical Illness Plans For Stroke
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.