What are Health Insurance Riders?

Basic health insurance policies purchased by policyholders may not always be adequate to fulfill the medical needs of the people. Rider health insurance covers are customizable to the needs of policyholders and can be chosen based on their requirements.

Health Insurance Riders

A rider is an addition to normal health insurance coverage that gives additional coverage to the policyholder while also changing the terms and conditions of the existing policy. It allows consumers to restrict or expand the scope of their current health insurance coverage. People can add extra advantages to their policy without having to buy a new one by using riders.

Top Health Insurance Riders

1. Room Rent Waiver

Policyholders can choose a room with a greater or no sub-limit based on their financial budget under this health insurance rider. With the aid of this rider, you can avoid the room rent cap and enjoy high-quality room rental services while seeking treatment at the hospital in the event of an emergency. Individuals who live in metro cities should have this rider to help them cope with the rising cost of hospital room rents.

2. Maternity Cover

This rider cover provides financial assistance to individuals during childbirth because it is one of the most joyous times in one's life and should not be hampered by financial restraints. This rider ensures that the insurance company covers and protects both the mother and the newborn kid. This plan also covers the costs of frequent gynecologist appointments, vaccinations, consultation fees, delivery fees, and medicine costs, among other things.

3. Hospital Cash

In the event of an emergency, this rider cover provides daily cash allowances and reimbursements to policyholders for medical expenses incurred while hospitalized. The amount of daily cash expense might be anything between Rs. 500 and Rs. 3,000, depending on the insurer. Intensive care has a different cost than standard hospitalization, and it is only available when a person needs to stay in the hospital for more than 24 hours.

4. Personal Accident Rider

This rider covers any potential medical bills incurred as a result of an accident. Accidental death, permanent or temporary disability, and accidental death are all covered by this rider for policyholders. In the event that the policyholders die in the accident, their family is entitled to twice the policy's payout. It aids policyholders and their families in overcoming financial difficulties following an accident.

5. Critical Illness Cover 

This rider plan covers terminal catastrophic illnesses such as heart attacks, organ transplants, cancers, multiple sclerosis, and much more. The policy terms contain a list of the diseases that are covered. The policyholder receives a lump sum payment of the claim amount regardless of the overall expense incurred during treatment to compensate for the loss of income caused due to disease treatment. This plan typically covers 10 to 15 ailments, while the exact number varies depending on the insurer. Around 32 serious diseases are covered by comprehensive insurance for policyholders. The remaining details of the rider might vary depending on the needs of the policyholders, who have the option to modify the plan to their specifications.

Take Away

You must first assess your needs before looking for a suitable rider cover to complement your base plan. The rider covers are both inexpensive and comprehensive, since they provide policyholders with much-needed expanded coverage at a low cost.

Also Read: Understanding Health Insurance Policies in General

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.