Gone are the days when health insurances were designed for compensating the mainstream treatments alone. Companies today are offering many benefits so that flexibilities rule over restrictions. The insurance plans offered by the companies with one or many unique features catering to the individuals and their different needs. Having complete knowledge of those lesser known facts is necessary to avail the offer at the right time. The content discloses the facts and features that are not highlighted by the insurers, but they stay in the terms of your policy. The discussion below provides you with an insight idea about the features.
Alternative treatments have always been an excluded factor for the companies.
But time changes, and so do the policies. Now companies start incorporating new factors to satisfy different needs for people. Companies are now offerings coverage on non-allopathic treatments such as Ayurveda, Unani, Siddha and Homeopathic treatments. Insurers have come up with different benefits as per their terms and conditions. While some bring the alternative treatment under the category of their primary coverage plan, some keep the alternative treatment under the sub-limit treatments.
Free health check-ups
Free health check-up option offered by the companies proves to be a beneficial plan for the policyholders. They can avail free check-up option up to a certain limit that is pre-determined by the companies. This feature has come up with certain terms. The plan is applicable for those who have continuous claim-free years. The best health insurance plans in India include this feature for their policyholders.
Domiciliary treatment is a home-based treatment done either for patient’s feeble condition or for having accommodation issue in a hospital. In such cases, insurance companies are generally providing domiciliary treatment compensation. You need to read the terms and conditions to get signed into the domiciliary treatment.
No Claim Bonus
No claim bonus goes by its name. The insured gets a bonus for every no claim year. The benefits will transform into either an increased sum insured or the premium amount discount. Generally, the companies are offering a cumulative bonus for every no claim year.
Convalescence benefit is commonly known as the recovery benefit. It is given to the policyholder only when he/she exceeds the limited periods of the hospitalization that is 10 to 12 days. This feature is a known one and it comes along with the regular health insurance.
Daily cash benefits
Daily cash benefit is given during the hospitalization to meet different charges other than the mainstream treatment.
Lifelong renewability has been an inevitable feature of the health insurance plans as per the guidelines stated by IRDA. As per the term, a policy continues lifelong if the premium is paid timely by the insured.
Sum Assured Restoration
The feature gives you the benefits of restoring the sum assured amount if you exceed the limit within a policy year. Some companies restore 100% sum assured to the insured. It comes up with the terms and conditions.
Insurance companies also offer OPD treatment benefit for covering the extra charges other than the hospitalization. For this, insured does not need to get hospitalized. Companies generally compensate for the expenses of doctor’s consultation fees, pathological tests, and cost of medicines.