5 health insurance policies that offer advanced benefits to customers

Among Financial Solution oriented products, health insurance has witnessed one of the most encouraging growth in awareness and penetration. The pandemic in no small measure has triggered this penetration.

Yet there is a huge vacuum given that among those covered under health insurance, a significant portion is covered only through group health insurance and amajor portion through government health insurance schemes, which is still not efficient enough in addressing the health insurance needs.

24 general insurance companies and 7 standalone health insurance products are on hunt to get a share of the health insurance business.

To move the needle in their favour, companies are employing innovation to offer more than the usual features. Health insurance policies have broken away from many of the restrictions which used to prevail. Today these policies cover outpatient treatment expenses, expenses of ayurvedic treatment, health check-up expenses, offer discounts for fit customers, reduced waiting period for pre-existing diseases etc.

Here are five such trending health insurance policies that offer advanced benefits to customers

HDFC Ergo Optima Secure

The HDFC Ergo Optima Secure provides 4X Benefits, at no additional cost.

Secure benefit is a first-of-its-kind benefit of optima secure that doubles the insurance cover you buy, instantly and automatically. This means that you get a 2X coverage from day 1, without having the need to activate or claim it, at no additional cost.

In addition to this the policy offers aplus benefit by which the base cover you choose for yourself automatically increases by 50% after 1 year, and 100% after 2 years, irrespective of any claims made.

With therestore benefit of optima secure, if any claim, partial or total, is made any time during the year, then 100% of the base cover gets restored in the policy cover automatically, at no additional cost! With this benefit, you do not have to worry about earning a full no claim bonus or a reduced bonus in case of a claim.

In case of an unfortunate hospitalisation,protect benefit of optima secure guarantees payment of consumables, which include listed non-medical expenses like gloves, masks, nebulizer kits and so on. It’s built-in, and automatically available at no extra charge.

This comprehensive policy has no room rent restrictions, no co-pay clause, covers Ayush treatments (Ayurveda, Unani, Siddha or Homeopathy), and has reasonable waiting periods for pre-existing diseases

Care Supreme

• Cumulative sum insured (SI): Up to 100% of SI per year, max up to 500% of sum insured. SI shall not reduce in case of claim

• Free health check-up: Once for all Insured every policy year

• Wellness benefit: Renewal discount on premium of upto 30% for recording 10,000 steps or more per day for 270 days in the year.

• AYUSH treatment coverage up to 100% of sum insured

• Air ambulance claim: Upto 5 lacs in a year

• Reduced waiting period for Pre existing diseases: Can be modified to 1, 2 or 3 years as opted.

• Coverage for treatment expenses at home up to 100% of sum insured under - Domiciliary hospitalisation.

• Advance technology methods covered up to 100% of sum insured

• No reduction in cumulative bonus even if you claim

Aditya Birla Activ Fit

This policy is designed for people aged 18-45, offers significant discounts for healthy individuals, no outrageous restrictions, a good restoration benefit, and a supercharged bonus feature. Here are some ofthe key features of this policy:

• Upto 50% of premium is paid back on staying active for 275 days in a year
• Up to 10% additional early bird discount on premium for age upto 35-year
• Consistent rewards/discounts motivate you to stay healthy. Discount up to 10% for up to 3 years
• Maternity expenses covered over and above base sum insured with newborn expenses, vaccination expenses and stem cell preservation.
• Get 10% bonus on sum insured per annum up to 100% of the sum insured if no claim is made during the policy year. Super no claim bonus of 50% of sum insured per annum, max up to 100%, under optional cover.
• 3 EMIs towards an existing loan amount will be paid on hospitalisation due to any illness/injury for 6 consecutive days in the policy year. EMIs will be paid as a lump sum amount post discharge from the hospital.

Bajaj Allianz Health Guard

Health guard policy provides a comprehensive range of benefits, ensuring you are covered for the larger expenses related to illness/surgery. Following are the features of this policy:

• Coverage of expenses towards organ donor’s treatment for harvesting of the donated organ.
• Road ambulance upto a maximum of Rs. 20,000 is paid
• Daily cash benefit of Rs. 500 per day up to 10 days during each policy year for reasonable accommodation expenses in respect of one parent/legal guardian, to stay with any minor insured.
• If sum insured and cumulative bonus or super cumulative bonus (if any) is exhausted due to claims registered and paid during the policy year, 100% of the base sum insured specified under inpatient hospitalisation treatment would be reinstated for the particular policy year.
• Cost of preventive health checkup reimbursed once a year.

Digit Health Care Plus

This policy of Go Digit offers coverage for alternative treatments and customizable plans. This policy provides the below benefits:

• Cost for second opinion from the panel of medical practitioners to be covered when there has been a major accidental injury.
• Cost of bariatric surgery (weight reduction) which is medically necessary, on the advice of a Medical Practitioner to be covered subject to certain conditions.
• Coverage of medical expenses related to psychiatric illness, provided the first diagnosis and hospitalisation, as an inpatient, was during the policy period.
• Complimentary health check-up.
• Infertility/ subfertility treatment expenses are covered
• Ayush treatments are covered
• Coverage of maternity expenses incurred towards the delivery of a baby or treatment related to any complication of pregnancy or medically necessary termination.

It makes great financial sense for customers to avail such health insurance policies by paying a nominal premium to protect their wallet from huge unexpected medical expenses.

V.Krishna Dassan, Director, Dhanavruksha Financial Services Pvt. Ltd.