Investing a part of your income in a health insurance policy is like securing your future medical expenses. Nowadays people are aware of the importance of health insurance and sudden emergencies can cost them a hefty amount. However, the health insurance policies bought by you may not be sufficient to cover all the medical requirements. For that purpose, there is a facility known as rider in health insurance policy that covers such additional aspects at nominal premium rates. Riders in health insurance covers can be chosen by the policyholders based on their requirements.
You can compare health insurance policies to get a better idea of the premiums charged for riders in a few clicks at MyInsuranceClub.
Health insurance plans vary among different insurers. Since we live in a dynamic world and each human needs are different, one looks forward to having a comprehensive health insurance plan. This is where the Rider covers help you in covering certain medical expenses. Choose the riders that meet your requirements and make your health insurance policy more comprehensive. But first let us understand What is a Health Insurance Rider?
About Health Insurance Riders
A rider in a health insurance policy is an extra advantage to the standard health care coverage that the policyholder can avail by paying a nominal premium. It makes it possible for the policyholder to get coverage over and above the existing health insurance cover. Utilizing riders, individuals can include additional advantages to their health policy without actually buying a whole new policy.
Top 5 Health Insurance Riders
We have enrolled a portion of the key riders that you ought to consider adding to the medical coverage strategy:
Hospital cash rider
When a policyholder is hospitalized due to any reason for more than 24 hours, he/she will receive a sum for the total number of days of admission. The amount will vary for different health insurance plans. This rider acts as a compensatory allowance for the loss of pay the insured person has to go through at time of hospitalization. For every day of hospitalization, a certain amount will be paid.
Critical illness rider
Critical illness mainly refers to any disease or ailments that are dreadful in nature such as massive heart attack, kidney failure, organ transplant, cancer, tumor etc.. Some health insurers do cover a list of critical illnesses in their plans but costs are huge. If you have purchased a critical illness rider and due to unavoidable circumstances, you are detected with one such illness, the insurers provide an immediate lump sum amount irrespective of the total expenses incurred during the actual medical treatment. It is always advisable that one must thoroughly research and do critical illness policy comparison before buying this rider.To know more about critical illness insurance plans, click here.
Maternity cover rider
When it comes to having maternity cover, there are very few health insurers that have them on their list. Having a maternity health insurance rider is a must for a newly married couple as it covers all the child birth expenses. In this rider, costs are primarily related to delivery of the baby; pre and post delivery expenses are also covered. There are various health insurance policies that you can compare which covers the expenses in regards to vaccination of the baby. Usually, such a rider can be availed once the waiting period is over. The waiting period may vary from plan to plan of different insurers.
Waiver of room rent
Many health insurance plans have a room rent capping. This criteria is usually overlooked by many policyholders as the premiums for such plans are lower. However, by adding the waiver of room rent rider, the policyholder can avail a room of his/her choice. This rider comes with no room capping, be it a general room or semi-private room at the time of hospitalization.
Personal accidental rider
This is one of the most important riders that one must definitely have with their health insurance policy. Personal accidental rider covers compensation in case of accidents which result in permanent total disablement, accidental death, permanent partial disablement and temporary total disablement. The rider can be added to your existing health insurance with a nominal premium charge. This rider can be availed only in case of injury or hospitalization due to an accident. Our trained insurance advisor will help you in personal accidental insurance comparison and finding you the best accidental insurance plan.
Conclusion
Health insurance riders were introduced with the persae of covering certain medical expenses the policyholder might have to incur. In case if you have a pre-existing illness, or going through certain ailments, it is advisable to have such riders.
You can even protect your family with the best term insurance plans. Visit MyInsuranceClub.com to have a comparative view of the various insurance plans that provide financial security to your family.
