When buying medical insurance in India, you will be presented with several options to choose from. This is because there are more insurance providers in India than you count on your fingers and each of them will offer a plethora of coverage options to choose from.
You can compare all the available plans based on factors such as claim settlement ratio, the number of cashless hospitals, reviews and ratings, etc. However, once you find the right plan, you have one more important set of choices to make; the choice of add-ons. Most Medical Insurance Plans in India will offer up to 10 or 15 different add-ons for you to choose from.
Each and every one of these add-ons can be extremely helpful. However, there are some that can prove to be especially advantageous. This article will highlight 5 such add-ons to help you craft the best coverage for your needs.
Most Used Critical Illness Add-On
Most useable add-ons in a health insurance policy. If your plan does not offer critical illness cover by default, it makes sense to have it included through an add-on. This is because the treatment of a critical illness cost a lot of money. So much so that, even with medical insurance in India, you might still end up with costs to cover out of your own pocket.
This is because critical illnesses have long treatment procedures and leave you out of work for extended periods of time. This is a dangerous combination that could eat through your health insurance coverage and your savings in no time. This is the place where the basic disease add-on can be incredibly useful. It will provide a lump sum payment over and above the sum insured of your health insurance policy to help you cope with expenses.
Important Maternity Add-On Cover
This is another important add-on you should consider when buying medical insurance in India. Not all plans offer to cover these expenses by default. You might have to purchase a separate cover in the form of a maternity add-on. This will usually cover medical expenses for 2 deliveries or lawful terminations. It should also cover medical expenses for newborn babies up to 90 days from the date of delivery including vaccination expenses till the baby completes 1 year.
Medical Inflation Add-On
Medical inflation is causing Healthcare prices to shoot through the roof. Therefore, if a sum assured that seems more than adequate today might fall short in a few years. To ensure your coverage stay in tune with the times, it is advisable to include the inflation add-on when buying medical insurance in India. This will bump up the sum assured of your plan every year to ensure your coverage is always in line with the times.
These were 3 of the most important add-ons you should consider when buying medical insurance in India. However, remember to also go through the rest of the add-ons before finalizing the plan.