5 Hidden Benefits of Health Insurance

Health insurance policies are widely bought by the individuals to get financial compensation for their high costs of medical treatments at an affordable price. Choosing an appropriate health insurance plan for yourself and your loved ones can be hectic and therefore, you must analyze your requirements and then accordingly invest in a suitable health insurance plan. Due to its growing significance, it has become important to buy a health insurance plan in today's world. The high costs of treatments can be overcome and quality treatments can be achieved with the help of a sufficient health insurance plan.

The list of benefits of a health insurance plan is neverending, like it compensates for organ donor expenses, ambulance charges, domiciliary expenses, inpatient costs, and much more. Apart from the basic features and benefits, the health insurance plans offer some other hidden benefits too which are unknown to a lot of people.

5 Hidden Benefits of Health Insurance

Following are around five hidden benefits of a health insurance plan that can be availed by the policyholders:

Must Read: 3 Health Insurance Plans That Can Help You Amid COVID-19 Pandemic

1. Convalescence Benefits

This benefit is also known as the recovery benefit under which the health insurance providers cover for the recovery expenses of the policyholders. It offers monetary aid to the policyholders to compensate for their income loss incurred due to the hospitalization due to a medical condition. Lump sum amount of the claim amount is paid to the policyholders in case of a prolonged hospitalization and some covers also include the costs of compassionate visits of the family members.

2. Alternative Treatments Coverage

There have been variations in the treatment and therefore people have come up with alternative treatments like Ayurveda, Yoga, Unani, Siddha, and Homeopathy to treat certain diseases. These AYUSH treatments have little to no side effects and therefore they are more reliable. The health insurance providers include AYUSH coverage of a pre-specified limit for their policyholders. Policyholders can claim their AYUSH covers either at the government hospitals or an authorized medical center.

3. Organ Donor Expenses

The average cost for an organ transplant can cost the policyholders their fortune. It usually ranges from Rs. 3 Lakhs to Rs. 5 Lakhs, thus potentially burning a hole in the pocket of the policyholders. You can get regular organ donor expenses covered under your basic health insurance plan, therefore you must carefully go through your health insurance policy terms before investing. The cover for organ transplants differ from one insurer to the other, as some might offer it as an additional cover while others offer it with a cap. Expenses like post-surgical complications, donor’s hospitalization, cost of screening, etc. are covered under such plans.

4. Daily Hospital Cash Allowance

Out of the many additional perks that are offered by the health insurance providers to their policyholders, daily cash allowance is one of them. Under this cover, the insurer offers a fixed amount to the patient on a daily basis to overcome the daily expenses during the hospitalization. This amount can range up to Rs. 4000 per day in case of intensive care treatments. It looks after the travelling and food expenses of the policyholders. People can file a claim for the same depending on their medical condition.

5. Complementary Healthcare Checkup

Health insurance providers reward their policyholders by offering them free medical checkups after 2 to 4 claim free years, depending on the insurer. These are cashless medical tests that are precautionary and can be availed at the network hospital of the health insurance provider. Along with the other accumulated benefits like no claim bonus, discounts, etc. this is one of the major rewards that is granted to the policyholders.

Conclusion

Apart from the above mentioned hidden benefits of the health insurance plans for the policyholders, there are several other benefits that can be availed by the people at the time of the claim settlement procedure. To have a better understanding of your purchased health insurance plan, you must carefully go through its fine print at the time of buying.

Also Read: Health Insurance: Definition, Types, And Benefits Explained

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.