Health insurance enables you to avail a cashless facility without paying for the treatment on spot. As insurance companies have tie-ups with various hospitals, through Third Party Administrator (TPA) they directly settle the bills with the hospital. This comes handy to the insurers as during an emergency there is immediate treatment without the requirement to pay cash on urgent basis. Be it planned or emergency, on hospitalization the insurance company needs to be informed. In case, the expenses are above the limit and items are not covered in the policy, the insured needs to settle directly with the hospital.

At times the policy does not cover cashless facility for specific hospitals. In such cases the policy holder needs to submit the original bills and receipts to the insurance company for reimbursement. Based on the reliability of the documents sent, they will accept or reject the claim. Thus, it’s advisable to treat yourself under the network of hospitals offered in the policy.

Few policies have free medical check-up in their list. While some can take provision for reimbursement of cost on health check-up based on the conditions mentioned in the policy.

Travelling cost such as the ambulance charges are covered by a few policies.

Health insurance provides this facility to its policy holders by giving them rewards for the years where there was no claim taken. This reward proposes two benefits that is increased sum assured and low premiums.

The difference in the time period of claiming one insurance to the other is said to be the waiting period. The waiting period differs from policy to policy and during that time, even if there is a medical emergency, an individual cannot claim. Some policies don’t have a waiting period and some could be ignored if policy is purchased early.

One can flexibly renew their health policy online. Some policies have lifetime renewal option.

Now policies are available online and it’s convenient for insurers to get the policy in a few clicks. This is a big change from the offline model driven by agent recommendations. In online mode, you have the opportunity to compare multiple policies and select your insurance as per your choice.

Most policy have coverage on OPD charges.

Individuals are eligible to avail a tax benefit on health insurance. Under section 80D of Income tax Act, 1961 one can avail up to Rs. 25,000 tax benefit on premium paid for self, spouse and children below 60 years of age. For a senior citizen up to Rs. 50,000 can be availed. One can even claim tax deduction on expenses incurred for preventive health check-ups, up to Rs. 5,000, as a part of section 80D.

It is an additional benefit that enhances and expands the coverage as per your requirement and at an effective cost.

Different types of Riders to Health insurance:

Room rent rider - this rider enables the policy holder to opt for a room with higher sub-limit or without sub-limits. Many insurance companies have conditions on room rent such as either general or semi-private rooms in their insurance policy. With the help of this rider insured can avail room as per their choice without paying extra at the time of admission.

Maternity Cover – this additional rider can insure the pre and post hospitalization and delivery expenses.

Hospital Cash – this rider takes care of the daily cash that the policy holder may require for taking care of the medical expenses during hospitalization.

Personal Accident Rider – this rider ensures all kinds of accidents such as accidental death, permanent total disability, permanent partial disability and temporary disability. This ensures coverage on medical expenses in case of any injury caused due to accident and includes unplanned expenses. In a situation of death caused due to the accident, the insurance company pays an additional amount of death benefit to the beneficiary based on the policy conditions.

Likewise, there are various riders or add-ons that individuals could avail as per the company’s policies and as per their requirement.