Health insurance policies undoubtedly come with a bunch of packed benefits. There are some well-known benefits such as cashless treatment, monetary compensation against hospitalization charges, etc., while there are some benefits that are not celebrated that much although those can be considered as some of the top hidden benefits of a medical insurance plan.
Now without stretching this discussion any further, let's cut to the chase and have a detailed look at these 6 underrated yet incredibly valuable benefits of health insurance.
Convalescence Benefits
You deserve to be pampered after your discharge from the hospital, am I right?
Health insurance companies offer recuperating benefit or convalescence benefits to help you deal with your recovery expenses.
This convalescence benefit can cover your loss of income owing to the hospitalization. As per the terms and conditions of your policy, you will be eligible to receive a lump sum amount for your prolonged period of hospitalization.
Good Health Bonus
Insurance companies offer rewards in the form of No Claim Bonus (NCB) or Good Health Bonus for keeping good health. You will be eligible for a no claim bonus if you do not make any claim during the policy term. Note that this bonus is offered in the form of either discount in premium rates or increase in Sum Insured.
In a health insurance policy, NCB is also known as the cumulative bonus. Most of the providers of health insurance policies offer bonus ranging between 5% to 20% increase in Sum Insured per annum in a claim free year. However, this percentage is subject to a maximum of 50% to 100% of the Sum Insured.
Alternative Treatment
Alternative treatments have become trendy these days. Currently, many insurance providers are eager to offer you financial cover for various forms of alternative therapies like Ayurveda, UNANI, Homeopathy and Yoga.
You will be protected if any such treatments take place in government hospitals or at any institute recognized by the National Accreditation Board on Health or the Quality Council of India.
Domiciliary Treatment
If the term 'Domiciliary Treatment' makes you confused, it basically means treatment home. A number of insurance companies provide coverage for treatments taken at home.
Note that such treatments must be taken under medical supervision. However, domiciliary treatment is not covered for an indefinite number of days. So there are basically some limits fixed on the amount as well as the number of days of treatment.
Attendant Allowance
Got a child admitted in a hospital?
Insurance companies offer an attendant allowance for adults accompanying an insured child in the hospital. Note that the amount offered under this allowance is fixed and it is provided for a certain number of days.
Free Health Check-up
Most of the Health Insurance plans offer free health check-ups to the insured person.
Oh, wait!
Free health check-up benefit is offered after every 4 or 5 claim-free years.
However, you can avail a cashless health check-up given that your tests are done at any hospital that is included in your insurance provider's network of hospitals.
Inference
Did you know about any of the above-mentioned hidden benefits of health insurance plans? Most possibly you didn't. But the good news is, now you do!
So from now onwards, on your purchase of a health insurance plan online, make sure that you are considering these benefits as important. Meanwhile, you can click here to find out some of the top health insurance plans that are most suitable for you and family.
