5 ways to increase Health Insurance coverage

Posted On June 13, 2022

Health has always been a significant concern. But with the ever-increasing treatment costs, many cannot get timely medical attention. In such a scenario, their financial woes only add to their stresses. Hence, it is best tobuyHealth Insurance to avoid such occurrences. Also called Medical Insurance, it covers all the medical expenses you incur because ofany illness.

It helps finance your treatment effectively, allowing you to get the needed medical attention timely. Moreover, it pays for out-of-pocket costs like hospitalisation charges, doctor’s consultation fees, etc. But to reap the benefits of Health Insurance Plans entirely, you must have extensive coverage. Now, it is not necessary that you need to pay a high premium to enjoy such perks. Here are ways to enhance the coverage of the Insurance easily:

1.     Choose a reliable insurer

Selecting a reliable Insurance company is essential for multiple reasons. It provides access to various offerings and enables you to extend your coverage. It is best to take your time before picking a provider.Run a quick search for the most reputed ones that offer Health Insurance in India. Go through their customer reviews for more clarity.

Although good Insurance companies allow you to increase your coverage, they adhere to specific requirements. Hence, seek information about it beforehand.

2.     Consider increasing the existing sum insured

While renewing your Health Insurance Policy, the insurer offers you the option of increasing your sum insured. In such situations, you must consider doing so. Even though it might slightly increase your premium, it allows you to extend your cover. It also saves you from the waiting period for the increased sum insured. This way, you have adequate coverage for your or your family’s medical needs.

3.     Buy super top-up plans

This comes with its set of benefits. It offers additional protection to your online Health Insurance coverage. They arebeneficial in cases where your medical bills exceed your base policy’s sum assured limit. This plan also comes with a deductible and only becomes active when your hospitalisation expenses go beyond the existing coverage of your policy. This way, you can easily cover your pre and post hospitalisation bills.

4.     Buy appropriate add-on covers

Like otherGeneral Insurance, Health Insurance also offers specific add-on covers. They provide you with further coverage of your existing policy. Some of the most opted ones are:

•       Room Rent Waiver
•       Critical Illness Cover
•       Personal Accident Cover
•       Maternity Cover

If you already have a few of these, you can always buy more. Doing so booststhe Insurance coverage considerably. It lets you dodge a higher premium.

5.     Seek a cumulative bonus

When there are no claims made during the policy year, the insurer offers a cumulative bonus. It provides either of these two perks:

•       Discount on your premium
•       An added amount to the sum insured at the same premium

This way, you either opt for a discounted premium or enjoy more coverage at the same price.

Keywords used: Health Insurance, Health Insurance Plans, Health Insurance India, Health Insurance Policy, online Health Insurance