Monday, December 17, 2012

Maternity and Critical Illness Cover: Additional Coverage Offered With Health Insurance Plans

There are different types of health insurance plans available in the market. In order to make it suitable for different sections of society, these plans offer additional coverage that is generally kept optional such that an insured can buy, only if required. It is advisable to opt for such coverage in order to stay protected. Apollo Munich has devised several types of plans in order to help people buy as per their needs.

There is a large variety of health insurance products available in the market. Each and every of these products come with a different set of benefits and coverage limits and with enticing features that draw people’s attention in no time. Many people buy these products, only after looking at these attractive features, but it is not the right means to adopt. An ideal way to buy the right plan is to focus on healthcare needs and then, shortlist plans accordingly. Once the plans are shortlisted, a person should look into all the features and coverage limits in order to know about them better. A comparative study of these products’ quotes can help a person in deciding upon the same.

Many of the products available offer additional coverage along with the plans. One of the most common coverage is maternity expenses. There are many medical insurance plans that offer additional coverage to maternity expenses. Under this coverage, an insured gets cover for maternity expenses after certain time period. It is to ensure that you do not buy plan, right just before you require the coverage, else the health insurance industry would broke down. In fact, these plans offer coverage to future medical expense. This coverage works on the principle of benefit, which offers lump sum payment, as specified in the plan’s terms and conditions.

Generally, health insurance industries have predefined the amount of money to be paid in case of normal or caesarean delivery of an insured. Hence, the compensation depends upon these limits and not upon the medical expenses incurred. When a person opts for such coverage, he or she is supposed to pay a little extra premium.

Another optional coverage that is available with pure health insurance products is Critical Illness Cover. Though this coverage can be purchased in the form of separate plan, but there are many plans that offer it as an additional benefit with healthcare products. As mentioned above, an insured pays a little extra premium on opting for this cover, but it ensures dual protection, if he or she is diagnosed suffering from any serious disorder. Under this coverage, an insurer offers lump sum payment to an insured, on being diagnosed with any enlisted critical disease.

There are certain points to look into in case of critical illness coverage. The most important of all is the number of diseases included under the coverage. More are the disease enlisted, more is the protection offered. Another important point is to carefully read the clauses of the coverage. Each and every of the disease covered has its specific definition, which needs to be fulfilled for an insurer to offer the coverage. These terms and conditions should be carefully read to avoid the troubles later.

Likewise, there are different other types of additional coverage offered by an insurer with different products. One can opt for them to ensure that he or she has more protection against future medical contingencies of life.

In addition to it, there are certain types of plans that are called top-up plans that offer cover to additional expenses or higher inpatient expenses. These plans are designed to help people enjoy life to a greater extent. There is daily cash hospital benefit plan that offer insured daily cash on being hospitalized. The amount of compensation made is directly proportional to the number of days an insured is hospitalized and the amount of daily cash chosen.

The coverage offered by this plan takes care of miscellaneous expense that an insured has to pay. It includes transportation expense, laundry charges, food and other related costs. Another type of top-up plans that are available in the market is those that offer coverage to higher inpatient treatment expenditure. These plans take care of inpatient expenses, after certain amount. Every notable insurer, like Apollo Munich, has brought in all types of plan to cater to medical needs of people. Few of its plans are also available in different variants to help people choose the one that suits the best.

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