Every health insurance policy has some untold or unnoticed benefits as well as untold demerits. It usually has much more intricate details than what is visible at first glance. If you are responsible enough to run your eyes through the profile of the policy, you will be sure to find many positive and negative clauses that may make a real difference in what you expect your policy to be. Out of them, let us pick some not so popular benefits of a health insurance policy. The perks listed here are not the routine health insurance benefits but are beneficial. Most of the people do not focus on availing them as they are not aware of them. They are definitely not the alluring concepts of your policy, but they can add real value to your health plan.
Renewal for Lifetime
A tricky part of every health insurance plan is that it has an upper percentile on the age limit for insurance coverage which is usually 70-80 years depending on the policy you buy. However, the insurer can extend the age to little farther, but it is usually not above 90 years. It is ridiculously surprising to know that your insurance policy covers you only till a particular age and when you require it the most, it will be expired by then. A life time renewal ensures that you can renew your health plan for life time in order to keep you protected under a health insurance policy irrespective of your age.
Popularly known as restore benefit or convalescence benefit, recovery benefit can be termed as offering the insured a lump-sum amount after the hospitalization. The condition is that the insured should be hospitalized for at least 10 days or more. This benefit usually handles the household expenses of the policy holder until the time he/she gets back to normalcy.
Concierge Service Benefit
These are an array of services that offer a personal help to the policy holder in the course of his/her illness. Although, this system has to still penetrate in India, there are few insurance companies which are offering services such as, suggesting medical professionals and booking their apartments, arranging things in advance, taking care of medical prescriptions and bills and many more things. These services save a lot of time for the insured and offer a great support system in times of need.
Restoration of Sum Insured
As we all know that every policy has a fixed sum to be availed during its tenure. However, there are times when this amount gets exhausted on claims. On such instances, the insured turns helpless and the policy holder has to bear his/her own expenses. The restoration feature reinstates the amount when exhausted there by allowing the policy holder to get a financial assistance at the time of an unexpected hospitalization. This feature can be termed as the crucial one amongst the 5 not so popular benefits of a health insurance policy.
Nullified Loading Charge
We all know the fact about insurance norms that every claim would be penalized and a no claim status would be rewarded by the insurer. Loading charges are nothing but the penalty for a claim on premium on a renewal. How do you like the idea of not having a loading charge even after a claim? Some popular insurance companies in India are offering a loading charge free insurance plan. You can still not get the loading charges on your premium despite filing a claim.
Due to the excessive competition prevailing amongst insurance companies in India, many value added services are coming up day by day to attract the prospective policy buyers. Ultimately, the competition may lead to a better service to the end user that is the policy holder. Be it a relationship manager for helping the policy holders through the claim process or offering a free medical suggestion to the insured or a concession on bills of fitness centers, medical stores and health clubs. Majority of insurance companies are initiating free health check-ups annually inclusive of their health insurance policy. Despite all these features existing, the crucial part on the policy holder is to have a glance on the features of the policy and understanding them to map with his/her necessities.
Hope these 5 not so popular benefits of a health insurance policy have put light on the concealed benefits of a health insurance policy and inspire the policy buyers to go through the conditions before getting into the policy coverage.