Suppose a person has a heart attack, and his medical insurance policy covers all the charges of surgery. However, he has to spend a large amount on expenses after surgery, which his current insurer does not cover. There are many people who are not aware of the benefits of the additional rider that comes with it while claiming the policy. Customers can increase their benefits through these riders.
Customers should have enough knowledge about how they can take maximum benefits from the purchased policy. It is important that they buy some value-added products with their regular policy. With this, they can increase the benefits of insurance policy and together, cover some expenses which are incurred during hospitalization. There are many insurance companies in the market, which offer many value-added products.
Hospital Cash Allowance
This rider or value-added product helps customers to pay all the expenses incurred during treatment in the hospital, in addition to consulting fees and medicines charges.
Some situations are suggested to the client to choose home nursing, then he is covered by it. Most companies do not offer this expense. In this case, this rider can cover it.
Parenthood with child
If the insured is a child and needs his parents in the hospital, then regular insurance policies do not cover such charges. In such a situation, this rider can be an important help.
The charge the customer pays at the time of emergency is not covered in the general policy. In such a situation, this rider will help the customers to get additional benefits.
Many times during treatment, the client needs physiotherapy, which is not covered in the general policy. Such charges are sufficient cover in this rider.
Accompanying person’s charge
The common insurance policy does not cover the charge of the person who comes to the hospital with the patient. This charge will be covered by this rider.
Child’s Education Fund
In some cases, the insured is not in a position to work long hours due to his illness. In this case, this rider can play an important role in the education fund of the child of the insured.
(By- Deepak Yohannan, CEO, MyInsuranceClub)