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Should I Add the Daily Hospital Cash Rider To My Health Insurance Policy?

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  The rising costs of healthcare have made medical insurance providers sit up and take notice of the need for coverage that keeps up with the times. Thus, insurance companies now offer many new types of health insurance products and add-ons to truly give holistic financial protection during a medical emergency. One such product is the daily hospital cash rider that can be added to a health insurance plan . If you are new to the concept of this particular rider, read on to discover why you should definitely consider opting in for it. What does the daily hospital cash rider do? Even though you have a health insurance plan, there are some medical charges that do not get covered during a hospitalization. These can include the costs of certain medical accessories, daily transport of your family members to and fro as they tend to your needs, and even meals ordered apart from what the hospital provides. The daily hospital cash rider helps you in paying for all these surplus – yet essentia

Is it good to have OPD cover in health insurance?

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  Having health insurance extremely important. When an individual is affected by an illnesses and needs be hospitalized for extended periods of time, a quality health insurance policy will ensure that all the costs are taken care of. However, there are certain medical procedures & conditions that do not require hospitalization but can still take a person’s financial wellbeing. Fortunately, the best health insurance plans will offer protection against such expenses as well. This is possible through the OPD (Outpatient Department) cover which provides coverage for outpatient expenses incurred by the policyholder. Here are some of the most common expenses that fall under the OPD cover of your health insurance policy. 1) Medical Consultation: There are several occasions when an individual might have to consult a doctor regarding their medical condition. These consultation charges can be quite steep. Also, there are times when regular medical consultation is required, thereby incre

Here Is Why Seniors Need Personal Accident Insurance

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  Accidents can happen to anyone. Whether you head out to work daily or are at home, you are at possible risk of a mishap. And, a single unfortunate incident that sees you sustain a major fracture can prove extremely costly. Which is why, you must secure yourself with a personal accident insurance plan. A personal accident insurance plan covers you against death, permanent total disability, permanent partial disability, and temporary total disability after an accident. The payout received from this plan can go towards helping you meet your financial responsibilities. Now, many people often feel that only the breadwinner of the family who goes to work each day requires personal accident insurance. Hardly anyone seems to focus on the fact that seniors living at home too require the protection that this plan can bring. In this article, we take a look at why senior family members too require coverage from personal accident insurance. 1.       Death benefit If the insured person meets an a

Explaining the role of TPA in health insurance.

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  Health insurance can be a real saviour in case of a medical emergency! A good policy will ensure you never have to worry about the cost of treatment and that you focus fully on getting better. You just get to a cashless hospital that is covered under your policy and everything is taken care of for you. But have ever stopped to wonder how things are so streamlined and simple? Well, a lot of credit for the seamless experience goes to Third Party Administrators, or TPAs as they are better known. This article will explain what TPAs are and tell you what their role is in health insurance . Read on to know more! So, what are TPAs? TPAs are IRDAI authorised bodies that act as intermediaries between you and your insurance company. They provide a host of services on behalf of your insurance provider and ensure you have a smooth claim process. Claims assistance: Topping the list of important things that a TPA does is claim assistance. In case of a cashless claim, all you need to do is inform t

Day Care Treatment Vs OPD In Health Insurance

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  A single hospitalization that stretches more than a week is usually enough to wipe your savings clean. The only way by which you can receive the best in medical care while also protecting your hard-earned money is by opting in for health insurance. Indeed, health insurance holistically protects your physical, mental, and financial well-being. Now, buying health insurance for the first time can be a bit confusing. While reading the fine print, you may come across several terms that might seem alien to you. You might feel tempted to just skip the jargon; however, doing that would leave you with incomplete information. And, that is not ideal when buying something as important as health insurance. Two of the most common terms in healthcare and health insurance that are often the subject of confusion are day care procedures and OPD. In this article, we aim to help you understand the differences between these two terms in healthcare and how your insurance covers them. Day Care Procedu

All You Need To Know About The Corona Kavach Policy

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  The COVID 19 pandemic brought the world to a standstill for the better part of 2020. High rates of infection have pointed out to the many gaps existing in healthcare systems around the world. Attention was also drawn to the gaps in current health insurance policies when dealing with the new demands of this disease. To deal with the situation, the IRDAI (Insurance Regulatory and Development Authority of India) has made it mandatory for all insurance companies to offer a standard form of coronavirus-specific health insurance   called Corona Kavach Policy. This health coverage plan promises to bring much relief from the soaring medical expenses that arise due to hospitalization from a COVID-19 health complication. Let’s take a closer look at what the Corona Kavach Policy offers you. What does the Corona Kavach Policy cover? The Corona Kavach Policy covers illnesses related to infection from the novel coronavirus. The coverage includes: ·          Pre-hospitalization expenses up

A Beginner's Quick Guide To Health Insurance Top-Up Plans

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  In life, it is always good to have a plan B ready in place if things do not happen as they should. This plan B is actually your backup that offers you peace of mind. For instance, when appearing for an important examination, you would not simply carry along a single pen. You would have a second pen too just in case the first one stopped midway. We have to apply the same logic of having a backup in place when it comes to health insurance. In health insurance, your backup plan is simply referred to as a top-up plan on your medical insurance policy . Just like your spare pen comes in handy when the first one gives up midway, your top-up plan kicks into action when the coverage of your health insurance policy runs out. Now, if you are new to health insurance, you might not have heard of top-up plans at all. Or, you might have heard about these plans in passing but have no proper clue about the benefits they offer. Don’t worry for this article will take you through a few basics of top-up