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Jun 13

Alternative Benefits of Medical Insurance

According to the National Medical Journal of India released in 2008, Road transport Injury is one of the leading causes for disability among the economically productive age group that ranges between 15 to 44 years.

The above fact stresses on the importance of buying medical insurance. The cost of medical insurance, however, has increased considerably over the years. While usual health insurance policies cover only medical costs, they do not cover additional costs associated with the treatment. Some examples of additional costs may include hospitalisation costs, commuting costs and accompanying persons’ expenses. This is exactly why you should, before settling for a policy, check the kind of alternative benefits available with the policy.

You may not require all alternative benefits that are available with medical insurance. Depending on your requirements, you may want to look for some of the following alternative advantages in your health insurance policy.

The Benefit of Convalescence : Apart from hospital and medical bills, some insurance providers also pay for recovery bills. Also known as recuperating benefit, this feature enables you to make a claim for expenses associated with the recovery from a disease. While some medical insurance providers pay for recovery expenses of up to one week, some others may pay for more. You need to check these things before settling for a deal.

Contemporary Treatment : According to the Insurance Regulatory and Development Authority (IRDA), there are draft guidelines that may enable insurance providers into covering non allopathic forms of treatment, such as Unani, Homeopathy and Ayurveda, as they may be more cost effective for some patients.

Treatment At Home : Most people think that medical insurance coverage is restricted to hospitalization and day care medical procedures. But some insurance providers permit domiciliary allowances too. This includes treatment at home under a doctor’s advice. In most cases, this is due to the fact that some patients may be unable to visit the hospital for treatment.

However, it is important to note that the kind and extent of alternative allowances and benefits may vary widely from one policy to another and from one insurance provider to another. As such, when choosing a policy, you should compare among the features of various medical insurance policies. This will help you find out whether the policy provides all or most of the alternative benefits that you might require.

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