Health insurance: A look at lesser-known benefits

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We all know how important health insurance is for us. At the time of a medical emergency it provides financial back up. The government is also giving tax benefits to promote health insurance among the common people. A huge number of health insurance policies offered by different companies. Many features of health insurance are known. But there are also some features which you may not be aware of. Here are some lesser-known benefits of health insurance:

No-claim bonus

The no claim bonus (NCB) discount is the reward from the insurance provider to the policyholder for not raising a claim during the policy tenure. This benefit is provided by a majority of insurance companies. Some insurance companies offer a cumulative bonus for every no-claim year.

Home care

Many insurers have extended their insurance coverage for the treatment of a medical condition that can be done at home under medical supervision. This depends on the type of health insurance plan. However, insurance companies have set a limit on both the amount and the number of days that the benefit is accessible.

Lifelong renewability

This feature allows an insured person to renew the insurance plan up to 90 years of age. To avail this benefit policyholder’s have to renew their plan on time annually.

Alternative treatments cover

According to Irdai guidelines, health insurance plans are not only restricted to allopathic treatments alone. It also provides cover for treatments such as AYUSH. These treatments have been able to cure various diseases.

OPD treatment

Many insurance providers offer outpatient expenses such as consultation fees, pathological tests, and cost of medicines.

Wellness points

Many insurers also offer discounts for wellness points like the number of steps taken in a day. As per Policybazaar, 15% of customers use their wellness points as discounts while renewing their policies.

Free medical check-up

The medical check-up is a win-win situation for both the policyholder and the insurer. Many insurance companies provide free annual health check-up. Such features were earlier associated with a group insurance plan.