Health insurance benefits you might not be using

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You might be paying a hefty premium every month for your health insurance policy. But do you know that your mediclaim policy is more than an expense? There are many benefits that come along with your policy which you might not be taking advantage of. The insurers offer these benefits to keep their policyholders fit and healthy, which in turn reduce their claim size. It turns out to be a win-win situation for both. Here is a list of a few benefits which you might not be using.

Discounted memberships

Many insurance companies offer rewards to policyholders to incentivise them to stay healthy. The benefits motivate policyholders to practice a healthy lifestyle, which is beneficial for both the policyholder and an insurance company. For example, Bajaj Allianz General Insurance’s health insurance policies like Health-Guard or Health Infinity, reward customers by providing redeemable vouchers for a health supplement, membership in fitness centres, sports clubs, etc.

Wellness points

Many insurers also offer discounts to policyholders if they undertake the health risk assessment survey or fulfil certain wellness criteria like the number of steps taken in a day. At the time of renewal, these wellness benefit discounts can be auto-generated for the insured. According to Policybazaar, 15% of customers use their wellness points as discounts while renewing their policies. There are products like MAX ReAssure, ABHI-Activ Assure, HDFC-My Health Suraksha, HEHI- Optima Restore, Cigna Pro health which provide the option to earn wellness points.

Free medical check-up

Health insurance policies offer policyholders a free medical check-up once every 4 years. Many companies also offer it annually. While most policyholders are aware of the feature but still very few avail of the facility. While a routine health check-up is a step towards staying fit, you can avail of the facility to keep premium rates under control.