Page 60 - Ebook health insurance IC27

The Insurance Times

 This plan can be taken as a stand-alone product and also as a rider with Hospital
indemnity policies.

 These plans are useful when the Hospital indemnity plan is not sufficient to cover
fully the treatment and incidental expenses.

 For example say in a normal indemnity plan room rent would be payable only up
to 2% of the sum assured. The balance amount is being paid by the insured. Now
if the takes Hospital cash plan he gets an additional amount on being admitted. So
he can cover these incidental expenses without paying from his pocket.

High deductible Hospital indemnity cover

 These are also new products recently introduced in the market. These are meant for
persons who are having hospitalisation policies with low sum insured.

 These policies provide top of coverage beyond deductible chosen at proposal stage
which may range from Rs.1 lakh Rs.5 lacs.

 The coverage in these policies start from Rs.1 lakh i.e, no claim would be paid if the
amount is below Rs.1 lakh. Theinsured has to bebear claim up to the initial deductible
amount.

 As the deductible increases the premium amount also reduces since the chances of
reaching the higher bracket of loss is less.

 This product is best suited for employees or
persons who have low sum insured in indemnity
policies and want to safeguard themselves from
heavy medical expenses.

Disease Management covers

 This is a new category of product added in the
insurance market.

6 4 Guide for Health Insurance