Page 61 - Ebook health insurance IC27

Sashi Publications

 Under this category insurers provide cover to patient who are already
suffering from chronic diseases like diabetes and cover is provided for some
medicines and regular laboratory tests on OPD basis in addition to other
coverage.

 This product is still in very early stages in India and may be offered for more diseases
in time to come

Outpatient coverage

 In all hospitalisation indemnity products coverages are only provided if the
policyholder is hospitalised for at least 24 hours.

 In many cases it is seen that many small surgeries do not require 24 hours
hospitalisation. In these cases the policyholder has to bear themselves the cost of
treatment in spite of having hospitalisation policy.

 Though insurers are offering in some policies benefit of daycare surgeries where
they may not undergo hospitalisation but due to increased chances of moral hazard,
the product is still in development stage.

 Insurers may also launch this product if they negotiate a lower cost from the health
care providers for OPD coverage.

Investment products and health savings accounts

 This is a new category of product which offers both hospitalisation and savings.
 A part of premium collected under the policy is used for risk coverage for paying

claims and the other portion is accumulated as savings under the policy.
 This type of products are mainly offered by the life insurers
 In usual hospitalisation products the period of cover is one year and after the cover

expires no amount is refunded to the policyholder but in this product every year

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