Managing the financial implications of healthcare needs can be streamlined with proper insurance coverage. Mainstream health insurance policies provide a large degree of financial protection but sometimes, there are gaps left uncovered. That's where add-on medical insurance comes into play – it serves as a supplement to your primary mediclaim insurance, delivering additional coverage for certain health services or conditions not covered under your primary policy.
Understanding add-on medical insurance
Add-on medical insurance, also known as supplementary or supplemental insurance, refers to additional coverage options that policyholders can add to their existing health insurance policies. These add-ons are designed to fill gaps in coverage, provide enhanced benefits, or address specific healthcare needs not covered by the primary policy.
Advantages of add-on health insurance policy
The advantages of add-on health insurance policies include:
- Enhanced coverage: Add-on policies offer supplementary coverage for services such as dental care, vision care, critical illness, or specific medical treatments not covered by the primary health insurance plan.
- Tailored protection: Policyholders can customise their coverage by selecting add-ons that align with their individual healthcare needs, providing tailored protection against unforeseen medical expenses.
- Financial security: Add-on health insurance provides an extra layer of financial security, helping policyholders mitigate out-of-pocket costs associated with healthcare services and treatments.
Key features of add-on cover in health insurance
Key features of add-on cover in health insurance include:
- Flexible options: Add-on policies typically offer a range of coverage options, allowing policyholders to choose the specific benefits they want to add to their existing health insurance plan.
- Comprehensive benefits: Add-on covers may include a wide range of benefits, such as coverage for dental care, maternity expenses, alternative therapies, or international medical treatment.
- Additional riders: Some add-on policies may offer additional riders or benefits, such as emergency medical evacuation, hospital cash allowance, or wellness programs, to enhance coverage further.
Also, check: BMR Calculator
Choosing the right add-on medical insurance
When selecting add-on medical insurance, consider the following factors:
- Assess your needs: Evaluate your healthcare needs and priorities to identify areas where additional coverage may be beneficial, such as dental care, vision care, or critical illness protection.
- Review policy options: Compare add-on policies offered by different insurers, considering coverage limits, exclusions, waiting periods, and premium costs to find the best fit for your needs and budget.
- Consult with an advisor: Seek guidance from a qualified insurance advisor or broker who can help you understand your options, assess your needs, and navigate the complexities of add-on health insurance.
Read more: Benefits of health insurance
