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Backup Policy Plan Over Corporate Plan

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05 Jan, 2024 by  sunil

I am covered with my corporate insurance plan. However, wish to have a backup plan. Can you please suggest to research on it?

What to look for in the Plan?

What should be the coverage if its for Family or individual?

What's role of pre existing disease coverage?

Health Insurance

1 Answer

13 Jan, 2024

Hello Sunil,

When considering a backup health insurance plan, here's a checklist to guide your research:

  • Adequate coverage: Opt for sufficient sum insured to ensure protection against rising healthcare costs. To find out the cover you should opt for, you should check out this tool - It will recommend the minimum cover you should buy, whether you should buy an individual or a folater cover, how to combine effectively with Super Top-ups, and more.
  • No room-rent limits: Room-rent limits can lead to deductions if your room choice exceeds the defined limit, potentially affecting other hospitalization costs linked to the room. Opt for a plan without room-rent restrictions to avoid significant out-of-pocket expenses.
  • Covers all day-care procedures: Day care procedures includes medical procedures completed within 24 hours, reducing the need for prolonged hospital stays. Ensure the policy covers all day-care treatments, not just a specific number.
  • Covers organ donor costs: Look for plans that include the hospitalization expenses of the organ donor. This is crucial in cases of organ transplant surgeries.
  • Covers non-medical expenses: Health insurance plans typically don't cover consumables/non-medical expenses like gloves, masks, etc. Opt for a policy with a consumables cover to include these expenses, as these costs can account for a significant portion of hospital bills, making it a valuable addition.
  • No caps on treatment costs: Some policies have sub-limits on coverage for specific diseases or treatments. Check for any disease or treatment-specific coverage limits in the policy - and buy a policy without such limits.
  • No co-pay: Co-payment clause requires you to pay a portion of the hospital bill. Avoid policies with co-pay or select one with the lowest co-pay if necessary.

Also, health insurance plans have a waiting period before covering pre-existing conditions. If you or your family members have pre-existing health conditions, there will be a specific period you'll need to wait before you can start claiming for these conditions.

Taking these factors into account will help you find a comprehensive backup health insurance plan that complements your corporate coverage.

I hope this helps. Thank you!

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