Best health insurance riders- Room rent waiver, maternity cover, personal accident rider, OPD cover

A health insurance policy allows a list of coverage benefits, both inbuilt as well as optional. The optional coverage benefits are also called riders, and they are meant to enhance the scope of coverage of the policy. So, if you want to customise your policy and extend its scope, you can opt for the available riders that health plans offer.

What is a rider?

Just like an additional slice of cheese on a pizza to enhance the taste, a rider is an add-on benefit along with the original insurance plan. It only enhances the scope of the overall insurance coverage.

Different health plans offer different varieties of riders. 7 of the most useful riders that you can choose for a wider coverage are as follows: 

1. Room rent waiver

This rider is very useful if your health plan has a sub-limit on the room rent. A sub-limit limits the claim pay-out if you choose a higher room rent category. The rider waives the sub-limit and allows coverage for the costs of a single private AC room. So, if your plan has a room rent limit, opt for this rider for a comprehensive cover.

Related: 7 Women-specific Health Conditions That Your Insurance Needs To Cover

2. Maternity cover

This rider is suitable if you are planning a family and your plan does not offer inbuilt coverage for maternity-related expenses. The rider would overcome the coverage shortfall and cover the medical expenses incurred on childbirth, both normal and Caesarean deliveries.

Pro tip: Maternity cover is allowed after a specified waiting period. So, opt for the rider early on so that you can wait out the waiting period before pregnancy and then enjoy the coverage when you plan your family.  

Critical illness cover

Under this rider, specified critical illnesses are covered, like cancer, first heart attack, stroke, etc. If you are diagnosed with any of the listed illnesses, a lump sum benefit is paid. This benefit helps you meet the cost of advanced medical treatments or pay for any other financial need that you might have. Also, it works as a backup savings plan in case of expensive treatments so that your wealth is not depleted!

Related: Critical Illness Rider: A Must For Indians

Personal accident rider

This rider covers accidental death and permanent disablements. A lump sum benefit is paid in such contingencies giving you and your family additional financial assistance in an accidental emergency.

OPD cover

OPD expenses are those little medical expenses that you incur on illnesses or injuries when you are not hospitalised. Health plans usually exclude OPD expenses, but with this rider, you get covered for the costs incurred on consultations, health checks, lab tests and even medicines.

Hospital cash benefit

This rider pays a daily cash allowance of a fixed amount if you are hospitalised for 24 hours or more. This comes in handy for longer treatments such as organ transplants, etc., where the duration could be a week or so. Thus, for each day of hospitalisation, you earn a cash allowance. This gives additional financial assistance to pay for the inadmissible medical costs that you incur.

Consumables cover

Consumables are medical items that have a one-time use, like syringes, bandages, gloves, etc. The cost of these items is not covered under health plans. With this rider, however, such costs get covered.

Also Read: How To Customise Your Life Insurance Policy With Riders

Note: The premium paid towards your health insurance rider also qualifies for a tax deduction under section 80D, which makes the riders even more attractive!

Now that you know what are riders, opt for one or more of them and customise your mediclaim policy. Improve the overall coverage of your health insurance plan and enjoy 360-degree protection in medical emergencies.