Purchasing health insurance plans may seem drastically heavy on pockets, but it has several benefits too. On the other hand, all the incurring medical costs or treatment expenses are soaring high creating disturbance in our heads. Be it the cost of getting treated for critical illnesses, dealing with hospitalization expenses or doctor’s visits, alternative therapies, and many more, a health plan rider can help you in many terms. 

However, most of the health insurance riders may not have full coverage against a disease or critical illness treatment or some specific medical conditions. In such cases, adding on some health insurance riders such as critical illness riders, accidental death benefit riders, disability riders, terminal illness riders, etc will provide you peace of mind. But before moving ahead, let’s know the benefits of an additional health benefit rider and why it’s important to have with your base health policy. 

What are the Benefits of a health insurance rider?

There are several benefits of a health plan rider. But some of the health plan rider benefits are given here for your reference, read the below-mentioned pointers:-

• Compensation for your debts:- If you have a sufficient health benefit rider and you got ill/disabled due to an unforeseen situation/event/accident, the sum insured’s benefit will come to you in the form of a lump sum amount. And it’ll thoroughly cover your expenses in times of disability or loss of work due to the same. 
• Child’s education aid:- The claim amount of your health insurance plan can cover your child’s education expenses along with the school’s fees, and higher education plans in the future if you have a suitable rider with the base health policy. 
• Funeral expenses:- If an individual has a health insurance plan, it’ll cover his/her funeral expenses when the policyholder dies.
• Comprehensive protection:- When you take additional health insurance riders with the base health plan, it enhances the family coverage related to financial or medical help. And if you have a family floater plan, and you’ve met with an unforeseen event that you cannot bear the expenses of your family anymore, the policy will cover their requirements on your behalf. This kind of health plan or health insurance rider comes with affordable premium ranges and offers wide coverage to all the covered family members.
• Waiver of premium:- If you have a health insurance plan and you’ve opted for a waiver of premium rider, you can enjoy the coverage benefits of the overall sum insured without paying any additional premiums later. This means you can get medical coverage without paying a long-term premium after getting covered for a medical condition.
• Hassle-free management of policy:- Adding additional health insurance riders to your base policy is so easy nowadays. You can also buy riders with your health plans online from a certified and trusted insurance provider. There’s no extra effort in managing an additional rider other than the premium payments with bare minimum charges. 
• Customization flexibility:- A mediclaim policy is tailored in such a way that if your needs are not fulfilled with the base plan, you can customize it anytime. You can also use a premium calculator online to compare the most prominent riders for yourself where you can either add up to criteria like a pre-existing condition, financial budgeting, critical illness, etc. Or even if you feel your requirements are not fulfilled enough, you can remove a rider from your policy. 
• Lump sum payout:- A feature of lump sum payout is designed to provide you the financial strength when you’re not capable of earning for your family. In those times, you can receive advanced treatment without losing a heavy amount and enhance the regular income opportunity. 
• Tax benefits:- Under section 80D of the Income Tax Act, 1961, a policyholder is eligible for prevailing tax exemption benefits on the premium amount if he/she is a taxpayer. 
• Variation/diversification of plans:- There are various types of health insurance riders that an insurance company can offer you. But you would want to choose the best health insurance rider. The best way of buying the best health insurance rider is through comparing different riders online on platforms like Policyx.com which gives you the selected list of riders out of hundreds. 

Conclusion

A health insurance rider strengthens your policy and makes it comprehensively enduring to fulfil your medical or financial requirements in an emergency. If you have already a health insurance plan, adding a few riders to the base policy can give you the freedom to avoid any medical frustrations. 

It’s better to choose a health insurance rider that provides cost-effective medical aid in times of critical illness or emergency.