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Health Insurance Add-Ons: Know all About Health Insurance Riders

Add-ons are additional features that you can buy, as a top-up, to your base health insurance policy. Read the article to understand do add-on really add value to your plan.

  • 1,911 Views | Updated on: Dec 26, 2023

A standard health insurance policy covers the hospitalisation expenses. However, all healthcare plans have certain limitations, and they don’t cover all kinds of expenses. For example, a standard health insurance policy may not cover childbirth or maternity-related expenses. This is where add-on features or riders are useful for health insurance buyers.

What are riders or add-on covers?

Add-on cover is an additional coverage option that you can buy to extend the scope of your regular policy’s coverage. An add-on plays a significant role in providing superior protection against medical emergencies that may involve high treatment costs. Typically, the add-on covers offer protection against specific risks that are not covered under your existing health insurance policy.

How do Add-on features add value to your health insurance policy?

By buying add-ons, you can customise your health insurance plan and get protection against specific risks that you think you may need. Also, an add-on is a much cost-effective solution compared to a new health insurance policy.

Add-ons can be beneficial to the policyholder in many ways, let us understand how.

Pay off the debts

The benefits you or your family receive from the health insurance rider can be used to pay the medical expenses and other purposes like paying off the debts you may have. For example, if you have purchased a critical illness rider with your health insurance, the insurer will pay a lump sum amount upon diagnosis of any life-threatening illness covered under the policy.

Thus, the add-ons protect your family members from bearing the burden of repaying your debts.

Meet the funeral expenses

The insurance companies offer a wide variety of add-on covers to meet the different needs of the people. And amongst the host of such add-ons, one of the most popular is the burial and funeral add-on, which is beneficial for all health insurance buyers.

Under this add-on, the insurance company pay a specific percentage of the sum assured or a fixed amount (as per the policy terms), to help the family meet the expenses related to the last rites like the funeral and burial of the deceased policyholder.

Pay the child’s future expenses

The health insurance add-ons not only cover the medical expenses but also give you financial security against unforeseen events. Since most of the add-ons pay a lump sum amount upon the policyholder’s demise, your family can use it for various expenses like paying child’s education fees, etc.

With such amazing benefits of add-ons, it is fair to say these additional coverage options add tremendous value to health insurance. And now that you know about their benefits, it would help to know about the different add-ons that you can buy.

Maternity rider

– It covers all pregnancy-related expenses and childbirth.

AYUSH treatment rider

–If you want to seek alternative treatment options like Ayurveda or Yoga, generally such treatment options are not covered under a standard policy. But, with this add-on, you can get financial coverage for AYUSH treatment methods, including Ayurveda, Yoga, Unani, Siddha and Homeopathy.

Room rent waiver

– With this add-on cover, you can revise the sub-limits provided for hospital room rent under your standard policy or you can opt for no sub-limits in the room rent.

Final Word

Add-ons are a useful coverage option for all. However, to make the most of these options you must understand their features and benefits. Also, make sure that you assess your needs and choose the right add-on to cover the specific risk.

- A Consumer Education Initiative series by Kotak Life

Amit Raje
Written By :
Amit Raje

Amit Raje is an experienced marketer who has worked in various Fintechs and leading Financial companies in India. With focused experience in Digital, Amit has pioneered multiple digital commerce in India. Now, close to two decades later, he is the vice president and head of the D2C business department. He masters the skill of strategic management, also being certified in it from IIMA. He has challenged his challenges and contributed his efforts in this journey of digital transformation.

Amit Raje
Reviewed By :
Prasad Pimple

Prasad Pimple has a decade-long experience in the Life insurance sector and as EVP, Kotak Life heads Digital Business. He is responsible for developing user friendly product journeys, creating consumer awareness and helping consumers in identifying need for life insurance solutions. He has 20+ years of experience in creating and building business verticals across Insurance, Telecom and Banking sectors

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