According to statistics shared by IRDA in their annual report 20-21, around Rs 342 crore of premiums were procured through health insurance riders. This number shows how crucial these insurance riders are because they offer additional coverage and flexibility to users, with an option to customise their health insurance plans based on their specific needs and preferences.

Comprehensive health insurance plans not only offer all-round coverage, customisation facility and other benefits but also a cashless treatment facility to the insured, making it a   cashless health insurance plan.  This helps in protecting yourself from the worries of arranging funds during medical emergencies.

Types of Health Insurance Riders You Must Know

1.      Room Rent Waiver Rider

If you ever read your health insurance policy, there is a very well-known clause about expenses related to hospital room rent, famously known as the sub-limit clause.

According to this clause, if the room rent goes beyond the stated sub-limit in your policy, then the policyholder has to pay the differential amount from his pocket.

With the room rent waiver rider, you can opt for the room of your choice (regardless of the room rent, subject to certain conditions) without having to pay the differential amount.

How does Room Rent Waver Rider help?

This means if the room rent exceeds the sub-limit stated in your insurance policy, all the additional charges are automatically waived off with the help of these riders.

This comes in really handy if you require privacy for better recovery.

2.      Maternity Benefit Rider

Most insurance policies do not provide maternity health benefits in base cover.

Maternity coverage riders typically have a waiting period of almost 24 months, which can extend to 72 months in the case of certain health insurance plans.

How does Maternity Rider help?

Under maternity rider, you get coverage up to a certain percentage on expenses related to your childbirth. This coverage mainly covers your post-delivery expenses, newborn baby expenses, and vaccination expenses. Some policies may also cover a few  pre-delivery expenses.

3.      Daily Cash Hospital Rider

Hospitals are expensive, and without any systematic financial planning or coverage, your finances can go haywire. Medical treatment and other costs associated with them can put individuals and families under significant financial strain.

But when you opt for this rider, you get a specific amount (for a certain number of days, as mentioned in the policy)  from your insurance provider to manage daily cash expenses incurred at the hospital.

How does Daily Cash Hospital Rider help?

The policyholder must be admitted to the hospital for a minimum of 24 hours to avail of daily hospital rider benefits. A specific daily amount, ranging from Rs 500-3000, gets credited to the policyholder’s bank account.

In the case of ICU patients, this amount can be more. You can make use of the amount for daily medicine expenses and allied expenses such as travelling.

4.      Day 1 PED Coverage Rider

Day 1 PED Coverage Rider is important as most health insurance policies include a  waiting period for pre-existing medical conditions. Moreover, most insurers do not cover expenses related to such conditions.

How does Day 1 PED Coverage Rider help?

When you have Day 1 PED Coverage, your waiting period for such pre-existing diseases is waived off.

These diseases may include diabetes, hypertension, and hyperlipidemia. Remember, , you can opt for this health insurance rider only when you purchase the policy for the first time.

5.      OPD Cover Rider

The OPD riders cover expenses such as doctor’s consultation fees, diagnostics and other tests fees, etc. This rider is beneficial, particularly to those who often require out-patient services or have continuing medical needs without the need for hospitalisation. However, this rider has a waiting period of almost 2 years.

How does Out-Patient Department Rider help?

This rider helps to offer coverage beyond standard health insurance plans. Therefore, the financial burden associated with the routine medical care received outside of a hospital environment is taken care of.

6.      Critical Illness Rider

This health insurance rider comes in handy to tackle diseases that are critical in nature. Such diseases may include brain tumours, any form of cancer, massive heart stroke or multiple sclerosis.

Those people who have a family history of these listed diseases must opt for this cancer.

How does Critical Illness Rider in Health Insurance help?

Critical illness rider provides the insured a lump sum amount when he is diagnosed with any form of critical illness covered in his policy. The insured needs to check the list of covered critical illnesses by his insurance provider.

Conclusion

Though adding riders to your medical insurance plan can make your health insurance a bit expensive, they also make your coverage worth it. If you are calculative about your health investment, you will see that adding riders to your insurance can give you more coverage for what you pay, making it a good deal.

Disclaimer: This is a general guide on (topic). It is not intended to be a substitute for professional medical advice and should not be relied on as health or personal advice. It is advisable to consult a qualified health professional for treatment in severe cases.