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Posted by Royal Sundaram on 11 May 2016
Most people believe that health plans only cover hospitalization expenses. However, new products offered by insurance companies offer coverage for associated expenses as well. There are several benefits of availing such policies as discussed below:
- Flexibility: With an increase in the offering from insurance companies, individuals can now customize these plans to suit their specific needs and personal situations. In addition, family floater plans provide health coverage for all family members under a single policy. All these features offer greater flexibility to buyers.
- Cashless hospitalization: Almost all health insurance plans provide cashless hospitalization for individuals covered under the policy. This provides you with peace of mind and lowers the risk of any kind of financial crisis arising on account of hospitalization or medical expenses. Moreover, most insurers are connected with a huge network of hospitals, giving policyholders a wider and easier choice.
- Portability: Individuals who are unsatisfied with their service providers have the option of porting their coverage to another insurance company.
- Coverage for seniors: According to the IRDA regulations, insurance companies are required to issue coverage to individuals up to the age of 65 years. This makes it is easier to cover seniors during their old age, when the likelihood of illness and hospitalization is higher.
Features and benefits of Royal Sundaram Health Insurance Plan- Lifeline
Some of the notable features of the health plan are illustrated below:
|Sum Insured||INR 2 to INR 4 lakhs||INR 5, 10, 15, 20, and 50 lakhs||INR 25, 30, 50, 100, and 150 lakhs|
|Inpatient care||Up to sum Insured||Up to sum Insured||Up to sum Insured|
|Ambulance cover||Up to INR 3,000||Up to INR 5,000||Up to INR 10,000|
|Health check-up||Once in 2 years||Annually||Annually|
|Hospital allowance for stay between 3 and 30 days||INR 1,000 per day||INR 5,000 per day||INR 10,000 per day|
With its Lifeline Health Plans, Royal Sundaram offers policyholders 100% reload of the sum insured without additional charges. In addition, there is no upper limit on the room charges for hospitalization or any specified limit for diseases. Another benefit of this plan is that individuals can enjoy double sum insured coverage after 5 years of no-claims, under the Supreme & Elite plans.
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