Six Health Insurance Riders You Can Add to a Mediclaim Policy

Rider is a type of add-on which provides you additional benefits by paying you extra cost.

Critical illness coverage, hospital cash benefits and other riders are some of the familiar riders that you can buy from your health insurance policies.

However, many riders are specific and may come with a particular policy or insurer, and they may not be available with all health policies.

This piece looks at the many riders you can buy with you health insurance Policy.

Critical Illness Riders: While a comprehensive health insurance policy helps in getting coverage for the treatment of critical illness, a basic health policy comes with some sub-limits. The Critical Illness Rider provides additional coverage where the policyholder receives a lump sum amount on diagnosis of a critical illness. Rider costs you extra 1800-1850 per year.

you must know: On the first diagnosis of the listed critical or acute illnesses covered by the policy, it provides a lump sum benefit amount after the completion of the survival period as mentioned in the policy terminology.

Naval Goel, Founder and CEO, PolicyX.com, said, “Critical illnesses can be financially burdensome and mentally depressing, especially when the patient is unable to carry on with their business and loses income. This rider is an income Acts like a replacement as the policyholder can use the money either for treatment or for personal use.”

hospital daily cash: Hospitalization means the patient cannot go to work, leading to loss of income. This additional rider provides daily allowance to the policyholder during his stay in the hospital. Insurance companies predetermine some amount that the policyholder is liable to receive.

you must know: It is similar to the daily income that policyholders get when they cannot work and financially support their family. This rider enables the policyholder to cover ongoing expenses as a replacement for income. You can avail this rider by paying approx. 550-600 additional premiums per annum*.

Ankit Agarwal, CEO and Co-Founder, InsuranceDekho, said, “The benefits are doubled if one is monitored in the Intensive Care Unit (ICU). You can use this money for any unforeseen expenses that arise during your hospital stay.”

Consumable Cover Rider: This is a new rider designed to meet the expenses of modern treatment requirements.

This rider covers the cost of consumables which are generally not covered by a comprehensive health insurance plan or one-time use only equipment like gloves, PPE kits, surgical items etc.

you must know: Insurers made this rider available in the wake of COVID-19, where the need for consumables has increased significantly as such items are often required in treatment and can put a dent in the pocket of the policyholder.

Thus, this rider helps in reducing out of pocket expenses. you may have to pay approx 450-500 per year extra to avail this rider.*

Room rent waived Health policies come with a sub-limit on the room rent paid by the insurer, wherein, if the room rent exceeds the sub-limit, the policyholder will have to pay the additional expenses out of his own pocket. This rider helps in increasing the capping prescribed for the hospital room rent by the insurance policy.

you must know“The Room Rent Waiver Rider helps you pick a room of your choice, including private and deluxe, at no extra charge,” Goyal said.

you have to pay approx 1,000 per annum over and above the base health policy premium to avail this rider.

Maternity Rider: A maternity rider covers hospitalization charges and pre and post delivery expenses. The rider usually offers cost coverage up to 30 days prior to delivery and 60 days after delivery.

you must know: This rider covers the cost of childbirth both in normal and C-section. Aggarwal said, “The maternity rider covers any medical treatment of the newborn, either normal or C-section charges, and hospitalization charges of the newborn with sub-limits as given in the policy. does not provide full sum insured for

NCB Safety Rider: You get the Non-Claim Bonus (NCB) benefit when you do not make any medical claims during the policy year; Otherwise, NCB gets cancelled. However, this NCB protection rider ensures that the policyholder gets NCB even if he raises a medical claim.

you must know: You can take the NCB Suraksha rider if you know that you will have to claim due to your health conditions. If you do not avail this rider, you will have to forgo your bonus in the form of additional coverage or discount on premium or additional sum insured. However, by purchasing this rider, you can claim and get the bonus at the time of renewal of the policy. you may have to pay approx 650-700 per annum* to additionally add this rider to your basic health policy.

*Note: Cost of riders is based on health policy chosen by a 35 year old male 10 lakh sum insured.