The monsoon season brings with it various diseases that can cost you a major out-of-pocket expense if not backed by the right insurance policy.
Every year 5.8 million cases of malaria are registered in India. Along with mosquito-borne diseases, potholes and poor traffic also increases the incidence of accidents on Indian roads.
After every monsoon season, there is a spurt of 10-15 per cent in claim settlement. With medical costs increasing exponentially, paying hospital bills from own pocket is no longer affordable. A comprehensive health insurance policy combined with a disease specific plan like dengue is very much essential to secure your family completely.
Do you need a dengue cover?
To diagnose dengue, the most common tests are NS1 antigen, Immunoglobulin G and Immunoglobulin M. Often, multiple rounds of these tests are required to come to any conclusion. The tests range from Rs 4,000 to Rs 5,000 and multiple cycles of them can turn out to be expensive.
Things just don’t stop at the diagnosis. If found positive, then you have to consult a doctor. In a lot of cases, the patient has to be hospitalised to take better care and undergo treatment. The cost of these treatment ranges from Rs 30,000 to Rs 5,00,000.
If you do not have cash in your bank accounts, tackling a dengue situation can put you in financial stress. Borrowing from friends can be time consuming. There is an easier alternative to it, i.e. buying an insurance policy. Some insurers have come up with a standalone cover for dengue, ensuring all the expenses of the treatment are met without you having to worry even an ounce.
Dengue based health plans do not require any medical tests prior to their approvals since dengue usually does not have any pre-existing condition. The only check being, you should not be affected by dengue virus while applying for it. Dengue based health plans are light on your pockets as well. For a cover of Rs 1 lakh you might end up paying a mere Rs 500 to Rs 700 as premium.
Few policies like Apollo Munich-Dengue Care and DHFL Pramerica-Dengue Shield provide dengue cover exclusively.
Recharge and restore
Many insurance policies come with a recharge and restore feature. The recharge option is available to you only when the sum assured along with the no-claim bonus gets exhausted in the specific policy year. The recharge is available for claims made in the future.
On the other hand, the restore sum is something that can be used post completion of total sum assured. The restore sum insured is available only for future claims and not for any issues related to claims that have already been paid in the specific year. This restore sum can be used just once during the specific year.
The author is CEO of 121 Policy.com