Having a well-covered health insurance plan is vital. However, buyers are generally confused if they should opt for a regular health plan or go with a comprehensive health policy.
Health insurance is one of the most crucial policies which should be taken up by every individual. A well-covered health insurance plan can give security to every person at any point in his/her life. While the most common form of health insurance is the regular or standard health insurance policy, the broader one is a comprehensive policy.
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So, which one should customers opt for and why?
Answering this, Indraneel Chatterjee, co-founder at RenewBuy said regular health insurance is good enough to meet the basic health care requirements. However, a comprehensive health insurance policy offers extensive coverage, compared to general health insurance.
“Benefits like outpatient as well as inpatient treatments, consultations, medical tests, hospital stays etc. are covered under comprehensive health insurance,” Chatterjee said while talking exclusively to CNBC-TV18.
Hence, he suggested consumers opt for comprehensive health insurance as it can protect an individual and/or family with extended coverage.
"Most insurance companies provide pre and post hospitalization expenses for 30 days or 60 days under this cover. Dialysis, angiography, chemotherapy, radiotherapy, hydrocele, appendectomy, eye surgery etc. are also taken care of. Not just that, some comprehensive policies even cover the costs of organ donation/ transplantation. Some common critical illnesses like paralysis, stroke, cancer, coronary artery disease, heart attack, major organ transplant, chronic lung disease are also included under comprehensive health cover," he said.
On the other hand, regular health insurance plans have limitations. It might not be able to cover some of these medical conditions.
Seconding Chatterjee’s views, Aftab Chaz, Associate Director – Digital Sales at Elephant.in said comprehensive health insurance plans are always more beneficial as they cover the cost of regular health check-ups as well as critical illnesses and lifestyle diseases.
"While a regular health insurance plan might be good enough to suffice the basic necessities in medical check-ups and day to day illnesses, it would not be able to help in case of any critical or major illness. Hence, it is suggested that for proper and full protection of health coverage, an individual should opt for comprehensive health insurance. Comprehensive plans also have the option of adding riders which make them more feasible for consumers in case of any additional top-up requirement," he told CNBC-TV18.
However, above these, it is important to note that an individual understands which policy will suit him/ her the best in terms of premium and individual/ family requirements.
"There are multiple policies offered by insurance companies. So, it’s always better to take the advice of digitally-enabled insurance advisors who can guide consumers with the best insurance policy as per the consumers’ needs and requirements," Chatterjee added.
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