Understand Convalescence Benefit Under Health Insurance Policies

With soaring prices of medical care in India, a minor hospitalisation can prove to be expensive, so much that it can drain your bank account. But not when you have a health insurance policy. 

Health insurance plans are a financial safety net for you and your family during times of unexpected medical emergencies. Apart from that, you also have the mental assurance that the health insurance policy covers the treatment you might require. While there are various benefits under different types of health insurance policies, one of it is the convalescence benefit. 

What is convalescence benefit?

Most health insurance plans cover hospitalisation and the cost of treatment. But there is another feature of select few policies known as convalescence benefit. In some scenarios, you might require to be hospitalised for a prolonged duration. This can be longer than usual due to complications or exceptional circumstances. However, in these situations, the insurer pays a lump sum amount towards the recovery cost. A duration of seven to ten days may be considered for the payment. 

One highlight feature of the convalescence benefit is your insurance plan covers family visits. It means that if any of your family members live far and they wish to visit you, the cost of their travel is provided by the insurance company. This amount is subject to terms and conditions specified as per the policy. 

Why does the insurance company pay a lump sum amount?

The additional payment in the form of convalescence can be helpful to manage the medical bills post-discharge from the hospital. It can also be helpful to compensate for the loss of income in case the breadwinner of the family is availing the treatment. 

When can you claim a convalescence benefit?

Convalescence benefit can be claimed during the post hospitalisation stage. This period may be defined differently by each insurance company, and you should check the terms of the policy. Moreover, thoroughly reading the policy documents will help to know the amount of convalescence benefit that will be paid. It is advisable to know of any capping to the policy amount that will be paid. 

What are other benefits apart from convalescence benefit?

#1 Medical check-up

Individual and family health insurance plans have free medical check-up facilities included in the policy cover. It helps in early diagnosis as well as treatment of diseases. These tests can be either done at the beginning of the policy tenure or at each renewal date. The results of the test can increase or decrease your premium depending on your health.

#2 AYUSH treatment

Apart from conventional allopathic treatments, alternate forms of medication like Homoeopathy, Ayurveda, Naturopathy, Unani, Yoga, etc. are also covered by a health insurance policy. It not only broadens the treatments that you can avail, but also makes health insurance available for all. 

#3 Daily hospital cash allowance

Not all costs are related to hospitalisation. To cover ancillary costs like food, accommodation, travel, etc. insurance companies have hospital cash allowance that provides a specified amount each day for the days you are admitted to the hospital. 

Remember that your health insurance plan covers more than just hospitalisation. There are various benefits that you can opt for. A health insurance premium calculator can help you manage premiums and compare the myriad policies. Make sure to select the one that checks all the right boxes.

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