The data from the Indian Heart Association shows that more than 50% of reported heart attacks have occurr in people under 50 years of age. Meanwhile, 25% of heart attacks are found in individuals under 40, making cardiac health insurance policies important. Cardiac health insurance policies cover cardiovascular diseases like myocardial infarction/heart attack, refractory heart failure, cardiomyopathy, etc.
Most health insurance companies offer specialised policies and family health insurance plans to include senior citizens and patients with pre-existing ailments, including heart diseases. Cardiac health insurance plans are a sustainable solution for the policyholders to bear the rising medical expenses.
Why is getting cardiac Health Insurance important for heart patients?
Cardiac ailments are increasing, and it’s no longer limit to the older age group. Unfortunately, our sedentary lifestyle has led to many cardiovascular diseases such as high cholesterol levels, strokes, and heart attacks.
The medical expenses are also skyrocketing. It has led to purchasing health insurance with cardiac treatment benefits critical for individuals and families. People who have a family history of heart-relate ailments are also encourage to buy cardiac health insurance plans.
The primary reason to get separate health insurance policies for heart disease is to lessen the financial load of the policyholder. At the same time, they can receive the best treatments from good hospitals for complex procedures like a stent, coronary bypass surgery, heart valve repair, etc. These insurances are also useful for individuals with pre-existing heart problems. family medical insurance plans do not give such a wide scale of benefits.
Benefits of cardiac Health Insurance
There is a wide range of benefits offer by cardiac health insurance plans:
– Financial cover: The insurances help you keep calm in case of a sudden cardiac issue like a heart attack that incurs an unexpected expense. Insurers can claim a refund after treatments are over.
– Hospitalisation cover: You are compensate for treatment expenses from heart ailments and other link expenses like hospitalisation charges.
– Lumpsum payment: The policyholder is paid a lump sum amount of the sum insure if diagnose with any heart disease.
– Overseas treatment cover: Some policies cover expenses incurre from treatments done abroad.
– Loss of Income cover: Cardiac health policies also compensate patients for the loss of income while hospitalised or under treatment. Since a lumpsum amount is paid to the insure, it can also be use for other expenses.
– Tax benefit: A policyholder can receive tax benefits of up to Rs. 25,000 on the premium paid for health insurance plans for cardiac ailments under the Income Tax Act, 1961.
What are the benefits provided under cardiac Health Insurance plans?
Following expenses and benefits are cover under cardiac health insurance plans:
– In-hospitalisation expenses: Expenses accumulated at the hospital like ICU costs, etc.
– Pre- and Post-hospitalisation expenses: Similar to the expenses cover by any health insurance plan.
– OPD treatment/home treatment: Expenses from OPD treatments or domiciliary care, if advise by a doctor, are cover by some cardiac health insurance policies.
– Myocardial infarction/heart attack: Most policies cover the expenses incurred from the first heart attack where a heart muscle dies from the inadequate blood supply.
– Refractory heart failure: A patient must be diagnose by a cardiologist or have test reports with unusual biomarkers, or per the policy requirement, to get cover by the cardiac health insurance plan.
– Annual wellness programmes/Heart check-ups: Cardiac health plans also offer annual heart check-ups for cardiac patients to help maintain their cardiac health.
– Alternative treatments: Some health insurance policies for heart patients also cover alternate treatment expenses, including treatments like homoeopathy, Ayurveda, Unani, Ayush, and Siddha.
Exclusions in cardiac Health Insurance plans
Following expenses are not covered in health insurance policies for cardiac patients:
– Internal congenital diseases
– IVF and infertility treatments
– Pregnancy and childbirth-related treatments, hospitalisation, miscarriage, abortion, etc.
– Suicidal attempts and self-inflict injuries
– Hospitalisation for complications due to alcohol or drug consumption
Is it necessary to add a critical Health Insurance rider to your Health Insurance plan?
Riders are add-on benefits on your health insurance plan with a small additional payment. For instance, when you buy a life insurance policy, you can add an accidental benefit rider. Likewise, when you purchase a cardiac health insurance policy, getting riders can be a good decision in the long run.
Critical illness insurance is insurance that can be purchase in addition to an already existing health insurance of yours. It safeguards you from the expenses arising from an extende illness or life-threatening ailments. If your health conditions worsen, you can rest assure if you have critical illness insurance. The indemnity provide covers all the necessary treatment costs for you and also offers tax benefits.
Most health insurance companies offer critical health insurance riders for cardiac health plans. These riders cover ailments like heart disease, kidney disease, cancer, etc. If you are diagnose with any of the conditions mention in the rider terms, you will receive a lump sum amount on top of the sum insure for the treatment.
People can also purchase critical illness health insurance plans independently. These policies offer coverage of Rs. 25 lakh to Rs. 35 lakh.