We all are unique, so are our needs. Similarly when it comes to health insurance, our needs are different and same kind of policy may not suit everybody. This is the reason insurance companies provide customized health plans. To customize the plan and amend the policy conditions as per various needs insurance companies provide riders with the base plan.

What is a health insurance rider?

Health insurance rider can be called as an optional cover which can be an addition to the base policy that adds value to your health insurance plan. Though insurers charge an extra amount for each rider that gets added to your base premium but it is worth paying for as it adds value in a substantial way. Insurance Regulatory and Development Authority of India (IRDAI) has made a norm that insurers cannot charge more than 30% of the base value of the policy for any rider.

Now, how you bring weight in your policy by adding riders and utilize them depends upon how you gauge your needs and your choice of riders. Let us find out different kinds of riders that can be added to your base policy as per your individual requirement.

Maternity benefit

It provides coverage for child birth and can include complications related with it. For instance, ICICI Lombard provides coverage for cesarean section as well as lawful termination of pregnancy. Pre and post-natal cover is provided if you have a family floater policy.

Hospital daily cash

Cash is provided to the insured for each day of hospitalization in order to fulfill his hospital and medical expenses incurred by him during hospitalization. The benefit is provided for a number of days specified by the insurer in the policy.

Critical illness rider

The rider provides cover for critical illness such as cancer, organ transplant, multiple sclerosis etc. the list varies from insurer to insurer. For example Apollo Munich Health Insurance Company provides cover for eight critical illnesses. You can opt for sum insured which can be either 50% or 100% of basic sum insured and this sum insured can range between Rs 1 Lac and Rs 10 Lac.

Room rent waiver

Insurance companies do provide for room rent but it has certain capping. Due to this you will have to choose the room with rent which is not more than the amount allowed by the insurer. On choosing this rider, you are able to choose the room without any sub-limit and you do not have to pay any extra amount while getting admitted in the hospital.

Personal accident cover

This rider provides protection in case of accidental death or permanent total disablement of the policyholder due to an unfortunate accident. It can be claimed once in lifetime and once claimed, no benefit is provided thereafter.

Each rider is designed with specific needs of the policyholder in the view. It does not mean that you have to buy each and every one of them. Assess your needs as per your age, state of health as well as your family medical history. Riders are useful but only if they are bought with a well thought-out manner.