As more people begin to take their health seriously, they naturally gravitate towards buying health insurance plans. Fortunately, the Indian health insurance market offers various plans to accommodate varied insurance needs. Individual health insurance policies and family floater plans are the market’s two most popular and commonly available plans.

Also Read – SAFEGUARDING MOTHERHOOD WITH METEERNITY COVER IN HEALTH INSURANCE

You can pick whatever policy type matches your requirement. Unmarried individuals with no significant responsibility tend to choose individual health insurance policies, while family people choose family floater plans. People with dependent parents can get inclined toward family health insurance plans too. But what if your requirements change over the years? It has happened with many and can happen with you too.

For example, you may have felt that an individual health insurance plan can be perfect for you, but later, you might feel the need to add your parents to the same coverage. So is adding your parents to your current health insurance plan the wisest option? Not really. Read along to find out why policyholders should think twice before adding their parents to their existing health insurance plan and the best alternative.

Effect on Overall Health Insurance Premium

If you have invested in a family floater plan or are planning to switch from an individual to a family floater plan, adding your parents to the coverage can result in a high premium. Older people are more vulnerable to diseases, illnesses, or other serious health hazards than young people. It is why including them in your current plan can significantly increase your premium amount. 

There are better ways to secure your parents than adding them to any existing policy. Having your parents covered under policies offering special coverage benefits for older people or covering more illnesses or diseases is way better than any regular health insurance plan. You should look for health insurance for parents with specialised coverage for senior citizens, and the premium is reasonable.

Also Read – SAFE AND AFFORDABLE DRINKING WATER: ESSENCE OF KNOWING HEALTH WATER

Pre-existing Illness Might Increase the Premium

Many senior family members have some existing disease or illness, mild or severe. In such a case, if you choose to add them to your current coverage, be prepared to pay high premiums. It can also affect your overall coverage; the total might become too small to cover every member’s medical requirement.

You can start filtering out policies designed especially to meet the needs of senior citizens. For such cases, it is best to look for separate health insurance plans that cover illnesses or diseases your parents are diagnosed with. Plans with a comparatively lesser waiting period, better coverage, and reasonable premiums should be your choice.

Your Chances of Claiming No-claim Bonus can be reduced

You would know about the no-claim bonus if you already have a health insurance plan. It is a reward insurance companies give to policyholders through discounted premium rates during policy renewal. It can only be availed if you don’t file claim requests for a set of consecutive years. Depending on the insurer, it can be two consecutive years, three years, or more.

When you include senior citizens in the policy, it is doubtful that you will not file claims for two or three years straight. However, there can always be exceptions. Since older people can easily catch a new disease, infection, or illness, they may require immediate medical attention and treatment at the earliest, which will require you filing for claims. Hence, buying a separate health insurance plan is best, so you don’t have to worry about losing the no-claim bonus benefit in your existing policy.

Also Read – DIABETIC EYE DISEASE – HOW IT AFFECTS YOUR EYE VISION?

Existing Coverage Might Become Insufficient

Individuals with a spouse and two children require good coverage to meet future medical costs. If you add your parents to this equation, the existing coverage might become insufficient for all. The coverage can become insignificant if your parents have any pre-existing disease or illness.

If you still want to add your dependent parents to the existing policy coverage, consider buying some relevant add-ons to upgrade your health insurance coverage. Another option is purchasing a new policy to ensure the cover doesn’t fall short at any future date. The market offers various health insurance plans geared towards the requirements of senior citizens, so start investing in one of those.

Corporate Health Insurance Coverage is Not Permanent

Most corporate employees are covered under a group health insurance policy. Although group or corporate health insurance plans generally cover the employee or policyholder and their spouse, they can also cover dependent parents on request or additional payment. The terms and conditions will vary from one company to another, so it is best to get them clarified by HR.

Will it be enough if you get your parents covered under corporate health insurance? The answer is a big no. The biggest flaw with corporate health insurance policies is they’re valid only till you work with the particular organisation.

So if you choose to leave your current company, the insurance benefits will also cease for you and your parents. If you don’t want your parents to get deprived of insurance benefits, make sure you cover them in a separate insurance plan that offers generous coverage and whose validity doesn’t depend on your employment status.

Also Read – BENEFITS OF EXERCISING DURING PREGNANCY

A Better Option to Consider

Choosing the correct health insurance policy for your family is half the work done. If you have dependent parents, you cannot risk adding them to your existing coverage. Doing so will eventually make the total coverage insignificant for each member. To ensure every family member’s needs are adequately covered, you should always look for separate health insurance plans offering higher coverage. You can choose to keep an individual health insurance plan for yourself and buy another policy to cover your parents.

Health insurance policies designed especially for senior citizens offer better coverage and add-ons than most regular health plans, so start your search accordingly. Maintaining two policies can be challenging, but it will always pay off during emergencies.

Also Read – PAIN KILLERS CAN DAMAGE KIDNEYS

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Celebrating motherhood traverses beyond just a dedicated day. Stepping into motherhood is one of life’s most remarkable transformations. Apart from phenomenal strength and patience, one also needs to ensure overall health, wellness and financial security during pregnancy and childbirth. The cost of diagnostics, procedures and hospitalization is a common concern for couples planning a family.

Going by the stats, a normal or C-Section delivery can cost anywhere from Rs 50,000-Rs 70,000. If you stay in a metro city, the cost can touch a lakh and above. Coupled with pre and post-natal expenses throughout the pregnancy, the cost can weigh heavily on an average family. Moreover, though covered by corporate insurance, the amount does not sufficiently incorporate healthcare inflation, increasing at 18-20% annually. To shield yourself and your family against these costs, you must opt for maternity benefits in your health insurance. Here’s all that you need to know about it.

What is a Maternity Cover?

Maternity cover in health insurance is designed specifically for expecting mothers to protect them against delivery or pregnancy-related costs so they can be financially at ease about welcoming their new-born into the world. These are usually provided as an additional rider with an existing health insurance policy, covered under the scope of OPD-related expenses, or offered as a part of the group policy in the company that encompasses maternity insurance.

Why is Maternity cover required?

For to-be-parents, on one end, there are pregnancy jitters, and on the other, there is the dangling worry of hospital bills that may make their financial planning go haywire. This is likely to happen in the case of child-birth complications or C-section delivery, leading to extended post-delivery hospital stays, thereby ascending the overall medical expense that would include medicines and hospital charges. Hence, with maternity health cover, you will be able to save yourself from financial distress and from using the funds you had kept aside for your baby’s future in the first step itself, i.e. delivery. Likewise, it will also offer adequate financial coverage for treatment related to pregnancy and delivery costs. Available at a low cost if wisely bought as a part of an add-on to your existing health insurance plan, this insurance is vital for the well-being of the mother and the child.

When to purchase the Maternity Cover?

Many insurance companies have thoughtfully developed maternity plans targeted at couples aged 20 to 35 years. For instance, the Aditya Birla Active Health Platinum and Enhanced Plan offer a sum assured varying from Rs 2 lacs to Rs 2 crores, with a specific amount being allotted for maternity-related hospitalization lawful medical termination of the pregnancy, and new-born baby’s expenses such as medical treatments, vaccinations. However, with most companies offering a waiting period ranging from 2 to 4 years and a few 9+ months, it is ideally recommended to purchase this add-on upon getting married or even in the middle or at the time of the health insurance policy renewal. This way, the couple can timely eliminate the waiting span and plan a baby worry-free. An important factor, however, in this case, is to opt for the maternity cover before conceiving, so the insurance firms do not deny it considering pre-existing pregnancy.

Also Read: Health insurance policies need to be more women-centric : Study

What is covered?

The maternity insurance add-on is mainly a comprehensive coverage that guards against pre-and post-hospitalization expenses, ambulance charges, and the cost of the baby from delivery to 30-90 days. A considerable advantage is that most insurance companies deliver cashless claim settlements at all network hospitals. However, for non-network hospitals, the process is to submit documents, follow the reimbursement process, and get a claim settlement. It also helps save tax benefits of Rs 25,000 in one financial year under Section 80D of the Income Tax Act, 1961.

A recent addition has been the inclusion of infertility treatments like in-vitro fertilization (IVF) by a select few insurance companies. One such plan is Star Women Care Insurance Policy, available as both an individual and a floater policy. Apart from covering regular hospitalization and preventive health check-ups, it offers coverage for assisted reproduction treatment, delivery (pre and post-natal cover), multiple medical consultations,  voluntary sterilization, and child hospitalization. Females aged 18 to 75 years can avail of this for 1, 2 and 3 years without undergoing any premedical tests to avail this policy.

What is not covered in Maternity Health Cover?

Some exclusions that should be considered by the policyholder as much as the inclusions before purchasing the plan are-

• Does not cover money spent on supplements, vitamins, or tonics as it is considered an additional expenditure.
• The maternity health insurance plan will not cover pre-existing diseases like high blood pressure, epilepsy, etc.
• Genetic medical conditions like Down syndrome, heart disease, or spina bifida in children before or at birth are not shielded.
• Existing pregnancy will not be covered at the time of purchasing a new policy

Who is Eligible to opt for the cover? 

The eligibility for purchasing the maternity cover is straightforward. You need to fulfil the entry age criterion that varies from policy to policy. Also, some insurance companies may have a cap on only two maternity claims except in case of loss.

As a closing remark, motherhood is a new chapter in women’s lives, and it is vital to ensure that the family gets all the financial and medical aid throughout the process. So, before choosing your policy, always compare online, and cross-check the waiting period, the inclusions and exclusions. Also, read the terms and conditions to obtain the maximum benefit and keep the process smooth and hassle-free.

Authored by:

Amit Chhabra

Head – Health and Travel Insurance

Policybazaar.com

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Plum, an employee health insurance platform, has launched its report – ‘Is maternity under-insured in India?.’ The report states that maternity covers offered by corporates are not in alignment with the rising cost of maternity in urban cities in India. Average cost of child-birth (vaginal births) in tier 1 cities and metros in India at private hospitals ranges between Rs. 45,000 – Rs. 55,000. On the other hand, the cost of C-sections in private hospitals can range between Rs. 70,000 and 2,00,000, depending on the level of complications.

However, while 66% of Plum’s customers have adopted maternity covers, a majority of them cover expenses up to Rs. 50,000 for up to 2 children. Only 15% of Plum’s customers, which are new-age companies, have taken covers between Rs. 1,00,000 and Rs. 1,25,000 for maternity. These companies include Twilio, Mintmesh, Evenflow, Vonage, Ironsides among others.

Through its report, Plum urges all organisations, to make workplaces more favourable for women employees by providing them with adequate insurance for maternity (important note: maternity is an optional benefit and many organisations do not opt for it due to employee demographics and cost).  Standalone retail policies for maternity are non-existent in India. Additionally in retail health insurance, there is a 90-day waiting period from the time of the child-birth for the baby to get medical insurance coverage. Group Health Insurance (GHI) policies can cover female employees and female spouses for expenses on maternity treatment, infertility and any prenatal complications and offer a baby day cover from day 1.

According to Plum’s report, ideal maternity benefits should provide a minimum cover up to Rs. 1,00,000 for tier1 cities and should have baby day covers from the very first day. The report further suggests that for workplaces to be considered equitable, they must consider the inclusion of surrogacy and adoption leave policies and benefits, same-sex partner maternity and leave benefits and paternity leave and benefits.

Abhishek Poddar, CEO and Cofounder of Plum says, “Companies today are in a position to do much better for their employees. This is not about insurance alone, this is an opportunity for us to kindle conversations around workplace equity, social justice and forward thinking. When it comes to education, women in our country are doing better than men (i.e, growing at a faster rate), but as a culture, we seem to be making it harder for them to return to work after giving birth. Companies have a responsibility towards this end, first by having clear-cut policies and then implementing them with passion and without prejudice.”

Plum itself has a Rs. 100,000 cover for maternity and a baby day one cover. He further adds, “The inclusion of a comprehensive maternity cover in Group Health Insurance comes with multiple advantages. Besides the shorter waiting period and baby cover from day 1, it goes a long way in making the workplace more equitable for women and providing them with a sense of financial security.”

Also Read: Health insurance policy : what is the need? 

Healthcare inflation in India is rising at 18-20% annually. With this backdrop, lack of proper maternity benefits could be one of the key reasons for a drop in the percentage of the women workforce from 26% in 2005 to 20.3% in 2019. Plum, which counsels its clients on the best health and wellness benefits, strongly advocates a higher benchmark for maternity benefits in group health insurance. The company also aims to accelerate the pace of health insurance adoption in India and encourage all businesses to think about employees’ health-first.

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Any person is always eager to contribute to the well-being of his/her family. When you are shouldering such a responsibility, the mental and physical health of your family members is the priority.

The ideal way to ensure you and your family members are protected is to buy health insurance as soon as you can. Family health insurance ensures you are giving your loved ones access to the best medical care and securing their present and future.

It is a smart way to get your family under the cover of insurance without compromising on any of the benefits and controlling the premium as well. Family health insurance packages ensure all members of your family, old and new, are well looked after. You can customize the package as per your needs and get the best deal.

If family health insurance is so critical, then how do you decide which is the best fit for you? Here are a few things you might want to look at while making a decision.

Also Read – Health insurance policy : what is the need?

Factors to consider while buying health insurance for family:

1. Assess the members to be included – The primary factor to consider is how many members and who all do you wish to get insured. If you are a smaller family or just a couple of you, then the Family floater health insurance plan is recommended for you.

If you are a big family with dependent aged parents, then the individual family floater plan is recommended for you. The difference is that in the first one you get a combined amount which has to be shared amongst all family members while in the latter, every person is assigned a separate amount.

The kind of policy you should get is largely dictated by the age group of the family members you wish to insure. Older people generally require more medical attention and the plan you choose should reflect this requirement.

2. Calculate the premium of policies – Designing a health insurance plan around your budget can be tricky when you wish to take care of the whole family. The best tool at your disposal is the health insurance premium calculator that can tell you the premium you will end up paying each month.

This will not only allow you to chart a course for your financial journey through the year but also give you a fair idea of whether the policy chosen by you fits in your budget or not. A premium calculator is a handy tool when you are comparing different policies and want to consider the impact of the premium paid on your savings.

Since health insurance is one of the tax-saving options you have, the premium calculator gives you a fair idea of how much you are contributing to the tax-free pot monthly as well.

Also Read –Health insurance policies need to be more women-centric

3. Identify the benefits – Premium, settlement ratio, and other such statistical data would not make any difference if the benefits of the family health insurance policy do not align with your requirements. Here are a few benefits you wish to look at when you are considering buying insurance for your family.

a. Critical illnesses – You should consider investing in your family’s health rather than a specific policy. A policy that covers critical illnesses like kidney failure, heart attack, and so on is important especially when you have aged parents depending on you. With the drastic lifestyle change, it is also possible you may have to use this cover for yourself, irrespective of your age.

b. Accidental hospitalization – Mishaps cannot be predicted and this benefit is essential irrespective of the age group of your family members.

c. Annual health checkup – Prevention is better than cure and early detection of illnesses can save a lot of time and pain. Annual health checkups are important for everyone to be done to avoid difficult situations. Psychiatric benefit

Also Read – Demand for health insurance policies have increased

4. Consider buying the additional benefits – Along with the requirements of your current family, you also need to think about what you might need in the future. If you are planning to build a family soon, then you may wish to look at maternity benefits with newborn baby cover.

There are a few additional factors that you need to consider. For example, if you prefer alternate treatments like Ayurveda, Unani, Siddha, or Homeopathy, you can have that additional benefit added to your family health insurance.

If you plan to move during the year, you should consider looking at the zone upgrade which allows you to get access to medical attention in a different city (zone) with any hiccups along the way.

5. What is not covered? – Just like you need to be aware of what is covered under your insurance policy, you should also be aware of what is not covered under it. Reading the fine print ensures you are not stuck in a sticky situation when you need the help of your family health insurance policy.

Pre-existing illnesses have a waiting period before the clause of the health insurance policy is applicable. During the waiting period, no claims can be made concerning the critical illnesses declared before.

Pre-natal and post-natal medical expenses are not covered unless it leads to hospitalization. Generally, hospitalization that is not recommended by the doctor is also not covered under the family health insurance policy.

Also Read – What is health insurance policy

The factors to consider while buying family health insurance may seem daunting but they make your life easier in the long run. The impact of these policies may be deeper than anticipated by you.

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1 in 10 people in India is said to be suffering from some form of Chronic kidney disorder (CKD), of which 2,20,000 new cases of kidney failure (stage V CKD) are reported in India each year, severe enough to need dialysis. Chronic kidney disease is a severe public health problem so much so that kidney failure is projected to be the fifth leading cause of death worldwide by 2040! On this World Kidney Day, keeping in line with the theme of ‘Living Well with Kidney” it would be pertinent to spread the much required education and awareness on how patients suffering from kidney failure can live a healthy life, maintain their role and social functioning, whilst maintaining some semblance of normality and a sense of control over their health and well-being.

One of the major hurdles for such patients is the lack of access to dialysis, which has long been a reality owing to critical shortages of dialysis equipment and staff especially during the COVID-19 pandemic. This has made the entire process even more challenging for them. However, the Indian government’s decision to include Peritoneal Dialysis (PD), an advanced and convenient technology for home-based dialysis treatment under the Pradhan Mantri National Dialysis Programme (PMNDP) in 2016 has been helping kidney failure patients to have affordable and easy access to this home-based treatment option. With the inclusion of PD in PMNDP, the government has brought down the overall cost of treatment by efficiently leveraging the resources, which in turn will help all the kidney failure patients to have easy access to the services.

‘’This move by the government was taken in a bid to make dialysis accessible to all kidney patients in the country. Notwithstanding the right intention behind the move, the policy lacks tangible and cohesive adoption plan to address problems related to chronic kidney disease (CKD) in the country. Today, the policy is incorporated only by four Indian states. Considering the burgeoning CKD numbers, conventional treatment options to treat kidney patients alone cannot suffice. It is imperative to understand the crucial role played by alternate methods such as PD in giving respite to patients,”says Dr.E.Mahesh Prof and Head Dept of Nephrology M.S.Ramaiah medical college, Bangalore

PD frees patients from the multiple visits to the clinics every week as applicable in the conventional Haemodialysis (HD) and can be performed at home without any specialized equipment. In fact, it can be easily carried out at home by the patient, often without help. Contrary to a HD session, PD is painless and needle-less procedure that allows the patient to lead a better quality of life even with the chronic ailment.  Moreover, PD is suitable even for children below five years as it does not stop them from pursuing their school or other normal activities.

Suresh Sharma a patient (name changed) said,’’ When I was introduced to Peritoneal Dialysis (PD), I was confused about handling it at home all by myself. However, when I realized that I could carry PD along with remote patient monitoring (RPM) system that records my dialysis condition simultaneously, I gained confidence. RPM system saves data and transmits it automatically to a safe platform which can be accessed by my healthcare provider. Considering the nature of end stage renal disease, patients need different settings per therapy session. When the doctor analysis my treatment history and notices any issue, he can remotely customize my dashboard and recommend changes’’

Nevertheless, private insurance companies’ latest decision of including PD under the ambit of insurance policies will help India in making renal care affordable for all. There is an increasing dialysis demand of 31 percent in the county. Including PD in insurance policies will act as a driving force for more people to opt home-based dialysis. This would prevent people from discontinuing the dialysis due to financial crunch. Today, about two-third of 70 to 80 percent kidney patients in India withdraw from dialysis and succumb to death due to financial crunch and around 60 million dialysis patients are pushed under the poverty line due to exorbitant medical bills

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Reliance General Insurance, a 100% subsidiary of Reliance Capital, has conducted a survey commissioned by research agency Nielsen to understand the behaviour and involvement of women when it comes to investment in Health Insurance. RGI aims to promote financial prudence and independence amongst millennial women

The report showed that 98% of the women believe that there should be more women centric health add-ons in the health insurance such as Menstruation/hormonal issues, PCOD treatment, Mental Illness related to Postpartum Syndrome and Osteoporosis Treatment. Women’s health has been majorly affected given their ever-evolving roles both at work as well as at home which make the need for health insurance vital.

Their bodies are biologically different from men; hence it has been noted that women are more susceptible to critical ailments such as arthritis, breast cancer, auto-immune diseases, menstruation/hormonal issue etc. It was also noticed that the top three features that women see while buying a policy is its Coverage Amount, Network of cashless hospitals it covers and claim settlement capability of the insurer.

Also, with the COVID-19 pandemic, women have displayed a unique resilience throughout the year and have realised the importance of a health insurance policy especially at the time of a crisis. The report shows that 57% of the policies purchased by women were done, only during the last one year, with three of four with at least 15 lakh coverage. The report goes on to show that 7 out of every 10 women who don’t have a health policy plan to invest in it in next 6 months. 

With Financial security being a top priority, the data revealed that as many as 61% of women investors in health insurance are the sole decision makers and financial security for their family has become the topmost trigger for buying health insurance, with the rise in medical cost and in number of new diseases.

Although decision making had gained prominence amongst women, around 7 out of 10 women are still dependent on others when it comes to buying the health insurance policy. Women feel the need to be more educated about health policies to be able to make the investment decision on their own. It has been observed that though women do the basic research on health policies online most of them finally go offline and become dependent either on an agent or a family member to take the final call on a policy. This is mainly due to lack of policy knowledge, or hesitation that women have about the particular policy or a product. 

The report is compiled based on an online survey of 547 women across Tier-I, II and III cities and among the age group of 21-45, 80% of whom were working and financially independent.

The survey shows that after years, women’s interest in health insurance as a financial security investment, has finally gained the much-desired importance in the country and as a result insurer must come up with health policies and add-ons that completely ensure women requirements and that they remain healthy and are also completely secured against any medical emergencies

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To address the increasing number of Kidney Failure patients in India, the Insurance Regulatory Development Authority of India (IRDAI) has released the much-awaited policy guidelines to include Peritoneal Dialysis (PD) in the ambit of private insurance coverage. According to the guidelines, patients taking treatment of PD can make reimbursement claims on a monthly basis through an approved pre-authorization procedure.

The provisions of the new guidelines have been in effect from 1st October 2020. According to Pradhan Mantri National Dialysis Programme (PMNDP), in India, 2.2 lakh people get affected by ESKD who are on dialysis or transplant for treatment. Dialysis becomes the only option for these patients who are waiting for the transplant. There is a demand of 3.4 crore dialysis with only 4950 dialysis centres approximately in India.

The recent development allows kidney patients to avail the benefits of the home-based and cost-effective PD therapy which can enable both patients and nephrologists to put patients on PD rather than only hemodialysis to aid the kidney failure population in the country.This will also enable both doctors and patients analyze and choose their choice of dialysis treatment based on the patient’s lifestyle. The insurance companies’ long-awaited approval of PD’s inclusion in health insurance plans also comes at an opportune time when the public is cautioned to stay indoors owing to the COVID-19 pandemic and avoid hospital-acquired infections in a healthcare setting.

“IRDAI’s decision of including Peritoneal Dialysis under insurance policies will eliminate the exorbitant expenditure associated with carrying dialysis at home as until now, only the conventional Haemodialysis was covered under insurance policy. Around 63 million people on dialysis are pushed in debt due to expenditure related to health. At times patients miss their dialysis as they fear incurring out-of-pocket expenses. It is critical to understand that every dialysis session matters when a person is suffering from kidney failure. Patients should not be given a single reason to withdraw from the treatment at any point”Now doctors can prescribe the best therapy method to ensure patients receive best treatment without compromising on quality of life.

Dr. Sunil Prakash, Director & Head, Nephrology and Renal Transplant Service, BLK Superspeciality Hospital, New Delhi commented “IRDAI’s decision of including Peritoneal Dialysis under insurance policies will eliminate the exorbitant expenditure associated with carrying dialysis at home as until now, only the conventional Haemodialysis was covered under insurance policy. Around 63 million people on dialysis are pushed in debt due to expenditure related to health. At times patients miss their dialysis as they fear incurring out-of-pocket expenses. It is critical to understand that every dialysis session matters when a person is suffering from kidney failure. Patients should not be given a single reason to withdraw from the treatment at any point” Now doctors can prescribe the best therapy method to ensure patients receive best treatment without compromising on quality of life”.

Dr Mahesh Eswarappa, Professor and Head Department of Nephrology, M.S. Ramaiah Medical College, Bangalore, commented “Insurance policies covering Peritoneal Dialysis under their ambit will save millions of lives residing in remote areas of India. Dialysis demand is growing at a rate of 31 percent in the country. Even though most of the patients suffering from end stage renal disease start dialysis, about two-third of them withdraw due to financial barrier. Earlier IRDAI had recognised only Haemodialysis under insurance schemes but now with PD’s inclusion in insurance policies, we will be able to look at both the treatments at par in terms of coverage. The country has seen less adoption of PD through the years due to high costs. As we are covering it under insurance schemes, treatment through PD should increase now”.

Earlier, only Haemodialysis was covered by health insurance policies but now, the latest revisions in the health coverage can be proven to be more comprehensive and efficient for the policyholders. PD allows patients to move freely at home and maintain a flexible lifestyle. One can perform the therapy as per convenience without having to worry about visiting a hospital unlike the conventional Haemodialysis which demands a patient to visit a hospital 3-4 times a week. PD saves patients multiple clinic visits and is generally more cost effective and scalable as it can be carried out at home and has lower infrastructural requirements.

Despite PD’s potential advantages, its penetration in the country is very poor. According to a report, there were just about 8,500 patients on PD in India in 2019. However, with effective reforms in our healthcare system, such progressive decisions can address challenges pertaining to accessibility and quality healthcare in the country to reach even the vulnerable and the marginalized sections of the society.

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Mumbai : Considering the higher incidence of mental health issues in India, especially during the on-going pandemic, Future Generali India Insurance Company Limited (FGII), announced the launch of an online mental health assessment test – Total Health Score. This unique self-assessment will enable an individual to evaluate the quality of one’s mental well-being. FGII encourages everyone to take their mental health seriously and emphasises that one’s mental health is as important as physical health to be healthy inside out.

The Total Health Score is a questionnaire & API based assessment that is designed by practicing therapists and counsellors who understand the early signs of potential mental health issues. Once the individual completes the assessment s/he will be attributed a score that outlines the current state of his/her mental health. In addition, s/he will have access to self-care content to understand & manage various mental health issues like stress, anxiety, depression and other related concerns. The self-care content is developed by mental health experts specially for Future Generali.

Anup Rau, MD & CEO, Future Generali India Insurance said, “Our objective is to be a lifetime partner for our customers and demonstrate expertise with a human touch. We can only achieve this if we truly understand India’s cultural norms & constraints and enable some difficult conversations. We all know that mental health is considered a taboo. As a brand, we want to steer healthy conversations around mental well-being and change people’s approach towards it. The starting point of this mindset change is to get people to understand that mental health is as important as physical health and give them quantifiable ways to measure it.  Hence, we created the Total Health Score, a simple questionnaire and API based score that helps quantify your mental health at the time of taking the test.”

Anyone interested in knowing their health score can take this assessment on FGII’s website or use the FG Insure app.

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Cholamandalam Investment & Finance Company Limited (Chola), the financial services arm of Murugappa Group, has collaborated with Sri Sathya Sai Sanjeevani Hospitals to provide cardiac treatment and care to children of truck drivers, cleaners and mechanics from anywhere in the country. Chola has pledged to support the surgical heart procedures on these children whose ages range from new born upto 18 years with a total outlay of INR 132 lakhs towards the ‘Healing Little Hearts Programme’ during 2019 – 2021.

Commenting on the initiative, Mr. Arun Alagappan, Managing Director, Cholamandalam Investment & Finance Company Limited said, “Trucking is today one of the most important links that facilitates productivity and competitive efficiency, leading to rapid economic development of the country. It also plays a key role in bringing about the development of the remote regions by opening them to trade and investment and integrating them with the mainstream economy. Yet the lives of truck drivers, cleaners and mechanics are adversely affected by inconveniences, poor facilities, and the absence of rules and regulations. The stressful and challenging nature of the work influences their physical as well as mental health. This initiative is a small step from our end to bring some de-stress and happiness into their lives.”

Sri Sathya Sanjeevani Hospitals will provide cardiac care for the children of trucking staff from three centres: Sri Sathya Sai Sanjeevani Center for Child Heart Care, Raipur (Chhattisgarh); Sri Sathya Sai Sanjeevani International Centre for Child Heart Care & Research, Palwal (Haryana); Sri Sathya Sai Sanjeevani Centre for Child Heart Care & Training in Pediatric Cardiac Skills, Navi Mumbai (Maharashtra)

Speaking on the partnership with Chola, Dr. Subramanian Chellappan- Director Sri Sathya Sai Sanjeevani Hospital- Palwal, Haryana said, “In India, every year around 2.4 Lakh children are born with Congenital Heart Disease (CHD) with this being one of largest cause of child mortality. Sai Sanjeevani Hospitals addresses India’s this national burden of Congenital Heart Disease by providing all services Totally Free of Cost to all”.

He adds “We are happy to be partnering with Chola in saving little hearts of children from trucking community. Most of the trucking staff come from financially not-so-well-off backgrounds, and more so when it comes to healthcare costs for ailments beyond normal fever and cold. And when it comes to complicated cardiac procedures and transplants, it’s clearly beyond their means. Over the past 6 months, we have completed 9 successful procedures ranging from VSD Surgical Closure, DCRV Repair, Supracardiac TAPVC Repair, Ventricular Septal Defect, PDA Ligation, Intra-cardiac repair for TOF correction and ASD Closure. The cost for each of these procedures range anywhere between INR 80,000/- to INR 4,00,000/ in private hospitals. This gracious support from Chola is not just going to give second life to these children but is going to uplift these families financially and socially. And our biggest reward is the smile on the children’s and their parents’ faces.”

Chola is committed to identifying and supporting programmes aimed at empowerment of the disadvantaged sections of the society through education, access to and awareness about financial services and the like; provision of access to basic necessities like healthcare, drinking water & sanitation and the like to underprivileged; working towards eradicating hunger and poverty, through livelihood generation and skill development; supporting environmental and ecological balance through afforestation, soil conservation, rain water harvesting, conservation of flora & fauna, and similar programme; promotion of sports through training of sportspersons; undertaking rural development projects;  and any other programme that falls under their CSR policy and are aimed at the empowerment of disadvantaged sections of the society.

“Chola has been upholding Murugappa Group’s tradition by earmarking a part of its income for carrying out its social responsibilities. We believe that social responsibility is not just a corporate obligation that has to be carried out…it is one’s ‘dharma’. Therefore, whatever we do for the community is a reflection of our spiritual conscience, which shows us the way to discharge our responsibilities towards the various sections of the society. Chola will continue to carry out activities for the benefit of communities around our areas of operation spread across the country,” adds Alagappan.

Truck drivers, cleaners or mechanics whose children are suffering from Congenital Heart Disease may approach Sri Sathya Sai Sanjeevani Hospitals to avail of the free treatment. For more details, please visit www.cholamandalam.com

Also Read: HEALTH INSURANCE POLICY : WHAT IS THE NEED?

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A Health insurance policy covers the individual/family for medical/hospitalization expenses or cost incurred for surgeries. It typically pays for medical, surgical, prescription drugs and, sometimes- dental expenses too. The insured/policyholder selects the kind and level of coverage, which is commonly known as Sum Insured by paying requisite premium. In case of hospitalization, the individual gets the reimbursement for such covered expenses.

What is Health Insurance Policy?

In the current COVID-19 times and with the rising costs of medical treatment year on year, health insurance has become the need of the hour for an individual. Considering the sedentary lifestyle and environment pollution around us due to which the risk of an ailment is high, it becomes vital for any individual to opt for it. Additionally, arranging for funds at the eleventh hour can be herculean task.

Eventually, when an individual contemplates on buying Health Insurance he/she has many doubts and misconceptions/myths in mind around it and we endeavour to clarify them as below:

I am young I do not need health insurance?

If the pandemic has proven one thing, it is that age has no correlation with good health, with even relatively young people falling prey to the disease. The susceptibility to ill health is compounded due to today’s hectic lifestyle. It has been proven by medical research that younger population is at increased risk of falling ill. People attribute health insurance to illness, whereas apart from covering the financial burden of treatment due to illness, it also covers for regular health check-ups that encourages healthy lifestyle.

Buying health insurance at an early age comes with affordable premium due to low risk of illness and by the time age catches up and chances of illness are higher, the health insurance covers everything considering that there is a waiting period (generally of 1/2/4 years) for cover for few diseases. Also,when you start early there is generally an inbuilt feature of adding the coverage amount for each claim-free year which is commonly known as Cumulative Bonus, which can be as high as 100% of the original Sum insured.

I am covered by my employer provided health insurance policy

While some of the organisations tend to offer good health insurance cover for their employees, there is always a limitation in terms of cost that the employer would spend. Also, the policy may sometimes just cover the individual and not the family.

Generally, the sum insured in the group health insurance is limited and is available only until the point one is an employee. The cover ends when you leave the organisation.

It is important to note that once you contract an illness, it is covered in the group health (as it has coverage for pre-existing illness from day one). Once you exit the organization, it is difficult to get a cover and, if at all, there shall be a waiting period for up to 4 years for covering a pre-existing illness.

Also read: DEMAND FOR HEALTH INSURANCE POLICIES HAVE INCREASED

No need to declare all pre-existing ailments

It is wrong to assume that pre-existing ailments should not be declared at the time of obtaining the health insurance. Incorrect information that can be correlated at the time of claim can lead to rejection of claims based on misrepresentation.

There are provisions in the health insurance where the pre existing ailments get covered generally after four years and, hence, once should declare all the information accurately.

The cheapest cover should be bought

The current COVID-19 crisis has been an eye-opener for many individuals.  A low-cost cover will save money at the moment, however, one should do a thorough feature wise comparison of health insurance products and then decide on what one needs vs what is available in a certain price range.

There are cover restrictions or lower coverage as a trade off for low cost of premium for health insurance. Cheap cover may cover the obvious expenses,but one should look at additional benefits for comprehensive coverage at certain additional cost.

To keep yourself against the medical emergencies, it is advised to opt for health insurance for the complete family. This is to make sure that every individual is covered and enjoys equal benefits. One can look online or seek advice from financial advisors to know more about the health insurance policies available in order to make an informed decision. It is highly recommended to be aware of all the nuances related to health insurance and opt for one in order to lead a healthy and happy life.

Pankaj Arora, MD and CEO
Raheja QBE General Insurance

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