‘Necessity is the mother of invention’, and competition is the mother of innovation. With fierce competition in the health insurance industry, companies are resorting to newer and innovative products to appeal to the customers. Insurers seems to have a health insurance solution for every diseases out therewhether it is diabetes, heart related ailments or the disease of the day – dengue. Yes, believe it or not but there is a specialized dengue care plan launched by Apollo Munich which provides for health insurance benefits if one suffers from dengue. But to the common man, the question that commonly arises – with so many health insurance options available, is the dengue care plan really required?
Before I venture my opinion, it is imperative to understand what the plan is and what it has to offer. Apollo Munich launched the dengue plan last year and raised many questions concerning its utility. We are also discussing the same concern but first, the plan features. Simply stated the plan covers all expenses relating to and limited to dengue. The plan comes with two coverage options of Rs.50, 000 and Rs.1 lakh. The premium is fixed at a flat rate of Rs.444 and Rs.578 excluding taxes for both cover variants respectively. It does not depend on the age of the proposer. There are no requirements of pre-screening medical tests and the plan allows Rs.10, 000 worth of outpatient expenses.
So what do you think? The premium and the outpatient expenses favor the plan because the premium is low and a normal health plan might not cover outpatient expenses. But apart from that what does the plan offer additionally?
Your average health insurance plan provides you with every sort of inpatient hospitalization, pre-hospitalization and post-hospitalization. Treatment costs are also covered by your ordinary health plan. The dengue plan only has the added benefit of outpatient expenses and in case of dengue they do not amount to much. It is argued that since most people seek treatment at home, this outpatient expense makes the plan worthwhile. However, if you know that your health insurance plan would provide for your treatment why seek treatment at home. It is better to be hospitalized and let your health plan take care of the expenses rather than getting treatment at home. Even if availing treatment at home, the outpatient expenses would not be that high which justify an add-on plan.
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Another limited condition of the plan is the coverage. The coverage, as stated above, is limited to dengue treatment only and would be ineffective for other medical contingencies. It is for you to decide whether he wants to utilize his money for a dengue cover or opt for an enhanced health insurance coverage which is more versatile in its scope of coverage.
If you are fine with shelling out some extra 500 or 600 bucks, you might want to enhance your existing health coverage. It would cost you approximately the same- Rs.50, 000 or Rs.1 lakh. After all, your ordinary health plan would provide for every contingency and not just one which has a limited probability of occurrence.