World Heart Day 2023 | Health insurance checklist for cardiac patients

World Heart Day, celebrated on September 29, serves as a global platform to raise awareness about cardiovascular health, promote heart-healthy habits, and highlight significant developments in the healthcare and medical sectors. Amid the ongoing challenges posed by heart-related diseases, it’s crucial to shed light on a topic that often takes a back seat until it’s too late — insurance for heart patients.

By combining preventive measures with the right insurance coverage, we can achieve a heart-healthy future for everyone.

The statistics

According to a study by the Indian Council of Medical Research and Registrar General of India, India accounts for approximately 60 percent of the world’s heart disease burden. Heart-related conditions are on the rise, and so are the associated costs.

Importance of insurance

These heart-specific insurance policies are tailored to cover a range of heart-related services, including tests, surgeries, and post-operative care. They are designed to address heart conditions and extend coverage to severe heart illnesses, providing financial support in the event of a critical diagnosis.

Key features of insurance for heart diseases

Cardiac health insurance plans come with several key features and benefits like compensation for cardiac treatment costs and other related expenses, including hospitalisation expenses. In case of cardiovascular illness diagnosis, a lump sum is paid by the insurer.

Depending on the policy, overseas treatment may be covered. It may also also cover compensation for the loss of income due to illness. These benefits, however, are subject to certain terms and conditions, according to PolicyBazaar, an insurance aggregator.

What’s covered and what’s not

Under cardiac health insurance plans, policyholders receive a lump sum amount from the insurer. Coverage benefits include in-hospitalisation expenses (ICU charges, reimbursed by the insurance provider), pre- and post-hospitalisation expenses, coverage for home-care treatment if suggested by a doctor, treatment for the first heart attack and coverage for heart failure.

Some policies may even give annual health checkup benefits and coverage for alternative medical treatments such as Ayush treatment, homeopathy, Unani, Siddha, and Ayurveda treatments.

How much insurance should one buy for heart diseases?

Vivek Chaturvedi, CMO and Head of Direct Sales at Go Digit General Insurance said, “Taking into account the rising medical inflation, one should consider getting a coverage of at least Rs 10 lakh for a single person and a cover of Rs 20-30 lakh for a family. Multiple hospitalisations within the year are sometimes seen during heart-related ailments. To ensure one does not exhaust the sum insured opted, check whether the insurance plan you are opting for offers restoration benefits.”

The restoration benefit helps the sum insured of the health insurance policy to be restored up to the maximum limit as soon as it gets exhausted after a claim. This benefit is offered under health insurance plans available for individuals as well as families.

“So, it’s important for people with heart issues to investigate their choices and find the right insurance plan that fits their requirements,” Chaturvedi told CNBC-TV18.com.

A look at insurance plans for heart patients

(Source: Policybazaar)