World Heart Day: Health insurers now offering cover for pre-existing heart conditions from Day 1

Health insurance policies with coverage for heart related illnesses

Heart ailments are on the rise in India and their treatment can impose a significant financial burden on patients and their families. Surgeries such as angioplasty and bypass often cost several lakh of  rupees and the expenses only multiply with hospitalisations and post-operative care.

Health insurance plays a critical role in safeguarding the finances of heart patients. Over the years, the health insurance sector has evolved considerably to support those with heart ailments.

"Earlier, people with a history of heart problems had limited health insurance options, often just two or three plans, and these came with high co-payments of 20% or more. The landscape today is changing for the better, offering more options and better coverage tailored for heart patients," said Siddharth Singhal, Head of Health Insurance at Policybazaar.

The World Heart Day, which is observed on September 29, is a good time to see what is on offer and what works the best.

New age policies with heart illness coverage 

Now there are new-age health insurance plans that cater specifically to customers who have pre-existing heart conditions or have undergone major heart surgeries in the last seven years. These policies generally cover heart ailments with a waiting period of two-three years.

But those who want coverage immediately can avail the increasingly popular Day-1 cover rider, which provides coverage starting from the day of policy inception after a waiting period of just 30 days. Typically, opting for Day-1 cover means a premium increase of 15-20 percent but the benefits are worth it. There are also plans that reduce waiting period of pre-exisiting diseases to one year on paying extra premium.

"Day-1 cover riders are a game-changer as they provide comprehensive protection for hospitalisation, surgeries, post-operative care, and complications arising from pre-existing heart conditions," Singhal said. "While these plans might cost a bit more, they address the financial risks that heart patients face effectively."

Here are some typical premiums (excluding GST) for a 45-year-old non-smoker living in Delhi opting for a Rs 10 lakh sum insured under various heart-friendly plans:

Choosing the right plan requires careful consideration of premium costs versus coverage benefits, especially for those with heart conditions.

Singhal said, "Heart patients should evaluate plans that not only cover their current health needs but also protect them from future complications. Opting for a plan with Day-1 cover might increase monthly premiums but can save thousands in emergency treatment costs."

With increasing awareness and better underwriting norms, several insurers have started offering plans on more flexible terms to customers with a heart history. This increased competition is beneficial, as patients now have a wider array of affordable and comprehensive options.

Health insurance has become indispensable for managing the financial risks associated with heart diseases. The evolving insurance products can make heart care manageable, ensuring that patients get the treatment they need without the added worry of overwhelming medical bills.