Automatic Restoration in Health Insurance

Health Insurance is turning out to be a significant financial tool to safeguard yourself and your family from medical debt or financial instability due to unforeseen medical emergencies. This is because Health Insurance plays a crucial role by providing the necessary financial help at the needful time. And we are well aware that the Health Insurance Policy will cover the hospitalisation expenses incurred due to accidents, illness or diseases.

Besides the hospitalisation expenses coverage, Health Insurance Plans offer other benefits as well. We are undoubtedly aware of a few other benefits, such as emergency road ambulance, air ambulance, pre and post-hospitalisation, day care procedures or treatments, and so on. Following the list, are you aware of the benefit of Automatic Restoration in Health Insurance?

Automatic Restoration is one of the significant benefits which offers extended cover after the exhaustion of the Sum Insured. In detail, Automatic Restoration in Health Insurance will restore the Sum Insured up to the maximum limit as mentioned in the policy document. For example, if the insured person utilizes the entire Sum Insured during the policy period, it leaves them vulnerable (without Health Insurance coverage) to future hospitalisation or medical expenses in the same policy period, if any.

In such circumstances, Automatic Restoration might be the savior of the day. The restoration benefits will restore the Sum Insured of the insured's Health Insurance policy to the maximum limit after its exhaustion. Thus, entitling the insured to get additional protection. However, the restoration benefit is policy specific, and the premium of such policies may be slightly higher when compared to the policy that doesn't provide the restoration benefit.

Automatic Restoration will do good for both Individual and Floater Health Insurance policies. But this benefit can be a great advantage for the families opting for Family Floater Health Insurance policies. Because under such policies, the Sum Insured is shared by all the family members, thus, the possibility of exhausting the Sum Insured is high if one or more family members are hospitalized at the same time.

Health Insurance firms have categorized the Automatic Restoration benefits under certain norms. Make sure to know them before opting for one.

Complete Exhaustion of the Sum Insured: Under this category, the restoration of the Sum Insured will get activated soon after its complete exhaustion.

Partial Exhaustion of the Sum Insured: Under this category, the Sum Insured will get restored even after its partial exhaustion.

Most Health Insurance policies offer 100% restoration of the Sum Insured under Automatic Restoration. No additional cost is imposed to avail this benefit. The benefit will ensure financial backup, however,it is important to note that the restoration of the Sum Insured will not be carried forward to next year. Only a few Health Insurance plans offer restoration benefits for the same illness or disease. Otherwise, restoration benefits will be activated only for claims unrelated to previous illnesses and diseases.

Medical advancement and the rise in medical inflation have contributed to the rise in hospitalisation expenses. Automatic Restoration will be of great help to tackle more than one hospitalisation expense. To adhere to the current needs, most of Star's Health Insurance policies offer Automatic Restoration benefits at an affordable premium.

A comprehensive Health Insurance policy like Star's Family Health Optima Insurance Plan restores 100% of the Sum Insured three times during the policy year. And, Star Health Assure Insurance Policy restores 100% of the Sum Insured for an unlimited number of times in a policy year for a valid claim. Choose your policy wisely to be well prepared for tomorrow.