Summer is here and the mercury levels are rising with every passing day. Hyderabad has recorded the highest temperature of 44.2° C in May,2024 and it is further expected to increase in this May. One can find the streets and roads deserted in the afternoon when the intensity of the sun is at its peak. Weather department has also issued red alerts and orange alerts for a few cities and cautioned people from venturing out in this extreme weather.
As far as possible one should not go out this summer but working people are compelled to go out for various reasons. When you venture out in heat, you may fall sick due to heat related issues and it is important to take proper care to counter these issues.
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Explore 3 Must-have Summer Insurance Plans to Protect Against Extreme Heat Conditions.
Health Insurance
The first thing you should have to beat this summer heat is a health insurance policy. The main reason for hospitalization in summer is Sunstroke or Hyperthermia and it could turn deadly if you are not treated on time. Severe heat could also cause dizziness, nausea and dry or damp skin that could lead to dermatological issues. A health insurance policy could save you from financial distress by providing cashless claim settlement in case of hyperthermia related conditions.
The other advantage is that hyperthermia is not a pre-existing condition and there is no waiting period for it to get covered under the policy. If you are a company with a majority of your employees working out of office such as sales, then you should definitely cover them in a health insurance plan so that they can claim insurance benefits in case of hospitalization due to hyperthermia.
The sum insured in a health insurance plan should be decided by keeping in mind various factors such as the number of members in the policy, age of the members, health condition of the members and increasing health inflation. One may opt for basic sum insured in a regular policy and high sum insured in a top-up policy. It is advantageous to have a basic policy and a top-up policy so that the normal situations would be taken care of by the basic policy and the adverse situations would be taken care of by the top-up policy.
Talk to us for the best health insurance plans to beat the heat this summer.
Life Insurance
The other insurance plan that you should have is a life insurance plan. As discussed above sunstroke or hyperthermia could lead to death if not treated on time. Sometimes even if treated on time it could lead to death due to various reasons. In case of your sudden demise your family should not be left to fend for themselves and for this you should take a life insurance policy. A term life insurance policy is the best life insurance plan among other life insurance plans as it covers only death benefit for a specific period of time and is also affordable when compared with other insurance plans.
A term life insurance coverage should be decided based on your annual income in addition to your outstanding liabilities. Usually the sum assured should be at least 20-30 times your annual income and in any case twice your outstanding liabilities. Talk to us for the best term life insurance plans to beat the heat this summer.
Personal Accident Insurance
One of the most ignored insurance plans is the personal accident plan or disability insurance plan. Disability is a condition where one would lose their ability to perform like normal human beings. As per the statistics, on an average each year, around 150,000 people die in a road accident but around 750,000 people are disabled in those road accidents. If we see the statistics, there is a 6x more chance of getting injured than dying in a road accident.
Research has found that the number of road accidents would increase in the summer season. There are few reasons for this- one is with holidays for schools most students and parents would be on roads, the other is marriages and other occasions would be more in summer and everyone would be free to attend. Therefore, it is very important to have a personal accident policy either at an individual level or at group level to safeguard yourself from financial distress. Talk to us for the best personal accident insurance plans to beat the heat this summer.
FAQs:
Can I avail cashless for hyperthermia?
Yes. You can avail cashless claim settlement for Hyperthermia irrespective of inpatient or outpatient hospitalization. The basis of admission (inpatient or outpatient) would be decided by the treating doctor and the hospital and not by the insured policyholder.
Is Hyperthermia a pre-existing condition?
No. Sunstroke or Hyperthermia is not a pre-existing condition. Even if you have suffered from a sunstroke before taking the health insurance policy it would not be considered as a pre-existing condition.
What is the waiting period for hyperthermia in a health insurance plan?
There is no waiting period for hyperthermia in a health insurance plan except for the initial or 30 days waiting period. Only accidents related to hospitalization are covered from day 1 in a health insurance policy.
Will the health insurance premium increase on renewal?
Health insurance premiums would normally increase in the following situations.
If the age of the policyholder increases.
If there are claims in the previous policy periods. The increase in premium depends on the number of claims as well as the quantum of payouts.
If the claim ratio of the insurance company has increased.
General increase as an industry practice every few years.How to decide the sum insured in a personal accident policy ?
The sum insured in a personal accident policy could be decided based on your annual income. The sum insured should at least be 20-30 times your annual income.
