Health Insurance 811 views January 18, 2021

Health insurance gives us financial cover against hospitalization expenses resulting from medical treatment. But falling sick regularly and making health insurance claims subsequently could wipe out the entire sum insured amount too over time. The sum insured is the total amount you could get to deal with a medical emergency. So will you be denied a health cover in case you meet with a health emergency and have already exhausted the sum insured? Maybe not if you have a restoration facility added to your health insurance policy. It’s a facility by which you can recover the sum insured you may have exhausted by claiming it earlier. But this restoration benefit is not as straightforward as it may seem! There are many delicacies associated with the ‘Sum Insured Restoration Facility’ that you should know to maximize. In this post, we will discuss the same. Let’s begin!

Health Insurance

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How Does the Sum Insured Restoration Facility Work in a Health Insurance Policy?

The modus operandi of the restoration facility depends on the type of offer itself. While some health insurance companies allow you to restore only after you exhaust the entire sum insured including the no claim bonus amount, others can provide this facility even if you have utilized the sum insured partially. Besides, the restoration benefit applies to different illnesses and is available only for one policy year. It means the restoration won’t get carried from one year to another, much unlike the no claim bonus where the sum insured rises on renewal by not claiming in a year.

Note – The general working of Restoration Benefit is explained above. However, health insurance companies can make changes to it.

When Will Restoration Benefit Help You the Most?

Health insurance plans come in both individual and family floater basis. As the name suggests, individual plans will cover the particular individual only and not their dependents. This is where a family floater plan can come in handy by covering both. And with more members in the policy, the chances of exhausting the sum insured are greater. So with a restoration facility, you won’t face the last-minute hassle of arranging money should any medical emergency arise and you don’t have any sum insured left with you.

Will the Restoration Benefit Increase Your Premium Amount?

The restoration benefit of health insurance policies acts much like an add-on, so the premium amount goes up accordingly. But you could still manage that amount pretty well as affordability varies from one individual to another. So, read policies regarding the premium amount with a restoration facility before zeroing on the right deal.

Let’s Check the Restoration Benefit of Popular Health Insurance Policies

It’s only better if we know the working of restoration benefits across different health insurance policies. With that, you could figure out the best policy in terms of this benefit. So, without waiting any further, let’s check out!

Health Insurance PoliciesApplication of Restoration Benefits
Niva Bupa ReassureUnlimited reinstatements for same and different illness in a policy year
Niva Bupa CompanionUpon exhaustion of the base sum insured, refill upto 100% of that for a different illness
HDFC Ergo Health Optima RestoreRecover 100% of your cover amount after the first claim. It’s available on both partial and complete utilization of the sum insured
Aditya Birla Activ Health Platinum EnhancedIf the sum insured along with the cumulative bonus is not sufficient due to past claims in that policy year, you will get an additional sum insured
Star Family Health OptimaGet the sum insured restored automatically for as many as 3 times. Restoration upto 100% upon complete exhaustion

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