Every other insurance policy in the market seems to have the same kind of features. In some cases, even the premium is almost the same. In this case, choosing a policy becomes very difficult. There are also too many policies in the market. There are over 40 insurance companies in India including those who offer life insurance and health insurance. Everyone has two or three plans in every category. So, how do insurance companies differentiate their products from that of others? That’s why they have come up with value-added services.
These services are offered for all kinds of insurance – health insurance, car insurance, travel insurance, you name it and there are value-added services offered for these. Here are examples of some of the value-added services offered.
Fullerton India offers a discount card to their customers in association with the Indian Health Organisation. Using the card, customers can save on medical expenses. Benefits include free unlimited teleconsultations with Swiss trained doctors, free medical services depending on the package such as free pharmacies, complete health check-ups and diet fit packages. You can also avail 20%-50% discounts on radiology and pathology tests, medicines and dental treatments.
Similarly, Bajaj Allianz Health Insurance gives out-patient discounts at select outlets for its health insurance customers. Policyholders can also avail discounts on wellness tests at select outlets. You also get discounts on medicines at pharmacies such as Religare Wellness stores. For example, at some of the Religare wellness centres, you get a 12% discount on medicines and 12% discount on surgical items.
ICICI Lombard’s health insurance offers value-added services such as free health check-up, online chat with doctors, specialist e-consultation, consultation on physiotherapy, speech and audiology.
If you get a home insurance from Reliance General Insurance, you can avail a number of value-added services such as getting your home repaired or painted. The insurance company has partnered with a number of professionals such as plumbers, electricians and concierge services.
Bajaj Allianz also provides value-added services for its car insurance customers. If your car meets with an accident or breaks down beyond 100 km from your city, Bajaj Allianz will provide hotel accommodation for the occupants of your car for a maximum of two days and two nights. This will be limited to Rs 2000 per person per day. A maximum of Rs 16,000 can be availed during the policy period.
If you buy ICICI Lombard travel insurance, your dependents in India can enjoy medical concierge services while you are abroad. It will also help set up appointments with local doctors and home nursing services for the elderly. The insurance company will ensure that you receive all health information. The insurance company also provides car assistance services in case your dependent’s car breaks down. They can also avail home services such as electrical and plumbing services.
When choosing an insurance policy, it is more important to look at the premium, features, amount of coverage and reimbursements offered rather than looking at value-added services. It is better to read reviews online and speak to other customers before you buy an insurance policy.