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Did You Know That Ayurveda Is Also Covered Under Some Health Insurance Policies?

Aug 28, 2018 | 2 years ago | Read Time: 3 minutes | By iKnowledge Team

Ayurveda, among others, has been India’s own healthcare type for many decades now. Unlike many other static products in the insurance market, health insurance is evolving. A typical health insurance covers hospitalization expenses incurred during the treatment procedure. However, health insurers have acknowledged the necessity of traditional and alternative medicine like Ayurveda, homeopathy, Unani etc. and included them in health insurance plans for the family.

What is Ayurveda?

Ayurveda is a 5,000-year-old system of natural healing that has its origins in the Vedic culture of India. Although suppressed during years of foreign occupation, Ayurveda has been enjoying a major resurgence in both its native land, India, and throughout the world. Tibetan medicine and Traditional Chinese Medicine both have their roots in Ayurveda. Early Greek medicine also embraced many concepts originally described in the classical Ayurvedic medical texts dating back several thousands of years. 

More than a mere system of treating illness, Ayurveda is a science of life (Ayur = life, Veda = science or knowledge). It offers a body of wisdom designed to help people stay vital while realizing their full human potential. Providing guidelines on ideal daily and seasonal routines, diet, behaviour and the proper use of our senses, Ayurveda reminds us that health is the balanced and dynamic integration between our environment, body, mind, and spirit.

Where does health insurance come in?

In India, some people prefer Ayurvedic medicines which are based on plant-based medicine. Since Ayurvedic treatments have their foundation in natural treatments, it becomes alluring to some users. Ayurvedic, homeopathy treatments were sometimes covered by a few health insurers under group health insurance scheme but were unavailable for individual customers. This type of coverage is now changing.

By including traditional medicines in individual plans, health insurers are covering a niche segment. One must be hospitalized for more than 24 hrs in a recognized hospital to claim for the treatment taken. Ayurveda is increasingly being covered by more health insurance companies under plans for one’s parents as well as family, but the same is not true for other traditional medicines like naturopathy, Unani etc. Naturopathy is not yet, covered under any health insurance policy.

Standalone traditional medicine cover is not available presently but only available with standard health insurance policies.

But there is limited coverage:

The coverage of alternative medicines is dependent on the insurer. Some health insurers cover only Ayurvedic treatments while some cover all forms of alternative medicines. There is also a cap on the amount covered which usually ranges from 7.5% to 25% of Sum Assured.

Ayurveda has many treatments which are for the rejuvenation of the body and are not covered by the health insurer. The Ayurvedic treatments covered by health insurers are dependent on the health insurer.

Premium cost for Ayurveda treatment coverage

It is important to understand that insurers often charge a higher premium for plans that cover such treatments. The cost is significantly greater than a regular health insurance plan. Hence, opt for such a healthcare policy only if you are a staunch believer in the power of these treatments. Purchasing a plan with higher premiums and not availing the alternative treatment in case you need one will be a waste of your money.

Many individuals these days believe that alternate medicine is the basis of the healthcare system. It places great emphasis on prevention of illnesses and is becoming a very popular approach in the western world as well. If you are a firm believer of the benefits of alternate treatments like Ayurveda, ensure your policy covers the same. Crosscheck the treatments covered before going ahead and purchasing your healthcare plan. Further, you may also avail such treatments for your family members through family health insurance policies.

While unconventional modes are gaining value, it is always safer to have a backup option from a reputed life insurer such as Aegon Life’s iTerm Plus plan which gives you a maximum coverage of up to 80 years. It has four types of plans within it, in which, ‘life & health plus’ and ‘life and health’ are designed to meet your financial and medical specifications.

It is always advisable to carefully study what an insurance plan includes and analyse how it matches your family’s health profile, before going ahead and purchasing a plan.

Advt. no.: II/Jul 2018/4277

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