Ways How Organ Donor and Recipient Can Earn Benefits from Life Insurance

Oct 10, 2018 | 1 year ago | Read Time: 3 minutes | By iKnowledge Team

While availing health insurance, make sure that the product is well understood. With regard to surgeries involving organ donation, the terms must be cleared as the donor is not covered In most cases.

Organ Donor and Recipient Can Earn Benefits from Life Insurance

With growing awareness about health-saving organ transplant in India, there is an increasing importance of health insurance. However, when it comes to life insurance coverage extended to surgeries, people do not possess sufficient knowledge. More and more people need to be educated about health insurance (i.e. health insurance falls under life insurance) coverage to understand the added benefits that come with it. Many insurance providers cover organ transplant surgeries as a part of their usual policies. Not just that, they also cover organ donor’s expenses. While some choose to place caps on this expense or offer it as an add-on, others simply reimburse the entire cost.

As per the report from one of the leading life insurance aggregators in India, a kidney transplant costs between Rs. 4-8 lakhs whereas a liver transplant can cost somewhere between 24-28 lakhs. Having health insurance ensures that you can undergo a life-saving surgery without worrying about your finances. However, before you choose the right plan, it is essential to make sure that you understand all the nitty-gritty to make the most out of your cover. Firstly, start by understanding the following points:

Scope of Coverage

Any organ transplant involves two people – an insured who receives the part and the donor who donates an organ. Surgeries are conducted at both the end. Under such circumstance, some expenses must be considered. These include – surgical, medical, pre- and post-hospitalisation charges. A person buying the policy must ensure that all these expenses are covered under it.

For instance, expenses incurred by the organ donor for surgery and storage of organ may or may not be covered, and thus you need to know all the details about these charges. The reason why you need to do that is because in the first case mentioned above, the treatment expenses of the former will be duly paid as per the sum insured, however, the cover of donor expenses in case of harvesting, is not covered in most cases. Many insurance companies provide “Organ Donor” cover which includes the donor’s hospitalisation expenses to a specified limit.

Reconsider the exclusions

In many cases, the insured recipient must bear the hospitalisation expenses of the donor as it is not covered under an individual health insurance policy. In such a scenario, it becomes really difficult for the insured to bear expenses comprising of admissible and inadmissible expenses.

For instance, the donor might not be covered under your existing health insurance plan. In such a scenario, you will be required to reconsider the exclusions and scrutinize the same. In most cases, screening of the donor, post-surgical complications and donor’s pre-hospitalization charges are often left uncovered.

Clarification from the medical institution

You must seek a detailed break-up from the hospitals with regard to the donor and recipient expenses. Demanding a further break-up on screening, medical and surgical expenses on the donor’s end will help you understand the financial details better.

Talking about life insurance, Aegon Life offers iTerm Plus insurance plan which comes with various benefits. In total, there are four plan options that you can consider:

Life: A plan which provides death & accidental death benefit.

Life Plus: A plan which provides death benefits along with terminal illness benefits, premium waiver on disability by accident and accident by death benefit.

Life & Health: Death Benefit and terminal illness benefit + critical illness benefits which covers 10 major illnesses.

Life & Health Plus: Death Benefit, terminal illness benefit + critical illness benefits which covers up to 36 critical illnesses.

The plans mentioned above offer several additional covers when you compare them with traditional health insurance plans and can prove to be a boon in the time of your dire need.

II/Oct 2018/4455

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