Mediclaim policies are a basic form of insurance that provides coverage for health expenses and hospitalisation. In India, various insurance companies offer these policies, and the coverage can vary significantly. Understanding the different policies available in India is essential to choose the one that best suits your needs. This article will discuss the types and benefits of these health insurance policies.
Types of Mediclaim Policies
The two main health policies are individual and family floater policies. An individual policy provides coverage for an individual and pays for medical expenses incurred by the insured person. While a family floater policy provides coverage for the entire family and pays for medical expenses incurred by any family member.
In addition to these two primary types of policies, specialised policies are available in India. These include:
Senior Citizen Policy
As the name implies, this policy is explicitly designed to provide coverage for the elderly members of your family. It usually has higher coverage levels than other health policies and provides additional benefits such as home care and nursing services.
Pre-existing Disease Policy
This policy provides coverage for pre-existing medical conditions and helps cover costs associated with treating such conditions.
Critical Illness Plan
This policy provides coverage for critical illnesses such as cancer, heart attack, stroke and kidney failure. It helps cover the cost of medical treatment for such illnesses and provides financial assistance for other associated expenses.
Accident Policy
This policy provides coverage for medical expenses incurred due to an accident. It also provides coverage for other associated expenses, such as loss of income due to hospitalisation.
Maternity Mediclaim Insurance
This maternity insurance plan covers medical expenses incurred during pregnancy and childbirth. It also provides financial assistance for other associated expenses, such as hospitalisation.
Health Check-up Mediclaim Policy
This mediclaim policy provides coverage for routine health check-ups and other preventive healthcare services.
Choosing the correct type of plan is vital to ensure that you are sufficiently covered in any medical emergency. Make sure to compare the different policies available and select the one that offers the best coverage and benefits.
Benefits of Mediclaim Insurance
Knowing that you are covered in any medical emergency can give you peace of mind. You can be confident that you and your family will be financially taken care of in a medical emergency. Best mediclaim policy provides many other advantages such as:
- Financial Security: These policies provide financial security by covering medical expenses and offering a variety of benefits such as cashless hospitalisation, cashless medicines, pre and post-hospitalisation expenses, and many other services.
- Tax Benefits: They offer tax benefits under Section 80D of the Income Tax Act. It makes it a desirable option for people looking to save on their taxes.
- Coverage for Pre-existing Diseases: Many policies cover pre-existing diseases, which can be very beneficial when providing a financial cushion in any medical emergency.
- Cost Effective: These are generally relatively cost-effective compared to other health insurance policies. They are much cheaper and offer a wide range of benefits.
- Coverage for Critical Illnesses: Many policies offer coverage for critical conditions such as heart attack, cancer, etc. it can be a great help in case of any such emergency.
- Easy Availability: These mediclaim policies are readily available online and can be purchased quickly and conveniently. It makes it a desirable option for people looking for a quick and comfortable way to get health insurance coverage.
A mediclaim policy is important insurance coverage to have. It provides financial assistance in medical emergencies and can be especially helpful in covering costs for treatments, hospitalisation or surgeries. It can also provide coverage for pre-existing illnesses, which is especially important for those with chronic conditions. With an expansive range of plans available, it is essential to compare different policies and select the one that best suits your needs.
