Advantages of Buying Mediclaim Insurance

Medical emergencies are usually unforeseen situations that sweep away large amounts of money. Medical health Insurance is the solution for this. You get emergency medical coverage with a Mediclaim policy against the heavy treatment costs. Here, let’s know more about Mediclaim insurance and its benefits. 

What is Mediclaim Health Insurance?

Mediclaim health insurance is a type of health insurance plan where the plan holder gets coverage for medical expenditures incurred due to hospitalization. The insurance plan covers various expenses such as inpatient hospitalization, Surgeries, Consultation charges, Diagnostic tests, pre- and post-hospitalization charges, and daycare procedures. 

You get the cashless treatment at the hospitals listed in the insurance network, and you get reimbursed if you get admitted to a non-network hospital. Mediclaim is different from comprehensive health insurance as it focuses more on hospitalization and treatment costs. The insurance is available for individuals or the whole family. 

Advantages of Mediclaim Insurance

The major advantages of the Mediclaim Policy are: 

1. Financial Protection in Medical Emergencies 

The policy gives you protection against any medical emergency. It covers your hospitalization, ICU, surgeries, ambulance, etc. 

2. Cashless Hospitalisation 

Most mediclaim policies provide cashless treatments where you are not required to pay anything to the hospital, and the insurance company directly pays the bill. 

3. Reimbursement 

If you get admitted to a non-network hospital, you will get reimbursement for your hospital bill. 

4. Tax Benefits 

The premium is eligible for tax deductions under section 80D of the Income Tax Act. You can claim up to Rs. 25,000 for yourself, your children, and your spouse, and Rs. 50,000 for senior citizens. 

5. No claim Bonus 

If you don’t make any claim during the policy tenure, the insurer offers you an increased sum insured for the next year at the same premium amount. 

Best Health Insurance Company in India

There are various health insurance companies in India providing Mediclaim insurance policies. Let’s know the top companies: 

Types of Mediclaim Insurance Policies 

There are various types of Mediclaim Policies available as mentioned below:

1. Individual Mediclaim Policy 

It covers the individuals for whom the policy is purchased. The sum insured can be claimed for the medical emergency of the policyholder only. 

2. Family Floater Mediclaim Policy 

The family floater plans offer coverage to the whole family under 1 policy. Anyone listed in the plan can claim the insurance during a medical emergency. 

3. Group Mediclaim Policy 

Group mediclaim is provided by the employers to the staff. The whole group of staff is covered under a single policy. 

4. Senior Citizen Mediclaim Policy 

This type of mediclaim policy is tailored for people above 60 years of age. If there is any senior citizen in your family, you can buy this plan for them. 

5. Top-up Mediclaim Plans 

The top-up mediclaim plans offer additional coverage beyond a certain limit. It is best for people who wish to enhance their existing coverage. 

| Read more: Health Insurance Tax Benefits Under Section 80D

Conclusion

The Mediclaim insurance policy is the best option for people who wish to secure themselves and their families against a financial crisis during any medical emergency. The policy provides cashless treatment. You get pre- and post-hospitalization expenses, doctor consultation charges, ambulance charges, et, covered under the plan.