What are the top benefits of Mediclaim Policy?

What are the top benefits of Mediclaim Policy?
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Insurance India

Mediclaim policy is a type of medical insurance that repays the costs you acquire in case of hospitalization or domiciliary consideration. It can either repay your costs when you submit significant bills or empower you to have a completely cashless hospitalization wherein your medical insurance will directly manage the hospitals– giving you a chance to focus on the treatment and recuperating.

Consistently increasing expenses of medical insurance and lifestyle ailments has made it fundamental for people to have medical insurance in India. Mediclaim policy approach basically adopts the medical insurance arrangement that offers a cover for health equating to the entire sum which is guaranteed on account of an ailment or mishap that requires hospitalization. Mediclaim policy in India is issued keeping in mind the recent day and age that we live in. The strategy had to be reestablished if you need a medical insurance with maximum benefits. Here are some of the top benefits of choosing a mediclaim policy:


Premiums payable on Mediclaim policies vary between guarantors. However, they depend on specific criteria like the age of the proposer, geography of the treatment, the entire sum guaranteed, the term of the plan, so on and so forth.

Flexibility with age

People who can opt for a mediclaim policy can have a varied age group ranging from five years of age to eighty years of age.


The benefit of a family cover

You can give a Mediclaim policy cover to your whole family with the installment of one single premium. This way you can track all the costs for your medical insurance and keep them under one umbrella. This may likewise also make you qualified for limits on your premium, depending upon the provider of your mediclaim policy.

International medical insurance

An expansive number of insurance companies offer Mediclaim policies that not only cover you in India but also abroad, subject to certain specific conditions.

Management of claims

The handling of claims is directed to a great extent through Third Party Administrators (TPAs) nowadays, however, a couple of mediclaim policy and medical insurance providers manage these cases in-house.

Category of medical insurance policies

Mediclaim policies are accessible in many different categories, depending upon the need and the requirements of those who need to be insured. You can get singular arrangements, group medical insurances, senior citizen policies, basic ailment arrangements, and even the uncommon maternity mediclaim policies.

Take advantage of tax rebates

Mediclaim policies are eligible for tax rebates under Section 80D and are accessible up to Rs.25,000 on medical insurance for yourself, life partner and your children and additionally Rs. 25,000 for your parents too. The sum goes up to Rs. 50,000 in case parents are also covered. If they are senior citizens the total benefit reaches to Rs.75,000/-

How is a Mediclaim policy different from medical insurance?

Insurance agencies generally offer medical coverage products under two general classes:

●       First is indemnity policies

●       Second is benefit policies

Benefit policies are mainly for regular medical coverage products which pay out a pre-decided “sum guaranteed” in the event of any accident, or for finishing any of the sicknesses, ailments, conditions, that are included in the protection list. Conventional protection strategies work along these lines, offering you a money-related benefit in advance and do not really expect you to submit doctor’s facility bills couples with many other benefits.

Indemnity policies on the other hand redress or repay you for the costs incurred amidst your hospitalization or domiciliary consideration, on the accommodation of treatment along the constraining sum made reference to in the strategy. Mediclaim policy is an example of one such item. Despite the fact that the costs are ever increasing, a mediclaim policy empowers you for cashless hospitalization wherein the medical insurance provider pays the healing insurance centre specifically.

The most critical contrast among mediclaim and medical coverage is that mediclaim policy will simply repay your consumption, and not give you an extensive sum money related advantage in case when you rendered ineligible for it.

Types of Mediclaim Policies in India:

●       Individual Mediclaim under which you essentially safeguard yourself against the money related liabilities of hospitalization.

●       Family Floater under which you can give extra cover to your whole family, and be tension free in issues of doctor’s facility charges and related costs.

●       Group Mediclaim policy wherein a business or individual accountable for a group of individuals wishes to add to their compensation, the advantages of cashless hospitalization and/or repayment on hospitalization costs.

●       International Mediclaim is a type of policy wherein all your hospitalization and related costs are dealt with amidst your travel plans outside India.

●       Low-cost Mediclaim is for the underprivileged masses. Businesses of little scale and medium-scale ventures protect their representatives and their dependants for as low as Rs. 1,600 annually.

●       Senior Citizen Mediclaim is a sort of mediclaim which requires testing as well as exceptional arrangements, it’s an immensely progressive step for any insurance provider as they can securely safeguard senior nationals at aggressive premium rates.

●       Basic Illness Mediclaim is used for combatting the costs of the most costly medicines in the field today, which are those that are used for treating basic diseases. Basic Illness Mediclaim insurance generally offer a higher claimable sum, for additional add-ons of medical conditions.

Coverage of best Mediclaim policy- in a nutshell

Mediclaim products offer incredible advantages and inclusion for an extensive variety of costs, depending upon your insurance provider. Mediclaim arrangements generally offer the accompanying advantages and cover:

Doctor’s facility charges

Every immediate charge that you bring about because of hospitalization like OT charges, prescriptions, blood, oxygen, symptomatic material, x-beams, chemotherapy, radiotherapy, pacemakers, benefactor costs amid organ transplants, amongst many others. Some other inclusions are:

●       Day-care treatment

●       Pre and post-hospitalization costs

●       Clinic settlement charges

●       Therapeutic expert’s expenses

●       Examination charges.


All in all, a mediclaim policy comes with a lot of advantages. You just need to pick the right provider and you will get yourself the most beneficial mediclaim policy.

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When & Where

  • From: 2018-12-04   05:30 AM
  • To: 2021-04-08 08:00 AM
  • Location: Online Event

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