Mediclaim Policy: The Life Saver
As there is a saying, an apple a day keeps the doctor away
. However, with the rising cost of apple it is not possible to test the practicality of this saying. If you calculate the number of visits to a doctor along with the unexpected tests and medicines apart for the hospitalization expense, it will bring some unwanted tension to your life.
Mediclaim policy provides the coverage for the hospitalization expense which one incurs while being admitted to the hospital. The cost of the surgery, consultation, medicines, diagnostic tests and pre hospitalization and post hospitalization charges are also covered.
Top 5 factors to keep in mind while purchasing a Mediclaim policy:
1)Adequate coverage amount: The amount covered by the insurance company should be sufficient enough to cover the family members with the rise in metros.
2)If the plan is reimbursement or cash allowance:- While in reimbursement, the claims is reimbursed in the later stage, under the cash allowance a fixed amount is given on daily basis however expensive the treatment is.
3)Copay with limits: - In this, if insurer chooses to take the expensive treatment with luxury rooms, then a co-pay amount is to be paid.
4)Cashless facility: This facility reduces the burden of the insured to run around and arrange for cash before getting admitted. However you need to check for this in Terms and condition as there have been some changes in the govt. policies.
5)Also you need to check for the premium amounts when you get old. In that age it should not be difficult for you to get the insurance benefits.
Who is eligible for this policy?
Anybody between the ages of 18 years to 60 years can be insured. However children below the age of 18 years can be insured with the parents. A person can remain insured even after 60 years if he has always been with company without any break.
Policy Coverage:
Generally the policy covers the hospitalization for more that 24 hrs and also the 30 days pre hospitalization and 60 days of post hospitalization coverage. It includes the day care treatment, ambulance charges, surgery and consultation along with the diagnostic tests.
Insurance Providers
Few of the big names are TATA AIG Insurance Company, Bajaj Allianz General Insurance Company, and ICICI Lombard Insurance Company. These companies offer affordable Mediclaim policies with the tax gains. And now these policies and their Terms and Conditions can be seen online on policybazaar.com. The internet in one way has revolutionized the medical sector and has made it easier for the consumer to compare and choose the
Medical Insurance policies.
The other benefit of buying online is that it saves a lot of your time. You are not required to visit the various insurance companies. Visiting policybazaar.com insures the security of transactions without any headache of paperwork. The payments can be made via various security gateways. And the hard copy of the policy will reach within 2-3 days. Also the payments can be converted into interest fee EMIS with the help of credit cards.
There are various policies which provide various tax saving plans also. Family Floater plans, Health Advantage Plus, Health Guard and Hospital Cash are some of the health insurance schemes available in India. The tax reform under 80D includes all these plans.
There today, we should not invest not only in expensive apples, but should also look for some good mediclaim policy on
policybazaar.
by: Addy Smith
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