Medical insurance is one of the priorities that all individuals should take in order to protect not only themselves but those near and dear to them. Medical insurance provides a safety plan for individuals to help them and their family members financially during times of emergency.
There are a number of medical insurances that are provided by insurance companies in India. There are specific medical insurances that are meant for specific diseases, there re medical insurances that are only for the insurer and there are also medical insurances that are meant to cover the entire family as a whole.
Mediclaim Policy
In India, there are a number of medical policies that are given by different insurance companies. A Mediclaim policy is quite different from the other insurance companies that exist in India. The Mediclaim policy has a hospitalization benefit which is offered to individual companies and private sector companies as well.
The Mediclaim policy takes care of the pre-hospitalization expenses, hospitalization expenses and even the post-hospitalization expenses on any individual who is insured under this specific policy. The Mediclaim policy has a number of other features that sets it apart form other medical insurance policies. Some of them are:
- The Mediclaim policy reimburses an individual the entire amount that they have paid for the medical policy. No amount of money is taken by the company or is deducted in the form of tax.
- Critical Illness is also covered under this policy which is generally not included in normal medical insurances. Critical illnesses are also included in the policy due to the hospitalization and accident treatment of this policy.
- Usually, the Mediclaim policy is taken by those individuals who want to lower the expenses of their hospital bill. It is an advantageous policy for many.
What to Keep in Mind Before Buying a Mediclaim Insurance
Mediclaim allows an individual as well as a family floater to take the medical insurance. In case of an individual policy, the amount for the policy is dependent on the individual and the insured can renew the policy throughout his/her lifetime. However, in the case of a family insurance, once the main insurer passes away then the policy does not get handed over to the other family members. In short, the policy expires. According to the National insurance, Mediclaim renewal is also not possible in this case.
Medical insurances are meant to life throughout the lifetime of an individual and a Mediclaim policy covers the insurer throughout his/her lifetime. The policy takes care of all the medical needs of an individual. At the time that the insurance holder wants to end the policy, the entire amount is refunded to him/her.
Other medical insurance plans ask the insurer to renew the policy that they have for a couple of years before they can cover any pre-existing diseases that the insurance holder has. However, in a Mediclaim insurance policy, the plan covers the cost for pre-existing diseases as soon as possible.
National Insurance Mediclaim Renewal
Any insurance policy, be it medical insurance, health insurance or any other type of insurance lasts only till the insured pays the annual or monthly premium for the insurance. Therefore, it is always necessary to make sure that the insured pays the premium of the insurance well before time of the expiry of the insurance.
The national insurance Mediclaim renewal is necessary for those who want to continue getting the benefits from the insurance policy. Since the Mediclaim insurance is the only insurance that takes care of the hospital expenses of the insured and also covers pre-existing diseases, it is necessary for the insurance to sustain over a long period of time.
Through whichever insurance company, the individual is buying the Mediclaim insurance they get notifications as to when their insurance is about to expire. Hence, the national insurance Mediclaim renewal should be made a priority as soon as the insurance is on the verge of expiring.
Claiming a Mediclaim Insurance
The best part about being insured from a Mediclaim insurance is that one can claim their Mediclaim insurance within a period of a month. That is to say that the waiting period for claiming one’s Mediclaim insurance is only a month.
In India, there are two ways in which an individual can claim their Mediclaim insurance - through reimbursements or through cashless claims. Individuals who are insured go for the reimbursement method of claiming their insurance when they re already hospitalized. In this case, the insurance policy pays for the hospital expenses on behalf of the individual.
In the case of a cashless claim from a Mediclaim policy, a form will be given to the individual from the company which needs to be filled in by the insurance holder and then sent back to the insurance company. Once the form is verified and the necessary details covered, the cashless claim is processed.
Exemption from Mediclaim Insurance
Other medical insurances have a list of things that are exempted from their medical insurances. Some of the items that are on the list can be covered after a wait period for a couple of years. However, in the Mediclaim policy there is only one exemption in the policy.
A Mediclaim policy is terminated only when the insured is unable to earn after releasing from the hospital. If the individual cannot earn any money or get a job after hospitalization, then he or she cannot pay the annual premium for the Mediclaim policy. This is the reason why the policy terminates.
Also Visit: PolicyBazaar Reviews
No comments:
Post a Comment