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Mediclaim Policy

All you need to know: Mediclaim Insurance Policy

A mediclaim policy is a form of insurance that provides indemnification to the insured during an unexpected medical crisis. The insurance company takes care of the medical expenses arising due to a disease or an accident. It helps the insured to focus on their recovery instead of worrying about the medical bills. The amount of coverage is limited to the sum that the policyholder’s is insured for

Why Choose our Mediclaim Insurance?

Unlike health insurance, a mediclaim policy differs from company to company. Here’s why you should choose our mediclaim policy.

  • We offer indemnity against medical expenses for families on a floating-sum-insured basis.
  • We have different waiting periods for different diseases, so that your urgency is heeded.
  • Anyone from the age of 90 days to 65 years is eligible for coverage under our mediclaim policy.
  • You can choose your policy tenure to be 1 year, 2 years, or 3 years.

Features and Benefits of our Mediclaim Policy

  • Suitable for any individual between the age of 90 days to 65 years
  • The option to cover not just yourself, but also your entire family
  • Indemnity for pre-existing ailments after a waiting period of 2 to 4 years
  • Higher covers at affordable premium rates
  • The option to change your insurer at the time of renewal
  • Complete and comprehensive medical coverage for the entire family
  • Feasible yet adequate health cover
  • The option to avail cashless hospitalization
  • The option to avail tax benefits on the premium paid, under Section 80D of the Income Tax Act

Mediclaim Policy v/s Health Insurance

You may have health insurance, but that doesn’t offer the same benefits that a mediclaim policy does.

Criteria Mediclaim Policy Health Insurance
Features Varies from insurer to insurer. The features of health insurance for a specific sum insured are almost the same across insurers.
Coverage Hospitalisation, injury caused by an accident and pre-existing diseases. Comprehensive plan covers pre/post hospitalisation, hospitalisation, daycare treatment and accidents.
Eligibility Every individual Every individual
Types of Policies Individual mediclaim and family-floater Individual health Insurance, family-floater, Cancer insurance, Critical Illness, Accidental death cover
Sub-limits Subject to sum insured and room rent. Subject to sum insured and room rent.
Sum Assured Does not exceed Rs. 5 Lakhs. Does not exceed Rs. 6 Crore per year.
Co-payment 10-30%, depends on the policy. 10-30%, depends on the policy.
Waiting period 30 days from the date of commencement. Does not indemnify pre-existing diseases. 30 days from the date of commencement. Does not indemnify pre-existing for 2-4 years.
Network Hospitals PAN India PAN India
Add-ons None Disability cover, maternity cover, Accidental death cover etc.
Free-look period None 15-30 days from the date the policy was purchased.
Cashless process Across network hospitals Across network hospitals
Claims Can be claimed online and offline until the sum insured is exhausted. Can be claimed online and offline. The sum insured is paid in lump sum upon the diagnosis or accident.

What does our Mediclaim Insurance Policy cover?

  • Procedures or treatments that require less than 24 hours of hospitalisation
  • AYUSH expenses (cost involved in a treatment that requires over 24 hours of hospitalisation under non-allopathic medical practices, namely Ayurvedic, Unani, Sidha, and Homeopathy
  • Pre-hospitalisation expenses such as blood tests, X-rays, urine tests, sonography, MRIs etc. for diagnostic purposes
  • Post-hospitalisation expenses incurred after the policyholder is discharged, like medicines, follow-up tests etc.
  • Domiciliary hospital expenses, which are incurred in medical treatments that need over 3 days of hospitalisation, but are conducted at home in India
  • Organ donor expenses
  • Emergency ambulance expenses
  • Maternity expenses
  • Hospitalisation expenses for newborns
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