subject: Things You Should Know About Mediclaim Insurance [print this page] India may be a hot spot for medical tourism but the cost of hospitalization and treatment for major surgery is expensive for the population to bear. Sudden medical expenses are difficult for families to bear and disrupt their financial planning. Keeping this in mind every individual seeks to invest in a mediclaim insurance policy. There are plenty of schemes floating around the market to cater to everyones needs. Every scheme has something extra to offer which confuses individual while making a choice for health insurance.
Mediclaim insurance offered by most of the companies lasts for a year. An insured person has the option to renew the same scheme after a year if satisfied or try another scheme that suits him better. Mostly medical insurances have additional benefits attached if you continue to renew the same scheme year on year. Insurance companies draw a detailed chart to get an estimate of the overall healthcare costs and monthly premiums required to acquire the cover. Mediclaim insurance can be bought either for an individual or for a group like a family or office staff. An individual plan covers the insured person for the entire amount chosen; on the other hand a family insurance provides cover for the entire unit for the chosen amount.
It is important to note that medical insurance pays for a certain set of accidents and ailments only. Also, most insurance do not cover health issues arising due to pre-existing diseases. In case you want a medical insurance that covers pre-existing diseases too, then you may have to pay a little extra premium to get the cover. Normally, a mediclaim pays for the treatment as in the surgery, hospitalization and outpatient bills. However, it is important that these expenses are within the amount you have taken cover for. Any additional costs will have to be borne by you.
To avail the benefits offered by the mediclaim insurance, be sure to get treated in a hospital that comes under the insurance companys network of hospitals. Medical insurance companies have a list of health care centres that form their network to cover the cost of treatment. This means that when you get yourself treated in any of the hospitals belonging to their network, the insurance will cover the amount spent. However, if you get yourself treated in hospitals other than these you may have to go through a few nominal formalities to get the insurance benefits.
The best mediclaim insurance is one that comes with a low premium rate and covers maximum diseases and accidents. A mediclaim that covers pre-existing diseases is the best buy. Make sure to opt for a policy that makes instant payments in case of emergencies. Almost every insurance offers cashless policy today to avoid the hassles faced by clients at such crucial times. Some mediclaims even offer annual checkups to their clients as an added benefit. Be sure to discuss all the added benefits of the mediclaim you choose with your agent before investing. This will help you make an informed decision.
by: Pradeep Goel
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