The Top Features to Look for in a Mediclaim Policy

Features to Look for in a Mediclaim Policy

Health should be the top priority of any person as it supports every other area of life. But unfortunately, it is often ignored. In the process of prioritising your income, career, family, etc., you may forget to take care of your own well-being. To take care of yourself and your loved ones in the long run, you must buy a mediclaim policy for the family. This blog will provide information regarding the mediclaim policy with its features and how it can benefit you in life.

What is Mediclaim?

A mediclaim insurance policy is a type of health insurance that provides coverage for the medical expenses incurred to treat health issues. If you are a policyholder, you can avail of the cashless benefits for hospitalisation, daycare procedures, ambulance charges etc., at network hospitals in case you fall sick. You can also claim reimbursement for the treatment availed at non-network hospitals.

A mediclaim insurance policy is a type of health insurance that covers medical expenses incurred while treating health problems. If you are a policyholder, you can use your cashless benefits at network hospitals for hospitalisation, nursery procedures, ambulance charges and so on. You can also get reimbursed for treatment received at non-network hospitals. These policies are classified into three types:

  • Individual Policy: 

As the name suggests, the individual policy covers one individual. You just need to pay an annual premium against the medical coverage you get.

  • Senior Citizen Policy: 

People above the age of 60 years are considered senior citizens. In order to provide coverage to fulfil their medical needs, a special senior citizen plan is designed.

  • Family Floater Plan: 

The medical policy for the family offers medical coverage to all the members of the family. This includes spouses, dependents, parents, and children. You get a single sum insured for all the members.

What are the Features of a Mediclaim Policy?

You must select the a policy for family wisely as it is going to impact your as well as your family’s financial well-being. The policy should have the following major features:

  • Ease of Buying: 

You should consider a policy which is easily available on online platforms as well as available for purchase through agents.

  • Worldwide Coverage: 

The coverage of the policy must be available throughout the globe. You might fall ill outside your country. Therefore, you must buy a policy which provides its services abroad as well.

  • Affordability: 

You must fix a budget after comparing various policies. The policy should provide maximum benefits within the budget you allocated to it.

  • Network Hospitals: 

The policy you are planning to purchase should have hospitals in its network which are near your home. It should also cover some major hospitals for critical diseases.

  • Claim Settlement Ratio (CSR) of the Insurer: 

The most important thing while selecting an insurance company is its CSR. CSR shows the percentage of claims settled out of the total claims registered. The CSR should be high.

  • Ease of Filing the Claim:

The process of filing a claim should not be tedious. You can check the reviews of other policyholders to understand their experience with the insurer.

Moreover, medical policy for the family must cover the whole family against any unfortunate medical emergency. The aim of buying a policy must be the coverage it offers and not just the low cost. 

What are the Benefits of Medical Policy?

A mediclaim policy for family does not only cover your medical expenses but offers you the freedom to select the best medical treatment for you and your loved ones. You can expect the following benefits from a health plan:

  • Cashless Hospitalisation: 

A medical policy has a list of network hospitals under it. You can avail of the cashless hospitalisation benefit at those hospitals by showing your health ID issued by the insurer.

  • Pre and Post-Hospitalisation Expenses: 

Generally, a policy covers the medical expenses before 30 days of hospitalisation and after 60 days of hospitalisation. This includes expenses on therapies, lab tests, etc.

  • Day Care Procedure Expenses: 

Day care procedure, including cataract surgery and medical procedure, which does not require hospitalisation, should also be covered under the plan.

  • Free Annual Health Check-Up: 

Most of the policies provide one free annual health check-up to all the policyholders. This will work as preventive health care for the family.

Bottom Line

Health problems have increased over a period of time because of the unhealthy lifestyle. This has not only degraded the condition of your health but has also impacted your finances negatively. To protect the unforeseen losses, you must select an insurer which can provide you with maximum healthcare benefits. One such health insurer is Niva Bupa, which provides the best cashless mediclaim policy for family in India. 

If you are looking for a family health insurance policy, you must check its website or select its plans from other online platforms. Read More

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