Medical care has become an expensive affair today. Instant catering to huge hospital bills may not be probable for all. With big diseases like cancer, cardiac problems, severe joint problems, etc. becoming common, it has become difficult for the common masses to bear the expenses at ease.
As per a survey, less than 10% of the population of India has the ability to pay Rs. 5 lakh or less in case of a surgical emergency. Mediclaim is the best answer in such a situation. With a mediclaim, an individual or a family can lead a stress-free and worry-free life and any inconveniences related to health will be taken care of by the insurer.
A mediclaim policy essentially provides a health cover equal to the insured sum. The amount of the insured sum depends on the premium you pay and the benefits covered vary from plan to plan and from company to company.
Do check the diseases covered while buying a mediclaim health insurance policy and also check whether it is cashless or not. A cashless policy ensures hassle-free transactions. The premium amount also varies as per age; the higher your age, the higher the amount you need to pay. Though most insurance providers do not require you to undergo medical tests, a senior citizen applicant or mostly those above fifty years of age, need to undergo a medical test to be able to buy a mediclaim health insurance.
There are numerous companies that offer mediclaim policies and buyers get a variety of choice. Buy the one that best suits your needs or the needs of your family. There is a vast difference between individual mediclaim health insurance and family mediclaim health insurance.
While an individual policy entitles the insured to avail benefits for self, the family plan covers the entire family; most companies cover husband, wife, two kids below 12 years and dependent parents. The premium to be paid will no doubt be more than an individual plan. Do keep the insured sum a bit higher and look into the terms and conditions of the mediclaim policy, diseases covered, etc.
You avail several advantages with a mediclaim policy. In addition to providing yourself and your family financial shelter against health risks if any, you also save on your tax amount. Many a corporate executive today who fall under the tax slab does buy a mediclaim policy to save tax.
