Unlike health insurance, mediclaim policies have entirely different benefits. But, when it comes to health insurance, most people tend to question it and are of the misconception that you only need a health insurance when you are ageing or have been diagnosed with a serious illness. Unfortunately, it doesn’t work like this.
With the dynamics of life changing, one really needs to take care of their body and look out for any disease. If a person is diagnosed with any major illness like cancer or ALS, the hospital bills are huge and can drain the diseased person financially as well emotionally. compare medical insurance online A Mediclaim policy provides reimbursement to the policy holder wherein the cost of the hospitalization and related expenses are covered.
There are broadly two types of Mediclaim policies which are:
- Individual Mediclaim: This one will suit the requirements of a single individual and the insured can choose a sum he/she is comfortable with. The policy holder will get all the benefits of the insurance policy under this scheme during the period of the policy.
- Family Mediclaim: People are going for this scheme today because in one premium, you can get your entire family covered. A single policy provides cover for any or all family members.
If you are looking for a family Mediclaim, then you need to Buy Best Mediclaim Policy India has to offer. And to do this, you need to follow some ground rules.
Type of Mediclaim policies
This one is important and among the numerous types, the most popular and feasible type is Managed Care Plan (MCP). It offers numerous options and one of it includes the flexibility to choose the family members for which he/she needs family cover.
Other types of plan include the Preferred Provider Organization (PPO). But, this policy limits the number of medical practitioners you can go to. You can only go to a medical practitioner for treatment which has been approved by the insurance company.
Other types which you need to look for include Health Maintenance Organization (HMO) and Point of Service Plan (PSP).
Cost of the cover
Another significant factor you need to consider is the cost of the plan, which in many cases, is directly proportional to the coverage plan. You should opt for a mediclaim policy that needs you to pay a premium that fits your budget and doesn’t become a financial burden. When it comes to buying a Mediclaim policy for the family, you need to weigh all the pros and cons and then proceed.
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