Life is full of uncertainties and one can never plan enough for the future. In order to have a healthy and happy future, we need to make health our first priority. After all, health is the real wealth. Investing in health today will only allow you to enjoy your future to the fullest. And by investing in health, we mean Mediclaim. A lot of us take health for granted thinking that only healthy people would need a health cover. However, we never know what future holds for us and hence, mediclaims come into the picture.
Having a medical insurance allows you to pay for all the unforeseen hospitalization expenses. With the help of medical insurance, one can reimburse a pre-defined percentage of expenses incurred during the course of illness. There are a number of medical insurances available in the market for an individual and for their family as well. Employees can also be entitled to medical insurance claim as a part of their cost to company.
Being prepared is a smart way to overcome health expenses in the future. Now that we know the importance of mediclaims, we should be aware of different mediclaim insurances available in the market. Just like before buying a car we compare different cars, their features, prices, schemes, colors etc., we should always compare mediclaim policies offered by different insurance companies. Mediclaim policies differ according to health risks and hence we should understand the need of different mediclaim policies. Like health risks differ from each other, similarly mediclaim insurance plans vary as per their coverage. Moreover, you should not be dependent on just one medical plan for varying health needs. Similarly, a mediclaim plan may not be suitable for everyone.
Let’s have a look at the types of medical insurances available for an individual in the market.
- Hospitalization plans: This plan compensates the insured subject’s hospitalization and medical costs to the sum insured. It is also known as the indemnity plan. This type of medical insurance can be claimed by an individual as well as by a family as a whole.
- Hospital daily cash benefit plans: As the name suggests, this plan reimburses a defined sum of money for everyday hospital charges indifferent of the actual cost. For an instance, if Rs.3000 is the hospitalization expense for a day and the individual’s policy is defined to Rs.2500, the insured person will receive the latter. On the other hand, if the hospitalization cost is Rs.1500, the insured still receives Rs.2500.
- Critical illness plans: This type of plan is related to critical illnesses which occur less frequently and with a high cost of treatment. It pays the insured person a lump sum amount on diagnosis of predefined clinical illness and medical procedures. These critical illnesses are different from regularly occurring medical problems like heart attack, stroke, etc.
Numerous mediclaim insurance plans are available in the market. Besides choosing the right plan, it is equally important to get insured by a reputed insurer. It becomes important for the person not to invest in the wrong plan. One should choose a plan after an in-depth study about various mediclaim insurance plans available in the market. Within the ample range of mediclaim insurance plans available, one can get a plan according to their health needs at affordable prices. Being insured by a good & trustworthy insurance company will give you peace of mind from a huge fiscal burden. Hence, insurance has an important role to play in your life. If you still aren’t insured by any mediclaim insurance company yet, then it’s the right time to get it done to secure your future from unforeseen medical emergencies.