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 the future holds for us and hence, medical claims come into the picture.
Having 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 a medical insurance claim as a part of their cost to the company.
Being prepared is a smart way to overcome health expenses in the future. Now that we know the importance of medical claims, we should be aware of different medical insurance available in the market. Just like before buying a car, we compare different cars, their features, prices, schemes, colors, etc.,
we should always compare medical policies offered by different insurance companies. Mediclaim policies differ according to health risks and hence we should understand the need for different medical policies. Like health risks differ from each other, similarly, medical insurance plans vary as per their coverage.
Moreover, you should not be dependent on just one medical plan for varying health needs. Similarly, a medical plan may not be suitable for everyone.
Let’s have a look at the types of medical insurance available for an individual in the market.
- Hospitalisation plans: This plan compensates the insured subject’s hospitalisation 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 to the actual cost.
- For instance, if Rs.3000 is the hospitalisation 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 hospitalisation cost is Rs.1500, the insured still receives Rs.2500.
- Critical illness plans: This type of plan is related to critical illnesses that 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 medical 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 of various medical insurance plans available in the market. Within the ample range of medical 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 medical insurance company yet, then it’s the right time to get it done to secure your future from unforeseen medical emergencies.