Health Insurance

Mediclaim policy covers cost of medical treatments

Among Insurance products, HEALTH INSURANCE has emerged as the most popular product. The skyrocketing cost of medical treatment has made it most sought-after product. The cost of treatment has been increasing by 17% pa which is much higher than the rate of inflation.

Health Insurance protects the expenditure incurred on unforeseen diseases, accidents, Critical Illness, etc. It covers expenditures like Hospitalization, Day-care, Domiciliary treatment, operation charges, Ambulance charges, etc.

The health insurance policy is also popularly known as Mediclaim Policy.

Type of Health Insurance

Individual Plan

In this plan, an individual is covered. This plan is suited for unmarried individuals and should be taken as soon as individual starts working and should be taken even if employer provides

Family Floater Plan

In this plan, the entire family is covered. The family consists of husband, wife, and two children. Total sum assured will be available to the family collectively or individually.

Family Floater with Parents

In this plan, the parents of either of the spouse are also covered along with the family.

Insurance Plan

How to Choose the Best Insurance Plan

Need

Health Insurance plan is needed to protect from the exorbitant medical expenses to be incurred on unforeseen diseases or accidents.

Amount

Amount of coverage or sum assured is to be selected basing the income and need for the coverage for the self and family.

Renewal

Maximum age for renewal of the policy to be checked. It differs from company to company. Normally, renewal for life long is assured.

Claim Settlement Ratio

Claim settlement ratio is to be verified. A higher claim settlement ratio indicates the intention of the company to settle the claims.