Such policies are usually bought by employers in small and medium scale industries to insure their employees at low premiums.Ī good Mediclaim policy can protect the insured against a vast range of medical expenses.
Age, sum insured, policy period, etc., are a few of the factors that affect the premium.
Mentioned below are some important aspects of a Mediclaim policy:
Such policies are valid for a particular period after which the policyholder has to renew it to enjoy the benefits. Mediclaim policy is a type of health insurance that offers a health cover for illnesses and hospitalisation up to a specific sum insured. Skyrocketing medical inflation rates have made Mediclaim policies or health plans a necessity to make healthcare affordable for the larger masses. The insured can either submit the relevant bills to get reimbursed or avail completely cashless facilities at the insurer's network hospitals. What is Mediclaim?Ī Mediclaim is a form of insurance wherein the insurance providers reimburse the policyholder for any medical expenses that he/she might have incurred in the policy period. It covers the insured against any medical expense that might occur during the policy period and also offers tax benefits under section 80D of the Income Tax Act of India, 1961. These policies also provide tax benefits to policyholders.Ī Mediclaim policy provides the policyholder with financial assistance through cashless facilities or reimbursement during medical treatments and hospitalisation. Individuals who have a Mediclaim policy can either raise a cashless or reimbursement claim. A Mediclaim policy provides coverage against medical expenses that one might incur.