Mediclaim policy is intended to provide coverage to unexpected medical expenses that may lead to financial hardships. With growing popularity of the health insurance policy, it becomes nearly impossible for us to pick out a suitable policy at the affordable prices. Like all other forms of insurance, medical health insurance also comes with different policies and premium rates. A government organization or private insurance companies may provide medical health insurance. However, here are some tips and tricks shared with you, so that you can have no problem while choosing the mediclaim policy for your needs.
First, we should discuss that most of the mediclaim policies come with a minimum duration of 1 year and a maximum duration of 2 years. It is framed by evaluating the overall healthcare expenses and the monthly premium to be paid. These details are included in the insurance agreement and accordingly the benefits are paid by the insurance company. You can buy the mediclaim policy collectively or individually. Collective policies may include family insurance, group insurance or short-term health insurance. Family mediclaim policies include the entire family that is stay-at- home parents; students etc. while the Group insurance are usually bought by employers to cover all their employees at discount rates and greater benefits. However, in both the cases, the amount of premium is nominal.
Short term insurance offers coverage for short span of time like college years or in between jobs etc. Such kind of mediclaim policy usually preferred by self employed, entrepreneurs etc. At a low rate, an individual can opt to cover his or her spouse as well. This is flexible with a wide range of rates and premiums. Opting for the right scheme or policy may save you from incurring heavy expenses that may crop up from an unforeseen accident or hospitalization of the loved one.
There are many mediclaim policies, which cover a certain set of accidents and ailments. Any pre existing ailment like diabetes, poor eyesight etc is not included in the insurance. In this case, the insurance provider covers the hospitalization bills after a brief check whether the rates applied are in line with the agreement made. However, any cost other than the rates applied by the insurance company is to be carried out by the patient himself. Surgical costs, outpatient bills are covered only if the amount fits the amount quoted in the insurance agreement.
Mostly, the mediclaim providers have a list of network hospitals, which provide a discount or other benefits to the client if the treatment is taken from any one of the hospitals enlisted. The interesting fact is that, nowadays many insurance providers offer provide cover to homeopathic treatments, however, in that case, you gave to get treatments from certain specified hospitals. Such mediclaim policies also offer coverage for death of the person covered and the benefit amount would be received by the nomine.
Choose a policy, which is easily customizable and offers you the reimbursement at the earliest.