Ignorance cannot always be bliss can it? It's true for most cases. People do not realize how important it is to invest in a health insurance policy. They seem to have the wrong notion that buying a policy is something which one is expected to think of when they are of ill health or are aging in a non-healthy way. One must always remember – contracting an illness or getting in to an accident can take place irrespective of your age. Events like these can cause a lot of distress and discomfort in the lives of you and your loved ones. For instance, you may end up encountering staggering hospital expenses for life saving treatment. The best way to protect yourself and your loved ones from any kind of financial hardship is to take advantage of the benefits offered from purchasing a mediclaim policy.
Such policies usually contain many features beneficial to your own health needs and requirement. Looking at it from a legal standpoint, the policy comes in the form of a contract whereby the insurer agrees to offer sufficient reimbursement to the insured or in some cases, cashless treatment. This reimbursement helps in dealing with the financial hardship as it covers up to 90-100% medical and hospitalization expenses. To make it simpler for the customer to understand this, the insurance company is obligated to provide the consumer with a complete list of 'expenses', which are clearly defined in the insurance policy documents. In most cases, your policy coversall relevant expenses ranging from diagnosis of the illness to its complete treatment. It even covers theexpenses incurred for surgeries and all medications including other medical aid used during the treatment.
Today, there are easily several or more reasons why taking such a policy does make perfect sense. To make it easier for the consumer to understand the importance, we have listed a few of those reasons below.
- Health related uncertainties keep people on their tenterhooks. This might occur any moment in anyone's life. This is when existence of a mediclaim offers the perfect financial support during this difficult phase.
- Rising nature of medical expenses has compelled people to think about having a financial backup in place. Health inflation is a real thing. In such a situation, having one of the best medical insurance in India serves the purpose in every way.
- Not everyone is interested to procure such a policy solely because of financial support. There are many who believe such policies serve them twin purposes. Firstly, it provides them adequate assurance of financial respite in case of ill health. Secondly, they are also capable of taking advantage of tax benefits. This is a clever tactic of the government to encourage people to invest in mediclaim.
Presently, mediclaim is available in two distinct categories.First is the one that gives suitable insurance coverage to individuals. The individual in question has the liberty to select a sum insured according to his/her preferences. The sum insured gives medical coverage during the policy period. Depending upon your preferences, you can choose all or any family member.Second category is the family mediclaim. Most mediclaim providers offer great discounts on premium when the policy is taken for the entire family. Under this plan, the entire family gets insured under a single plan. The premium paid under such a plan depends on family size and highest age of the family member.
To conclude, If you wish to derive true advantages of such a plan, you are expected to adhere to stipulated terms and conditions. Some of them being, ailments that existed before taking the policy do not come under the purview of the policy. Likewise, expenses that exceed the policy contract amount are not reimbursed by the insurance provider. Only undergoing the medical treatment at any hospital or clinic does not entitle you to stake claim for reimbursement. Instead, the treatment ought to be taken from a hospital or medical facility that finds a mention in the list of hospitals or clinics accredited by the insurance provider.
This article has been published by Saif Raja, a regular blog writer on mediclaim policy . You can find valuable information on best medical insurance in India that can help you get a good understanding of the Health Insurance Policy.