MEDICLAIM OR HEALTH INSURANCE



Insurance is a great financial instrument when you are thinking about financial security. When it come to our health hospitals and medical expenses eat up a big chunk of savings when it come to illness, hence it is very important to buy insurance for health purpose. Now comes the terms health insurance and mediclaim policies. Both of them are used generally interchangeably but there are difference in them. Today let us go through the difference between the health insurance and mediclaim.


Mediclaim policies:

1. the most important fact is that it covers only hospitalization cost.

2. For filing mediclaim, hospitalization is required.

3. The cover given is limited the upper cap being mostly 5 lac. 

4.  The expenses incurred in hospital is usually reimbursed to the person.

5. It allows the insured to make n number of claims till the sum assure is exhausted.


Health Insurance:

1. Health insurance is more comprehensive and covers even pre and post hospitalization, ambulance charges, compensation for the lost income and more.

2.For filing health insurance claim it may not necessarily be hospitalization, eventuality must have happened like critical illness.

3. over given is quite extensive can even be upto 60 lac.

4. There may be riders like critical illness, accident and disability riders which may pay a lumpsome amount in case of event.

5. Since in such event entire amount coveredd is paid in one go hence in that policy tenure no othe claim is paid.


These are important factors you should keep in mind while deciding to buy a health insurance or a mediclaim as per the individual requirement. 




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