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ON MEDICLAIM & HEALTH INSURANCE.


WHY HEALTH & MEDICLAIM INSURANCE ???????
It is truly said that……….
We all work so Hard to earn money that we Ignore our Health, Later We Spend Lots of Money to Regain Our Health.
Now a days it’s noted that Most of us due to High Level of Stress & Work Commitments suffer from ailments which leading to Hospitalisation.
It is also noted that Most of us are not Adequately Covered under Health / Mediclaim Insurance. We ignore the fact that it is the Utmost Necessary Provision needed under our financial plan.
What are the ill effects of Not Being Covered or Being Covered Inadequately?
Not Being Covered or Covered Inadequately puts Our Family under Tremendous Stress & Strain where in one has to liquidate Entire Life Savings Leading to a Financial Crunch for One & All in the family.
So it is of UTMOST IMPORTANCE that one Review the Health & Medical Insurance at Every Stage of Life & Increase it so as to be Covered Adequately.

What is a Health/ Mediclaim Policy You may Ask???
It is a cover where in expenses related to hospitalization are paid by the insurance company subject to terms & conditions & guidelines laid down by the respective companies.
The Hospitalization should be related to contracting an illness, diseases or surgery where in hospitalization is necessary & is advised by a doctor.
TYPES OF MEDICLAIM & HEALTH INSURANCE POLICIES.
This era of competition has led to the opening of health & mediclaim insurance products offered by a variety of insurance companies in the market.

The Different types of Policies are….
  1. Individual Mediclaim.
  2. Family Floater mediclaim. 
  3.  Top up mediclaim.
  4. Health insurance with critical illness cover.
CERTAIN TERMS & CONDITIONS UNDER MEDICLAIM.
Validity of the policy :- 1 year for treatment in India only.

Premiums :- The Premiums are paid once every year, depending on the age of the policy holder. & the Zone where one stays.
Family discount :- Most of the Individual Mediclaim policy offer a family discount on their premium’s when spouse & dependent children are covered under the same policy. The maximum discount offered is 10%.
Cumulative Bonus :- Most of the Insurance Companies give Cumulative Bonus to the extent of 5% of the sum insured or the period you have no claim under the policy.
Expenses :- Reasonable, customary & necessary expenses are reimbursable under the policy like…
¨      Room charges to the extent not exceeding 1% of the sum insured per day or the actual amount which ever is less
¨      ICU charges to the extent not exceeding 2% of the sum insured per day or the actual amount which ever is less
¨      Surgeon, anesthetist, medical practitioner fees
¨      Pre Hospitalization medical charges up to 30 days before hospitalization
¨      Post Hospitalization medical charges up to 60 after discharge from hospital
For detailed list of expenses allowed one must read the prospectus of the respective insurance companies.


Before signing up one should go through the following.
1.     Permanent Exclusions
2.     Waiting Period for certain Diseases.
3.     Network Hospitals.
4.     Claims Procedure.


TO KNOW MORE WRITE IN 
planmyinsurance@gmail.com


Premium Calculator For New India Assurance Co Ltd.
Premium Calculator For Apollo Munich Health Insurance
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