Mediclaim Insurance Policy
All You Need to Know About Mediclaim Insurance Policy in India
Health Insurance for Individuals
A comprehensive health plan for individuals
All You Need to Know About Mediclaim Insurance Policy in India
A comprehensive health plan for individuals
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under section 80DA Mediclaim insurance policy is a type of health insurance policy where the insurance company reimburses the expenses incurred by the insured for treatment of their medical condition. If you have purchased a mediclaim policy, you can request reimbursement by submitting the bills to the insurance company.
Also, if you have opted for cashless treatment option, you need not worry about paying the bills. The insurance company will directly settle the bill with the hospital. However, to benefit from the cashless facility, you must seek treatment from one of the network hospitals of the insurer. One of the critical features of a mediclaim policy is that it is valid for a limited period, and you must renew health insurance policy at the end of the term to continue to get the benefits of the policy.
In the purview of the sedentary lifestyle, people are at a high risk of suffering from various diseases. Purchasing a medical policy can help you get financial assistance in the hour of need. Today, a lot of people prefer buying a mediclaim health insurance policy because of the following reasons:
Mediclaim insurance provide protection against medical bills
You can avail of the cashless facility at network hospitals
Mediclaim is available for both individual and family
It provides tax benefits on the annual premium
There are various types of health insurance plans available in the market. You can choose a mediclaim policy, depending on your specific requirement. The popular types of Mediclaim policies are:
Starting at only ₹5 per Day*
The inclusions or coverage of a mediclaim policy varies among insurance companies. Medical Insurance from IFFCO Tokio include the following expenses:
Starting at only ₹5 per Day*
As comprehensive as a Mediclaim policy can be, there are certain aspects of treatment that are not included in the policy. Some of the common exclusions include:
Pre-existing illnesses are covered after the completion of waiting period
Plastic Surgery and Cosmetic Surgery
External devices like hearing aid or contact lenses.
Irrespective of the type of Mediclaim policy you buy, make sure to read the policy documents carefully and understand the terms and conditions. Knowing the terms and conditions will help you make an informed buying decision and you will get the best coverage to suit your needs.
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It’s okay to be a little confused when purchasing a mediclaim insurance policy, especially if you are a first time buyer. Insurance is not everyone’s cup of tea and selecting the right plan can be tricky. Keeping this in mind, we have highlighted basic pointers that will help you with your decision-making process & ensure you buy the right mediclaim policy.
There are many different kinds of plans to choose from. To begin with, you will have to choose between indemnity & fixed benefit plans. Indemnity mediclaim plans provide compensation for your medical expenses, whereas fixed benefits mediclaim plans offers a pre-decided payout in case you suffer from any condition covered by the policy.
Experts suggest that you get an indemnity plan as your base. Then you can add fixed benefit plans such critical illness cover, hospital daily cash, etc. to ensure all-around protection against medical emergencies.
When it comes to indemnity plans, you again have two options –
1)Individual mediclaim insurance plans
2)Family mediclaim insurance plans
You can either go for an individual plan or purchase a family floater policy. Individual plans offer extensive coverage but they can be a little costly. Family floater plans on the other hands are more affordable but the coverage has to be shared by all the included members. You will have to make a choice based on your needs.
Starting at only ₹5 per Day*
As you might know, there are several mediclaim insurance plans that you can choose from. Each of these plans will offer you a different set of features & benefits. This can make the task of choosing between all the available options a little difficult. But worry not! We have highlighted 5 important tips to help you choose the best health plan.
For some buyers, health insurance is something that must be bought face-to-face. If this is the case with you, then remember that our branches are always open to you. Visit us during office hours and our insurance experts will be more than happy to hand-hold you through the buying process. However, if you are looking for a modern way to buy your mediclaim policy, then just head on over to our website and make the purchase online. You will enjoy several benefits by doing so, some of which include:
There are two ways you can buy a mediclaim insurance policy from IFFCO-Tokio. You can visit any one of our branch offices or contact any of our agents in your area. Rest assured you will receive all the help & guidance you require to purchase the right mediclaim insurance policy.
The second way is to head to IFFCO Tokio website and buy the mediclaim policy online. This is a much easier process as you have to simply follow the 3 steps mentioned below and you will have the coverage you need.
Step-1
Fill in your details
Step-2
Customize your coverage
step-3
Make payment
Starting at only ₹5 per Day*
