How to Get Affordable Mediclaim Insurance?
| | | Jan 07, 2009 | | | | | A question that baffles everyone today is the importance of health or mediclaim insurance. You may consider yourself fit and healthy and see no reason to avail a mediclaim policy. But the truth is that today's hectic lifestyle has taken a toll on our health. We may feel that everything is good right now, but how does one rule out the possibility of falling ill in future? It is important to make provisions for these ill – health times. One can at least avoid or reduce the financial impact in such not-so-good health conditions by availing a medical insurance policy. (Also commonly known as mediclaim insurance or individual insurance cover)
An affordable mediclaim policy not only takes care of an individual's financial requirements, but also provides insurance coverage for the entire family, as long as they are eligible for a mediclaim insurance policy.
Usually, a person of 5 to 75 years is eligible for individual insurance coverage. Children between 3 months and 5 can also be insured under this policy. However, the eligibility of various insurance plans by various insurance providers differs from one another. There is also Group insurance policy and scheme that usually covers groups over 50 people.
Another important aspect to consider while buying an affordable mediclaim insurance or scheme is the coverage within the medical policy. An average insurance scheme provides medical cover that included hospitalization charges, treatment of illness and other basic medical expenses inured by the insurance policy holder. However, there are loads of innovative mediclaim heath insurance plans that cover critical illness, outpatient expenses and more. Compare the coverage of various mediclaim plans available and choose the one that suits you the best.
How does an affordable individual medical insurance policy or a group mediclaim insurance scheme benefit you? Apart form the medical security mentioned above, mediclaim health insurance and medical policy also allows tax exemption under section 80D of the Indian Income Tax Act. One can avail tax benefit for premium paid for health insurance for his family and parents.
Thus, the medical insurance policy or the mediclaim health insurance or the individual insurance coverage not only covers medical costs but also allows tax benefits to the insured.
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