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Insurance Article

How to select the right mediclaim policy

March 17 2014

Because of an increase in incidence of disease, a lot of people are opting for a mediclaim policy from health insurance companies. But the point lies in buying the best one which covers all your specific needs. One of the basic criteria before selecting mediclaim policies is to know which type of policy will suit you.

It means opting for those policies which is comprehensive and provides maximum coverage to the individual. Before buying any mediclaim policy, the insured must undergo medical checkups. This helps in determining the coverage you require, based on your health condition. If you are aware of existing conditions like diabetes or cardiac disorders then selecting those policies which include coverage for such disorders would be valuable.

Health insurance companies provide mediclaim policy based on different age groups, like mediclaim for students, families, senior citizens and employees. Mediclaim policy for students: If you are a student studying abroad or away from your home, this policy will provide health insurance by providing financial security during medical emergencies. It provides coverage in case of accidents, illness or in extreme cases such as death of the student.

Even the hospitalization bills of the student are covered in this policy. Mediclaim policy for employees: Nowadays, many companies have started providing mediclaim policies to their employees. These policies provide coverage to the employees and in some cases to the employee’s family also. When an employee needs medical attention, this policy will help in paying the medical bills. Not only private firms, even government companies provide mediclaim facilities to their employees.

Mediclaim policy for family: Rather than buying individual mediclaim policies for each of your family members, a single coverage for the entire family is quite beneficial. Health insurance companies have plans that cover the whole family under one family mediclaim policy. Along with basic facilities like paying hospital bills, these policies also offer cashless facility, medical check-ups etc. Mediclaim policy for senior citizens:

The Insurance Regulatory and Development Authority (IRDA) has requested the general insurance companies to keep at least 65 years as the maximum entry age for a health insurance policy. Thus even a senior citizen can avail the benefits of mediclaim policies with the use of specially designed policies for them There are some more important factors to check before purchasing a mediclaim policy. For example, before buying a mediclaim policy, check if the health insurance company provides a cashless mediclaim facility. Here, the insurance company settles the hospital bills directly unlike other mediclaim policies where the insurance amount is reimbursed later. This and other valuable services are very handy in times of medical emergencies.

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