Mediclaim Insurance

A mediclaim health insurance policy is categorised as a subset of health insurance that is designed solely to provide financial support to cover hospital expenses end-to-end.

From pre and post-hospitalisation charges to day-care procedures fees, ambulance charges, and hospital expenses, all these costs are covered under mediclaim insurance. It is an economical alternative to cover medical emergency expenses based on the sum insured.

Similar to other health insurance plans, the mediclaim policy premium is based on individual coverage needs. Most mediclaim insurance plans offer cashless procedure facilities in a list of network hospitals to increase policyholder convenience.

** ⁠Inclusions of Mediclaim Insurance **

All hospital charges - medicines, X-rays, MRIs, therapies, etc.

Room rent - intensive care unit fees, ward fees, OT fees, etc.

Ambulance charges - before and after the treatments.

• Doctor fees for consultation, treatment, and follow-ups.

• Hospital staff fees, if any.

** ⁠Exclusions of Mediclaim Insurance **

• Pre-existing conditions and diseases until the waiting period is over.

• Self-inflicted injuries.

• Cosmetic treatments.

• Ayurvedic or homoeopathic treatments.

• Dental surgeries if no hospital visit is recorded.

• Pregnancy complication treatments.

• HIV AIDS

Mediclaim health insurance is a type of health insurance plan. Thus, it is essential to note that they are not the same. The different types of mediclaim health insurance plans include.

Individual Policy - Insures a single person for a set amount to cover all hospital expenses in case of emergencies.

Group Policy - A policy that allows employers or heads of big groups to provide all members insured together with the benefit of cashless hospitalisation or timely reimbursements on their hospital bills.

Family Floater Policy - All members of the family are insured together for a specific sum amount to cover hospital expenses. The entire sum can be used together by the family members or a single family member can also avail the entire sum when in need.

Senior Citizen Policy - For senior or elderly citizens, this policy category provides coverage for hospitalisation charges in case of any emergency.

Critical Illness Policy - Some mediclaim plans offer critical illness insurance coverage and provide a lump sum assured amount to the policyholder to help plan the treatment better at a hospital. This is only limited to a list of life-altering diseases and disability cases.

Mediclaim insurance policies provide the policyholders with a financial safety net by covering hospital expenses in case of an emergency or other unforeseen circumstances.

• According to Section 80D of the Income Tax Act, all mediclaim insurance premium payouts are eligible for tax deductions.

• Policyholders can benefit from cashless medical treatments from any of the network hospitals in the region. However, the hospital network and other terms and conditions can vary for different insurance providers.

• Mediclaim insurance plans are cost-effective as they reduce hospital costs without exhausting your savings.

• Based on the policy you choose, you can opt for the lifelong renewability option.

The choice between a health insurance policy and a mediclaim insurance policy depends on various factors. All the factors vary from person to person and take the family and past medical history into consideration.

These factors include the following -

Budget - If you are looking for an economical plan limited to hospital charges alone, buying the cheapest mediclaim policy that fits your budget is recommended. However, if you are flexible with your budget and want to benefit from broader coverage with guaranteed long-term value, a comprehensive health insurance plan is a better option.

Health Conditions - For people with pre-existing conditions or poor immunity requiring medical assistance frequently, a health insurance plan is better as it allows coverage customisation flexibility.

Lifestyle - If you are prone to frequent illnesses, comprehensive health insurance plans are better as they extend coverage for medications, hospital, and OPD expenses

Family Needs - Based on the number of family members and their age group requiring insurance together, choosing a family floater plan under comprehensive health insurance will be more beneficial than mediclaim family floater insurance due to broader coverage for a reasonable price.

In the end, the final decision depends on the factors mentioned above. Still, for a secure financial future in regard to all things health and wellness, a comprehensive health insurance plan is highly beneficial in the long run.

With the growing unpredictability of health issues and accidents, investing in a financial safety net to ensure your out-of-pocket expenses do not run out in times of urgent medical assistance is necessary.

One of the key benefits of health insurance by Tata AIG is that it allows you to customise based on budget, coverage needs, medical history, and much more, ensuring you get the best policy.

Whether it be critical illness insurance, OPD cover, in-patient treatment or any other medical expense, we provide numerous options to choose from. Our cashless claim facility makes it easier for policyholders to get the proper treatment without the constant stress of repayment after claim settlement.

You can visit our website to compare different plans and then buy health insurance online in a few steps. We also offer a hospital network of 8,000+ hospitals and promise a high claim settlement ratio, as customer satisfaction is our top priority.

• Visit our Tata AIG website.

• Select “All Products” and click on “Health Insurance” from the dropdown menu.

• On the new window, select who you wish to include in an insurance plan and click on “Get Plan” to proceed.

• Now, enter the date of birth of the applicant followed by mobile number, email address and PIN code. Then click on “See Plan”.

• Enter the OTP shared by email or text message.

• Check the plans available for you and adjust the sum insured value and tenure period as required.

• Once done, pay the premium and collect your policy.

Today, it is crucial to understand and acknowledge the need to secure your financial future for a healthier tomorrow.

Whether you choose a mediclaim insurance policy or a comprehensive health insurance policy, investing in this financial tool promises peace of mind in times of need. So, assess your needs and budget and purchase a suitable plan at the earliest.