Tips For Buying Best Mediclaim Insurance
May 30, 2022

Ultimate Checklist to Select the Best Mediclaim Policy Online

Anyone buying a mediclaim policy for the first time might get confused. It is important to select the right type of mediclaim insurance policy. Here complied is the essential checklist that would help to select the best mediclaim policy:

Individual or Family Floater Plan

With different mediclaim plan options available, a choice has to be made between individual mediclaim policy and family floater mediclaim policy. Individual plans do offer extensive coverage, yet have a high premium cost. The family floater plan is more cost-effective and the coverage needs to be shared with all the included members. Choose on a need basis. *

Sum Insured

Sum insured plays a vital role. Before deciding on the sum insured, consider factors such as the health condition, lifestyle habits, age, gender, etc. For instance, anyone living in the metro city should ideally opt for a high sum insured as the medical expenses are on a higher side. *

Co-payment

A co-payment clause in the mediclaim policy means that the insured is to pay a certain percentage of the claims. A mediclaim policy that has a co-pay feature is cost-effective comparatively. *

Sub-limit

The hospital bills are made of various expenses that include the room rent charges, etc. Some plans limit the sum of compensation provided for any such expenses. Therefore, while purchasing the mediclaim policy look at the plans that have no or lower limit caps. It would enable to have more compensation when claiming. Ensure to have a look at the sub-limits as some of the insurers have limits on specified diseases and illnesses. *

Network Hospitals

The cashless health insurance facility offered under a mediclaim policy can be availed only in the network hospitals of the insurer. A vast network of hospitals implies that the policyholder has different options across various geographical locations. *

Lifelong Renewability

There are insurance policies that come along with the option of lifelong renewability regardless of age. This is important for senior citizens as getting insurance at such a stage becomes tough and tricky. While buying a mediclaim policy, check for this aspect as well. *

Pre-existing Diseases

The insurance companies cover the pre-existing diseases after a waiting period. When purchasing a mediclaim policy, look at the waiting period of pre-existing ailments. The best mediclaim policy will cover pre-existing diseases at the earliest. *

Waiting Period

The mediclaim plans have a waiting period for certain pre-existing diseases. The tenure can vary from some months to years. During this period, the mediclaim policy will not cover any medical expenses incurred by pre-existing illnesses. Choose a plan that has a lower waiting period. *

Additional Benefits

At Bajaj Allianz General Insurance Company, we have an inbuilt Health and Travel Administration Team (HAT). The in-house team ensures a smooth, quick, and easy claim settlement process. *

Claim Settlement Ratio

Claim settlement ratio is one of the most important aspects. The claim settlement ratio of a company depicts the number of claims that were successfully settled out of the complete number of claims received in a year. It is suggested to go with an insurer that has a higher claim settlement ratio. It ensures that the insurance claim will be settled more likely in case of adversity. * *Standard T&C Apply

Advantages of Buying Mediclaim Policy Online

Here is a quick rundown of the advantages of buying a mediclaim policy online:

Time-saving

Now skip that option to speak to the insurance agent. Buy mediclaim online and save on time. Buy a mediclaim policy under no one's influence.

Compare Online

Buying a mediclaim policy online is a simple and quick process. Take a look at the mediclaim insurance plans available and make a wise choice. Compare the features, benefits, quotes, terms, and conditions under one roof helping to make a better choice.

Round-the-clock Assistance

In case of any support or assistance needed, get in touch with customer support. Today most insurance companies in India have a dedicated customer assistance team that helps to seek online information in no time.

Save Money

Buy mediclaim online and get the premium at a special price. Paying a premium online helps to save money when compared to paying offline.

Instant Coverage

Buying mediclaim online also provides instant receiving of policy-related documents. The transactions done online are safe and the payments are easy to make. It is recommended to buy mediclaim online as it is secured and fast. *Standard T&C Apply   Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read the sales brochure/policy wording carefully before concluding a sale.    

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