Reasons Why You Need To Get A Mediclaim Insurance Policy

The medical bills never come up knocking on the door. If an individual gets hospitalized under any unfortunate event, the medical bills can surely exhaust the savings. Medical inflation has made healthcare services slightly expensive. To safeguard the life-long savings, it is ideal to have a mediclaim insurance policy in place. Our mediclaim policy ensures proper coverage and utmost care at any point in time. Now, select the best mediclaim policy, have proper care, and that too without touching the savings.

What is a Mediclaim Policy?

A Mediclaim policy is similar to that of a health insurance policy. With a mediclaim policy in place, in any medical emergencies, the expenses are paid off up to a specified pre-decided amount. This amount is either the coverage amount or the sum insured. This is pre-decoded between you and the mediclaim policy provider. One of the important features of a mediclaim policy is that it is valid for a limited term only. Towards the end of the term, the mediclaim insurance policy must be renewed on time to keep the benefits intact. Individuals who have a mediclaim insurance policy can raise either a cashless or reimbursement claim. The mediclaim plan offers tax benefits to policyholders under the health insurance for senior citizens plan. You must note that tax benefit is subject to change in tax laws. Moreover, the mediclaim insurance policy also provides financial assistance via its cashless or reimbursement facility in case of medical treatment or hospitalization. *Standard T&C Apply

4 Reasons Why You Need a Mediclaim Policy?

Wondering, why would a mediclaim policy be required? Let us agree that at times a simple hospitalization also pushes the financial planning back. Is this a risk that anyone would want to take up? Isn't it better to be safe than sorry? Read ahead as we highlight the four key reasons to buy a mediclaim insurance policy:

1. The Rise in Lifestyle Diseases

Lifestyle diseases are on a rise in the country. A sedentary lifestyle and mostly unhealthy eating habits have somewhat found their way into almost every household across the nation. It is important to keep track in terms of fitness and diet. Yet, it is more important to be prepared financially for any medical emergency. Having a substantial mediclaim policy becomes prudent. *

2. Tackling Medical Inflation

It is of extreme importance to understand the impact of inflation on hospitalization expenses. The costs of treatments are on a rise specifically for any serious or critical ailment. The medical bills can be skyrocketing if the finances are not planned well and create a hole in the pocket. *

3. Insufficient Coverage Under Corporate Policy

In case an individual is insured under a corporate policy, it is merely not enough. With the increasing healthcare expenses and longevity, having a separate mediclaim policy is a smart decision. Being underinsured is as bad as having no insurance. If an individual leaves the job or retires, then the corporate policy also comes to an end. It leaves the individual more prone to risks both in terms of health and finances. *

4. COVID-19

When it comes to financial planning having the right insurance is a recommended instrument. With the ensuing global crisis, the importance of mediclaim insurance is more pronounced. Not having the right family health insurance can leave a person and their family in financial distress and uncertainty does not come with prior notice. * *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.