Mediclaim

An Insight into Mediclaim

Mediclaim is a health insurance policy that takes care of all healthcare expenses in case of any medical emergency. From illness and surgery to accident and unpleasant health concerns, the policy takes care of each and every aspect of hospitalization. A thoughtful Mediclaim can certainly prove to be a blessing as it unblocks the major financial obstacles coming in the way of healthcare solutions. We at Pradip Kothari Financial Services do understand that each penny is hard-earned and hence we ensure to invest your money for the perfect mediclaim so that you can stay healthy throughout without hampering your financial savings.

Type of Mediclaim

There are many different types of Type of Mediclaim with their distinctive set of benefits. Here are the common types available in India:

Individual Plans

This mediclaim policy caters to take care of all healthcare expenses of an individual in case of hospitalization.

Family Floater Plans

This is the best mediclaim policy in India that ensures high-end financial security of the entire family under one single cover. In this scenario, family includes self, spouse, children, and parents.

Senior Citizen Plans

Mediclaim policy for senior citizens caters to meet the medical emergency of any retired person or person nearing the age of retirement. In this case, the insurance starts from the age of 60.

Critical Illness Insurance

Indian community is desperately in need of critical illness insurance because many critical illnesses are taking the human race by storm. The policy covers deadly diseases like cancer, brain tumor, and heart attack.

Benefits of Mediclaim

Affordable healthcare solutions
Eases your way to stress-free recovery
Provides peace of mind with a long term security plan
Gives you the opportunity to make a tax free investment

Some Important Aspect of a Mediclaim Policy

The premium paid for the Mediclaim policy defers from individual to individual and family to family depending upon the Age, Sum Insured, Policy Period, and the Coverage’s.
The entry age group for the Mediclaim policy start from 3 months till 65 years however in some policies the entry age goes up to 80 years.
In some policies the insurance provides overseas medical treatment with some certain conditions attached to it.
For the claim settlement many companies appoint a third party administrator who process your claims, but some company have in-house claim settlement process.
The premium paid in Mediclaim policy is exempted under section 80D of the income tax act 1961 an individual can have deduction up to 25000/- against the premium paid for his own policy and this limit goes up to 30000/- for senior citizens.

Following are the Inclusions and Exclusions in Mediclaim policy

Best Mediclaim policy protects the insured person against a vast range of medical expenses some of the expenses which are covered under such plans are mentioned below

Hospital charges includes all the expenses incurred during the hospitalization stay it consists of Medicine, Oxygen, Operation theatre charges, Nursing staff, X-rays extra

Day Care treatment consists of the expenses pertaining to the advanced medical technology and treatment that don’t require the patient to stay in the hospital for 24 hours the list of day Care treatment can be different from company to company

Pre and post hospitalization charges means, any expenses which is made before and after the hospitalization related to the same treatment the covering period differs from company to company and it range from 30 days pre hospitalization to 90 days post hospitalization. Expenses includes doctor consultation fees, Test reports, Routine Medicine follow-up and checkups

The exclusions in the Mediclaim policy differ from one company to another the expenses which are not covered are