Basic Mediclaim Details
Life is full of uncertainties: an untoward event can strike an individual anytime, any place. It is for such a reason that individuals need to be prepared and plan their finances better.
This is where a Mediclaim policy comes to an individual's rescue and helps him not only tide over a potential crisis but also protects him from a disproportionate and/or unplanned outflow of his personal finances.
The Mediclaim policy provides for reimbursement of hospitalisation/domiciliary hospitalisation expenses for illness/diseases suffered or accidental injuries sustained during the policy period.
The insurance is available to persons between age of 5 and 80 years. Children between the age of 3 months and 5 years can be covered provided one or both parents are covered concurrently. The Mediclaim protection is available for illness/disease contracted anywhere in the world provided the treatment is availed in India.
Mediclaim policies have a host of added benefits too. Some of these benefits accrue over the policy tenure if an individual keeps renewing his policy. For example, certain insurance companies increase the policy cover by a certain percentage for the individual for every claim-free year.
Points to remember
  1. Look at the number of hospitals covered by your insurance company
  2. Inquire about the add-on benefits, which accrue over a period of time
  3. Ensure that all the details in the application form as well as other policy related documents are true and correct. This will help ensure prompt and timely reimbursements
  4. Understand the policy and its details well. Also ensure that all the documentation is in order to file a claim effectively