Health Insurance or Mediclaim as commonly know refers to protection that is provided to a policyholder as a cover against unexpected medical emergencies. Today there are over 200 Health Insurance Plans available to a consumer. With each of these Health Insurance Plans having their own unique USP, but they all can be differentiated on the bass of 8 broad categories.
a. Waiting Period & Duration before Pre-Existing diseases are covered in the Policy
b. Lifelong Coverage
c. Type of Health Insurance
d. Extra Coverage's of Critical Illnesses
e. Presence of Maternity coverage's for females
f. Day Care treatments covered
g. Product Premium
h. Co - Payment options
Though these may not be all the parameters you can compare all Health Insurance Plans on, but they surely help in narrowing search for the best suited health insurance plan.
What is Health Insurance?
The term health insurance (popularly known as Medical Insurance or Mediclaim) is a type of insurance that covers your medical expenses. Health insurance comes in handy in case of severe emergencies. Health Insurance provides a financial coverage for medical and hospitalization expenses, in case of an illness/disease or accident.
Health insurance provides for medical expenses to the insured in case of hospitalization for more than 24 hours caused due to illness or accident. Health insurance covers Medicare needed by individual or family for surgeries, nursing care, consultation fees, diagnostic tests, hospital accommodation et al. Health insurance also pays for regular checkups. The insured in return pays a specified amount called premium on an annual or biennial basis.
Why Health Insurance?
Health insurance comes with dual benefits where you get a health cover as well as save on tax under section 80(D). With increasing risk of medical emergencies due to modern lifestyle patterns and exorbitant medical expenses, health insurance is important so that you do not compromise on a good medical treatment. Health Insurance provides protection to your family and yourself with hospitalization in best hospitals along with best medical facilities. Good medical treatment is necessary for fast recovery. This is why everyone needs health insurance.
How much cover do I need?
Your age, lifestyle pattern, city of residence and annual income are vital parameters that help to determine the appropriate coverage required for you.
Generally documents required are age proof, address proof and identity proof. Specific documents may be required in case the person needs to undergo medical tests. This can be checked on the Price quotes page.
Type of Health Insurance
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