Jeevan Arogya Vs Mediclaim: Know The Difference!

Health is a major point of concern for people in these COVID testing times, including yours. As the medical expenses are skyrocketing every passing day, it becomes traumatic not only mentally but also financially if you or any of your family member falls ill. As a responsible person, you need to provide security and comfort to your family. And when we talk about security, insurance is the first thing that crosses our minds.

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When we talk about health insurance, mediclaim automatically pops up. People often get confused between health insurance and mediclaim and think that both of these are the same. Well, they are on some level but there is also a difference between these two.

In this article, you will read all about Jeevan Arogya’s health plan and Mediclaim and understand the difference between these two. It is important to understand the difference so that you can pick out the policy that suits your needs as well as that of your family.

When we think about medical emergencies, we automatically think about having a mediclaim or health insurance. Let us evaluate them better.

What Is Jeevan Aroygya?

When health insurance comes to your mind, LIC’s Jeevan Arogya plan is worth giving a shot. A plan launched by the Life Insurance Corporation of India, Jeevan Arogya is a unique, non-linked health insurance plan. It provides health insurance coverage against specific health risks and offers timely support in case of any medical emergency covered under the plan. This plan helps you and your family to have financial security in difficult times.

What Is A Mediclaim?

Mediclaim insurance is a type of health insurance policy that provides specified financial coverage against health-related expenses at the time of medical emergency. There are 2 types of mediclaims:

  • Cashless: you don’t have to pay anything during the time of emergency from your pocket. The insurance company will take care of your medical expenses.
  • Reimbursement: in this case, you have to pay for the treatment yourself at the time of emergency and later you are reimbursed by your insurance company according to the limit of the policy you procured.

Benefits Of Jeevan Arogya And Mediclaim

Here are some benefits of both Jeevan Arogya and mediclaim that will help you understand the policy.

Benefits
Jeevan Arogya Mediclaim
Financial protection in case of hospitalization, surgery, or any other illness covered in the policy Immediate coverage of medical expenses when hospitalized
Increase of health cover every year In the cashless option, the insurance company directly pays at the hospital
Lump-sum benefits irrespective of actual medical cost In the reimbursement option, you have to pay and it will be reimbursed by the insurance company later
No claim benefit Generally, the sum assured is predecided
Flexible benefit limits as per your choice The plan can be purchased on an individual as well as the family basis
Flexible premium paying options -

Difference Between Jeevan Arogya And Mediclaim

Basis LIC Jeevan Arogya Mediclaim
Offered Coverage Jeevan Arogya plan offers comprehensive coverage against hospitalization charges, pre-hospitalization charges, post-hospitalization charges, ambulance expenses. A mediclaim plan provides coverage only for hospitalization, accident-related treatment, and pre-decided diseases for a pre-specified limit. 
Add on Coverage To enhance the insurance coverage, it offers Hospital cash benefits, Major Surgical Benefits, Day Care Procedure Benefits, Ambulance Benefits, Premium Waiver Benefits, etc. It doesn’t offer any add-on coverage.
Flexibility On the other hand, the Jeevan Arogya plan offers much-needed flexibility. Insurance buyers can reduce their health insurance premium amount after a specified period; they can even change their policy duration. It also offers flexible benefits to choose from and flexible premium paying options. When it comes to coverage, it offers no flexibility. 
Plan Features Generally, the benefits and features of a health insurance plan of a specific sum insured are the same as most insurance providers. Features of a mediclaim plan vary from insurance provider to insurance provider. Generally, different mediclaim insurance companies offer different mediclaim insurance coverage.
Critical Illness Cover It provides critical illness coverage for more than 30 plus critical diseases such as Cataract, slip disk, kidney failure, etc. It does not provide coverage for critical illnesses.
Sum Assured You can choose an amount of Initial Daily Benefit. The Major Surgical Benefit that you will be covered for will be 100 times the Initial Daily Benefit you have chosen. Thus the initial Major Surgical Benefit Sum Assured for Rs. 1000 per day will be Rs. 1,00,000. The sum assured for a medical insurance plan doesn’t exceed 5 Lakh Rupees.
Claims No claim benefit is paid during the period between Date of Commencement of policy and next Automatic Renewal Date or between two Automatic Renewal Dates In the mediclaim plan, a policyholder can file claims until the total amount assured is exhausted.
Hospitalization To avail of health insurance benefits, an insurer does not need to get hospitalized. Benefits like day-care procedure cover can be availed without getting hospitalized. To avail the mediclaim benefits, the insured must get hospitalized.

Finally

Before buying a mediclaim or Jeevan Arogya plan, the first thing you need to do is analyze your expectations with what the policies are offering. Simply put, mediclaim and health insurance are 2 instruments of mitigating health-related risks. Both exist to fulfill the insurance needs of the buyers, so it is up to you what plan you opt for.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
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