Health Insurance- Best Mediclaim Policy

Health insurance is medical insurance offered by Life insurance Corporation to help an individual to deal with medical expenses. Health insurance policy covers the entire family. It is the type of medical insurance that covers individual’s medical and surgical expenses. The main focus of this policy is that new members of the family, in case of marriage or new childbirth are also covered in the term of the policy. The benefit of health insurance policy is that it ensures that you and your family are covered by medical suspicious.

Health insurance is also known as the insured pays the fixed sum every year for the health cover. In case of any health related problem or any surgery, hospitalization, the insurance is reimbursed by the health insurance company either directly or in the mode of cash or indirect payment to the hospital. Health issues can come anytime, and medical treatment cost is very high so you should have a health insurance. Increase in medical treatment is higher than a general increase in other categories like food and clothing, medical inflation is often higher.

Health insurance benefits

•    Access to complete health cover- This health insurance covers the three different categories which are: - Daily hospital, cash benefit, surgical benefit and critical illness benefit. You can choose any one option as per your need.

•    Daily hospital cash benefit- Hospitalization benefit is available for non- ICU and 10 days for ICU rooms. In that, you can get cash benefit of 60 days for non- ICU rooms and 30 days for ICU rooms.

•    Critical illness benefit- Under this policy there are 18 diseases which covered by health insurance. Like, cancer, kidney failure, heart attack, stroke, and so on.

•    Surgical benefit- There are 138 surgeries covered under this policy. They include major once like liver transplantation, bone marrow transplantation, bypass via open thoracotomy and so on.

•    Protection from well-defined benefit- Under the serious illness benefit, 100% is paid a lump sum amount of any 18 diseases. Under this benefit scheme, the 138 specified surgeries are covered under 4 categories lump sum benefit of 20%, 40 % 60% and 100% of the sum assured depending upon the category of the surgery.

Key features of Health insurance

1.    Critical illness covers discount on premium if sum assured exceeds a particular limit of 10 lakh for instance.

2.    After a specified period, the premium flexibility reduces.

3.    Flexibility to reduce policy term after a specified period.

4.    Health insurance premium provides tax exemption under section 80 D of income tax act 1961.

Mediclaim

Mediclaim covers hospitalization and treatment towards accident and specified illness for a specific sum assured limit. The amount paid towards mediclaim for self/ spouse/ children provides tax exemption under section 80 D maximum exemption 15000 on premium and for senior citizens; it is exempted up to 20,000. Mediclaim must be taken for a tax benefit, else it generates into tax saving investment rather than a lifeline for your family.

It is said that your health is your wealth and with the same belief, we make it our mission to ensure that your health is never compromised. That’s why we offer you a flexible plan to protect your health.
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“Health shall never come second with the Life Insurance Corporation by your side”.