Health care

Tips for choosing the best mediclaim policy for family

Thanks to our rising pollution and our poor lifestyles today we all have become more prone to various medical emergencies. These emergencies result in hospital admissions the cost of which is something that can be taken lightly. Without proper measures, no individual can bear the mounting hospital expenses. This is because these expenses can take a toll on individual lifetime savings. Thus there is a need for the best mediclaim policy for family as well as individuals.

Mediclaim policy is the shield against various hospital expenses such as doctor’s consultation fees, room rent, daycare treatment, post, and pre-hospital expenses for specified days, etc. The coverage of all these expenses insures that the individual, as well as the family, is well protected against various medical emergencies depending upon the type of mediclaim policy one is buying. Mediclaim policy provides the individual with easy reimbursement as well as cashless hospitalization process so that individual can easily benefit from the mediclaim policy.

There are various types of mediclaim policy that individuals can avail themselves of. The major two types of mediclaim policy are individual and family mediclaim policy. Under individual mediclaim policy only the individual is insured against the medical emergencies and thus if an individual chooses this policy for them and their family, then they are required to pay separate policies for each insured. On the other hand, the mediclaim policy for family covers the individual as well as a family including spouse and dependent children under the same policy. Thus with one is required to pay a single premium to ensure the protection of them and their family. However one must remember that any member can claim under this policy only up to the amount insured. Thus one and their family need to choose wisely.

There are has been an increase in the popularity of family mediclaim insurance policy as it offers various benefits to the individual as well as the family. The biggest benefit being the stressful hospitalization. With the mediclaim policy for family, the individual is not burdened with different premiums for a different family member. The stress of keeping with the monthly or quarterly payment of different premiums is together is eliminated with the mediclaim policy for the family. It is like umbrella coverage for every family medical emergency. Besides this, the family mediclaim insurance policy also makes it easier to add a new member at the time of the renewal. The individual needs to notify and inform about the inclusion of members in the existing mediclaim policy for the family and thus the insurance company will take care of it. All the paperwork and efforts involved in buying a new policy for a new member is no longer required all thanks to the mediclaim policy for family. Further by availing of this policy, the individual can also avail the tax deductions under section 80D.

Thus mediclaim insurance policy for a family provides various benefits to the individual. However to enjoy these benefits one must buy the right mediclaim policy. Some of the tips to make an informed decision are mentioned below:

  • The first thing before buying the mediclaim policy is to know about the insurance company one is engaging with. Search about their history, managers to know about their working. Besides this, one can also check the customer reviews so to be ensured that the insurance company delivers what they promise.
  • Healthcare expenses are on the rise and this is something that will remain such in the future too. Thus it is important to choose the mediclaim policy for a family with high coverage so that there is no issue faced when any medical emergency arises. Sufficient coverage must be provided by the right mediclaim insurance policy. The average mediclaim policy for the family should not be less than 4 lakh and thus one must ensure that the insurance company is providing at least such amount insured
  • Another thing that one must look into before buying the mediclaim policy is the co-pay clause. Under this clause, the individual has to pay a certain amount of medical expenses out of their pocket and the rest is reimbursed by the insurance company. It is advisable to choose the mediclaim insurance policy for the family with zero or minimal co-pay clause.
  • The reputation of an insurance company also plays an important factor in ensuring that one buys the right mediclaim policy for family. This can be evaluated by the claim settlement ratio of the company and thus one must pay close attention to it.
  • The biggest reason for choosing the mediclaim policy is that it provides the individual with the benefit of cashless hospital procedures at its network hospitals. Thus one must research what and how many hospitals are tied with the insurance company so that this benefit can be availed.

Hence these are tips that one must before buying the mediclaim policy for the family from the right insurance company such as Care Insurance. Care insurance with their best service ensures that customer faces no issues in buying as well as claiming the policy in times of medical emergencies. For more information read at Tech Daily Magazines

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