Health Insurance vs. Mediclaim - Differences Simplified

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Health Insurance vs. Mediclaim
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Confused About Health and Mediclaim Insurance?

• Both mediclaim and health insurance terms are
  quite frequently used interchangeably in India
  when we talk about health, insurance, medical
  insurance, mediclaim etc.

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Health Insurance vs Mediclaim
In India, the vast health insurance industry has various key players in the market that offer different mediclaim or health insurance plans.
Did you ever wonder are these terms any way different from one another? If you did but failed to find those differences very thin line of differences, though then you must not miss the following points.


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Health Insurance Mediclaim
Health insurance covers medical expenses, pre and post hospitalization expenses, doctor consultation fee, reimbursement for expenses, ambulance charges and more. Mediclaim insurance covers expenses related to hospitalization, including pre and post hospitalization.
You can file a claim even if you were not hospitalized. Like in case you are diagnosed with a critical illness, you can file a claim. You can only file a claim if you were hospitalized. Simply put, you must have a valid proof of hospitalization in order to file a claim.
Coverage offered by health insurance is large and can go up to Rs. 60, 00,000. Coverage offered by a mediclaim policy is limited and generally does not exceed Rs. 5, 00,000.

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Health Insurance Mediclaim
Health plans include multiple rider options like personal accident rider, critical illness rider etc. The benefits of these covers accumulate a sum assured and there are no benefits to reimburse the losses. Mediclaim policy provides reimbursement for expenses incurred for availing treatment at the hospital. The losses are reimbursed by the insurer as per the policy.
In health insurance plans, the sum assured is paid to the insured for the treatment of a critical illness, personal accident, or any accidental disability. In case of medical policy, you can make multiple claims over the policy period until the sum assured is exhausted and you policy does not allow you to file any further claim.
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Health Insurance Vs Mediclaim

It has been observed that people often get confused between both the terms health insurance that belongs to the category of general insurance and mediclaim that belongs to critical illness category. The interchangeable use of these terms in Indian market does not mean the change is always correct. This is because both these policies complement each other and you should have both purchased in your name.
Your mediclaim policy covers your medical bills and hospitalization expenses but what about the loss of income arising out of a long-term injury. The same also applies if the injury leads to permanent disability. Thus, buying both the policies is recommended.
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For More Information About Mediclaim Insurance
Visit URL http//www.policybazaar.com/health-i
nsurance/mediclaim-insurance/