MEDICAL INSURANCE POLICY
How to combat during health crisis with right medical cover? Medical insurance policy is a contract between the insurer and the policy holder wherein the policy holder pays a fixed sum towards his or her insurance policy and the insurer in return promises to bear the money spent by the policy holder during hospitalization. While opting for a medical insurance cover you receive a reimbursement for the hospitalization charges that have been incurred and the medical or surgery that you or your family member has been gone through for the disease that was covered.
Some policies also have cashless treatment wherein you don’t pay a single penny to the hospital as your hospitalization bills are covered under the policy. It not only helps you during such financial crisis but also keep your integrity intact as you don’t have borrowed loans or money from relative or friends for medical crisis.
The policy could be purchased to anyone who falls under the age slab of 5 to 75 years under your name. However, infants and children below the age of 5 years are also entitle to hold a mediclaim policy but that come in joint names along with their guardian.
Due to hundreds of policies being offered by medical insurance companies often it becomes a daunting task to choose the best medical insurance policy for an individual. Also, group policies have a limited cover and don’t cover to individual specific needs; therefore, one should focus upon buying individual medical plan. Here are few checks that could be done while buying medical plan:
•Make sure the plan you purchase covers hospitalization as well as expenses incurred on medical test, surgeries, doctor fees, ambulance, etc. •It has tax exemption under Sec 80D of the income tax act •You have expenses covered for room, nursing expenses, oxygen, surgical appliances, chemotherapy, X-rays, dialysis, medicines and drugs, cost of pacemaker, cost of organs, artificial limbs etc •Look for additional benefits like Top Up and Super Top Up plans on your medical insurance policy
Insurance companies bring customized solution to suit your requirement. Keeping an eye over varied healthcare needs of people, they come up with customer friendly plans. There are tailor made plans that can easily fit into your frame of healthcare needs. The policies are formulated at affordable medical insurance policy premium. Some provision lifelong renewal, so you can enjoy healthcare assistance for whole life.
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