Understanding Medical Insurance Plans

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Understanding Medical Insurance Plans


Kirti Saxena

Why one or more medical insurance plans are needed?

In today s scenario, cures for almost all types of diseases on the earth are available. Also, the fact cannot also denied that medical treatment is generally beyond the reach of the common man. So much so that at times it becomes unbearable even for the highly rich, when a huge amount is required to be paid in one go, apart from the fact that accountability towards taxes also comes into the picture.

In view of the above, purchase of a suitable medical insurance policy is must now-a-days. There are very many medical insurance plans.


Overview of mediclaim policies

For persons up to middle class, Mediclaim Policy is the best option. One can buy an affordable Individual Mediclaim Insurance Policy online. It is secure, as it offers to keep your personal particulars completely confidential. You are not supposed to do any paper work. Within 72 hours, you will get the hard copy and in the meantime as many print-outs as needed of all necessary documents. The Mediclaim Policy provides exhaustive coverage of charges towards hospitalization, like room, boarding, specialist, tests, operation, nursing, anesthetist, blood, and other expenditure on artificial limbs, pacemakers etc. Some mediclaim policies offer tax exemptions under Section 80 D of the Income Tax Act, 1961.Upto 5% discount on the premium is allowed for every year as no claim policy for every year vis- -vis single family policy. The premium for group insurance policy is lower than that for an individual insurance policy. Provision for cashless Mediclaim also exists in certain cases applicable on thousands of empanelled hospitals. Family Floater Mediclaim Policy covers the whole family with one insured sum.

Importance of having more than one medical insurance policy

Only one Policy, e.g. Mediclaim Policy as explained above, may not serve full purpose, in today s time, when, in spite of various treatments, the number and types of diseases are also not less, based on the lifestyle particularly. There may be instances when you may have to spend exorbitant sum for certain types of treatment. Therefore, based on your financial status ability you must go in for some specific insurance policies to overcome the uncertain needs of your health requirements in the uncertain future. Insurance companies today provide very many insurance coverage variants at affordable premium rates to suit one. These policies not only take care of your financial requirements, but also include the individual insurance coverage of your family members. In this context, a mention must be made of family floater plans, whereby the entire family is covered under one single policy and scheme.

For more information visit:

Medical Insurance Plans


Mediclaim Policy


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