Why Should You Buy a Mediclaim Policy?
It is quite common for everyone to be worried about the health of their families. Thus, we should always try to secure ourselves financially to be able to afford quality medical treatment during any emergencies.
Therefore, keeping in mind the increasing rates of medical inflation, it is crucial to buy a health insurance policy. Considering how unpredictable life can be, having a suitable mediclaim plan gives us a sense of contentment and helps us maintain our financial stability.
Scroll down to learn more about why you should purchase a mediclaim policy.
What is a Mediclaim Policy?
A mediclaim is a medical insurance policy that provides you with financial assistance, allowing you to cover all your medical costs, without leaving you with any financial burden. It also offers cashless facilities through which your claim will be covered by the insurance provider directly with the hospital.
You need to make monthly premium payments for Mediclaim insurance policies like any other health insurance policy. It offers you coverage for medical expenses like ICU charges, hospital room charges, ambulance costs, and other charges related to hospitalisation.
Thus make sure to go for a suitable mediclaim plan, through which you can avail several benefits including coverage for pre-existing diseases, cashless procedures, flexibility in renewability, reimbursement etc.
What are the Benefits of Purchasing a Mediclaim Policy?
There are several benefits of purchasing a mediclaim policy, some of which have been listed below:
● Cashless Settlement
Through a mediclaim plan, you can have access to cashless treatment. During such a scenario, hospital bills and other medical expenses shall be settled by the insured provider with the hospital directly.
● Wide Choices of Policies
You can get a wide range of choices when it comes to selecting a suitable healthcare plan that aligns with your healthcare requirements perfectly.
● Tax Benefit
You can also get a tax benefit under Section 80D of the Income Tax Act through which you can save up to a certain amount of your total taxable income.
● Financial Protection
Having a mediclaim policy is no less than a sense of security. Such financial protection lets you stay calm and handle medical emergencies wisely.
How to Select the Right Mediclaim Plan?
In order to select the right mediclaim plan, there are certain factors that you need to consider. These include the following:
● Assess Your Needs
The key to selecting the perfect mediclaim plan for you is to evaluate your healthcare requirements. Once you are assured about what you need and how much you can afford, you can land onto the right one for you.
● Network of Hospitals
You need to consider how wide the network of hospitals your insurance provider can offer. The wider the network is the better since the chances of receiving treatment get higher.
● Waiting Periods
Waiting period is the time up to when you need to wait in order to receive the coverage you have applied for. You must go for the ones with a minimum waiting period.
● Coverage
You need to check the coverage the company provides you and then buy a mediclaim policy. It is better to buy the ones with coverage for a higher number of treatments.
● Premiums
It is desirable to purchase mediclaim policies based on your budget. Thus check the monthly premiums to ensure if it aligns with your budget.
How to Purchase a Mediclaim Plan Online?
Once you ensure your healthcare requirements and have done adequate research about the insurance provider, you can follow the below process to proceed ahead and purchase a mediclaim plan online:
Step 1: Visit the official website of the insurance provider from whom you intend to buy the policy.
Step 2: Navigate to the buy mediclaim plan policy.
Step 3: Fill in the required details which include your name, gender, age, email address etc.
Step 4: Customise the coverage you would like to receive based on your healthcare requirements.
Step 5: Preview the coverage and premium plan then proceed to pay. Make the payment and the coverage of the policy will begin.
Please note that the procedure as mentioned above is a general one and may differ among varied insurance providers. Hence, you must inquire about the process of application by connecting with the insurance company through their email or contact number provided on their official website.
The Bottom Line
To conclude, a mediclaim policy is no more a privilege but indeed a need considering the increasing costs of medical treatments in the present times. It not only provides you with financial coverage but also a peace of mind when it comes to maintaining financial stability during medical emergencies. So make sure to research the insurance provider and the mediclaim plan to have an informed approach for purchasing one.
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