Health & General Insurance

Medical insurance, also commonly known as health insurance, is a type of coverage that provides financial protection for individuals or groups against the high costs of medical expenses. It helps individuals manage the financial burden of healthcare by covering a portion or the entirety of eligible medical expenses, including hospitalization, doctor visits, prescription medications, and other healthcare services.

Importance of Medical Insurance!

High and often unexpected costs of medical care. - One of the primary reasons for having medical insurance is to protect individuals and families from the high and often unexpected costs of medical care. In the absence of insurance, individuals may face significant out-of-pocket expenses for hospitalization, surgeries, prescription medications, and other healthcare services.

Quality Healthcare - Medical insurance usually civers preventive care, diagnostic tests, specialist consultations, and emergency services cost. Insured individuals are more likely to seek timely medical attention, promoting overall health and well-being.

Timely and Appropriate Treatment - With medical insurance, individuals are more likely to seek medical care when needed, rather than delaying or avoiding treatment due to financial concerns. Timely access to medical care contributes to better health outcomes and may prevent the progression of illnesses.

Prescription Medication Coverage - Many health insurance plans include coverage for prescription medications. This helps individuals afford necessary drugs for chronic conditions, acute illnesses, and preventive measures. Prescription drug coverage contributes to medication adherence and overall health management.

Peace of Mind - Medical insurance provides peace of mind, Knowing that our loved ones and we as an individual have financial protection and access to healthcare when needed. This peace of mind allows individuals to focus on their health and well-being without constant worry about potential medical expenses.

FAQS

Answers to common Questions

Yes, many health insurance policies in India have an upper age limit for purchasing new policies. The maximum entry age can vary between insurance companies and policies. However, it's common for insurers to limit the entry age to mitigate the risk associated with providing coverage to individuals at higher ages. Normally it depends upom Maximum Entry Age, Age Limits for Renewal, Senior Citizen, Pre-existing Conditions etc.

Here are the common basics covered in a standard mediclaim policy:
  • Pre and Post-Hospitalization Expenses
  • Day Care Procedures
  • Ambulance Charges
  • Preventive Healthcare
  • Maternity Coverage
  • Organ Donor Expenses
  • Critical Illness Coverage
  • Room Rent and Boarding Expenses
  • Surgical Expenses
  • ICU Expenses

Yes, In many cases, mediclaim policies (medical insurance) do cover preplanned or elective surgeries, but there are certain conditions and considerations that you should be aware of:
  • Pre-Existing Waiting Period
  • Pre-Authorization Requirement
  • Policy Terms and Conditions
  • Sum Insured
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