Domestic or regular health insurance in India is also popularly known as mediclaim policy. The mediclaim policy coverage is most useful when a person is in a medical emergency and gets hospitalized for more than 24 hours. The reason for hospitalization can be for an illness, injury or accident. Mediclaim insurance coverage assures quality health care access for the insured when the insurance company bears the medical expenses. There are different types of coverage offered under Mediclaim with maximum sum varying from Rs 1 Lakhs to Rs 50 Lakhs. Many mediclaim insurance policies are available online for quote comparison and purchase.
Types of Mediclaim Insurance
Individual and Family Floater
These are the most popular type of coverage under mediclaim and many insurers have attractive benefits and premium cost offers. The coverage under Individual and family floater has its own advantages. Individual mediclaim insurance covers separately and hence the chance of exhausting fully the complete benefits is minimal. Family floater mediclaim is where you pay a single premium amount to get coverage for all the members in your family and it becomes cheaper.
Bigger or extended family mediclaim coverage
A typical family floater mediclaim insurance coverage will cover for parents and children and not other relatives under single plan. There are insurance companies who have designed bigger family mediclaim insurance which can cover for more relationships. Some of the plans can also cover your extended families.
Points to be noted
Medical tests while buying:
Medical check up before buying mediclaim is required beyond a certain age and coverage. The medical tests are waived for people below the 45 years and requiring lower coverage amount. However, it is good to have a medical tests to know health problems (if any) else the insurer can get it done and determine it as pre existing. During the claims it should not be a problem for the policy holder.
Types of Medical tests:
Some of the medical tests that are asked by insurance companies in India are complete blood count, fasting blood sugar, ESR, ECG, SGPT... Physicians are doctors are authorized to conduct medical tests. Usually the cost of medical tests is shared by the applicant and the insurance companies.
Coverage and special feature:
The mediclaim insurance industry is competitive and every company is launching new product or upgrading their existing plans with new features or coverage. There are few mediclaim insurance plans that offer comprehensive coverage and others could call it an add on feature.
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OPD: The OPD coverage is referred to out patient treatment availed by the patient only in the case of hospitalization or day care procedures. Some insurers also provide cover for a visit to a doctor even for minor infections or health problems.
Ayurvedic coverage: This is also known as Non Allopathic coverage by insurance companies and it can be for Ayurvedic or Homeopathic treatment.
Restoration: In case of the exhaustion of a policy in the year, the insurance company will give this special feature called as restoration. However, the insured must be aware of a clause where there is no coverage for the illness for which the original cover was exhausted using the new cover amount.
No Claim Bonus: The insured is entitled for no claim bonus if there is no claim on the policy. The features under this can be dependent on the insuance company. Some would increase the coverage amount while others could give discounts on the premium amount.
Annual health check up: There can be a free medical check up under many mediclaim policies at designated medical centers after few years of continuous renewal.
Renewal of the policy:Most Mediclaim insurance plans in India have lifelong renewal option.