Mediclaim and health insurance are two terms that are frequently mixed up. They are not, however, the same. Purchasing an insurance policy is different from buying a medical claim. You can choose wisely if you understand how these two policies differ. But what distinguishes this insurance from mediclaim? This manual will assist you.
Expenses Before And After Hospitalization:
A medical insurance policy will only pay for inpatient care. To a certain extent, it might cover the treatment of particular illnesses. Contrarily, a health insurance policy has a broader scope. It includes costs related to the diagnosis, doctor visits, and other costs incurred days before and after the hospitalisation. A standard medical insurance policy does not cover these expenses.
A mediclaim does not cover ambulance expenses. In contrast, the majority of health insurance plans permit reimbursement of ambulance costs up to a predetermined amount. These expenses are reimbursed by the insurance company. *
Daycare Procedures And Maternity Benefits
A mediclaim typically pays for hospitalisation expenses for predetermined illnesses. They exclude pregnancy-related expenditures, including cesarean sections and other child-related medical care. As hospitalisation is a requirement for Bajaj Allianz mediclaim, daycare procedures like cataract surgery that don’t require hospitalisation are naturally excluded. These things could be included in a claim for Bajaj Allianz health insurance. *
Cost And Advantages
Due to the mediclaim’s limited coverage, the insurance policy’s cost is also lower than the cost of a health insurance policy. Typically, this only provides coverage up to Rs. 5 lakhs. A health insurance plan, on the other hand, is much more extensive and covers much more. As a result, the sum assured is increased, but the cost of the premium is also increased. ##
Amount Of Claims
If the Sum Assured Limit is not reached, multiple claims may be made throughout the year under a Mediclaim policy. Typically, a health insurance policy allows the insured to submit one claim per year. Claims are subject to terms and conditions set forth under health insurance policy.
There aren’t many differences between Mediclaim and Health Insurance, but an insurance policy offers more protection and coverage when getting claims paid. A mediclaim, however, is also a choice many people make because of how reasonably priced it is. Decide which Mediclaim or Health Insurance will provide your family with the ideal protection based on your ability to pay for it. Choose a mediclaim policy to cover your family if a health insurance plan is out of your price range.
Health insurance and mediclaim policies differ in various aspects. It often offers higher coverage limits and additional benefits such as wellness programs or maternity coverage. On the other hand, mediclaim policies typically focus on reimbursement for hospitalisation expenses only, with limited coverage for pre and post-hospitalization costs. Understanding these distinctions is crucial in selecting the most appropriate coverage for one’s healthcare needs.
Subscribe to Bajaj Allianz General Insurance Youtube Channel here!
* Standard T&C Apply
## All savings are provided by the insurer as per the IRDAI-approved insurance plan. Standard T&C apply.
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.