Save tax up to ₹75,000~ u/s 80D
Save tax up to ₹75,000~ u/s 80D
Healthcare expenses are growing daily, making securing economic security for clinical crises crucial. A mediclaim policy helps cover hospitalisation costs, minimising the load on your savings. Here's all you must know before investing in mediclaim health insurance.
Reasons to Choose Care Health Insurance?
A mediclaim policy is a health insurance investment in which the policyholder gets a refund for medical costs incurred during hospitalisation due to diseases, injuries, or accidents. The policy offers economic protection by covering doctor fees, hospital bills, or other related expenses.
Health Insurance Coverage for 32 Critical Illnesses
Cover for Treatment of Cancer at all Stages
Coverage for wide array of defined surgeries
Health Insurance Covering 16 Major Health Aliments
With a mediclaim insurance policy, the policyholder obtains quality healthcare without stressing about expenses. Here are the key benefits the mediclaim policy offers:
Care Super Mediclaim policy comes with four variants-Critical Illness, Cancer, Heart and Operation mediclaim. The key features of this policy include:
| Features | Critical Illness | Heart | Care Cancer | Operation |
|---|---|---|---|---|
| In-Patient Hospitalisation | Upto SI | Upto SI | Upto SI | Upto SI |
| Pre-Hospitalisation and Post-Hospitalisation | 30days / 60days | 30days / 60days | 30days / 60days | 30days / 60days |
| Day Care Treatment | Upto SI | Upto SI | Upto SI | Upto SI |
| Ambulance Cover | Up to Rs 3000 per hospitalisation | Up to Rs 3000 per hospitalisation | Up to Rs 3000 per hospitalisation | Up to Rs 3000 per hospitalisation |
| Alternative Treatments | Upto SI | Upto SI | Upto SI | |
| Annual Health Check-up | Annual from 2nd Policy Year on continuous Coverage | Annual from 2nd Policy Year on continuous Coverage | Annual from 2nd Policy Year on continuous Coverage | Annual from 2nd Policy Year on continuous Coverage |
| No Claims Bonus | Corresponding Increase in SI for 1st, 2nd and 3rd Continuous Claim-Free Policy Years Respectively, Max up to 100% of SI | 50% / 25% / 25%-Corresponding Increase in SI for 1st, 2nd and 3rd Continuous Claim-Free Policy Years Respectively, Max up to 100% of SI | 50%/25%/25%-Corresponding increase in SI for 1st, 2nd and 3rd continuous claim-free Policy Years, respectively, Max up to 100% of SI | 50%/25%/25%-Corresponding increase in SI for 1st,2nd and 3rd continuous claim-free Policy Years, respectively, Max up to 100% of SI |
| Global Coverage | Upto SI | Upto SI | Upto SI | Upto SI |
Disclaimer: The information above is for reference only. Please read the T&C of the policy thoroughly.
Understanding the different types of mediclaim policies in India assists in picking the right one catering to varying requirements. Here are the types:
| Type of Mediclaim Policies | Description |
|---|---|
| Individual Mediclaim Policy | Gives coverage for individual medical expenses |
| Family Floater Mediclaim Policy | Offer coverage for all the family members under one policy and the sum insured |
| Senior Citizen Mediclaim Policy | It is for people who are above 60, covering age-related illnesses or conditions. |
| Group Mediclaim Policy | Offered by the employers to their employees so that they can avail of health benefits |
| Critical Illness Mediclaim Policy | Offer coverage for expensive treatments or serious illnesses like heart issues or cancer. |
A mediclaim policy offers economic solace during clinical crises, including many other coverage options, such as:
Even though the mediclaim policy offers medical expenses or hospitalisation costs coverage, some exclusions are involved, such as:
It is crucial to understand that a mediclaim policy and health insurance serve different purposes and are not the same, as most people confuse them with one another. Here are the key differences:
| Aspect | Mediclaim Policy | Health Insurance Policy |
|---|---|---|
| Definition | Covers clinical expenses like hospitalisation, surgery, etc. | An investment that offers medical expenses, preventative care, outpatient services, coverage, and more. |
| Sum Insured | Offers fixed sum insured usually lower and might not fulfil the medical expense need. | Higher sum insured alternatives are available for exhaustive coverage. |
| Premium | Compared to health insurance, premiums are lower | Premiums are higher due to comprehensive coverage |
| Coverage Scope | Mediclaim policy is restricted to hospitalisation, surgery, and linked expenses. | Gives massive coverage, including critical illness, maternity, outpatient care, hospitalisation, wellness programs, etc. |
| Pre-existing diseases | It involves a waiting period before covering medical expenses for pre-existing diseases | It also includes waiting periods; however, it offers coverage for specific diseases |
| Cashless Facility | Policyholders can avail of the facility at network hospitals | Commonly available across health insurance policies |
| Eligibility | Single person and family members | For individuals, families, and group policies with flexible options |
| Renewability | Renewable for a lifetime with a restricted increase in coverage | Renewable for a lifetime with several options to improve coverage and benefits |
Selecting the proper mediclaim policy needs mindful assessment. Here's what you must consider before deciding on buying mediclaim insurance
Coverage Amount
Make sure the sum insured covers hospitalisation expenses satisfactorily
Premium vs. Benefits
Don't forget to compare the various mediclaim policies to identify the balance between reasonability and coverage.
Waiting Period
Remember to check the waiting for pre-existing illnesses and compare it with other insurers to get a better idea.
Claim Settlement Ratio
Select an insurance service provider that offers a high claim settlement ratio for trouble-free claims.
Network Hospitals
Look for an insurer that also covers the network hospital of your preference.
| Claim Type | Process Types |
|---|---|
| Cashless | Getting admission to a network hospital
|
| Reimbursement |
|
Care Health Insurance offers exhaustive mediclaim policies that guarantee your health is well-secured when needed. It provides flexible and reasonable plans tailored to your healthcare requirements with a customer-centric approach. Here's why Care health insurance is an excellent option for a Mediclaim policy:
Look for hospitals around you
You can buy a mediclaim policy either online or offline. You will have to choose a company first. Your chosen company should be based on premium, cashless network and other benefits. One can also buy a Mediclaim policy by visiting the nearest branch of the chosen insurance provider.
You can port the mediclaim health insurance only at the stage of policy renewal. Intimation for porting is required 45 days before renewal. Inform your last insurer in writing for a porting, mentioning the name of the new insurer. Fill up our portability form with existing insurance details, submit the relevant documents, and make payment for mediclaim health insurance.
Note: NCB will not reduce if the claim amount exceeds 25% of SI under the add-on Care Shield. For details, refer to policy T&C.
Yes, you can modify the sum insured in the mediclaim policy; that shall be permissible only at the time of policy renewal. However, it can affect your premium amount. So, reading through the mediclaim policy details is important to understand better.
No, you cannot add and remove family members in your current mediclaim policy for the family. You can do it only at the time of policy renewal.
Accepting change in DOB is solely Care's discretion and may affect your premium. Therefore, providing the right birth date and other details when purchasing the mediclaim policy is advisable.
You can renew your mediclaim policy online and offline both, within the grace period of 30 days.
The minimum entry age to buy a mediclaim policy is 91 days to 4 years (with at least one insured member of 18 years of age or above) and 5 years on an individual basis, and the maximum entry age has no age bar, with lifelong renewability.
Yes, mediclaims cover accidents as well. However, you need to buy it as an optional benefit. Under this, you will get an additional sum insured for accidental hospitalisation.
Our various mediclaim policies and operation mediclaim cover dental treatment subject to policy terms and conditions.
Mediclaim insurance is recommended for everyone, especially in this age of rising medical inflation and increasing lifestyle diseases. It is a must for those who depend on their corporate health insurance and do not have a separate health cover. Anyone 18 years of age or above can purchase a mediclaim insurance policy for themselves or their loved ones.
Yes, you can buy mediclaim policy online while visiting our official website.
Yes, you will get coverage for alternative treatments like AYUSH.
Our indemnity-based products offer hospitalisation coverage for COVID-19. Do refer to the terms and conditions for more details.
A Cashless Mediclaim is an advantage offered by most healthcare providers. Under a cashless Mediclaim, medical bills are directly settled by the insurance company, provided the total bill amount falls within the assured limit, and the hospital is a network hospital. Thus, it is always important to buy the best cashless mediclaim policy.
As the name suggests, mediclaim policies act as health insurance that covers the risk of hospitalisation expenses if you travel to a foreign country.
The Floater mediclaim policy is a tailor-made plan for families. It is almost similar to individual health insurance, but the only difference is that mediclaim health insurance for families acts as an umbrella to cover your entire family.
Yes, you can port your mediclaim policy. You must approach the insurance provider where you wish to port your existing health insurance policy. The company will hand you documents, including your portability and proposal forms.
Mediclaim is a type of insurance that covers only hospitalisation-related expenses up to the sum insured, whereas Health insurance is a type of insurance that provides comprehensive coverage for medical costs and surgical expenses beyond more than hospitalisation.
In the mediclaim insurance claim process, the policyholder must avail of the coverage under a set of rules. At Care Health Insurance, we follow procedures to settle the claim. For a hassle-free claim settlement, you must inform our customer support team about your hospitalisation within 24 hours of emergency hospitalisation and 48 hours of planned hospitalisation.
Disclaimer : Information above is just for reference. Kindly read T & C of policy thoroughly. Do refer IRDAI guidelines for tax exemption conditions.
~Tax benefit is subject to changes in tax laws. Standard T&C Apply
**Number of Claims Settled as of 31st March 2024
^^Number of Cashless Healthcare Providers till Feb 2025
^10% discount is applicable for a 3-year policy
*Premium calculated for an individual (Age 18) for sum insured 10 Lakhs
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