Questions About Mediclaim Insurance That Are Frequently Asked

Life in the twenty-first century is faster and more stressful than in the previous century. Also, while digitisation has improved business efficiencies and outcomes, it has contributed to an increase in a sedentary lifestyle. As a result, many people are suffering from lifestyle-related ailments. Further, the increasing cost of medical treatments is a cause for concern for most people. In such a landscape, a medical insurance plan is essential to ensure that you can get the best treatment without having to worry about the expenses.

Before you start looking for the best health insurance plan in India for you and your loved ones, it is important to understand the scope and coverage offered by health insurance. There are many myths surrounding these policies, and people have a lot of questions that need answering. Today, we will share some common questions asked by people about medical insurance to help you understand it better.

So, without further ado, here are some important insurance questions and FAQs.

Important Insurance FAQs Answered

  1. What is the difference between a mediclaim policy and a health insurance plan?

Mediclaim and health insurance plans are often used interchangeably by people. While they both offer coverage for medical costs, there is a small difference between them. A Mediclaim policy is a basic policy that offers coverage for medical treatments and hospitalisation costs of pre-specified illnesses and diseases. Usually, they do not offer add-on benefits. On the other hand, a health insurance plan is a comprehensive plan that offers add-on covers to customise the policy as per your needs.

  1. What Can I do if I have made an error while filling out the application form for a mediclaim policy?

Most insurers allow you to change erroneous details offered while filling out the Mediclaim application form. However, this is at the sole discretion of the insurer and might be chargeable in some cases. Further, certain changes can impact the premium of your policy. Make sure that you talk to your insurer before initiating the change.

  1. How can I file a claim after buying a mediclaim policy?

Many insurance providers offer cashless medical insurance plans where you can get the treatment done at a hospital without any out-of-pocket expenses. However, this can be availed of at a network hospital. If you are getting treated at a non-network hospital, then you need to bear the expenses and save all the bills. These bills can be submitted to the insurer later for reimbursement.

  1. Does a mediclaim policy have an expiry date?

Yes. When you purchase a mediclaim policy, the insurer offers coverage for a fixed term by charging the specified premium. Once the term is over, you need to renew the policy to keep it in force.

  1. Does a mediclaim policy cover dental treatment?

The inclusions and exclusions of a mediclaim policy can vary between insurance providers. Hence, it is important to look at the policy documents to understand if it covers dental treatments.

  1. What is a group mediclaim policy?

Many companies offer group mediclaim coverage to their employees. These policies are created based on the requirements of the company. Hence, you need to go through the list of inclusions and exclusions to understand the scope and extent of the coverage offered.

  1. How do I estimate the premium of a mediclaim policy?

Most insurance companies provide online health insurance premium calculators that can help you estimate the premium of a mediclaim policy with ease. These are free calculators that ask for some details before offering an estimate.

  1. Does mediclaim policy offer coverage for Covid-19?

While many insurance companies have started including Covid-19 under the list of medical conditions covered, it is best to talk to the insurer or go through the policy documents to assess the same.

Summing Up

Mediclaim Insurance is designed to help you manage medical emergencies without burning a hole in your pocket. With the rising costs of medical treatments, these policies have become a necessary investment for all individuals. You can also opt for a family mediclaim insurance policy that covers all members of your family under one policy with a large sum insured.