An Insight on Mediclaim Policy
Mediclaim Policy in India is slowly but effectively penetrating all sectors and classes of the Indian society and this is completely owing to the ever-increasing medical and hospitalization charges.
A sudden sickness that might need hospitalization can make your go bankrupt if you are not covered suitably by a mediclaim insurance policy. The mediclaim insurance can either reimburse your hospitalization and medical expenses or can directly pay them on your behalf. Along with individual mediclaim policy, family mediclaim policy is also available in the Indian Health Insurance Market.
It is a common behavior among employed people to avoid taking a mediclaim policy if their employer is already providing one on their name. But it is important to realize that a company provided mediclaim insurance policy has certain limitations. For instance, these health insurance policies not necessarily always cover your family members along with yourself or may cover only one of them. Also, these policies are not portable and cannot be transferred when you switch jobs or cannot be continued after your retirement. It covers you only till the time you are employed with the company but mostly you start using the benefits your health insurance policy only after retirement as you slowly approach the old age. Moreover, getting a mediclaim policy after the age of sixty that covers pre-existing diseases becomes very difficult. This is the reason why you should always take up a mediclaim insurance policy even if your employer is paying for one.
There are a few factors to be kept in mind before buying a mediclaim policy. You must be well aware of your health conditions and also about any existing disease that you have as these details have to be declared to the insurer white taking the mediclaim insurance policy. If it is not declared at the inception of the policy, then those diseases will not be covered by the policy when required. Also, the waiting period before you get the benefits for critical or pre-exiting illnesses differ from insurer to insurer and according to the disease. It's important that you check the waiting time for all the policies and compare them to find the most suitable one. Besides, you also need to compare the premiums for different policies to get the best mediclaim policy at the most affordable price. For such comparison of premiums, coverages and benefits, you can always resort to online aggregators like www.policybachat.com which helps you find mediclaim policy quotes from various insurers under one roof.
There is no defined age to get the best mediclaim policy, however it is always wise to insure your and your family's health once you are young and employed. Lesser your age while buying the medical insurance, lower is the premium you need to pay. You tend to get better benefits and coverage for larger number of diseases if you buy a mediclaim policy for you and your family at a younger age.
So, it's better you stop thinking and act now. Get your queries clarified by insurance experts at 1800 123 4006 / 1800 123 4003 and get the best mediclaim policy today.