How Unlimited Automatic Recharge in Mediclaim Is Helpful
Published On Nov 28, 2020, Updated On Jan 04, 2022
Mediclaim policy, usually referred to as Mediclaim, is a type of health insurance plan which protects the huge amount of expenses incurred by a patient during hospitalization. Mediclaim takes care of all the hospitalization costs in case of pre-planned hospitalizations and emergency hospitalizations due to accidents or illness. Mediclaim is a form of health insurance that is only applicable in case of hospitalization. It does not include pre-hospitalisation and post-hospitalization expenses.
Mediclaim gets rid of all risks of payment during hospitalization and avoids out of pocket payment of the patient and the process of getting loans from others to take care of the hospital expenses. It is widely used and is a popular option for predetermined hospitalizations. Consumers can obtain Mediclaim insurance by paying a monthly premium as dictated by the rules of the policy.
What is the Automatic Recharge Facility?
Automatic recharge is a special feature under Mediclaim which allows the reinstatement of the sum insured under the policy in the same year if the claim made by the insured individual is verified as payable under the policy. Unlimited automatic recharge refers to the extension of automatic recharge. It is automatic recharge but with an added feature that is that it can be recharged an unlimited number of times in the same year as compared to automatic recharge which can be done only once in the same year. Unlimited automatic recharge operates under the same rules and regulations as automatic recharge, but except for the number of times, it can be recharged. It is regarded as a relief that is provided to patients who have varying health conditions.
Points to Keep in Mind in Unlimited Automatic Recharge
Unlimited automatic recharge in Mediclaim is a good policy, but as with all policies, there are some factors to be known before the purchase of the policy:
- Automatic claims are applicable only to future claims and are not applicable for claims that would have already been covered.
- The amount that can be recharge depends upon the amount paid as a premium in that particular year.
- The claims would only be valid if it is allowed under the policy
- The claims are only applicable to cases where there would be pre-planned or emergency hospitalizations.
Benefits of the Unlimited Automatic Recharge in Mediclaim Policy
The benefits of choosing a policy with unlimited automatic recharge are:
- The plan would take care of the hospitalization expenses
- According to the particular of the plan, family members of the policyholder would also be able to utilize this feature.
- The patient would not have to worry about the number of times he or his family members might be hospitalized in a monetary aspect as the policy has an automatic recharge policy which is perfect for situations like these, where there might be multiple hospitalizations in the same year.
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Unlimited Automatic recharge in Mediclaim is extremely useful as it ensures that the policyholder or the patient does not have to worry about taking out loans to pay the hospital expenses or be stressed about repaying the loans, instead it takes care of the medical expenses. The benefit is that the policy would be immediately recharged so that it would be available for use again by the consumer.
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.