Question 1

How does a cashless mediclaim policy help me?

Accepted Answer

Cashless mediclaim helps you deal with medical emergencies by paying for your hospital bills. In a cashless mediclaim policy, all the medical bills are directly settled by the insurance company provided the amount falls within the sum insured limit. This leaves the insured tension free.

Question 2

Can I avail of cashless treatment in any hospital?

Accepted Answer

Every insurance company has tie-ups with hospitals that are known as network hospitals. You can avail cashless treatment only at the network hospitals. If you are hospitalised in a non-network hospital, then you will be required to pay the hospital bill out of your own pocket and later file a reimbursement claim to the insurer.

Question 3

What all factors are responsible for affecting premiums paid towards cashless mediclaim policy?

Accepted Answer

Premiums paid towards cashless Mediclaim insurance are dependent upon several factors. Given below is the list of some major factors that can possibly affect the premium paid towards your cashless mediclaim policy:       Pre-existing health conditions    Age    Self-destructive habits like drug abuse and alcohol    Medical history of family    Profession    Marital Status, and others

Question 4

What is the meaning of ‘free-look period’ in cashless mediclaim policy?

Accepted Answer

A free look period is the time period given to the new policy buyers under a cashless Mediclaim policy in order to understand and agree with the terms and conditions mentioned in the policy document. In case, they disagree with some terms and conditions mentioned in the policy, then they can terminate it without requiring to pay any penalties. Generally, most of the cashless Mediclaim policy comes with a free look period of 15 days within this duration, a policyholder can cancel the policy if they disagree without any fines or penalties. However, it is important to mention the reason for cancellation of the insurance policy.

Question 5

Are there any tax benefits available under the cashless Mediclaim policy?

Accepted Answer

Yes, as per the section 80D of the Income Tax Act, premiums that are paid towards cashless Mediclaim policy can be claimed as tax deductions. Premiums paid towards the insurance plans that offer coverage to self, spouse, children and parents are eligible for availing tax deductions.

Question 6

Why should I buy a mediclaim plan?

Accepted Answer

A mediclaim policy provides financial support to the insured person in case he/she needs to be hospitalized for medical treatment that may be required to an accident or pre-defined disease.  During any medical emergency, a cashless mediclaim policy acts as a blessing as it provides complete financial security and peace of mind.

Question 7

What all is covered under a mediclaim plan?

Accepted Answer

Following are the features that covered under a mediclaim plan-  Room rental for a medical facility for  both a standard ward or ICU. Expense charged by specialist, specialists, and other clinical experts associated with the treatment. Direct fees charged during hospitalization

Question 8

What are the features of a mediclaim plan?

Accepted Answer

Following are the features of a mediclaim plan-  A mediclaim policy covers hospitalization and medical treatment costs incurred due to an accident or pre-defined disease, to the plan's assurance.  Under a mediclaim you can include family members You can file a cashless claim under a mediclaim policy by getting medical treatment at a network hospital.

Question 9

Does mediclaim policy cover Coronavirus?

Accepted Answer

Yes, mediclaim policy covers CoronaVirus. Medical expenses will be covered by all standard health insurance policies if you are hospitalized for a minimum of 24 hours for Covid-19 treatment.

Question 10

What are network hospitals under a mediclaim plan?

Accepted Answer

A network hospital under a mediclaim plan is one that has an agreement with an insurance company that provides cashless treatment to the insured. If you receive treatment in a network hospital, your insurance provider will cover your hospitalization expenses.

Question 11

How to purchase a mediclaim plan in India 2022?

Accepted Answer

You can purchase a mediclaim plan online and offline from the insurance provider of your choice. You can visit the insurance company&rsquo;s branch office to purchase the mediclaim policy. You can also choose to purchase the online from the insurance company&rsquo;s website.

Question 12

Can I purchase a mediclaim policy online?

Accepted Answer

You must buy a mediclaim plan online because of the following reasons: Safe and secure payment methods, with no chance of fraud.  The convenience of seeing and comparing the top-rated medical insurance plans from the comfort of your own home in just a few clicks. Premium payments can be made using a variety of methods, including debit card, credit card, and net banking. Mediclaim plan customization is simple and premiums are calculated instantly. Digital documents are used thus no paperwork is involved.

Question 13

Does mediclaim policy provide tax benefits?

Accepted Answer

You can save taxes under a Mediclaim plan in the following ways: A policyholder is eligible for a tax credit of up to Rs. 75,000 under section 80 D of the Income Tax Act. For each financial year, a mediclaim plan for parents can provide an additional tax deduction of up to Rs. 25,000. According to section 80D of the Income Tax Act, you can also claim tax benefits for your basic medical health check ups once a year. It can cost as much as Rs. 5,000 every year. Purchasing a Mediclaim plan will allow you to gain a tax deduction of up to Rs. 25,000 on the premium paid towards your Mediclaim plan during each budgetary year.

Question 14

What are the types of cashless mediclaim policy?

Accepted Answer

You can choose any of the following types of cashless mediclaim policy as per your requirements: 1. Senior Citizen Mediclaim Policy 2. Individual Mediclaim Plan 3. Critical Illness Plans 4. Personal Accident Plans 5. Hospital Daily Cash Benefit Policy

Question 15

Are add-on covers available under mediclaim policy?

Accepted Answer

No, add on covers are not available under a mediclaim policy.

Question 16

What are the exclusions of a mediclaim policy?

Accepted Answer

Following are the exclusions of a mediclaim policy-  It does not cover childbirth complications,suicide injuries, HIV AIDS and any healthcare problem diagnosed within 30 days of policy insurance. Dental and Vision Maternity Alternative Medicine Sports Mental Health Outpatient Prescriptions

Question 17

How to make reimbursement for the mediclaim process for mediclaim plan?

Accepted Answer

In order to make a reimbursement claim,you must inform your insurance provider of your hospitalization. This can be done via email or by calling the customer service number provided by your insurance carrier. After you have received treatment, collect all the relevant documents from the hospital. Along with the expenses, do not forget to include a claim form and a discharge card. The insurance company would then verify the claim. The insurer would reimburse the amount after the approval was issued.

Question 18

What is the maximum sum assured for mediclaim policy?

Accepted Answer

The minimum sum covered for mediclaim policy is Rs. 1 lakh, with a maximum limit of Rs. 5 lakh. Within these limits, the policyholder may choose any Sum Insured in multiples of 50,000.

Question 19

How does cashless mediclaim policy work?

Accepted Answer

In case of a medical emergency the insured person requires to be hospitalized for the treatment, the mediclaim policy will provide financial aid to fulfil the hospitalisation expenses.

Question 20

What is the maximum number of claims allowed under mediclaim policy?

Accepted Answer

There is no defined number of minimum and maximum claims allowed for the policy. However, the insured person can make claims for up to the sum assured of the mediclaim policy.

Question 21

Can I cancel my mediclaim policy and if yes will I get my premium back?

Accepted Answer

Yes, you can cancel your mediclaim policy and get a refund, you will get a refund only if you have made no claims during the policy year. You can cancel your mediclaim policy anytime.

Question 22

How to port a mediclaim policy?

Accepted Answer

To port your mediclaim policy, you need to inform your insurance company about the same and follow the instructed process. The portability process may differ from one insurance provider to another.

Question 23

How to get a mediclaim policy?

Accepted Answer

You can purchase a mediclaim policy online and by visiting the nearest branch office of your preferred insurance provider. You can visit the official website of your preferred insurance provider and purchase the mediclaim. You can also purchase a mediclaim policy from InsuranceDekho.

Question 24

How to calculate mediclaim policy premium?

Accepted Answer

The premium for your mediclaim policy is calculated on the basis of a number of factors including the plan chosen, the sum assured opted, your medical history, tenure of the plan, etc.

Question 25

How to choose the right mediclaim policy?

Accepted Answer

There are a few factors that can help you choose the right mediclaim policy, these factors are number of network hospitals, availability of shorter waiting period, coverage for daycare treatments, no co-payment clause, availability of lifelong renewability. Consider these mentioned factors to choose the right mediclaim policy.

Question 26

What is the mediclaim policy for employees?

Accepted Answer

Mediclaim policy for employees refer to group/corporate health insurance policy availed by an organization or company to provide health insurance benefits to its employees.

Question 27

What is a group mediclaim policy?

Accepted Answer

Under a group mediclaim policy an employer will provide mediclaim coverage to its employees and will add benefits to their remuneration such as the benefits of cashless hospitalization or the reimbursement on hospitalization expenses.

Question 28

What is overseas mediclaim policy?

Accepted Answer

An overseas mediclaim policy provides coverage against the risk of being hospitalized and its expenses in a foreign country. This type of mediclaim policy covers medical expenses incurred for the hospitalization while the insured person is outside of India. It covers both inpatient and outpatient expenses.

Question 29

What is the eligibility criteria to purchase a mediclaim policy in India ?

Accepted Answer

An individual between the age of 18 to 65 years can purchase a mediclaim policy in India.

Question 30

What do I need to do after I get hospitalized?

Accepted Answer

Once you have been hospitalized you must immediately inform your insurance provider so the reimbursement claim or cashless treatment can be initiated at the correct time.

Feature	Mediclaim Policy	Health Insurance
Meaning	Mediclaim policy provides coverage for medical expenses and hospitalization only	Health insurance provides coverage for medical expenses such as daily allowance, ambulance charges, etc.
Coverage	The scope of coverage is narrow, covering hospitalization expenses arising out an illness or an accident	The scope of health insurance is not limited to hospitalization only; it also provides coverage against critical illness, ambulance charges, day care procedures, etc.
Premium	Premium offered under this type of insurance is low since the coverage is narrow	The premium for this type of insurance is on higher side as the coverage is comprehensive
Add-on covers	You cannot choose to buy add-on covers with mediclaim policy	You can opt for various add-ons such as maternity, critical illness, worldwide coverage, etc.

Mediclaim Policy

Difference Between Mediclaim and Health Insurance

Feature