Health insurance and Mediclaim are often the terms which the insurance company pays a more significant percentage. These terms are entirely different from each other.
So! Let’s move ahead and discover the exact difference between mediclaim and health insurance.
Mediclaim insurance delivers financial protection in case of any health-related coverage. It’s a much more pocket-friendly way to lower health-related emergency and depend on the companies to pay for your expenses.
However, medical insurance covers only hospitalization coverage’s. Whereas, the individual must be ready to pay for other expenses different from hospitalization coverage.
Mediclaim insurance provides hospital insurance coverage’s, treatment expenses due to diseases or accidental damages.
Usually, mediclaim comes with a pre-decided amount of money.
A family or an individual can purchase the policy. In a family floater plan, it generally covers dependent children, spouse, dependent parents, and self.
Generally, health insurance covers medical as well as surgical expenses. The insurance company will either pay for the costs or settles the bill with the hospital.
In Health Insurance, policies keep on changing and is expensive than Mediclaim insurance. Health insurance policies offer a complete package than mediclaim. Dangerous diseases like Kidney Failure, Stroke and cancer are also covered under Health Insurance.
Health insurance delivers overall coverage which includes critical illness and dangerous diseases like AIDS, Cancer.
Usually, every health insurance plan comes with excellent benefits every time you renew at the end of the year. This is said to be the No Claim Bonus whereas you get a chance to avail some hefty discounts on your health insurance.
Few of the Health Insurance Policies come with a co-payment option. It gradually decreases the premium cost whereas the insurance company pays a larger percentage.