Ensuring your Wellness: A Guide to Health Medical Insurance

There are several necessities that ensure a quality life for an individual. Insurance is one of them, and knowing the importance of healthcare insurance is even more crucial.

 

We all try to ensure our wellness through various routines and diets and make sure to take all precautions against medical ailments. However, medical emergencies can arrive in any individual’s life without warning. Health emergencies not just take a toll on physical and mental health but also bring with them an unexpected financial burden.

 

Hence it’s important to have a medical insurance policy for us and our loved ones. Here’s a guide to how a health policy ensures your wellness.

 

Understanding Healthcare Insurance

A health policy ensures financial security for you and your dear ones in case of any emergency. In recent times, when the pandemic shook the world, the need for healthcare insurance was felt more than ever. A country whose individuals have healthcare policies has higher health standards and can survive better in case of any catastrophes like the Covid 19.

 

Here are a few key features of healthcare insurance;

 

• It provides coverage of expenses for pre and post-hospitalisation.
• Many healthcare policies also cover the expenses of pre-existing diseases.
• It offers the option of co-payment according to the convenience of the customer.
• Cashless treatment or reimbursement of the money are both options that can be availed by the individual.
• Top-ups or add-ons are available on almost all insurance plans.

 

Benefits of Healthcare Insurance

The benefits of healthcare policy cannot be stressed enough as it is instrumental in every individual’s life. Some of them are:

 

• Financial Security -  Having a health insurance policy safeguards your future by ensuring financial security. A medical emergency has the capability of uprooting all your savings, but a health policy will protect you from a crisis such as this.
• Peace of mind - Knowing that your future medical needs are secured helps you lead a tension-free life. Financial security gives you peace of mind.
• Top-ups and Add-ons - One benefit of healthcare plans is that you can curate them according to your needs. By choosing exclusions and inclusions and even top-ups and add-ons, you can opt for a medical insurance plan that serves your healthcare needs in the best way possible

.

Mediclaim vs Health Insurance

You might have heard these two words quite often. It is difficult to spot the difference between the two as the meaning of both terms often overlaps. However, this blog will tackle the mediclaim vs health insurance conundrum.

 

Mediclaim is a more specific kind of insurance wherein the coverage is provided for expenses for hospitalisation only. While it is pocket friendly as the premium to be paid is less, out-of-pocket expenses are unfortunately not covered under this policy.

 

Healthcare policy is a more inclusive plan, which provides coverage not only for hospitalisation but also for pre and post-hospitalisation expenses, out-of-pocket expenses and much more, depending on which company you choose to buy the insurance from. The medical insurance premium for this is more than that of a mediclaim policy.

 

To tackle the medicalim vs health insurance confusion, let’s look at this comprehensive table which gives us a clearer picture.

 

Criteria	Mediclaim	Health Insurance
Coverage for expenses	Only specific coverage for hospitalisation, accidents, or in some cases, pre-existing diseases.	It offers all-inclusive coverage, including not just hospitalisation but ambulance expenses, pre and post-hospitalisation charges, and many other out-of-pocket charges.
Add-ons and Top-ups	Top-ups and add-ons are not available in a mediclaim policy.	It offers many different options for add-ons and top-ups.
Flexibility	Not much flexibility is available.	You can alter your plan and make it suitable according to your medical needs.
Critical Illness Cover	Does not provide coverage of expenses for critical illnesses.	It offers coverage for cancer, strokes, kidney failure, and more than 30 other critical diseases.
Sum Insured	The sum insured doesn’t exceed ₹5 Lakh	The sum insured varies from ₹50,000 to up to ₹6 crores per year

 

Hope that this comprehensive guide helped you know the importance of family health insurance for your well-being in a nutshell. Mediclaim vs health insurance is an age-old discussion however, both equally help you secure your future medical needs.

 

Niva Bupa offers the best insurance plans for individuals out there with several benefits;

 

• Cashless claim processing within 30 mins
• Strong network of more than 8,600 hospitals
• Various types of policies available to suit your needs.
• Coverage for both pre and post hospitalisation

 

Get your health policy today with Niva Bupa and avail all the benefits easily via digital services.