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5 Difference Between Mediclaim Policy and Health Insurance

5 Difference Between Mediclaim Policy and Health Insurance

Most people get confused between choosing a mediclaim policy or a health insurance cover. The major difference between a health insurance and a mediclaim lies in claim policy with respect to hospitalization. A mediclaim policy only pays for the medical expenses in case of a hospitalization while a health insurance can cover almost all kinds of illnesses and they might include hospitalization charges, ambulance charges, tests conducted, medicine costs and doctor’s fees.

What is a Mediclaim Policy and a Health Insurance?

The meaning of a mediclaim policy and a health insurance cover is as follows:

What is a Mediclaim Policy?

Mediclaim policy is a type of insurance plan that covers health-related financial expenses upto the sum insured amount. In mediclaim policy, the coverage is limited to only hospitalization. Choosing the best mediclaim policy not only ensures the best treatment during a medical emergency but also helps to manage finances well during such times.

What is Health Insurance?

A health insurance is also a type of insurance wherein an insured individual or a group can avail incurred medical expenses due to any medical emergency. The insured pays a premium to the insurer and can avail the medical expenses either as an cashless option or by reimbursement.

Difference Between Mediclaim Policy and Health Insurance

The major difference between a mediclaim policy and a health insurance plan are:

Both the policies have their own benefits and should be chosen according to individual needs. Companies like Care Health Insurance offer both mediclaim and health insurance plan options which individuals should check before buying.

Things to Check Before Buying a Mediclaim or Health Insurance Policy

Choosing the right policy is of utmost importance for any individual. Before buying any mediclaim or health insurance policy, the following things should be kept in mind:

 

So, these were the main differences between a mediclaim policy and a health insurance plan along with other details. Again, it’s always recommended to check all the details and understand individual needs before buying a premium.

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