Medical inflation has made healthcare services expensive. If you end up getting admitted to a hospital due to a medical emergency, the hospital bill will exhaust your lifelong savings in no time. Buying a mediclaim policy is the best way to pay for your costly medical treatment without losing your savings.

What is a Mediclaim Policy?

A Mediclaim policy is a kind of health insurance that covers your medical expenses incurred during hospitalization only. It offers medical coverage for hospitalization expenses up to the sum insured limit. Mediclaim insurance also offers cashless treatment facilities to the policyholder at the insurer's network hospitals and is available on both individual & floater sum insured basis.

Benefits of Buying a Mediclaim Policy

• Cost-effective- A mediclaim policy is a cost-effective way of availing healthcare services without exhausting your savings.


• Cashless Treatment- Cashless hospitalization facility is available in all network hospitals of your insurance company, which eliminates any out-of-pocket expenses in case of a medical emergency.


• Eases Financial Stress– It lowers the financial burden on the policyholder and his/her family by offering monetary assistance during a medical emergency.


• Individual and Family Floater Cover- Both individual and family floater policies are available in the market.


• Hospitalization Expenses- Hospitalization Expenses- Mediclaim policies cover in-patient hospitalization expenses, such as OT expenses, doctor’s fees, nursing charges, medicine costs, etc. incurred due to an illness or accidental injury.


• Lifelong Renewability- A mediclaim policy can also offer a lifelong renewability option to the policyholder depending on the opted policy.


• Additional Benefits- It comes with several additional benefits, such as ICUs charges, room rent, etc.


• Tax Exemption Benefits- BTax benefits under section 80D can be availed on the policy premium that is paid every year.

Types of Mediclaim Policies in India

There are different types of mediclaim policies available in India. You can choose the policy as per your health needs and avail medical treatment with peace of mind. Let’s have a look at the various types of mediclaim plans:

1. Individual Mediclaim Policy

An individual mediclaim policy offers health insurance coverage to only the policyholder. Only one person can avail the medical insurance benefits against the premium paid under this type of policy. Several health insurance companies provide individual mediclaim plans in India.

2. Family Floater Mediclaim Policy

A family floater mediclaim policy provides coverage to the policyholder along with his/her family members, including parents, spouse, and children. Under this type of policy, a single sum insured amount is available to all the family members on a floater basis.

3. Senior Citizen Mediclaim Policy

Senior citizen mediclaim policy is designed to cover hospitalization expenses incurred by elderly people who have crossed the age of 60 years. The senior citizen health insurance policy coverage are customized to cover the health needs of senior citizens.