As inflation is on the high in every field, the medical sector is no exception. With soaring hospital bills, medicines, pre and post hospitalization bills, etc, it would be a wise decision to get oneself covered with the medical insurance policy.
It is not just a dream, but a true reality that these days insurance company covers all necessary expenditures and if a person and his family are insured, they can heave a sigh of relief and stay calm and cool and lead a peaceful life.
More important thing is, the insurance policy should cover all the medical expenses and at the same time, the premium amount to be paid should be affordable by the individual.
Types of insurance policies:
There are many types of insurance policies available based on the requirement and the budget of the individual and some of them are listed below. They are:
The coverage of the insurance ranges from critical illness, injuries that happens due to accidents, outpatient expenses, inpatient expenses, etc. Critical illness health insurance plan covers against cancer, heart attacks, kidney failure, organ transplantation, paralysis etc.
There are insurance agencies that provide relief from medicine bills, diagnostic tests, giving yearly health checkups along with dental and eye testing, maternity charges, and outpatient costs.
There is something called family floater plan, which covers not only the individual but also the spouse and the children. Here the premium amount is not fixed only to the individual, but it floats to all the members in the family.
Infant policy can be obtained for an unborn child, so from day 1 of the birth of the child, there will be insurance coverage for the newly born child.
Mediclaim:
Before opting for any mediclaim policy, always read through thoroughly the pros and cons of the policy and analyze whether it would be optimal and a smart move. Check whether the premium amount is affordable.
Types of claims:
There are basically two types of claims. They are:
Cashless claims: In this case, the hospital bills, pharmacy bills, post hospitalization expenses, etc will be covered by the insurance agency and there is no need for the policy holder to spend even a penny. The hospital authority will send the bills directly to the insurance company and the insurance agency will take care of all the expenses.
Reimbursement claims: Here all the expenses of the patient will be paid by the patient and then the insurance company will be intimated by the policy holder and the money spent can be reimbursed from the insurance agency.
Conclusion:
We can conclude that Medical Insurance is definitely a smart decision from every individual’s point of view as with soaring rise in today’s fast paced world, it would definitely uncomplicate things and make life more relaxed and peaceful.