Buying A Mediclaim Policy In India Online

Amrina Alshaikh
Apr 29, 2020   •  2 views

Medical expenses can suddenly soar due to unforeseen illnesses or accidents. Better than always living under the worry of sudden medical bills best to get covered by a comprehensive health insurance policy. Standard Mediclaim policy in India offers cover benefits for significant illnesses. Choose the Mediclaim policy in India approved by IRDA. Top insurance companies in India are offering standard health insurance products. You can buy a Mediclaim policy in India online. Download policy documents online and choose your health insurance plan without hassles.

Look out for the following features while buying Mediclaim policy in India online:

Health insurance cover

A health insurance policy provides cover for major health conditions that are listed in the policy document. The policy document also mentions the exclusions of the health insurance policy plan. The health insurance plan provides cover for the following:

  • Hospitalization daycare expenses

  • Medicines and tests cost cover

  • Operation procedure expenses cover

  • Pre hospitalization expenses

  • Post hospitalization expenses

  • One personal attendant expenses

  • Ambulance expenses

Health insurance riders

Apart from the covers available under the basic health insurance plan, there are several optional covers. Health insurance subscribers can make the health insurance plan more inclusive by opting for riders. Health insurance plan riders can include:

  • Critical illnesses riders

  • Personal accident cover riders

  • Global health cover riders

  • Swine flu, dengue, SARS virus cover

  • Other new covers

Health insurance premium

Standard Mediclaim policy in India offers health insurance products at nominal premiums. With just Rs 500-700 per month, a cover of over Rs 9 lakhs can be availed for self and family. Health insurance premiums are generally payable yearly, though some health insurance products can have a monthly premium payment facility.

Health insurance policy tenure

Standard Mediclaim policy in India can have health insurance plan tenure ranging from one year to three years. Health insurance plans of longer tenure can offer discounts on premium or additional covers at the same cost.

Health insurance policy renewal

Mediclaim policy in India can be purchased as well as renewed online. The policy document mentions the time by which policy should be renewed. It is best to renew health insurance policy within time limits to avoid policy lapse and falling out of health cover. The standard health insurance policy plan includes no claims benefit feature on renewal up to 50 % of the premium cost.

Health insurance tax benefits

Standard Mediclaim policy in India issue policy documents in compliance with IRDA stipulations. The policy document includes tax benefit conditions applicable to policy subscribers. The policyholder can claim Rs 25,000 to Rs 60,000 tax deduction benefit for health insurance policy premiums u/s 80 d of IT act 1961.

It is best to opt for health insurance policies that spell out advantages, features, terms, and conditions in a lucid manner. Standard Mediclaim policy in India document includes the cooling period condition. Cooling period is a time of 15 days to one month given to policy subscribers to go through the policy document of the chosen health plan.

The policy, if found deficient in any manner by the subscriber can be returned to the insurance company within the cooling period. The subscriber is refunded the premium amount paid for the returned policy. If a policy is not returned within the cooling period, it is deemed as accepted and the policy subscriber becomes the policyholder.