By Ritik Bhagat
Often people consider Health Insurance Plan and Medical Insurance Plan the same thing. Because both help with your treatment costs. Seeing their features, the ordinary person does not even understand the difference. In this article, we will know what is the difference between Health Insurance and Medical Insurance. Which type of policy will be better for you in both.
Both health insurance and medical insurance help you in your health emergency. Lighten your lump sum expenses. However, the features of the two differ. What is the difference, let us know-
Mediclaim vs Health Insurance: Difference in Coverage
The first major difference is the coverage of the two. A Mediclaim Insurance Policy only covers hospitalization charges in the hospital. Often, this is limited to accident-related cases and certain pre-determined diseases and health problems (delivery, etc.). Even in case of accident, the loss in your income does not come under its purview.
Whereas, health insurance policy, apart from hospitalization charges, hospitalization expenses, pre-hospitalization charges, hospitalization expenses (post-hospitalization charges), other than hospitalization charges. It also covers Ambulance also comes under its purview. Even in the event of an accident, it covers the loss in your income. However, for all these features you have to add the appropriate add ons.
coverage for critical illness
Mediclaim Insurance policy does not provide insurance cover in case of very serious or fatal diseases. The diseases and health problems involved are pre-decided. However, treatment of more than 30 fatal diseases is also covered under the Health Insurance Policy. These include heart attack, cancer, kidney failure, paralysis, etc.
maximum Sum Assured
Under the Mediclaim Insurance Policy, at present (August 2019), insurance cover of up to 5 lakh rupees can be availed. Whereas, under the health insurance plan, you can currently take an insurance policy up to Rs 6 crore annually. Because in this you can increase many types of insurance cover.
Add on Coverage
In Mediclaim policy, you cannot have any other type of add on (additional or ancillary insurance cover) with your main insurance policy. Whereas, with Health Insurance Policy you can add any number of add on according to your convenience and spending capacity. Such as- Maternity Cover, Critical Illness Cover, Room Rent Waive, Hospital Cash, Personal Accident Cover, etc.
Flexibility in mid Term
Once you have purchased the Mediclaim Policy, you cannot make any changes to it later. But there is scope for change in Health Insurance policy after a fixed time period. After that period, you can also reduce the insurance premium by reducing your facilities. Even if you understand the need, you can change the term of your insurance policy.
Chances of claims
You can claim up to the maximum limit on taking a Mediclaim Insurance policy. Even after making a claim during the insurance period, you can claim whenever needed. But only within the maximum amount of that policy.
Under the health insurance policy, you get the entire lump sum of the policy in the treatment of serious illnesses or when you are crippled in an accident. Never again can you get the benefit of that policy. In treating other health problems, you can claim any number of times. But, within your total insurance coverage.
Necessity of hospitalization
To get the benefit of Mediclaim Policy, you must be hospitalized. You will get the claim only at the expense of hospitalization. With a health insurance plan, you can get a claim for expenses on your treatment even without being admitted to the hospital. day-care procedure cover such as care of the patient on addon
Features of different companies
Medical insurance plans are usually of different characteristics, depending on the different insurance company. Different even at the same price. Whereas, health insurance plans with similar prices are almost all insurance companies with similar facilities. Although there is a slight difference.
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