The document summarizes the key features of a Mediclaim insurance policy in India. Mediclaim is a hospitalization insurance policy offered by public and private insurers that reimburses expenses from hospitalization, surgery, accidents, or illnesses. There are individual, family, and senior citizen policies. Family policies allow the sum assured to be used by any family member. Mediclaim provides cashless payment of bills to hospitals and tax benefits. The key benefits covered are room costs, nursing, surgeon fees, medicines, and diagnostic tests.
Insuring yourself against the risk of incurring medical expenses is important. However, before choosing the health insurance policy, it is important to know more about the different health insurance plans. This SlideShare provides more information about medical insurance and its benefits. http://bit.ly/1pHFP90
Importance of Health Insurance: Incase you get sick or need any kind of medical attention. Can you afford to pay for a doctor’s visit without insurance? Depending on the type of doctor and practice it can cost from www.lifethenfinance.com 2 $95–$265 per visit. Insurance co-pays: $5–$50 per visit. Are you certain you won’t hurt yourself or catch some type of cold? Do you have allergies, wear contacts or need any other type of regular prescriptions? Can you afford those medications without insurance? On average prescription generic medications start around $50. Insurance co pays usually around $5–$20.
Kanoe India Healthcare, A division Of Kanoe Softwares proposes a special Medical insurance plan sponsored by Universal Sompo General insurance Co. Limited in joint venture with Allahabad Bank Limited, Indian Overseas Bank, Karnataka Bank Limited, Dabur Investments Corp and Sompo Japan Insurance Incorporation in Public Private Partnership (PPP), aiming to provide assurance of Government/Public sector and superb, hassle free service from private bodies.
Health Insurance products can be challenging in today’s insurance environment. LionShare Insurance Group offers a complete line of individual health and life insurance products that are crafted to meet you and your family’s specific needs.
Insuring yourself against the risk of incurring medical expenses is important. However, before choosing the health insurance policy, it is important to know more about the different health insurance plans. This SlideShare provides more information about medical insurance and its benefits. http://bit.ly/1pHFP90
Importance of Health Insurance: Incase you get sick or need any kind of medical attention. Can you afford to pay for a doctor’s visit without insurance? Depending on the type of doctor and practice it can cost from www.lifethenfinance.com 2 $95–$265 per visit. Insurance co-pays: $5–$50 per visit. Are you certain you won’t hurt yourself or catch some type of cold? Do you have allergies, wear contacts or need any other type of regular prescriptions? Can you afford those medications without insurance? On average prescription generic medications start around $50. Insurance co pays usually around $5–$20.
Kanoe India Healthcare, A division Of Kanoe Softwares proposes a special Medical insurance plan sponsored by Universal Sompo General insurance Co. Limited in joint venture with Allahabad Bank Limited, Indian Overseas Bank, Karnataka Bank Limited, Dabur Investments Corp and Sompo Japan Insurance Incorporation in Public Private Partnership (PPP), aiming to provide assurance of Government/Public sector and superb, hassle free service from private bodies.
Health Insurance products can be challenging in today’s insurance environment. LionShare Insurance Group offers a complete line of individual health and life insurance products that are crafted to meet you and your family’s specific needs.
Life and Health Insurance Tips and Complete Guide.pdfIGILife
Family Floater Health Insurance - A family floater health insurance is a type of policy customized to suit the entire family, under one single premium. The same protects and covers all family members against various illnesses, accidents, hospitalization, and other medical needs that may arise during one's lifetime.
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HEALTH INSURANCE PROVIDED BY GOVERNMENT VS PRIVATE SECTOR IN INDIAVedica Sethi
Healthcare is significant for each individual on the planet, on account of this each nation should focus on wellbeing, because of increment pace of sickness and ailments.
In India medical coverage part is an undiscovered market, still it has crying needs. There is colossal potential for this part. The medical coverage suppliers are not satisfying this interest. After 1999 the privatization of protection area, the protection segment has developed in past decade. By and by there are 25 medical coverage suppliers, in that four are with open area and twenty one private medical coverage suppliers. The piece of the overall industry of open segment is 60 rates while the rest with other private players.
This paper inspects the present status of medical coverage in India, advancement in health care coverage area and difficulties looked by it. It additionally investigates the job of both open and private medical coverage players to arrive at most extreme inclusion in health care coverage.
2. Mediclaim policy is a hospitalization benefit that is offered by
both public and private sector general insurance companies
in India.
The Mediclaim insurance policy takes care of expenses
following hospitalization/domiciliary hospitalization of the
insured in respect of the below situations:
In case of an accident
In case of sudden illness
In case of any surgery which required in respect of any
disease which has arisen during your policy period.
3. Mediclaim policy is an insurance coverage where in any of your health related
hospitalizations bills can be claimed from the insurance company.
There are two different ways to get your bills claimed either by cashless facility i.e.
your bills are directly paid to the hospital or you can pay your bills in the hospital
and get an reimbursement after submission of the same to the insurance
company.
Mediclaim policy helps employee for take the benefit of medical treatment.
Employee’s come under it who pays amount to insurance company.
4.
5. Scope of cover
The policy basically available to persons between the age of 5 and 80 years
(children between the age group of 3 months to 5 years can be covered if one or
both their parents are also covered concurrently)
Basic cover
Pre hospitalization benefits
Post hospitalization benefits
Sponsored health checkups
Discount in premium for family cover
6. Types of medical policies
Individual Mediclaim policy
Family Mediclaim policy
Senior citizen Mediclaim policy
7. Individual Mediclaim policy
This policy is ideal for you if you want to cover just yourself & medical treatment
that only you will need.
Company will reimburse the medical expenses incurred while the insured was
admitted in the hospital as an in patient.
Individual Mediclaim policy also covers surgeon, anesthetist, medical practitioner,
consultants, specialist fees.
8. Family Mediclaim policy
It is the enhanced version of Mediclaim policy in which the sum assured value
floats among the family members i.e. each member of the family is covered under
a single plan and sum assured can be claimed by any member of the family.
Family floater policy covers your complete family so if any medical emergency
arise, you have to worry only about choosing the right hospital not about the
financial costs.
Family Definition:
Self+Spouse+2 Dependent Children
9. Senior citizen Mediclaim policy
The senior citizen Mediclaim policies are for people aged between 65 years and 80
years & this policy is little more expensive then the others.
It covers:
Hospitalization
Day care
Medical expenses
10. Salient Feature of Mediclaim policies:
Mediclaim insurance policy has been devised under the aegis of the Government of
India. The policy provides the following benefits.
Reimbursement of hospitalization expenses which are reasonably and necessarily incurred,
under the following heads:
a) Room, boarding expenses as provided by the hospital/nursing home.
b) Nursing expenses.
c) Fees of surgeon, anesthetist, medical practitioner, consultant and specialist.
d) Expenses on account of anesthesia, blood, oxygen, operation theatre charges,
surgical appliances, medicines and drugs, diagnostic material, X-ray, dialysis,
chemotherapy, radiotherapy, cost of pacemaker, artificial limbs and cost of organs and
similar expenses.
11. The Scheme covers existing illness of the members.
The Scheme provides a family floater of Rs.1 lakh with a Corporate buffer of
Rs.50 lakhs.
It is a cost effective way of health care
Offers peace of mind
Availability of cashless hospitalization
No out of pocket medical expense
Medical expenses managed by the insurance company itself
Tax benefits
Under the Income Tax Act, under Section 80D, the insured person who
takes out the policy can claim for tax deductions.
Rs.25,000 for self, spouse and dependent children.
Rs. 30,000/- for parents
For dependent parents there will be a limit of Rs.1 lakh for Critical illness and
Rs.50,000/- for non-critical illness for each parent.