Choosing the Best Mediclaim for Family
Advancement in medical science bringing new hopes in health care and increases the chances of survival from chronic diseases. But, the rise in healthcare costs is accountable for a higher chunk in medical inflation. As a result, the costs of health check-ups, doctors' fees, medication, treatment, and hospitalization are skyrocketing and burning holes in the pockets. Non-communicable diseases such as cardiovascular diseases, diabetes, cancer, and chronic respiratory diseases are alarmingly increasing and can hit your family members anytime. Therefore, keeping in mind, we have designed Super Mediclaim as your one-stop solution for healthcare needs. Here is your go-to guide to understand our mediclaim policy for the family in India.
What is Mediclaim?
God Forbid! If any medical emergency knocks on anyone's doors, it is not lesser than a financial trauma. But, if you already have mediclaim as a safety shield, you do not need to worry. It mitigates the health risks and covers hospitalization expenses; if the policyholder is diagnosed with life-threatening diseases. Cashless facility and reimbursement are the two ways to claim under this health policy. It is an ideal investment to save hard-earned money and stay in the pinkest of health.
Features of Mediclaim Policy for Family
Family mediclaim policy saves you and your family from sudden shocks in life. Read below its prominent features:
- COVID-19 treatment coverage subject to policy T & C
- Individual and family health indemnity cover
- Flexibility to choose different mediclaim policies as per healthcare needs
- Cover a comprehensive list of 32 defined critical illnesses
- Include 16 defined Heart related critical illnesses
- Coverage for surgical procedures under operation mediclaim
- Coverage for daycare treatments
- No upper age for enrolment
- Advance technology treatments-Robotic Surgery/Balloon Sinuplasty
- Monthly and quarterly installment option
- Avail lifelong coverage
- Preventive annual health check-up
- Reduction in premium by using deductible, co-pay, and tenure options
- Avail of counseling from a psychologist through Quick Recovery Counseling
- Double your sum insured via No Claim Bonus
- Tax exemption under section 80D of the Income Tax Act of India
How to Choose the Best Mediclaim Policy for Family?
In today's time, when medical treatment costs are skyrocketing, it's wise to take a medical policy for your family. Read below how you can choose the best medical policy for your family.
- Look for Maximum Coverage: Comprehensive mediclaim policy provides maximum coverage, including pre and post-hospitalization expenses, diagnosis expenses, treatment, and medication. You can also buy add-on covers for organ donors, chemotherapy, radiotherapy, and annual health check-ups.
- Check the Amount of Premium: You can calculate the premium with premium calculators available online. In this way, you can opt for the cover that saves your money from depletion and does not overburden your pocket.
- Read the Exclusions: It also has an exclusions list that you should read carefully before investing in it. There are certain conditions when your family cannot get the claim. So, opt for the cover that offers maximum coverage with minimal exclusions.
- Check the Co-Payment Clause: Before investing in a family floater, it’s advisable to check the co-payment clause. Generally, it ranges between 10 to 30% of the amount you have to pay to settle the medical bills. However, any amount over and above this will be bored by the insurer.
- Know about Network Hospitals: Ensure that you study thoroughly about the network hospitals that are partnered with your health insurance company. It's advisable to look for the hospitals near your residence and well-renowned for healthcare services.
Therefore, it's good to go through every minute detail while selecting a medical cover for your family. With a sound medical policy, you can provide the best treatment for your family without getting overburdened financially.
Benefits of Cashless Mediclaim Policy for Family
A family floater plan is your savior whenever your family faces a medical emergency. It provides you financial security with mental peace. Read below the significant benefits of having the best cashless medical policy for the family:
- Provide a cashless hospitalization facility in case of a medical emergency.
- Offers financial cushion during any medical exigency and protect from those out-of-pocket medical expenditures.
- Offers additional benefits such as lifelong renewability, alternative treatments, ambulance cover, day-care procedures, health check-ups, according to your needs for complete protection.Coverage for pre and post hospitalization expenses such as diagnosis, doctor’s fee, medication, etc.
- Option to pick critical illness cover and get the expenses covered for the treatment of life-threatening diseases.
- Advance treatment facility within network hospitals in nearby locations.
- Tax benefits under Section 80D of the Income Tax Act with deduction up to Rs 75,000/-.
Factors Affecting the Premium of a Mediclaim Policy for Family
When you buy a mediclaim policy for your family or yourself, you are required to regularly pay a specified premium to avail the coverage under the policy. An insurer considers several factors into account and other information about the customer to calculate the premium, based on the underwriting process.
Before opting for a cashless mediclaim policy for your family in India, it is best to check these factors discussed below. These are some critical factors that will impact premium rates.
- Age: As a person ages, the premium goes up. For younger individuals, the mediclaim premium is usually affordable since they have lower health risks.
- Sum Insured: The premium will also depend on the amount of coverage you have opted for under your mediclaim policy.
- Type of Coverage: One can opt for either a mediclaim insurance policy for family or an individual mediclaim policy. The premium will accordingly vary. Moreover, the number of insured persons covered in the policy also affects the premium cost.
- Pre-Existing Diseases: The pre-existing disease is another factor impacting the premium. It will be higher for people who have diabetes, hypertension, etc.
- Smoking/Tobacco: An individual's lifestyle habits, including tobacco or alcohol consumption, are considered factors for deciding the premium. In such cases, the premium will be higher.
- Occupation: For those who work in a risky environment, such as daily wage earners, mine workers, professional drivers, Army personnel, etc., the premium is usually higher.
- Discounts: Discounts while adding more members in the same policy, multi-year policy on single premium also reduces the premium.
- Optional Benefits: If you wish to avail some optional benefits like deductible, co-payment, unlimited automatic recharge, and so on, you need to pay a slightly higher premium. Refer to T&C for more details.
Eligibility Criteria for Family Mediclaim Policy
For getting the best mediclaim policy in India for your family, the eligibility criteria are given below:
- Minimum age of 91 days for floater policy, and 5 years for individual cover
- There is no maximum age limit for entry
Exclusions in Family Mediclaim Policy
The standard exclusions in a mediclaim policy for a family in India include:
- Any diagnosis of diseases / undergoing of surgery/occurrence of the event, whose signs or symptoms first occur within 30 days of policy period start date
- Expenses attributable to self-inflicted injuries, suicide, or attempted suicide
- Hospitalization arising out of alcohol or drug use/misuse/abuse
- Medical expenses arising out of the treatment of congenital disease
- War, riot, strike, nuclear weapons induced hospitalization
What is a mediclaim insurance policy for family?
A mediclaim insurance policy for family is an insurance policy that will cover hospitalization and related medical expenses. It offers coverage in two ways – cashless and reimbursement claim.
Why choose family mediclaim policy?
In India, a mediclaim policy for a family is a vital investment as healthcare costs are on the rise, and at the same time, lifestyle diseases are also posing new health risks. For tackling any medical emergency without the least financial trouble, a mediclaim policy is a right choice.
How does mediclaim insurance for family works?
The mediclaim insurance for family covers you and your immediate family members, including spouse, and dependent children, under a single policy for an affordable premium. It is essential to regularly pay the premium and opt for timely policy renewals to get continued coverage and avail of the policy benefits. In a medical emergency, you can avail of cashless hospitalization at a network hospital empaneled with us. We will settle the expenses directly with the hospital, subject to the policy terms and conditions. If you choose a non-network hospital, you can apply for a reimbursement claim.
How can I add my family members to the existing policy?
You can add a new family member to your existing mediclaim for family at the time of policy renewal. You are required to notify us and submit the duly-filled proposal form.
Do I need to take a separate health policy if my family and I are already covered in a corporate health policy?
Considering the medical inflation in India, getting a separate mediclaim policy for your family is best advisable even if you and your family members are already covered in a corporate health policy. That is because your corporate health cover may not be adequate and would not be available in case of job loss or job change.
During the course of treatment can I change my hospital?
Yes, if the need arises, you can change the hospital during the course of any medical treatment. The medical expenses will be covered, subject to the policy terms and conditions.
How can I check the status of my claim?
Now, you can track the status of your claim online. All you need to do is visit our official website, go to the claim section, and enter relevant details, including your policy number.
Can I take multiple family mediclaim policies? How will I make a claim in that scenario?
Yes, you can have multiple family mediclaim policies. In case you have multiple indemnity-based plans with other insurers or us, then you can use any of these plans to settle the claim, provided that the claim amount payable is up to the sum insured of such policy. In case the claim amount under a single policy exceeds the sum insured, you can choose the insurer to settle the claim. The medical expenses will be settled, subject to the policy terms and conditions.
Nothing is more important to you than your family. Every day, you try hard to give them good health and a comfortable life. Therefore, a small investment in a health insurance policy gives you financial immunity and world-class healthcare facilities for your family. Check the best cashless mediclaim policy for the family in India offered by us. So, you and your loved ones can enjoy good health and peaceful lives.