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Why Purchasing a Mediclaim Policy is a Wise Decision?

Erric Ravi
Why Purchasing a Mediclaim Policy is a Wise Decision?

A mediclaim policy is a kind of healthcare insurance plan that offers coverage for medical expenses incurred due to illness, injury or hospitalisation. It is an effective way to safeguard your family from the financial burden of medical expenses. It provides coverage for hospitalisation, pre and post-hospitalisation costs, and additional benefits like cashless hospitalisation. They also cover the cost of medicines and diagnostic tests. The policyholder can customise the coverage according to their needs and can avail of discounts on premiums if they purchase a policy for multiple family members. Mediclaim policies are a great way to protect yourself and your family from unexpected medical costs.

Why Buy a Mediclaim Policy?

Here are a few reasons why purchasing a mediclaim policy is wise.

A medical insurance policy protects you from any unexpected medical expenses incurred due to hospitalisation, surgeries or other medical treatments. It also provides coverage for pre and post-hospitalization expenses, daycare treatments, and other medical expenses. 

The best part about mediclaim insurance is that it is easy to purchase and very affordable. It is available in both individual and family floater policies. The premium amount depends on your age, the sum assured, and the type of policy you choose. The premium is also tax-deductible under Section 80D of the Income Tax Act.

A medical insurance policy also provides coverage for many other medical expenses such as ambulance charges, doctor’s consultation fees, cost of medicines and medical tests, etc. It also covers pre-existing diseases after a certain waiting period.

Apart from providing financial protection, the best mediclaim policy also offers peace of mind as it takes care of all the medical expenses in case of any medical emergency. It also ensures that you get access to quality medical care without worrying about the high cost of treatments.

Benefits of buying a mediclaim policy

Medical insurance plans provide financial coverage for medical expenses. It is a basic form of health insurance that helps provide people with an assurance of financial security if they suffer from any kind of medical emergency. More of its benefits are explained below:

Protection Against Unexpected Medical Expenses

Medical expenses can be pretty expensive and can take a toll on your finances. A mediclaim policy protects you and your family against unexpected medical expenses. It covers the cost of hospitalisation, doctor’s fees, laboratory tests, medicines, and other medical expenses. This ensures you are not left with a substantial financial burden in any medical emergency.

Tax Benefits

Purchasing a mediclaim policy also offers you tax benefits. You can avail of tax deductions under Section 80D of the Income Tax Act, 1961. The deductions are available for the premiums that you pay towards the mediclaim policy.

Cashless Treatment

A mediclaim policy also provides you with the benefit of cashless treatment. You can avail of this facility at any of the network hospitals that are included in the list of hospitals of the insurer. You can avail of cashless treatment without paying any money from your pocket. This is a great benefit as it prevents you from paying hefty medical bills during a medical emergency.

Best Mediclaim Policy

When choosing the best mediclaim policy, you should consider the features and benefits offered by the policy and the premiums you will have to pay. You should also compare insurance policies to find the one best suits your needs.

Medical insurance is a great way to protect yourself and your family health insurance from the financial burden of medical expenses. It provides you with financial protection, tax benefits and cashless treatment. Therefore, purchasing a mediclaim policy is a wise decision. Purchasing a Mediclaim policy is wise as it provides financial security and peace of mind in any medical emergency. It is also affordable and provides coverage for many other medical expenses. So, if you want to ensure your and your family's well-being, purchasing a Mediclaim policy is a must.

Erric Ravi
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