|HEALTH INSURANCE||MEDI-CLAIM POLICY|
|Offers comprehensive cover, managing pre and post hospitalization expenses||Covers hospitalization expenses for pre-specified illnesses, for a specified duration, depending on the amount of sum insured|
|Coverage for ambulance charges, compensation for any lost income, etc. depending on the riders and clauses associated with the policy||Maximum limit for all claims is fixed at a particular sum based on the principle of indemnity - a 24-hour period of hospitalization is required|
|Offer pre-existing disease cover, surgery and critical illness coverage, individual health insurance plans, senior citizens health plans, and preventive healthcare services.||Those insured pay the expenses of hospitalization directly to the hospital, and Those insured pay the expenses of hospitalization directly to the hospital, and|
|Provide cashless treatment, pre and post hospitalisation charges, ambulance charges, tax benefits, and no claim bonus options||Offer cashless hospital treatment only in cases where a certain hospital operates within the network. Proper paperwork required to gain approval of a definite sum for hospital treatment|
|The upper limit for claims is higher and offers some regular discounts over a fixed period. The tax benefits are also higher||Reimbursements are activated when documents such as payment receipts, bills of medicine, original discharge cards, closing bills, and expense receipts are furnished to the service provider|
This type of insurance offers protection against medical expenses. A policyholder pays a certain premium and the insurance provider company pays for certain covered medical expenses that may be incurred while the policy is in force.
General health insurance policies cover medical expenses such as hospitalization room rent, doctor’s fees, surgical expenses, nursing charges, prescription expenses and so on. Related expenses incurred 30 days before hospitalization as well as recuperation, consultation fees, medications and other expenses incurred 60 days after discharge from hospital, known as pre and post hospitalization expenses are also covered.
The document issued by the health insurance company upon payment of premium is the health insurance policy. This constitutes the contract that is binding on the company as well as the policyholder and sets out all the terms, conditions, inclusions and exclusions of that contract.
These would include expenses incurred as a result of illness or accident during the policy term: hospitalization pre and post hospitalization expenses such as doctor's consultations, diagnostic or lab tests, follow-up tests and specialist consultations etc.
The amount payable per day of occupying a hospital bed is known as room rent. Some policies have a cap on the amount of daily room rent while others do not. A health policy may also clarify terms such as “private room”, “semi-private” or “shared ward”.
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