Mediclaim also known as Indemnity based health insurance, takes care of the hospitalization expenses and under which the cost of medical expenses is reimbursed to the policyholder. However, the amount reimbursed is only up to the total sum insured. Most of the plans, cover pre and post hospitalization charges. Apart from this, one can benefit from tax exemptions too.
Types of Mediclaim Plans
- Individual Plans:This is medical coverage meant for individuals.
- Family-Floater Plans: Here just one insurance plan can be shared for the entire family. It is considered a cost-effective plan, as a single premium is used for all the family members. Some plans even include parents’ coverage.
Senior Citizen Insurance: These plans are designed for people above the age of 60 years. Elderly people are more vulnerable to serious illnesses, and the cost of treatment for such diseases is also expensive. Therefore, it is better to buy a senior citizen plan for your elderly parents to ensure adequate medical coverage in their post-retirement years. The premium is usually higher because of the extensive coverage benefits.