A Guide to Choosing the Best Mediclaim Insurance Policy for your Family
26 April, 2023
1 Shares
193 Reads
Share
Everyone wants to obtain family medical insurance plans that provide their loved ones with the best protection possible during a crisis. Yet, choosing the best medical insurance in India can be challenging, given the variety of options available. Many purchase a health plan without understanding if it would suit them. The comprehensive information in this article will make it easier for you to buy a mediclaim policy for your family.
What is the Need for the Best Mediclaim Insurance Policy for Family?
The best medical insurance in India for families is crucial in today's world, where healthcare costs are constantly on the rise. It provides financial coverage for medical expenses incurred by the insured and their family members. Here are some other reasons why it is needed:
Rising Healthcare Costs
With the increasing cost of medical treatment and hospitalisation, a single medical emergency can put a significant financial burden on the family. A mediclaim policy ensures that the family is financially secure in such situations.
Comprehensive Coverage
It provides comprehensive coverage for medical expenses, including hospitalisation, diagnostic tests, surgeries, and other medical procedures.
Cashless Hospitalisation
Many mediclaim insurance policies offer cashless hospitalisation, which means that the insured can receive medical treatment without having to pay cash upfront. This is especially useful in emergencies where cash may not be readily available.
Tax Benefits
The premium paid towards mediclaim is eligible for tax deductions under Section 80D of the Income Tax Act, 1961. This provides an additional financial benefit to the insured.
Peace of Mind
Mediclaim provides peace of mind. It allows the insured to focus on their health without worrying about the financial implications of medical treatment.
How to Choose the Suitable Mediclaim Insurance Plan?
Here are some helpful factors to assist you in selecting the ideal family insurance policy.
Assess your Family's Healthcare Needs
The first step in choosing the best mediclaim insurance plan is to assess your family's healthcare needs. Consider factors such as the number of family members, their age, and any pre-existing medical conditions. This will help you determine the type and amount of coverage you need.
Research Different Insurance Policies
Research different medical insurance policies offered by various insurance companies. Look for policies that offer the coverage you need at an affordable premium. Consider the policy's features, benefits, exclusions, and waiting periods. Reading the policy document carefully is essential to understand the terms and conditions.
Compare Policies
Compare family medical insurance plans based on their features, benefits, and premiums. Consider the policy's coverage for hospitalisation, pre-existing conditions, critical illnesses, and maternity benefits. Also, consider the policy's network of hospitals and the process of filing a claim.
Check the Insurer's Claim Settlement Record
Check the insurance company's claim settlement record before buying a policy. The claim settlement ratio represents the number of claims settled by the insurance company out of the total number of claims received. A high claim settlement ratio indicates that the insurance company is trustworthy and reliable.
Look for Add-on Covers
Look for add-on covers that provide additional benefits such as critical illness coverage, accidental coverage, medical insurance for parents, and maternity benefits. These covers may come at an additional premium but can provide significant benefits in unexpected medical emergencies.
Check the Waiting Periods
Most mediclaim insurance policies have waiting periods for pre-existing conditions and certain illnesses. Check the waiting periods for the policy you are considering. A shorter waiting period is better as it means you can claim medical expenses related to pre-existing conditions sooner.
Consider the Premium
Take into account the premium for the medical insurance you are considering for your parents. Look for policies that provide comprehensive coverage at an affordable premium. It is important to note that the premium may increase with age and the coverage amount.
Choosing the best mediclaim policy for your family requires careful consideration and research. When purchasing family medical insurance plans, follow the recommendations above to improve your plan's advantages.
Now that you know what to consider while choosing a mediclaim insurance policy, go to Niva Bupa to purchase your family's best healthcare insurance policy.
Secure your Health with comprehensive insurance plans from Niva Bupa
Popular Searches - Health Insurance | Medical Insurance | Best Health Insurance Plans | Health Insurance Plans | Health Insurance Policy | Best Health Insurance Plans | Best Family Health Insurance | Best Mediclaim Policy | Best Health Insurance In India | Best Medical Insurance In India | Best Health Insurance Plans In India | Best Health Insurance Policy In India | Mediclaim | Best Health Insurance For Senior Citizens In India | Best Health Insurance | Health Insurance With Opd Cover | Mediclaim Insurance | Medical Insurance Plans | Best Health Insurance Company in India | Critical Illness Insurance | Personal Accident Insurance | Mediclaim Policy | Individual Health Insurance | Pregnancy Insurance | Maternity Insurance | | Best Family Health Insurance plans in India | Best Health Insurance company | Family Health Insurance | Best Health Insurance plans for Senior Citizens | Mediclaim Policy for Family
Health Insurance Schemes - Chief Ministers Comprehensive Health Insurance Scheme | Employee State Insurance Scheme | Swasthya Sathi Scheme | Pradhan Mantri Matru Vandana Yojna | Government Health Insurance Scheme | Dr. YSR Aarogyasri Scheme | Pradhan Mantri Suraksha Bima Yojna | Health Insurance Deductible | West Bengal Health Scheme | Third Party Administrator | Rashtriya Swasthya Bima Yojana | In Patient Vs Out Patient Hospitalization | Mukhyamantri Chiranjeevi Yojna | Arogya Sanjeevani Health Insurance | Copay Health Insurance | Cashless Health Insurance Scheme | Mukhyamantri Amrutum Yojna
Travel Insurance Plans - Travel Insurance | International Travel Insurance | Student Travel Insurance | Travel Insurance USA | Travel Insurance Canada | Travel Insurance Thailand | Travel Insurance UK | Travel Insurance Germany | Travel Insurance Bali | Travel Insurance Vietnam | Travel Insurance Dubai | Travel Insurance Singapore | Schengen Travel Insurance
Top Hospitals - Best Hospitals in Chennai | Top Hospitals in Delhi | Best Hospitals in Gurgaon | Best Hospitals in India | Top 10 Hospitals in India | Best Hospitals in Hyderabad | Best Hospitals in Kolkata | Best cancer hospitals in Bangalore | Best cancer hospitals in Hyderabad | Best cancer hospitals in Mumbai | Best cancer hospitals in India | Top 10 cancer hospitals in India | Top 10 cancer hospital in Delhi | Multi Speciality Hospitals in Mumbai | Multi Speciality Hospitals in Chennai | Multi Speciality Hospitals in Hyderabad | Super Speciality Hospitals in Delhi | Best Liver Hospitals in Delhi | Best Liver Hospitals in India | Best Kidney Hospitals in India | Best Heart hospitals in Bangalore | Best Heart hospitals in India | Best Heart hospitals in Kolkata | Best Heart hospitals in Delhi
Others - Top Up Health Insurance Policy | Corporate Health Insurance | Health Card | Section 80d of Income Tax Act | Ayushman Bharat | Health Insurance Portability | GoActive Family Floater Plan | Health Companion Family Floater Plan | Health Premia Family Floater Plan | Health Pulse Family Floater Plan | Health Recharge Family Floater Plan | Heartbeat Family Floater Plan | Money Saver Family Floater Plan | Saral Suraksha Bima Family Floater Plan | Senior Citizen Family Floater Plan | Super Saver Family Floater Plan | Corona Kavach Family Floater Plan | Hospital Cash Insurance | Cashless Health Insurance | Health Companion Price revision | Heartbeat Price revision | ReAssure Price revision
COVID - Omicron | Coronavirus Health Insurance | Covid XE Variant | Norovirus
www.nivabupa.com
+91 11 41743397
1860-500-8888
14th Floor, Capital Cyberscape, Sector 59, Gurgaon
- Insurance is a subject matter of solicitation. Niva Bupa Health Insurance Company Limited (formerly known as Max Bupa Health Insurance Company Limited) (IRDAI Registration Number 145, Category:Health), 'Bupa' and 'HEARTBEAT' logo are registered trademarks of their respective owners and are being used by Niva Bupa Health Insurance Company Limited (formerly known as Max Bupa Health Insurance Company Limited) under license. CIN: U66000DL2008PLC182918
- 1 Niva Bupa processes pre-authorisation requests within 30 minutes for all active policies, subject to receiving all documents and information(s) up to Niva Bupa’s satisfaction. The above commitment does not include pre-authorisation settlement at the time of discharge or system outage.
- 2 Since Inception refers to claim data from 2010 till December 2023.
- 3 ReAssure 2.0 Premium: The premium is including taxes and for Bronze Variant, for a 25-year-old individual living in Delhi.
- 4 Aspire Premium: The premium is including taxes and for Gold+ Variant, for a 25-year-old individual living in Delhi.
- 5 Senior First Premium: The premium is including taxes and for Gold Variant, for a 65-year-old individual living in Delhi.
- 6 Health Premia Premium: The premium is including taxes and for Silver Variant, for a 25-year-old individual living in Delhi.
- 7 SmartHealth + Disease Management Premium: The premium is including taxes and for Disease Management Gold Variant rider when bought with ReAssure 2.0 Bronze variant with Base Sum Insured of 5 lacs, for a 25-year-old individual living in Delhi.
- Beware of spurious / fraud phone calls! Do not share your confidential information like Debit / credit card number, Internet Banking User ID/Password, Pin, CVV, OTP, etc. with anyone. Avoid clicking on attachments / payment link received in mails / message from unknown sources. IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment or premium. Public receiving such phone calls are requested to lodge a police complaint. Do not respond to unsolicited and attractive offers received through unidentified calls, emails, SMSs, and other social media platforms. Beware of misleading telephone calls from people posing as Niva Bupa officials, agents, IRDAI Officials, Officials from ECI (Office of the Executive Council of Insurers) etc. and offering alluring benefits or sharing false information on your policy or on Niva Bupa. Niva Bupa shall not be responsible for any loss or damages whatsoever for any acts or omissions arising out of such spurious calls, and all customers are advised to contact our customer care at 1860-500-8888 and verify any representations or promises made by any such spurious callers before acting upon the same.