Home Health Why do you need a mediclaim premium calculator?

Why do you need a mediclaim premium calculator?

by Lalithaa

Life is unexpected, unpredictable, and full of surprises. We do not know what will happen next, so to safeguard your financials, mediclaim is the best investment option at the time of medical emergency. More than anything else, mediclaims are a necessity in today’s world.  Mediclaim is the health insurance policy that takes care of the expenses if you met with an accident, or any illness when hospitalized. Therefore, mediclaim is limited to hospitalization expenses. Every individual can calculate mediclaim premium beforehand to claim cashless mediclaim and reimbursement option. The most important benefits of Mediclaim policy and the usage of the premium calculator are

  1. To know the approximate premium amount beforehand- It would be better if you can calculate the premium amount much beforehand to know about the policy cost. Later, you can adjust your coverage accordingly. 
  2. Cashless process- With whom you are taking mediclaim policy, they had a network hospitals i.e they had a connection with the hospitals in the cities where you can claim your policy. The company is liable to cover all your hospitalization expenses and get you benefitted with the ease of expenses. Hence, the insurer pays directly for the expenses. 
  3. To balance out the budget- Nowadays, you will find several mediclaim policies by the different insurers, so to find the right one among the others can be easy by focusing on who can provide you the best coverage in your suited budget. If it suits your budget, you can go ahead and take protection against your financials. 
  4. Reimbursement method- The other important advantage when calculating the premium for mediclaim is getting reimbursement options available. As we know mediclaim is limited to only hospitalization expenses, so in case you find an emergency and you prefer to choose no hospital networks. In that scenario, you should be liable to bear all the hospitalization expenses. Later, you can handover the details of the bill and the hospital to which got admitted to the insurer and get your reimbursement done on the spot. Thus, the company will claim a reimbursement.
  5. Renewability age- When buying a mediclaim policy, a person should be well aware and well educated of the terms i.e he must know that policy offers coverage for one year. Getting a mediclaim policy at an early stage can be beneficial for the individuals, as they can get better coverage at a low premium, etc. 
  6. Any type of pre-existence disease- While calculating the premium, you must know that the policy is applicable if you had any pre-existence disease. Many insurance companiesstate that if a person is suffering from any previous disease then they get better coverage, so instead of indulging yourself, always confirm at the time of insurance policy. Moreover, the mediclaim insurance plan covers the pre-existing disease as soon as possible. 
  7. Coverage for individual and family floater- Depending upon your suitability, you can take either an individual insurance plan or a family floater plan. If you choose an individual plan, then you (insured) will get coverage for a certain amount specified separately, whereas, if you chose a family floater, as the name suggests all member’s policy comes under one plan. But there is a con for family floater i.e. if a major person (Karta) of the family dies, then the other family members will not be able to continue or renew the same policy. With the death of the person, the policy also gets closed therein. In comparison with an individual plan, if an individual reaches a certain age limit, then it will not affect the other family members.  
  8. Offers limit- The other reason why you need a mediclaim premium calculator is thatmediclaim comes with only coverage of hospitalization expenses that is why there are no add-ons. Moreover, there is a set limit for coverage like mediclaim cannot be extended for more than 5 lacs. 
  9. No manual calculation- Those times are gone when you have to do a manual calculation for figuring out the actual value of the policy. A premium calculator is a savior and thus saves both time and money. With a few clicks, you can find your cost, value online. 

To conclude-

Mediclaim policy is a basic necessity in today’s world. Today hospitalization expenses are too costly that by getting a suitable mediclaim for himself\herself or family, one can safeguard their financials and do a lot of savings. Moreover, getting a mediclaim means getting yourself insured for a set period with additional benefits of discounts over policy. 

So, now if you have to make a comparison between different mediclaim policies offered by different companies while using a premium calculator, then chose the one offering better coverage like Care Insurance, which not only provides cashless claim but provides easy steps to renew the policy on time.  So go ahead and get insured.

 

You may also like