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Mediclaim: Your Immediate Life-saver

Has the sky ever fallen on you under the guise of medical bills? If high medical bills have managed to burn a reasonable hole in your pocket, then it would be advisable to save a certain portion of your regular income towards mediclaim or health insurance. The thought of spending the entire savings on a medical bill can be daunting for an average middle income person. In the eventuality of unforeseen medical bills and rising inflationary trends, they can land on us like a ton of bricks leaving us in precarious financial state of affairs. A timely investment in the form of premiums for a mediclaim policy can ensure you are protected from such eventualities.

Let’s take a closer look at why mediclaim is a life-saver:

Investments in mutual funds and bank deposits give us several monetary benefits for the future. But, the investments made for a mediclaim policy are useful for medical emergencies at point of life. An investment in mediclaim can provide several benefits such as:

  • Accessing Cashless benefits: One has the ability to walk into any hospital under the mentioned network of hospitals and clinics in the mediclaim policy without a fear of having zero cash. This service extends to all the members of your family who are mentioned in the policy.
  • Covering treatments that do not need hospitalization: Imagine not having to pay for minor ailments that occur due to changes in the weather. Treatments without hospitalization are covered under mediclaims. 
  • Can access facilities with a card: The convenience of swiping a credit card that extends to health facilities. Some mediclaims provide a health card that can be swiped every time you need to access medical services. This is authorized based on the eligibility of the cardholder under the purview of the details mentioned in the scheme.
  • Benefits that extend to the family: A mediclaim holder can take a comprehensive health package for the entire family. These medical services can be accessed by you and your family members throughout the hospital network that is mentioned in the list of centers in India and internationally.
  • Breaking free from the world of incomplete reimbursements: Gone are the days when standing in line for the reimbursement of your medical bills was the norm. It is quite possible to receive the full reimbursed amount without any hassles.
  • No more overnight stays required: An option of conducting only day-care procedures can be taken under certain mediclaims. One need not insist upon an overnight stay to claim mediclaim benefits.


What are the types of mediclaim plans?

There are a variety of mediclaim policies that one can choose from. These can be elaborated below:

·         A mediclaim for an individual: This is the simplest form of health insurance policy. Almost anyone can take a mediclaim that covers the hospitalization expenses up to a certain limit. The amount of premium to be paid is dependent upon the sum assured value. For example, one can insure up to the amount of 3 lacs, other members of the family can also avail of this amount for each person. In this scheme, the person insured and the family members will be able to redeem up to 3 lacs of medical benefits, individually.

·         Policy for the family: A family floater mediclaim policy is one that includes all the members of the family within a particular cover. In such a policy, all the members of the family can avail medical benefits up to the limit of the sum assured. For instance, all the members in the family can avail medical benefits up to sum assured of around 7 lacs. But, if one member of the family utilizes up to 5 lacs of the sum assured amount within a year then, the others family members can only access up to 2 lacs still the end of the year. The medical amount gets reimbursed in the next year for all the members of the family.

·         Health plans that are unit-linked: Most unit-linked health insurance schemes have a component that is invested in the stock market. This allows the investor to reap the benefits that are determined based upon market performance.

The choice of mediclaims for yourself or your family members should be based upon the available options. Several private companies offer attractive medical schemes, it would be wise to conduct a complete comparison before undertaking the mediclaim for good. To read more about difference between health plans and mediclaim policies, click here.


About HDFC Life


HDFC Life (, one of India's leading private life insurance companies promoted by HDFC Ltd. & Standard Life Ltd., offers a range of individual and group insurance solutions. HDFC Life's product portfolio comprises solutions, which meet various customer needs such as Protection, Pension, Savings, Investment and Health.

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