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Mediclaim Policy

A POLICY FOR MEDICAL EMERGENCIES: Blessed are those who enjoy good health. But life has its own twists and turns. A medical emergency does not send you to advance notice---it can brew up very gradually or come when least expected. This is where a Mediclaim policy steps in. Since medical costs are very expensive these days, a Mediclaim policy provides you medical cover and takes this worry off your head should you fall ill or a mishap occurs. We all buy Mediclaim or want to buy a Mediclaim Policy but are we sure we have the right plan for our family? With the coming of several health insurance companies, India has witnessed a revolution in medical covers and here it becomes important to understand the New Generation Mediclaim Plan.

Regular exercise, meditation, right eating habits, positive attitude, meaningful work and short walks all add up to big benefits when it comes to your health. These little habits can bring about a big and positive impact on your well being. However, not all people are blessed with the right regimen and many people do not follow a healthy lifestyle these days.

We pray and hope you will follow a healthy daily schedule but should you by any chance fall ill or a mishap occurs, remember---the grace of GOD is like the right medical insurance plan. It will help you in your time of need. It is important to understand that the right time to buy a Mediclaim policy is while you are still healthy. The premiums while young and healthy are low. However, no matter what age you are, many routine and critical diseases nowadays are not linked to age. Major ailments like kidney, cancer, heart attacks and many more have been found in youngsters. As per a 2005 Report of the National Commission on Macroeconomics and Health, Ministry of Health & Family Welfare, GoI, 38 million deaths occur each year in India due to non-communicable diseases (NCD) in India, which account for 60% of all deaths. In India, roughly 5.8 million people die each year of NCDs like diabetes, cancer, stroke, heart and lung disease.  According to the GOQii India Fit Report 2019, since last year, there has been a rise in the number of lifestyle diseases among young people (below 45 years) overall. Since last year, the percentage of cholesterol among Indians has increased from 10.1% to 14.1%, 34% of the population has high blood pressure running in their families and a sizable percentage of Indians are at high risk for diabetes.

This is why should things go wrong by any chance, if you take a Mediclaim policy you will have a cover that you can rely upon. A Mediclaim Policy is usually for a pre-specified, limited sum and covers only 24-hour hospitalisation expenses; diagnosis, treatment and daycare towards a specific illness/disease. The new generation Mediclaim policies come with a host of features, benefits, advantages and coverages. These are the things that you should focus on when buying a Mediclaim policy and not the cost or the premium. At SIB, we guide you and help you choose the right Mediclaim policy from a host of insurers that we are associated with. Well versed with the details of different Mediclaim policies from several health insurers, we will help you choose an appropriate Mediclaim policy for your individual and family needs.

Portability

Should you hold a Mediclaim policy and are dissatisfied by it, we also assist you in porting the policy to another health insurer offering overages that you desire. Portability is a facility which allows health insurance policyholders to transfer their insurance coverage from one insurance company to another without losing any benefits that customers have accumulated with the first company. In the past, prior to IRDAI's regulations regarding portability, when customers ported or transferred coverage from one insurance company to the other it would have resulted in losing the waiting period for coverage of pre-existing disease benefits. After the new IRDAI regulations are in force, IRDAI protects customer's right to port or transfer the policy to any insurance company and has laid down regulations that the new insurer "shall allow for credit gained by the insured for a pre-existing condition(s) in terms of waiting period". This is applicable not just for one insurer to another but also from one plan to another with the same insurer.

MAJOR EXCLUSIONS

  • Any treatment within first 30 days of cover except any accidental injury.

  • Any Pre-existing diseases/conditions diseases like cataract, hernia, hysterectomy, joint replacement, etc. will be covered as per the specified period of the policy.

  • Expenses arising from HIV or AIDS and related diseases.

  • Abuse of intoxicant or hallucinogenic substance like drugs and alcohol.

  • Hospitalisation due to war or an act of war or due to nuclear, chemical or biological weapon and radiation of any kind.

  • Non-allopathic treatment, congenital external diseases, mental disorder, cosmetic surgery or weight control treatments

ELIGBILITY

MAXIMUM AGE: The maximum entry age is 65 years.

MINIMUM AGE: The minimum entry age is 91 days. Children between the ages of 91 days to 5 years can get insured provided one of the parents has taken a policy.

The cover will be valid for one or two years as opted for. A certain discount is given on the premium by some insurance companies, if you opt for a 2-year policy.

An individual and/or his family members namely spouse, dependent children and dependent parents/parents-in-law are eligible for buying this cover on an individual or floater basis.

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