How is a Health Insurance different from a Mediclaim Policy?

| February 26, 2019

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Difference between Health Insurance and Mediclaim Policy. Even before one can zero-down on a Health Insurance provider that they feel is best for them, it is suggested that an individual first understands the difference between a Health Insurance Policy & a Mediclaim Policy since they are very different in terms of the coverage they offer. Where a Mediclaim Policy offers coverage only for Hospitalization – whether in-patient or domiciliary; a Health Insurance is more comprehensive & extends coverage beyond basic hospitalization to include coverage for Ambulance, Day Care Treatments, OPD Expenses, Critical Illnesses, Pre & Post-Hospitalization Expenses & much more. Hospitalization coverage in case of Mediclaim policy is limited to some specific pre-defined illnesses & does not cover major critical illnesses such as cancer, major heart surgeries, liver transplant etc. Although a Mediclaim policy just like Health Insurance Policies offer family floater plans which means one could cover multiple family members in a single policy. This means parents, spouse and children, all could be covered in a single policy.

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dbn actuaries pty ltd

dbn actuaries pty ltd provides actuarial advice and strategic insight to the private health insurance sector in Australia. With strong expertise in private health insurance, dbn actuaries provide various services which include industry analysis, Appointed Actuary role, Financial Condition Reports, product development and pricing, risk equalization, risk and capital management, strategic and business planning, financial and statistical analysis and demutualization, mergers and acquisitions.

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Spotlight

dbn actuaries pty ltd

dbn actuaries pty ltd provides actuarial advice and strategic insight to the private health insurance sector in Australia. With strong expertise in private health insurance, dbn actuaries provide various services which include industry analysis, Appointed Actuary role, Financial Condition Reports, product development and pricing, risk equalization, risk and capital management, strategic and business planning, financial and statistical analysis and demutualization, mergers and acquisitions.

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