Question

There are a number of Mediclaim policies that are available for Individuals? Discuss any two Mediclaim policies that you would prefer as an Individual and why?

06 Feb 2018
Answer :
Word Count : 588

Lot of individuals subscribe to mediclaim policies in the belief that they have adequate health insurance to address all health issues. This is not only inaccurate but might just prove a very costly oversight. Hence it is of utmost importance that we clearly understand the key features that differentiate mediclaim policies from health plans so as to opt for the best mediclaim policy in India for your family.

To be sure, mediclaim although a form of health insurance is far from adequate to cover the many illnesses and health conditions that have become so common given the stress and mishaps in everyday life.

The key feature of mediclaim is cover for hospitalization and treatment towards accident and pre-specified illnesses for a specific sum assured limit. The mediclaim premium is based on the sum assured.

The amount paid towards mediclaim premium for self/spouse/children provides tax exemption under section 80D for a maximum of Rs 15,000 with another Rs 15,000 benefit on premium of mediclaim policy for parents (Rs 20,000 if parents are senior citizens). Although, not advisable,

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