Health Insurance

What is Health Insurance?
We do not know when we can get ill or meet with an accident. Emergency can happen anytime not only with you but with your family members too. Many times this all happens so suddenly that we have not even planned for this. During such time we might not have enough money to get hospitalized and get proper treatment. In lack of emergency treatment anything misfortune can happen. To avoid this it is advised to take at least one if not more medi claim policies. Medi claim is a word used in India for health insurance.

Health Insurance is an insurance taken against the medical expenses that provides the coverage against the medical costs arising from any disease treatment or accidental injuries. Terms and conditions for all kind of health care policies are not the same they vary as their costs also vary. Few provide full health care insurance of all types of treatments while few provide for few diseases only. The treatment can be taken from any hospital or nursing homes that are in panel with the insurance companies. Any discrimination of arguments are generally sort out by jurisdiction of state or some legal authority.

One can go for individual health insurance or can combined insurance of his family members also if wants. Many corporate offices also provide this facility to their employees.

How does Health/Media claim Policies work?

If you want to go for health insurance, you will have to pay an annual or semi annual premium to insurance company. The premium amount varies with the policy. The more the premium you pay, the more coverage you can avail. You can claim the coverage one time or multiple time during the policy period. For example you have an health coverage of Rs. 100, 000/- for one year. During emergency you can take its benefit and get the medical bills reimbursed up to Rs. 100, 000/- one time or can claim more than one time whenever required in a year.

This can happen in two ways as below:

1. You can pay the bill from your pocket and later on claim in the insurance company for the reimbursement.

2. Another way is if you are hospitalized then insurance company can pay directly to the hospital. This is called cashless treatment.