April 12, 2024

Why You Should Get a Mediclaim Policy

In the limited scope of today’s stagnant lifestyle, people are at a high risk of suffering from various diseases. Purchasing a medical policy can help you get financial assistance in your hour of need. Read on to learn about the mediclaim policy and its importance. 

What is a Mediclaim Policy?

Mediclaim, often referred to as mediclaim insurance, is a form of health coverage that mitigates your risk in monetary terms. It covers your hospitalisation expenses along with any specific ailments and treatments that you incur during hospitalisation.

Types of Mediclaim Policy

There is a range of mediclaim policies known in the market. All you ought to do is to select the one that best serves your needs. 


Furthermore, policies are obtainable for individualsfamilies, couples, and even extended families. An individual mediclaim policy provides coverage to a single insured person. In contrast, a family floater plan offers coverage to individuals and their family members under a single sum assured. There is also a group mediclaim policy for employees that covers employees along with their extended families. Apart from this, the mediclaim policy has more types, depending on specific requirements:

Senior Citizen Policy

This policy is designed especially for people who are more than 60 years old. It covers all hospitalisation expenses of that age group. 

Critical Illness Mediclaim

While battling life-threatening diseases like cancer, kidney failure, heart disease, etc., hospital expenses quickly deplete your savings. A critical illness policy helps curb those expenses by paying a lump sum amount on diagnosis of the disease. 

Mos-Bite Protector Policy

This policy pays a lump sum amount if you are diagnosed with any vector-borne diseases like Dengue fever, Chikungunya, Malaria, and Zika virus.

Personal Accident Policy

It offers protection against accidental death, temporary total disability, permanent total disability, and permanent partial disability.


You can avail of a mediclaim policy cover for a pre-specified sum along with tax benefits under section 80D of the Income Tax Act. Such a deduction under the tax laws can also be availed for the insurance premium paid for your family (spouse, children, and parents).

Why do you need a Mediclaim Policy?

Skyrocketing healthcare expenses have made mediclaim policies essential to make quality healthcare accessible for everyone. Anyone who cannot bear the rising hospitalisation costs and medical care expenses must invest in the best mediclaim policy. It not only acts as a financial cushion for you and your loved ones but also gives you peace of mind, making it a perfect investment option. 


Mediclaim insurance presents a financial cushion in case of medical emergencies. But, at the same time, it provides various benefits such as:


  • Low financial burden: A mediclaim policy prevents any financial stress during medical crises. This allows the insured to have some peace by eliminating out-of-pocket expenses while dealing with health conditions. 


  • Cost-effective: Mediclaim policies are an affordable way to combat increasing healthcare costs.


  • Cashless facility: Mediclaim insurance offers a cashless hospitalisation facility where the policyholder doesn’t have to spend any money from their pocket during medical emergencies. The insurance provider settles the medical bills directly with the network hospitals.

Buy the Best Mediclaim Policy in India

The best mediclaim policy will cover you against a wide range of medical expenses, including daycare expenses, pre- and post-hospitalisation expenses, hospital room charges, consultation fees charges, diagnostic tests, no-claim bonus, etc. Niva Bupa offers comprehensive coverage and benefits that ensure you have a sound financial support system in times of need. With Niva Bupa’s cashless network of 7600+ hospitals and 2000+ doctors, your health will be in good hands. 

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