Mediclaim policy: Know the features and its types

A mediclaim policy is a health insurance policy where the insurer reimburses the incurred expenses by the insured for treatment of your medical condition. If you buy the mediclaim policy, you can request reimbursement after submitting the bills to the insurer. 

If you go with the cashless treatment options, you do not need to worry about paying bills. The insurer will directly make the settlement of the accounts with the hospital. One of the essential features of the mediclaim policy is that it is valid for a specific time range. You quickly renew the policy at the end of the plan to get the benefits again. 

Features of mediclaim policy

In today’s lifestyle, people are suffering from various diseases and putting their health at risk. Buying the mediclaim policy helps you get financial assistance within the hour of requirements. Many people wish to purchase the mediclaim policy due to the following features. 

  • It is easily availed by the individual and the family
  • You can get the cashless facility at the network hospitals
  • It offers tax benefits on the annual premium. 

Types of mediclaim policy

Mediclaim policies are further divided into some types. You can choose the type of policy based on the requirements. Some popular kinds of mediclaim policies are. 

  • Individual policy 

As from the name, individual policies are that type of mediclaim policy only for one person. Only the designated person can get the benefits listed under this plan. 

  • Family floater policy

The benefits of the family floater plan are first limited to the individual only, but it can also further extend to their entire family. After that, all the benefits of the family floater policy are taken by the mediclaim policy. 

  • Senior citizen policy
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This type of policy is specially designed for people who are more than the age of 60 years. It can cover the hospitalization expenses of this particular age group. This policy is just like retirement benefits. 

  • Critical illness policy

When you fight life-threatening diseases such as kidney failure, cancer, heart disease, etc., hospital expenses badly affect your savings. So, in that case, the critical illness mediclaim policy helps to pay the lump sum of the amount to diagnose the disease. 

  • Mos bite protector policy

This type of mediclaim policy pays the lump sum if you are diagnosed with the diseases such as Dengue, malaria, fever, Zika virus, and Chikungunya. 

  • Personal accident policy

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


All the popular types of mediclaim policies are highlighted above in this article. It delivers all the essential information on the kinds of mediclaim policy. There are many types of mediclaim policies available in front of you. Every plan has different features and benefits that you can access. 

It may make the task difficult for you when choosing the better type. But their features make the work easier for you. So read and compare the benefits of all types and then select according to your needs. 

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