Medical insurance in India is
gaining such a high trend that policies are out even for infants. It is
the buffer against medical emergencies. This cover is a hospitalisation
cover and reimburse the medical expenses incurred in respect of covered
disease /surgery while the insured was admitted in the hospital as an in
patient.
Different types of Medical Insurance are available here:
- Individual Medical Insurance
- Group Medical Insurance
- Overseas Medical Insurance
Calculation of Medical Insurance Amount/Premium:
The amount of
premium depends on the sum insured (amount of coverage) age of the
member and also if one is taking an individual or a group Insurance.
Premium can be paid on a monthly/quarterly/half yearly/ yearly basis.
Amount also depends on the company policies of the insured.
Medical Insurance Claim Procedure:
- An individual has a fill and submit the claim form to the insurer
- A claim representative, so appointed, analyses the expenses
incurred
- After submission of the medical expenses report, the claim is
cleared within 7-15 days. The number of days may vary from company
to company
Documents Required for Medical Insurance Claim:
- Hospital/doctor report
- Memo of expenses incurred
- Salary Slip
List of Common Insurance Companies Offering Medical Insurance:
