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 reimbursement of 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 to 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:
