Medical Insurance

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:

United India Insurance Co. - Mediclaim Policy
The New India Assurance Co. - Medical Plans
ICICI Loambard - Online Medical Plans
HSBC - HealthFirst

*Terms and conditions may vary in different insurance companies