Explained: Types Of Mediclaim Policies In India & How They Work


When faced with a serious medical issue, having health insurance is among the most straightforward methods to reduce financial strain. People can get through these trying times with less worry about their finances thanks to the protection that this provides. We must acquire the most comprehensive and all-encompassing insurance coverage possible given how critical it is for us to have health insurance. It is best to purchase mediclaim policies that have a greater sum promised whenever possible because this will be of assistance to us through difficult circumstances. Because the market for health insurance is so large and there are so many different products available, we must be familiar with the fundamental characteristics of each category. Here we are sharing the details on types of mediclaim policies and how exactly they work-

Insurance for an Individual Patient

It is a form of insurance that exclusively protects the individual who purchases it, known as the policyholder. When determining the amount of coverage provided by the mediclaim policies in India, important considerations like age, lifestyle, and previous medical history are taken into account. The coverage pays for all of the costs that have been incurred in connection with any health-related emergency that the covered person has experienced. If you are opting for this type of policy then you must look for maximum coverage and ad-ons.

Policy for the daily cash benefit of the hospital

If you have coverage with a hospital daily cash benefit, your insurance carrier will pay you a predetermined sum for every day that you spend in the hospital. This sum is not contingent in any way on the actual costs of hospitalization that were incurred. Consider the following scenario: the amount of your daily cash bonus is always the same: 2,000 INR. This indicates that the insurer would pay a sum of 2,000 Indian Rupees (INR) for each day that people are admitted to the hospital, regardless of whether your actual hospitalization costs are more or less than this amount. 

Health Insurance that Covers the Entire Family

A family floater policy is indeed an insurance policy that provides coverage for the policyholder’s partner, kids, parents, and any additional family members who are financially dependent on the policyholder for a single, all-inclusive payment. In most cases, the premium is determined by the age of the person in the family who is the senior member. The protection provided is essentially identical to that of an individual health plan. The only notable distinction is that the mediclaim policies would provide protection for all members of the family using a single sum assured. 

A family floater plan is just a fantastic option to consider if you have young children or even have family members who do not suffer from significant health conditions. This is because the odds of your sum covered being exhausted are lower with this type of plan. 

Critical Illness Insurance Plan

When you are afflicted with severe disease or condition, the Critical Illness plan is meant to offer you financial assistance if you need it. This category of health insurance policy protects policyholders against catastrophic illnesses and injuries, including heart attacks, kidney failure, paralysis, strokes, cancer, and other related conditions. In most cases, if you claim the insurance, the insurer will provide a one-time settlement in the form of a lump amount.


You are encouraged to perform the necessary research and make a comparison of the various health insurance plans described above. You do have the ability to choose the ideal insurance mediclaim policies, giving you confidence that any potential medical issues would be covered.

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