Before purchasing best health insurance plans or best medical insurance plans, analyze the thin line between the two to avoid any sort of dilemma in the future.
- Medical insurance will provide you coverage only for hospitalization, pre-specified ailments and accidents that too for a pre-specified amount while health insurance will provide you with comprehensive coverage against hospitalization expenses, pre-hospitalization and post-hospitalization expenses and ambulance charges. So, it is clear at some point looking for health insurance best price can lead to a far better option for you rather than going for cheap medical insurance.
- Medical insurance will not provide you with any add-on coverage while health insurance, on the other hand, offers add-on coverage such as critical illness, accidental disability, etc.
- Medical insurance doesn’t offer any flexibility in terms of coverage while health insurance do offers some. Plan holders can reduce their plan duration, health insurance premium amount after a certain period, etc.
- Medical insurance doesn’t provide the insured with the critical illness cover while health insurance provides the insured with critical illness cover for diseases like cancer, heart attack, etc.
These were some of the differences between medical and health insurance plans.
Different insurance plan have different benefits and the person must take a sensibleopinion before opting for any plan. Both the above-mentioned plan are equally beneficial for the health-related issues and the thin line between the said plans must be understood well by the individual before reaching toany decision.
Different Types of Medical Insurance Plans
- Individual Medical Insurance Policy
Individual health insurance policy provides coverage of a specified amount to the person insured.
- Family Floater Medical Insurance Policy
Under this policy, if the insured person in a family reaches a certain age or dies, then the policy for that person will be closed and the family members will not be allowed to renew the policy.
- Pre-existing Disease Cover Policy
Under this plan, the policyholder will get a cover for all those diseases he had before purchasing the health insurance plan.
- Renewability Age
All the policies provide coverage for a year only. Therefore, one should buy the plan at an early age to receive better coverage at a low premium and other added benefits.
Things to know about the Medical Insurance?
The medical insurance plans offer a limited coverage to hospitalization expenses and treatment towards the previously detaileddisorders and mishaps. Medical insurance doesn’t offer any add-on coverage like health insurance. It is based on the sum assured.
There are two types of claims under the medical insurance plan:
- Cashless
In the cashless claim, the insured is treated at the hospital which is covered by the insurance company. The insurance company will bear all the hospitalization expenses and the person insured will not have to pay any amount.
- Re-imbursement
In Re-imbursement claim, the insured must inform the insurance company about the hospitalization either in advance or at the time of getting admitted. In addition to this, all the originals should be kept handy at the time of reimbursement claim.
For more info : - Cheap Health Insurance Plans
