Mediclaim Insurance policies are indemnity-oriented plans. They reimburse the policyholder the cost of medical expenses up to the sum assured. The policyholder is required to submit hospital bills detailing the actual expenses incurred, and a successful claim can be either cashless i.e. directly to the healthcare provider, or to the policyholder as a repayment.
Mediclaim Insurance policies are indemnity-oriented plans. They reimburse the policyholder the cost of medical expenses up to the sum assured. The policyholder is required to submit hospital bills detailing the actual expenses incurred, and a successful claim can be either cashless i.e. directly to the healthcare provider, or to the policyholder as a repayment. These policies may have some limitations while providing cover for critical illnesses, heart and cancer disease which may require special health insurance cover or fixed benefit cover plan.
In comparison, fixed benefit health insurance plans give you cover against specific diseases or conditions including heart ailments and cancer. These new-age policies give you the claim amount on first diagnosis irrespective of the actual medical costs. You don’t need to find a network hospital or file for reimbursement claims. This is because fixed benefit health insurance plans send you the cover amount as soon as a diagnosis is made. So, you can get treated at a hospital of your choice.