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Difference Between Mediclaim and Health Insurance Explained

Do you think you are healthy? Well, if yes, we are happy for you. But are you 100% sure you will be healthy in the future too? No, none of us are. It is better to plan for yourself and your loved ones and be stress-free in the future.

You don’t know where to start from right? Don’t worry, we are here to help you😊

There are two ways in which you can avail the best benefits in case of medical emergencies, one way is having a Mediclaim and other is to have a health insurance plan. We will explain you about both which will help you evaluate better.

What is Mediclaim?

Mediclaim is a health insurance policy that gives you specified financial protection at the time of medical emergency. It takes care of all the following expenses when hospitalized;

In case of an accident
In case of sudden illness or surgery
In case of any surgery during the policy tenure

There are two types of Mediclaim-Cashless and Reimbursement.

What is Health Insurance?

Health insurance is an insurance cover that gives you complete coverage for medical and surgical expenses in case of emergencies. If you have a health insurance, you either pay expenses out-of-pocket which is later reimbursed by your insurance company or the insurance company settles the bill directly with the hospital.

Both sounds similar right? But you will be surprised to know the differences between the two.

Team Digit

Difference between Health Insurance and Mediclaim

Mediclaim	Health Insurance
Mediclaim gives coverage against only hospitalization expenses; i.e you can only claim for this if you’re hospitalized only.	Health insurance offers a comprehensive cover that extends further than just hospitalization expenses. Some of these expenses include annual health checkups, daily hospital cash, OPD expenses, and alternative treatments AYUSH, among others.
There are no add-on covers with Mediclaim.	There are numerous add-ons covers such as Critical Illness Cover, Maternity Benefit and Infertility Cover, etc.
The hospitalization cover in Mediclaim is limited and does not exceed Rs 5 lakh.	The health insurance cover is extensive and is decided based on age, city, number of members in a single plan, etc.
Mediclaim is not flexible.	Health Insurance plans are flexible and can be customized too.

Benefits of Mediclaim & Health Insurance

Benefits of Mediclaim

You can get immediate coverage from medical expenses when you are hospitalized
If you opt for Cashless Mediclaim policy, your insurer directly pays for the expenses
If you opt for Reimbursement, your money will be reimbursed by the insurer

Benefits of Health insurance

Gives you a comprehensive coverage
Provides you with numerous add-ons
You can opt for a Family Floater Health Insurance plan to cover all family members under one collective health insurance policy.
Pre and Post hospitalization expenses are covered
Gives you the option to opt for a Critical Illness cover
You can opt for benefits like Outpatient benefit, Maternity Benefit, Restoration benefit, etc.
For your parents, you can opt for a specific senior citizen health plan.
Cashless claims are available

Which one should you buy, Mediclaim or Health Insurance?

Your decision will depend on several factors, such as:

Your financial condition
Health issues you and your loved ones are dealing with
Whether you believe in long term or short term planning
Whether you need flexibility in your health plan or not
Whether you would need add-on covers and benefits
Willing to pay high or low premium
Keep in mind yours or your family members age, life stage, medical condition

Choosing one out of the two is not difficult if you know what will be best for you and your loved ones keeping all the factors mentioned above in mind. And if you need more information, get in touch! We are always ready to help you.

Important: Learn more about the benefits & what's covered in Coronavirus Health Insurance

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Disclaimer #1: *Customer can choose options at the time of availing insurance. Premium amount may vary accordingly. Insured is required to disclose any pre-existing condition or on going treatment before policy issuance in the proposal form.

Disclaimer #2: This information is added only for informative purposes and collected from different sources across the Internet. Digit Insurance is not promoting or recommending anything here. Please verify the information before making any decisions.

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CIN: U66010PN2016PLC167410, IRDAI Reg. No. 158.

Go Digit General Insurance Limited (formerly known as Oben General Insurance Ltd.) - Registered Office Address - 1 to 6 floors, Ananta One (AR One), Pride Hotel Lane, Narveer Tanaji Wadi, City Survey No.1579, Shivaji Nagar, Pune-411005, Maharashtra | Corporate Office Address - Atlantis, 95, 4th B Cross Road, Koramangala Industrial Layout, 5th Block, Bengaluru-560095, Karnataka | Trade logo of Go Digit General Insurance Ltd. displayed above belongs to Go Digit lnfoworks Services Private Limited and is provided and used by Go Digit General Insurance Ltd. under license.