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Why Should You Have a Mediclaim?

Posted by Royal Sundaram on 19 Mar 2020

A mediclaim is health insurance plan that covers hospitalization charges as per plan terms and conditions when the policyholder and people covered under it are admitted due to an ailment or accident. Having a mediclaim is important to ensure that funding is not an issue whenever there is a medical emergency. Also, since after almost every few years, there is a new disease paralyzing the lifestyle, the uncertain healthcare costs can lead to unplanned and paramount expenses.


What is health insurance?

Health insurance is an insurance policy that allows people to receive compensation against their medical bills from the insurance company in case of an accident or disease. The compensation is made as per the terms and conditions of the underlying agreement and percentage as promised under the same.


Why should you have health insurance?

The increasing unpredictability of life has made health insurance a necessity in these times. In light of the recent Coronavirus outbreak, the uncertainty has increased even more. Since the treatment for this vector-borne disease is unknown, the quarantine and treatment costs are quite high. A health insurance Coronavirus is the need of the hour.


What are the benefits of having a mediclaim?


Having a mediclaim has several benefits, especially during the times of an emergency. These are:


  1. 1. Cashless transactions: In a cashless settlement, you will only be required for the initial credential sharing and verification. The insurance company gets in direct contact with the hospital for payment purposes.
  2. 2. In-hospitalisation and quarantine expenses: For people detected positive COVID-19, the IRDAI has instructed all insurance companies to cover both quarantine and in-hospitalization costs under the same health insurance as is their existing policy.
  3. 3. Room and check-up costs: The entire room rent and medical check-ups related to the treatment of Coronavirus would be covered under your existing insurance policy.


Depending upon your family history of ailments and the number of dependents, the most suitable insurance policy can be selected. One of the primary factors that need to be considered while buying health insurance is the premium amount. A health insurance premium calculator can be used to determine the premium amount online by keying in basic inputs like insurance type and family size.




Having a mediclaim is always a great help in times of medical emergency. It will ensure you and your family receive the best-in-class treatment without worrying about costs.

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