How is a health insurance plan different from a mediclaim policy?

Though the terms health insurance and mediclaim policy are used interchangeably, there are still some outlining differences between the two. A mediclaim is specific to hospitalization expenses, a health insurance is on the other hand more comprehensive and covers beyond hospitalization.

The differences are given below;

1. (a) A mediclaim only covers hospital related expenses.
   (b) A health insurance plan may also cover pre and post hospitalization charge, ambulance charges and compensation for all lost income. 
2. (a) Mediclaim works on the principle of indemnity wherein the hospitalization expenses incurred by the insured are reimbursed to him.
   (b) A health insurance plan works on the principle of benefits according to which a lump sum is given to the insured in case of an eventuality.
3. (a) In case of a Mediclaim the insured is allowed to make ‘n’ number of claims until the sum insured is exhausted.
   (b) Whereas in case of a health insurance plan, you can only make a claim once, since in case of an eventuality a lump sum is paid to the insured. Once claimed, there is no question of another claim.

To conclude, both the policies serve different purposes and play different roles, therefore it is advisable to have both. A mediclaim policy helps you to pay your bills, whereas a health insurance policy offers you a comprehensive health cover. In case of an eventuality, you can bank on your health insurance policy, whereas a mediclaim would reimburse you for your recurring health expenses.

PNB MetLife has launched a health insurance PNB MetLife Mera Mediclaim Plan which is combination of health insurance and life insurance.

Visit website to know more on Mera Mediclaim Plan, term plan and term insurance.

Whether you are trying to lose weight or making a shift towards a healthy life, understanding your BMI (Body Mass Index) is one of the first necessary steps you can make. The BMI calculator can indicate your body’s fat content based on your weight and height. Once you have a clear view of this, you can go through different health insurance plans on the PNB website and secure your future financially against the growing healthcare costs.