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Here's How Mediclaim Policy Saves You from Medical Inflation

Mediclaim policy is a kind of insurance coverage that can alleviate financial stress during a medical emergency

Monday May 11, 2020 11:28 PM, IANS

How Mediclaim Policy Works

You often heard about the rising cost of medical treatment, it is because of the advance medical trends and development that increases the cost of medical supplies. These life-savings innovations bring new hopes for the people who are suffering or surviving from critical illnesses such as heart disease or cancer. So, somewhere medical inflation outweighs the negative.

However, the cost of new medicines and treatments are taking a toll on the pockets. In such a situation, the best mediclaim policy can save you from galloping medical inflation. Let’s understand how?

Mediclaim Policy

Mediclaim policy is a kind of insurance coverage that can alleviate financial stress during a medical emergency. You can get it for yourself or your loved ones.

In Mediclaim you either opt for cashless facility or reimbursement as a claim. It helps you to avail the best possible treatment in the leading hospitals without losing your hard-earned money and secure your family.

Features of Mediclaim Policy

It acts as a safeguard for you and for your family that protects you from sudden medical shocks. The basic features of the Mediclaim policy are:

• Cover pre and post hospitalization expenses
• Claim can be cashless facility or reimbursement up to the sum insured
• Minimum 24 hours hospitalization is required to file the claim
• Lifelong renewability is easily available
• No upper age for enrolment
• Additional covers for chemotherapy and radiotherapy
• Tax benefits

How Mediclaim Policy Saves You from Inflation?

If you diagnosed with any serious illness, then you always want to get treated in the best hospital so that to live a healthier and longer life.

For treatment, you approach multi or super-specialty hospitals in the city. But, the health care services in such hospitals are too high that it becomes out of the pocket expenses. Thus, here how Mediclaim policy helps you:


A comprehensive Mediclaim policy helps you to stay protected and remain financially undisturbed during hospitalization. You can get the claim in two ways either a cashless facility or by reimbursement against all medical expenses. With this policy, you can to the leading hospitals for advanced medical treatment and recover faster without being worried about money.

Cover Recurring Costs

Nonstop increase in pollution, sedentary lifestyle, unhealthy eating habits, and work stress invite several unwanted diseases that require on-going expensive treatment. A sound Mediclaim bear all your recurring costs for your on-going treatments and you do not need to pay anything out of your pocket for your treatment. You can save that money to combat the ill-effects of inflation in the coming future.

Annual Health Check-Ups

Mediclaim offers annual health check-ups that also save your money. All insured people under medical policy get these annual health check-ups. So, you do not need to spend a bunch of money over the health check-ups and diagnosis every month. With the facility of annual health check-ups, you can keep track of yours as well as your family’s health. These check-ups alarm you if there is a chance of any major health issue in the future.

Tax Savings

You can also avail of tax benefits under the Mediclaim policy. According to section 80D of the Income Tax Act of India 1961, the premium paid against Mediclaim policy for self, parents, spouse, and children qualifies for deduction up to Rs.60, 000. However, the quantum of tax benefit depends on the age of the insured. It also reduces your taxable income and shows less tax liability.

Peaceful Life after Retirement

Buy Mediclaim policy online to have a peaceful life after retirement. With the right medical cover, you do not need to worry about treatment or hospitalization expenses once you will have no fixed income. You can save your hard-earned money and can invest for different purposes to enjoy the second innings of your life.

Bottom Line

Life never fails to give you surprises but you can make this journey a stress-free affair while opting for the right Mediclaim. Several companies are offering Mediclaim plans with fake promises.

But, you should be watchful and opt for trusted brands like Religare Health Insurance. With the access of 7400+ network hospitals, 93% of claim settlement ratio, and approval in 2 hours, it is the leading health insurance provider that you can bank upon for comprehensive medical policy. So, think proactively and plan for your future wellbeing now.

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