Health Insurance vs Mediclaim Difference Many people are sold Mediclaim by the insurance agent in the name of health insurance. In such a situation, to avoid this deception, you should know the difference between the two.
People make a lot of mistakes while taking health insurance. The biggest common mistake in that is that people make the mistake of considering Mediclaim as health insurance. Very few know the difference between Mediclaim and Health Insurance. Let us know what is the difference between the two.
What is Mediclaim?
Mediclaim is a type of insurance plan that provides financial assistance to the policyholder during a health emergency. It covers only the hospital expenses, while the medical expenses are borne by the policyholder.
What is health insurance?
Health insurance covers both medical and surgical. Along with this, the facility of cashless treatment is also available in health insurance. At the same time, all the expenses incurred before and after hospitalization are covered.
Difference between Mediclaim and Health Insurance
- Mediclaim covers only hospitalization expenses, whereas health insurance covers other expenses as well.
- Mediclaim cannot take add-on covers, whereas health insurance offers critical illness, maternity benefits and other add-on covers.
- The cover in Mediclaim is limited and does not exceed five lakhs in most cases. Whereas, the cover in health insurance depends on you and it can be in crores as well.
- Mediclaim is cheaper than health insurance because of the lesser coverage.
- Both Mediclaim and Health Insurance provide assistance in times of medical emergencies.
