Taking care of your health and having access to suitable treatments is a basic need. But with medical expenses increasing by the day, it is important to invest in a good mediclaim insurance to make sure that taking care of your health does not significantly impact your finances. 

However, it is also important to know which policy to choose. The benefits vary and while checking for the best mediclaim policy online, so many questions are raised. You need to find the best mediclaim policy for you, your spouse and your children, as well as any senior citizens that are dependent on you. 

In this article, we will discuss what a mediclaim policy is, its types, various benefits like the cashless mediclaim policy option and how to use a mediclaim policy calculator to determine the best mediclaim policy for you.

What Is A Mediclaim Policy?

Mediclaim policies offer a reliable solution to being financially secure during a medical emergency. Be it accidents, surgeries or any kind of illnesses, a mediclaim policy will cover medical expenses such as hospitalisation, lodging and treatment up to a certain amount.

There are different categories of mediclaim policies, such as:

• Individual: A policy-holder who falls under this category can avail hospitalisation and treatment cover for only one individual. 
• Family-floater: A policyholder can opt for a family-floater mediclaim policy and extend the benefits to other members of their family.
• Senior citizen: A policyholder who is more than 55 years of age can opt for a senior citizen mediclaim policy.
• Critical illness: This mediclaim policy covers individuals who are diagnosed with critical illnesses such as cancer, heart disease, kidney failure, liver failure etc.
• Personal accident: This policy provides cover for individuals when there has been an accidental death, permanent disability, partial disability, temporary disability etc.

There are also different options on how one can avail the benefits of the policy. You can apply for reimbursements by submitting the bills to the insurance company, which will get approved and then be credited back to your account. You can also go for a cashless mediclaim policy, where the insurance company directly handles transactions with the hospital. However, this facility is only available at hospitals that are in the insurance company’s networks. Hence, it is advisable to do thorough research before opting for the same.

What are the Advantages of Using a Mediclaim Policy Calculator?

Due to the varied number of options available in the market, it can be a daunting task to determine which is the best mediclaim policy. Some may work well for individuals, some for groups or some may be the best mediclaim policy for senior citizens. Insurance is an investment. So, you need to consider a variety of factors such as premium, coverage, claim settlement ratio etc. This is where a mediclaim policy premium calculator comes in handy.

Using a mediclaim premium calculator has many advantages:

• You get a clear idea of the best mediclaim policies out there.
• You save time as you get quick and error-free results.
• There is no need to contact an insurance agent at this stage.
• It gives you a basic idea of the premiums and covers that are best suitable for you.
• It requires no paperwork.
• It makes the process of buying a mediclaim policy hassle-free and easy.

Hence, by utilising a mediclaim policy calculator, you can arrive at a simple and optimal decision for yourself and your loved ones.

How to Calculate Premium using a Mediclaim Premium Calculator?

There are various premium calculators out there to help you choose which is the best mediclaim policy. Niva Bupa’s mediclaim policy calculator helps you examine the best policies with affordable premiums and a comprehensive coverage package. It also has a cashless mediclaim policy option with a network of over 9,000 hospitals across the country.

The process of using an insurance calculator to estimate the premium of a policy is quite simple:

• Visit the Niva Bupa premium calculator page
• Enter your number, age, and city and select ‘View Plan’
• Enter the type of policy you would be needing such as individual or family-floater and enter the number of people to be insured
• Click on ‘Get Quote’ and see the list of policies that are best suitable for you

With skyrocketing expenses and increased health risks, a health insurance policy is a necessity rather than a luxury. A mediclaim policy premium calculator is an essential tool for anyone looking to invest in a health insurance policy. It helps you estimate the premium amount, compare different policies, plan your finances, and make an informed decision.