Health issues are something that we all develop at some point. And these days, people develop health issues very easily because of their sedentary lifestyle. When we have some kind of ailments or health condition and we need to visit the doctor or get any treatment, a major chunk of our money goes. This is why it is very important to buy a health insurance policy.
As you buy a health insurance policy, you will get coverage on several things such as hospitalization, pre-hospitalization, post-hospitalization, surgery, medication expenses, consultation with the doctor, etc. Medical costs are usually very high; therefore, by buying a health insurance policy you will be able to save a lot of money.
While we plan to buy a health insurance policy, the toughest part is choosing a particular policy. You will usually find several insurance companies that provide health insurance policies and more or less the features are almost the same. This is why the confusion increases even more. Well, when you start looking for a health insurance policy, you will also come across medical insurance policy. You might get confused and which is why you should read this piece of information. So let us discuss health insurance vs medical insurance here today.
With a health insurance policy, you will get comprehensive coverage. The coverages include hospitalization cost, pre and post hospitalization cost, ambulance expense and room rent, and many more. You can even get health insurance coverage for critical illnesses, maternity coverage, etc.
Types of health insurance plans
There are several types of health insurance plans that you will get in the industry. Here are some of them mentioned below:
- Family Floater
- Specific Disease Health Insurance
- Group Health Insurance
- Critical Illness Health Insurance
- Senior Citizens Health Insurance
Some common features of health insurance policy
Health insurance policies come with certain features. Mentioned below are some of them:
- In-patient hospitalization coverage
- Pre and post-hospitalization coverage
- Cashless facility
- Daycare treatments
- Maternity and newborn baby coverage
- Coverage for critical illnesses
- Tax benefits
- Annual health check-up facility
- Pre-existing disease coverage
A medical insurance policy is limited in the costs that it covers as compared to a health insurance policy. If you buy a medical insurance policy, only the hospitalization costs will be covered, However, the policyholder has to be hospitalized for a minimum period of 24 hours. In a medical insurance policy, you will get treatment towards pre-specified diseases, and accidents for a pre-specified or limited amount.
A few common features of a medical insurance policy
All the medical insurance policies come with some features. Here are a few of them mentioned below:
- Coverage against hospitalization costs
- Hospitalization for any accident and emergency
- Specific diseases
Difference between health insurance and medical insurance
To understand the difference between these two, here are some points that you can go through.
A health insurance policy comes with comprehensive coverage which includes preventive health check-ups, hospitalization, critical illness, ambulance, etc.
A medical insurance policy comes with hospitalization coverage for a particular disease and for a specific amount. However, the policyholder needs to be hospitalized for at least 24 hours. It only covers the hospitalization costs and nothing else.
Availing of benefits
To avail of the benefits of health insurance, you do not have to be hospitalized.
To enjoy the benefits of medical insurance, hospitalization is required.
Number of claims
In health insurance, you can claim the lump sum amount only once.
In medical insurance, you can make several claims up to the sum insured is exhausted.
Read Also: Y2mate Com – Youtube Video Download
The sum insured in a health insurance policy can go up to a few crores.
The sum insured in a medical insurance policy goes up to INR 5 lakh.
If you want to find more information on the differences between a health insurance policy and a medical insurance policy, you can visit the IIFL website.