Saturday , June 15 2024
Health Insurance vs Mediclaim Insurance: Know the Major Differences

Health Insurance vs Mediclaim Insurance: Know the Major Differences

The current generation is not as fit as our elderly people used to be. One of the biggest reasons why so many people these days are diagnosed with several types of health issues is the lifestyle they choose. The late-night parties on weekends, staying up all through the night to watch TV series on OTT platforms, eating junk regularly, drinking and smoking, and no physical exercise at all are some of the reasons why even people under 30s are now diagnosed with health conditions like diabetes, high blood pressure, etc. When you are diagnosed with a disease, you would obviously seek medical treatment. And medical treatments always come with high bills these days. This why buying a health insurance policy makes sense in every possible way.

Nevertheless, when we look for a health insurance policy, we also come across medical insurance policies. Are they the same? Will they give us equal benefits? So, let us talk abouthealth insurance vs medical insurancein length.

What is health insurance?

When you buy a health insurance policy, it will provide you coverage for medical as well as surgical costs. You can either pay the bill directly from your pocket and later get it reimbursed from the insurance company or inform the insurance provider and they will settle the bill with the hospital. The coverage provided under a health insurance policy is much more than the hospitalization expenses. It in fact much more than the coverage provided by mediclaim.

Various types of health insurance plans

Health insurance plans are of several types. Mentioned herein below are some of them:

  • Individual
  • Family Floater
  • Senior Citizens Health Insurance
  • Group Health Insurance
  • Specific Disease Health Insurance
  • Critical Illness Health Insurance

Some usual features of health insurance policy

Here are some of the most common features of health insurance policies in India:

  • In-patient hospitalization coverage
  • Pre and post hospitalization coverage
  • Tax Benefits
  • Cashless Facility
  • Maternity and Newborn Baby Coverage
  • Daycare Treatments
  • Coverage for Critical Illnesses
  • Pre-Existing Disease Coverage
  • Annual Health Check-Up Facility

What is mediclaim insurance?

It is also a type of insurance plan that provides particular financial support to the policyholders against health-related costs. It is much pocket-friendly and meets health-related emergencies. However, when you have mediclaim insurance, it will only provide coverage for hospitalization, and if there are any other medical expenses, those have to be taken care of by you.

Some usual features of mediclaim insurance policy

Here are a few features of mediclaim insurance policies mentioned below:

  • Coverage against hospitalization expenses
  • Specific Illness
  • Accident and emergency-related hospitalization

Benefits of Health Insurance and Mediclaim Insurance

As the benefits of health insurance and mediclaim are concerned, here are some of them mentioned herein below:

Tax Benefit

No matter which one you are buying, you will be able to avail of tax benefits under Section 80D. If you are looking for tax benefits, you can choose any of these, either a health insurance policy or a mediclaim policy.


As we talk about the coverage provided, you should go for a health insurance policy. The coverage provided under health insurance is much more than mediclaim.

Healthcare needs

The kind of health insurance plan you should choose depends on your health care requirements. This also depends on certain factors such as lifestyle, medical history, pre-existing illnesses, etc.


If you have a certain budget, it will be more sensible for you to choose a mediclaim policy. Choosing a health insurance policy can be a little expensive for you. Now that you are clear about the basic differences between a health insurance policy and mediclaim policy, you can look for options at the IIFL website.

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