Difference between Health Insurance and Mediclaim

Following are the important points of difference between a traditional health insurance plan and mediclaim:

1. A health insurance plan offers extensive coverage in times of any health-related emergency and generally, this coverage includes pre and post hospitalization benefits, medical consultation fee, costs against nursing, etc. However, a mediclaim policy offers coverage that is generally restricted to hospitalization and incidence of any specific illness.
2. The scope of mediclaim policies is limited when viewed in comparison with health insurance plans. Health insurance plans offer detailed coverage that includes not only hospitalization but added benefits as well. The range of offered coverage includes multiple benefits as well as post-hospitalization and recuperation as well. This is not so with a specific mediclaim policy because it is restricted to pointed benefits.
3. A standard health insurance plan also comes with additional riders or extra benefits that act as add-ons to the main plan benefits. However, this is not so with a mediclaim policy. A mediclaim policy does not offer any coverage in the form of riders and as such, as mentioned previously, the scope of coverage is quite limited.
4. One more important point of difference between a health insurance plan and a mediclaim policy is that the sum assured in case of a standard health insurance plan is far greater than what is offered with a mediclaim policy. A mediclaim policy does not entitle a policy holder to a coverage that can exceed Rs 5 Lac. This is not the case with a health insurance plan.
5. One more point of difference is in the mode of disbursement. With a health insurance plan, in the event of a critical illness or any accidental disability, the sum assured i.e. the main plan benefit is paid as a lump sum. However, with a mediclaim policy, the mode of disbursal is continual in nature and the reimbursement continues until the whole sum assured is paid.

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