Domestic or regular health insurance in India is also popularly known as mediclaim policy. The mediclaim policy coverage is most useful when a person is in a medical emergency and gets hospitalized for more than 24 hours. The reason for hospitalization can be for an illness, injury or accident. Mediclaim insurance coverage assures quality health care access for the insured when the insurance company bears the medical expenses. There are different types of coverage offered under Mediclaim with maximum sum varying from Rs 1 Lakhs to Rs 50 Lakhs. Many mediclaim insurance policies are available online for quote comparison and purchase.
Individual and Family Floater
These are the most popular type of coverage under mediclaim and many insurers have attractive benefits and premium cost offers. The coverage under Individual and family floater has its own advantages. Individual mediclaim insurance covers separately and hence the chance of exhausting fully the complete benefits is minimal. Family floater mediclaim is where you pay a single premium amount to get coverage for all the members in your family and it becomes cheaper.
Bigger or extended family mediclaim coverage
A typical family floater mediclaim insurance coverage will cover for parents and children and not other relatives under single plan. There are insurance companies who have designed bigger family mediclaim insurance which can cover for more relationships. Some of the plans can also cover your extended families.