Sign In

Does a Mediclaim policy actually make a difference?

​Imagine you are a football coach and your team is full of breathtaking attackers and midfielders. They are more than enough to create a plethora of chances and getting you a plenty of goals. But does the team seem complete? Definitely not! You can’t even feature a team without defenders and most importantly a competent goalkeeper.
Similarly, a Mediclaim or Health Insurance policy is like a goalkeeper in your versatile portfolio. However, the smoldering query perseveres. Is health insurance coverage really needed, especially if you are young and/or healthy? 

Well, let’s take Rohit’s example to answer our question.

Rohit is an IT professional in his mid twenties. He is an ardent health freak and visits the gym regularly. Considering his fit lifestyle, he believes, he can afford sporadic visits to the Doctor and the related medication rather than buying a health insurance policy. But unfortunately, Rohit’s car meets with a dramatic accident and a major chunk of his savings are wiped away just in a few weeks time.

In the recent age of exorbitant medical inflation rates, not holding a decent medical insurance cover can lead to a radical financial tragedy. Lack of sufficient health insurance could force you to go through substandard health care in a below par hospital or prove to be a major setback to your financial goals due to the exorbitant medical expenses.

Hence, ensure that you buy a mediclaim policy from an early age. When you are young and hearty, a health insurance policy is extremely cost-effective and offers a wide-range of coverage as compared to those bought in an older age.
Once, one gets older he/she is exposed to unhealthy eating habits, crazy work schedules, and a pretty sedentary lifestyle. As a result of such a lifestyle, individuals are plagued with obesity, diabetes, and several cardiovascular diseases.

In addition, there is an important saying in insurance “Buy health insurance when you don't want it, because you may not get it when you want it.” Which implies it is imperative to prepare for an unexpected medical circumstance right from an early age. Another popular benefit of buying insurance early is the cumulative bonus. This bonus is awarded to the customer at the end of each claim free policy period.  So in other words, insurance rates are inversely proportional to history of the policy. i.e. New customers would pay more while existing customers would pay less for the same policy.

Lastly, a lot of the diseases covered by the policy have a waiting period. Which means you will have to wait for some duration for the policy to cover all the diseases. This is just another reason to be covered by a mediclaim as early as possible.

Hence, having a world-class goalkeeper is of paramount importance to the team’s success. No wonder the team with the best goal-keeper of the tournament has always won the Football World Cup.