Health Insurance Or Mediclaim Insurance: Busting The Differences - Greyfont

Health Insurance or Mediclaim Insurance: Busting the Differences


Health insurance and mediclaim insurance are two terms that are often seen used interchangeably. However, they are slightly different from each other. The major difference between the two is their area of coverage. Let’s discuss how differ they are from each other.


Decoding Health Insurance & Mediclaim insurance

Health is wealth, certainly it is. And these policies help you maintain the good state of your health by ensuring optimum healthcare without breaking your bank. A mediclaim insurance policy covers the expenses incurred towards hospitalization owing to an accident or illness. On the other hand, a health insurance policy despite including the hospitalization expenses covers pre and post hospitalization expenses, ambulance fee and so on. It is extensive in nature.


Difference between Health Insurance & Mediclaim Insurance

The basic difference between the two includes:


Health Insurance

Mediclaim Insurance

Extent of Coverage

Apart from covering the insured for pre and post hospitalization expenses, health insurance pays for the expenses such as ambulance fees, compensation for loss of income,

It doesn’t cover the expenses other than hospitalization expenses.

Sum Insured

The sum insured can be availed up to 6 cr.

Sum insured can be availed for more than Rs. 5 lakh


A health insurance policy with a rider like critical illness or personal accidental cover, the claim can be made only once as the sum insured given in one shot

With medical insurance, the insured can keep claiming the policy until the maximum sum insured is exhausted.


Hospitalisation is not always required in cases like day-care facility or domiciliary benefit

Hospitalisation is essential to avail the benefits under a mediclaim policy

Critical Illness Rider

Health insurance can be clubbed with critical illness rider where a lump sum can be offered at the time diagnosis of the illness.

It does not cover critical illness or other related expenses, unlike health insurance.


Apart from availing discount while buying the insurance, one an availed discount on premiums and on renewal.

Discount can be availed only at the time of purchasing the policy.


A health insurance policy offers lump sum amount towards specific illnesses

Mediclaim insurance always reimburses the actual medical expenses.


Our Tip: When deciding between the two, you should take into account your insurance requirement, the coverage and premium offered, your budget and other related factors. This will certainly help you zero down on the right type of insurance.


Wrapping it Up!

The growing cases of accidents and illnesses have made it compulsory to own health insurance. Another factor that abetting to its importance is the rising medical costs. Given that, you should be careful about the type of policy you are opting. Whether it is health or medical insurance, it should fulfill your needs. It is true that what works perfectly for others may not prove suitable for you. Therefore, a thorough analysis of your needs is essential before buying a plan. Moreover, comparing the plans in various grounds will aid you in getting the right policy with a sufficient health coverage.


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