Medical insurance has emerged as the need of the hour. The advantage of having medical insurance can be succinctly summarized into, ‘takes care of your medical bills.’ In case of emergencies or even in regular situations, people may require medical care. Sometimes it’s affordable but how about when it’s not? Well, you will most definitely end up in a very sticky situation that requires monetary help. With medical insurance or a health insurance plan, you’ll never have to worry about that kind of situation and consequently, save a life!

The need of medical insurance has increased considerably over the last few years. Factors such as an increase in cost of living, inflation, medical expenses and various other factors can be attributed to this reason. Medical insurance can serve the need of taking care of your medical expenses, especially in times of emergencies. A Health insurance plan also serves this same purpose, but it facilitates a larger cover. It caters to covering medical expenses that can be incurred as part of the doctor’s consultation fees, medical tests, purchase of medicines, use of ambulance and X-rays and various other medical needs. In any case, they can prove to be very useful.

Corporate Insurance are group policies, under which employees of an organisation are covered under the medical insurance of one policy provider. In this case, the premiums are paid by deducting a part of the employee’s salary. In most cases, medical insurance or a
Health Insurance Plan is included as part of the employee CTC. Some companies also provide cover to their employees in case of accidents, or in other words accident insurance. This is kind of insurance serves the need for bearing medical expenses, exclusively for accident cases. Accident insurance provides additional rider benefits, which may not be covered under an ordinary health insurance plan. Mediclaim policies that pertain to these are usually bought on a professional basis. Drivers, sport car drivers, bike racers, etc. are usually the recipients for this kind of insurance.

Travel insurance, which is generally bought online, caters to medical insurance in foreign countries. This is because having a domestic medical insurance will not cover medical expenses arising in foreign countries. In the event of a foreign tour plan, it would prove to be more prudent to have travel insurance. There are several insurance companies in India that provide some of the best and the most beneficial travel insurance plans. Especially in countries like USA and Canada, where medical expenses are extremely high, travel insurance can and will prove to be a very beneficial and helpful companion.

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