Health Insurance/Mediclaim provides protection against the rising hospitalization costs. Mediclaim is a cover - given by an insurance company - which pays for the hospitalization expenses at a particular premium (cost), in case of a sudden illness, accident, surgery, or in case of other ailments covered under the policy. The insurance company provides either direct payment (cashless facility) or reimburses the expenses associated with illnesses and injuries.

Healthcare is becoming increasingly expensive. Think for a moment about the enormous medical costs you would incur if you suffered a major accident tomorrow or were suddenly struck by an illness. Uninsured people live with such risks every day. Health insurance seeks to shield you from that risk. It provides the much needed financial relief. You also get tax benefit under section 80D of the Income Tax Act.

Though the features may vary from policy to policy and company to company, some basic features/benefits are: 1. Reimbursement of hospitalization costs due to illness/disease/ surgery. 2. Pre-hospitalization and post-hospitalization expenses 3. Ambulance Charges 4. Cashless facility 5. Income Tax Benefit, etc.

Health Insurance in India covers Medical Expenses occurring during hospitalization for a minimum period of 24 hours are covered. However, in case of treatments like dialysis, chemotherapy, lithotripsy, radiotherapy, eye surgery, dental Surgery, tonsillectomy etc, the time limit of 24 hours is not applicable. This list varies from policy to policy.