Medical and Health Insurance (MHI), is an insurance policy which is designed to cover the cost of private medical treatment, which can be very expensive, especially with hospitalisation and surgery. MHI also ensures that you won't have to worry about the cost of seeking treatment during emergencies. In addition, MHI also provides you with an income stream while you undergo treatment.
This policy provides for hospitalisation and surgical expenses incurred due to illnness covered under the policy.
This policy gives you a lump sum benefit upon diagnosis of any of the 36 dread diseases or specified illnesses. For a list of the 36 dread diseases, contact a licensed insurance company for details.
This policy proivdes an income stream to replace a portion or your pre-disability income when you are unable to work because of sickness or injury.
This policy pays you a specified sum of money on a daily, weekly or monthly basis, subject to an annual limit, if you have to stay in a hospital due to covered illness, sickness or injury.
Insurance companies offer MHI policies either individually or in combination. When buying a policy, always :
Your employer may have already taken out a group plan where either your employer pays the premiums or you pay the premiums on your own. You should get details on the terms of the policy as well as its coverage. Even if you do have a group plan, you should look into getting an individual plan, because only you can customise it to meet your needs, but you also wouldn't have to worry about losing insurance coverage if you change jobs.
Each policy offers different benefits, and different insurance offers different scopes of coverage. Some insurance companies also offer comprehensive policies which offer more coverage than just the basic insurance cover.