Things to Consider While Buying a Mediclaim Policy in 2024

Jan 12, 2024 Reading time : 4 min

Medical expenses can quickly add up, especially if you or your family need hospitalisation for a serious illness or injury. Having a mediclaim policy helps relieve some of that financial burden by providing coverage for expensive medical treatments. 

Mediclaim policies also give you peace of mind knowing that you are financially covered in the event of an accident or illness. With the ever-increasing cost of medical care, having sufficient mediclaim policy coverage can get you good quality, affordable medical care. 

However, before buying a mediclaim policy, you must consider the following factors. 

What to Consider When Buying a Mediclaim Policy?

Before buying a mediclaim policy in 2023, here are the things to keep in mind: 

Type of Plan 

An adequate mediclaim policy is an essential part of your health insurance. Before making any significant choices, carefully weigh the kind of coverage that would best meet your needs. 

There are several mediclaim insurances available, and the best one depends on your unique situation. Factors such as age, health, family size and existing medical cover must be considered when selecting from the available options. It is recommended to do proper research to find the most suitable plan.

Pre-existing Disease 

It is essential to understand any pre-existing diseases before taking out a mediclaim policy. Pre-existing medical issues can raise the cost of your getting a mediclaim policy and reduce the amount of coverage. It is essential to know about any pre-existing medical conditions that a person or their family may suffer to make a wise decision when buying a mediclaim policy. 

It is essential to note that some policies may not cover certain pre-existing illnesses. Some mediclaim policies may also require higher premiums for those who are already suffering from an illness. Before acquiring medical insurance claim, ensure you read the terms and conditions.

Cover Amount 

Choosing the right medical insurance policy with an appropriate coverage amount is essential. Before selecting a policy, you should consider the coverage amount according to your needs and budget. 

Evaluate the diverse options available in the market and compare them based on the coverage amount, premium rates, renewal premiums, exclusions, claim settlement process, additional benefits, etc. Going for maximum coverage rather than settling for a plan with a low premium is the best idea. 

Also, Read This: Providing the Best Health Insurance for Parents


When buying a mediclaim policy, renewable options must always be considered. Renewable policies allow policyholders to renew their existing policy without purchasing an entirely new one. 

Renewability offers a degree of flexibility that can be very beneficial in the long term. Furthermore, renewable policies often come with cheaper premiums than non-renewable policies, making them more budget-friendly. 

Network Hospitals 

Look at the number of network hospitals an insurer has when purchasing a mediclaim policy. Having access to a wide range of network hospitals can help you get medical treatment at a hospital of your choice. 

By looking for insurers with a wide range of network hospitals, you can ensure access to the highest quality care, even during a medical emergency. 


When buying a mediclaim policy, it is essential to review it carefully for exclusions to ensure you get the coverage that you need. Exclusions can be a range of different things, such as pre-existing conditions, specific treatments, smoke-related claims, cosmetic treatments, age restrictions, and more. 

It is paramount to ensure that they understand what is included and what is excluded from their policy before they make a purchase.

Additionally, understanding the exclusions can help avoid unnecessary or additional costs arising from treatments or services that are not covered by the insurance policy.

To Sum Up

There are a lot of factors to take into consideration when purchasing a mediclaim policy. From the amount of coverage required to the kind of plan suitable for a person to the exclusions of the policy, it is essential to weigh the pros and cons of each option carefully. 

Additionally, it is beneficial to research plans from multiple providers before deciding. Ultimately, purchasing a mediclaim policy can provide peace of mind and financial security in the event of a medical emergency.