What is the difference between Mediclaim and Hospicash?

Mediclaim is an indemnity health insurance product which is a reimbursement of expenses while Hospicash is a defined benefit product paying for each day of hospitalization irrespective of the actual bills.

 

Particulars Details
Cover Type Individual
Type of Plan GFB – Group Hospicash
Frequency of payment Annual in advance
Policy Period 1 Year
Age Group 18 – 60  Years
Daily cash benefit Rs.1500 per day or Rs.2000 per day
Premium Rs.885 per year Or Rs.1180 per year respectively
Limit per policy year 30 days
Deductible 1 day per hospitalization
Waiting Period 30 days
1 Year waiting period (Specified illness) Not Applicable
Pre-existing diseases waiting period Not Applicable