Prajna Capital - An Investment Guide

This article is on the basic difference between mediclaim and health cover MAX New York life recently launched ‘lifeline series’ — health cover plans for individuals. While typically it is the general insurance companies, which have been active in the mediclaim space, thanks to IRDA , now there are alternatives from life insurers such as ICICI Prulife and Bajaj Allianz. Protection and savings Mediclaim is usually a cashless policy, in which you can undergo treatment at any of the hospitals listed with the insurer without paying cash at the time of treatment. On submitting hospital bills, the designated third party administrators ( TPAs ) pay off the dues directly to the hospital. Newly-launched health products of life insurers extend the same cashless facility. But the structuring is different. The latter, for instance, have a health cover along with the savings option. In other words, the premium you pay for health cover also has an investment element to it. The idea is to meet the ...