is there any difference between a health insurance and mediclaim , if yes what?
- satheeshLv 41 decade agoFavourite answer
in general we use both the terms for the same insurance policy. but it may differ. for example there are some new health policies initiated by life insurance company which collects money as a savings from the policy holder and partially pays back to meet the hospitilisation charges. if no such need arises they will pay back the whole with profits if any at the end of the term. they will be taking a part of your investment as their service charges. But in the case of a medical policy you are paying an amount as the charges and they in turn meet your hospital or medical bills as per policy wordings. if there is no claim during the term as defined in the policy you will not get anything.
- Joshi ALv 51 decade ago
It is originally Health Insurance. Both the terms are in used.
- 1 decade ago
I think both are same .