The word Mediclaim stands for the claim made on the basis of the medical treatment done to the benefactor of the policy. In the ever running world, getting a medical treatment done in case of emergencies or hospitalization means a whole bunch of money. Mediclaim policies have come up in these times of help. In such policies the benefactor usually insures a specific sum of money upon which he or she pays a specified rate of premium to the company.
When the benefactor of the policy is sick, then the company has to be informed about the hospitalization and the benefactor can then claim for a specific amount of money from the company which is needed for the treatment as reimbursement or at places the company networks with the hospital making it a cashless facility. That amount of money is then deducted from the sum insured and you can renew the new policy after a short period of time.
TheUnited India Individual Mediclaim Policy is one Mediclaim policy which can be used to cover an individual and his illness. Like all the other policies, this policy also has its pros and cons. There are different limits and sub limits too for the policy. Children can also be covered at times under the same policy.