OMLP2P Blogs

Health problems that were once incurable can now be cured, thanks to the advancements in technology that have made complex treatments possible. But the cost of these medical treatments are so high that not everyone can afford them, especially people who fall under the middle-class category.

Any treatment that includes surgery, the cost of the entire treatment often goes up to a few lacs. compelling people dig into their savings while others find it impossible to meet the financial requirements at the time of need. For e.g. A knee replacement surgery costs Rs 2-5 Lac for one knee in Mumbai.

Unfortunate events may force you to spend lacs of rupees on the treatment, Mediclaim policy can come to the rescue. But if you have not used your Mediclaim policy for such expensive treatments yet, you need to know that Mediclaim policy can give you some unpleasant surprises.

When Mediclaim Policy Doesn't Cover 100% Treatment Charges
In cases where the medical treatment costs are enormously high, your Mediclaim policy may not cover the entire cost of the treatment and/or the surgery. Let us assume that you have a Mediclaim policy of Rs 4 Lac. This month you undergo a knee replacement surgery that costs you Rs 3 Lac assuming that your Mediclaim policy will cover the cost of treatment. But in reality, your Mediclaim policy may cover only a certain portion of the total treatment cost. That is because the Mediclaim policy limits its liability towards you.

Here are a few factors that may cause you to bear a major portion of medical expenses on your own:

Sub-limit:
It is the limit up to which the Mediclaim policy pay for treatment. Sub-limits are applied to almost all policies.

Exclusions:
Treatments like cosmetic surgeries of dental implants, facelift, etc that your Mediclaim policy may not cover.

Proportionate Deductions:
If you surpass the upper limit of daily room rent specified in your Mediclaim policy, you will have to pay the proportionate increase in all the medical expenses from your pocket.

Waiting Period:
On many diseases or illnesses such as diabetes, heart diseases, etc. there is a certain waiting period before which Mediclaim policies does not cover the treatment cost. In such cases, you cannot rely completely on your Mediclaim policy.

Hence, in such cases, availing the personal loan can fill in the financial gap during the period of medical emergency.

Personal Loan for Medical Emergency - An Alternative to Mediclaim Policy
In the event, when your Mediclaim policy does not cover you completely, you can always consider a personal loan. Personal loans for medical emergency are often easily available at a decent interest rate. Moreover, getting a personal loan is hassle-free.

Apply for Personal Loan for Medical Emergency on OMLp2p.com and clear out your hospital bills. Do not let a medical emergency leave you in despair.