What is the difference between Medical Insurance and this Indus Health Friend Card which offers Discounts?
This card is NOT A HEALTH INSURANCE CARD, DOES NOT OFFER ANY HEALTH INSURANCE COVER AND DOES NOT INTEND TO REPLACE INSURANCE. Medical Insurance can only be offered by INSURANCE COMPANIES, Medical Insurance is a product for which you pay a premium ever year to protect yourself against hospitalization, which you may have to undergo. In such a case, the Insurance Company will pay the hospitalization bills, subject to the terms and conditions of the policy. Typically, Medical Insurance addresses the Hospitalization Expenses only, with limited period pre-hospitalization expenses covered, albeit with complex terms and conditions in fine print. These exclude diseases and ailments which are very expensive and have prolonged treatment period. Health Insurance particularly does not cover pre-existing illnesses. Typically, Health cover/s do not address persons aged above 55 and premium rates are steep to act as a deterrent, since the claim ratio is very high in this category. Also, employer suppo
