Mediclaim is a financial protection to individuals in the event of medical emergency. The policy gives reimbursement against the cost incurred on any of the pre-specified illnesses and surgery. Any individual is eligible for a mediclaim policy. However, if the individual is not an earning member, s/he needs a proposer to purchase the policy on his/her behalf. An individual plan and a family floater plan are the two major categories of medical insurance.

Today, insurers also provide cashless treatment in network hospitals to give the best medical facilities to policyholders.