In a time when the country’s health infrastructure is facing severe challenges in coping up with a pandemic and there are shortcomings being reported in terms of the faint medical infrastructure conditions, having a medical indemnity insurance works as a safety shield for you and your family.
What is a Medical Indemnity Insurance cover?
Medical indemnity insurance cover is a health insurance cover that provides protection to both a doctor and his/her patients in case of a complication while conducting a medical procedure during the patient’s treatment, resulting in harm or further problems.
Primarily, a medical indemnity insurance is financial aid for the healthcare professionals and health establishments, in case any of their medical procedures/services cause harm to the patients. By harm, we imply to injury, illness, financial loss etc. which result from carelessness or absence of healthcare providers.
It further provides protection for the medical establishments such as hospitals/clinics and their medical staff and professionals from defamation, destruction of necessary important documents, violations of duty, and much more.
In case you are searching for a medical indemnity insurance cover, you can opt for Professional Indemnity Cover offered by Bajaj Finserv. It not just provides cover for medical professionals but also professionals from different fields. You can also check health insurance with great features and benefits.
Why is a Medical Indemnity Insurance important?
- Provides a financial backing– Medical services are highly expensive and hence in case a patient suffers from an injury or ailment as a result of the wrongful treatment by a medical profession, the cost of treatment can be covered under the policy. This helps both medical professionals and establishments in overcoming any additional expenses which may result in hefty burden on the bank log.
- Cover for legal expenses– In case a patient files a case of defamation or medical negligence against a medical professional or established, it takes years of court proceeding to come to a dead end. Such law proceedings are costly and can cost you heavily. But with a medical indemnity insurance cover in place all the medical expenses incurred in the legal procedure are covered under the policy.
- Protection against false/irrational claims- There are times that a medical professional or body may not be at fault, but a patient still files a complaint against them, and they will have to now clarify their stance. In such circumstances having a medical indemnity insurance can be very helpful as it provides protection against hefty legal charges. The cost incurred in fighting the defending case will be paid by the insurer, thereby helping you to fight your case without any financial pressures. This way you can focus on the case and not on the heavy expenses that are incurred.
While the policy provides for several benefits it is good to know what is not covered under this policy.
What is not covered?
- Procedures performed under the influence of intoxicants / illegal drugs
- Unlawful acts
- Plastic surgery
- HIV Aids
- Weight reduction procedures
- Cosmetic surgery, punch grafts, hair transplants etc.
- Defiance of statutory provisions
There are numerous challenges that a medical professional or organization has to face in today’s world and with the pandemic hitting the country, the situation has only worsened. While the doctors are dedicated to do their duties, we must not forget that they are also human. Hence, for the protection of your finances, image, and your professional integrity it is best to have a medical indemnity insurance cover in place. Apart from financial benefits having a support in legal aids is also an added advantage of the policy. Therefore, as we say better safe than sorry!