Medical Insurance is a type of insurance that provides cover for hospitalisation, medical visits or both. Most providers pay a set amount for each day in the hospital or day-to-day medical expenses. Medical Insurance is normally slightly cheaper than Medical Aid and provides cover if you or your loved ones need treatment.
Medical Aid comes with PMBs, whereas health insurance providers are not required to include cover for PMBs. Medical Aid usually pays the hospital directly whereas Medical Insurance is paid to you, meaning you can choose how the money is spent. Some Medical Insurance policies even provide personal accident, disability cover and Funeral Cover.