Family health insurance covers the entire family in a single insurance plan, more like a group insurance plan and can be customized as per the family’s needs. These policies cover more than one family member on a single policy-single premium basis. The insured family gets the much-required health insurance coverage against rising medical expenses.
With the increasing risk of diseases and expanding medical treatment costs, health insurance family plans have become the demand of the time. These policies can be customized as per family needs. Health insurance will provide coverage for various medical expenses such as in-patient hospitalization, pre and post-hospitalization, ambulance costs, day-care treatments, ICU charges, domiciliary hospitalization, etc. to ensure financial stability. Secure your loved ones with a Care family floater plan.
Here are some key points to keep in mind while buying a Family insurance plan.
How Important are Health Insurance Family Plans?
When it comes to the family’s health and safety, a health insurance policy for the family is a MUST. The rising incidences of pollution, sedentary lifestyle etc., are taking a toll on people’s health and thereby making them more dependent on medical facilities for treatment. Additionally, increasing medical inflation in the country and resultant higher treatment cost has made Family Health insurance a need of the hour.
It helps you to avail the best possible treatment across cashless network providers of the insurance company and gives you a financial cushion when you need it the most.
Benefits of Family Insurance Plans:
A health insurance policy for the family comes with comprehensive coverage for insured family members. They get protection under a single umbrella. Listed below are few of its significant benefits:
Affordable Premium: The family floater plan is affordable and has less premium than the individual policy. You need to pay a single premium once a year. It reduces your financial burden and keeps your family budget balanced.
Single Policy: No need to get into the cumbersome formalities of having several health policies for your family members. Pay a single premium and manage one policy for all insured family members.
No Upper Age Limit: You can buy a health insurance plan without any age restriction if you are 18 years or above and with no upper age limit for enrolment.
Discounts: Insurance Companies offer you a discount on the premium if you pay 2 or 3 yrs premium in advance.
Tax Exemption: You can get tax exemption up to Rs 75,000 for the premium paid against coverage for family and parents as per section 80D of the Income Tax Act.
Things Covered under Health Insurance Policy for Family:
In-Patient Hospitalization Expenses: Insurance companies cover your hospitalization expenses if hospitalization exceeds 24 hours due to accidents or illness.
Pre and Post Hospitalization Expenses: It covers expenses on doctor consultation, prescribed diagnostics, or prescribed pharmacy for up to 30 days before hospitalization in pre-hospitalization and up to 60 days after hospitalization in case of post-hospitalization. The number of days covered under Pre and Post hospitalization varies from plan to plan and company to company. So, please check for the coverage duration under Pre and Post Hospitalization head while shortlisting the family health insurance policy.
Ambulance Cover: The policy covers ambulance costs that any policyholder incurs for availing a road ambulance.
ICU Charges: Health Insurance Policy covers ICU charges. Some plans put a cap on ICU expenses by limiting it to 1%-2% of Sum Assured, while others doesn’t put any restriction. It is an important parameter to be kept in mind while shortlisting Health Insurance Policy.
No Claim Bonus: Insurance Companies provide No Claim Bonus for every claim-free year subject to certain terms and conditions and capping.
Day Care Treatment: Health Insurance Companies covers treatment expenses where hospitalization duration is less than 24 hours. Please check the list of daycare procedures covered under the plan which you intend to buy to get the clarity beforehand.
Relationships covered under the Family Floater plan are the Self, Legally married spouse, son, daughter, father, mother, or any other relationship having an insurable interest
Care Health Insurance : Care Health Insurance offers he most promising health insurance for family across the nation. We haven’t left any stone unturned to provide optimum services to our valuable patrons over the years, with 16500+ Network Hospitals.