Vital Family Health Insurance Benefits At A Glance

Posted by Aditya Sehgal on March 23rd, 2018

A family health insurance policy helps you safeguard your family against all medical expenses about their treatments, hospitalizations and more.

As a result, when you avail a health insurance policy for family, you don’t have to pay out of your pockets or sell off your assets and blow up the savings to arrange for the cash.

Hence, a family health insurance plan has rightly emerged as feature and benefits rich prospect for any family to take advantage and save on the rising medical expenditures.

What is a Family Health Insurance Plan?

A health insurance policy for family helps you cover all your family members against multiple ailments and diseases. As per the age of your family members, a health insurance policy for family covers the entire family at the lowest premium. As a result, you save huge money when compared to subscribing to an individual plan for all members.

Why is Health Insurance Policy For Family a Must?

The first reason is that life is unpredictable and anything can happen to anyone’s health within a fraction of seconds. For the same, being prepared is the key.

What’s more, with people living on junk foods, pollution taking a toll on health, road accidents, heart attacks, strokes, diabetes and more troubling people in young age, planning for an ensuing medical emergency is a must.

Rising cost of medical treatments can wipe your savings and assets quicker than your assumptions, and if you are unprepared financially, things could become worse. As a result, it would be smarter of anyone to avail a health insurance plan for family and be at peace.

Feature of a Perfect Health Insurance Policy for Family

  • Cover family members – Be it your spouse, parents and children and in-laws, you can get coverage of all family members as per the clauses of a service provider
  • Discount on high sum insured – Most of the insurance companies offering rebates on insurance of higher sum
  • Cashless settlement of claims – You can avail the facility of a cashless treatment if you happen to get hospitalized in a network of hospital notified by your service provider
  • Policy term – The family health insurance plans offer policy term options with the provision of opting for 1, 2, or 3 years.

Health Insurance Benefits of a Family Plan

  • Lets you save money – Did you know that you can cover your entire family while still paying a lesser amount of premiums? Yes, when you opt for a family health insurance plan, it helps you save huge bucks
  • Tax benefits – As per the Section 80D of the Income Tax Act, you are eligible to get tax benefits on the amount of premium that you pay
  • Add new member – You can add a new member in your plan without issues
  • Add in-laws – If you pay a little more to insurance companies, they allow you to add your in-laws to the family health insurance plan as well
  • Restore the coverage – Suppose if you exhaust all coverage within your tenor of the policy, you can easily reinstate it. It is a special benefit provided by health insurance service providers these days. However, you need to keep in mind that it is permissible only for unrelated claims

You now know how a health insurance policy for family is a blessing in disguise for you to keep all unknown medical bills payment settled without worrying about the expenses.

When you don’t have to look out for future health based finances for your family, you can feel free and bask in the glory to enjoy life at its best!


Aditya Sehgal

About the Author

Aditya Sehgal
Joined: September 18th, 2017
Articles Posted: 1

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