Which Health Insurance Plans Cover Your Family Members?

The Health Insurance plan that covers your family members: A complete guideline.

Hassle-free and convenient, a single health insurance plan provides complete coverage to the entire family. Health Insurance for families ensures that medical amenities are available to the family members during an emergency and eliminates the added worry of liquidating assets or taking loans to cover treatment costs.

Flexible, there are medical insurance policy for family that can be extended towards new members of the family as well, at the payment of an extra premium. Read ahead to know everything about families’ health insurance and select the best policy suited to your needs.

Things you should consider while choosing a health insurance for families:

• Coverage: You must read the policy clauses with a fine-toothed comb, as this will determine the premium amount. If you are expecting a new born in the family, you must make provisions to include the new member in the policy. The premium amount is determined by the needs of the policyholder.
• Inclusion of all members: Any member of the family can fall sick, and no one is immune to diseases. Select a plan that covers all the members of the family and include children and young adults too.
• Price: There are various medical insurance for families available, with various prices. The health insurance for families are flexible, and are customized, to suit the structure and needs of different families. Choose a health insurance plan that is customizable, best suits your needs and budget the best.
• Renewability: The medical insurance policy should have lifetime renewability.
• Significant claim settlement ratio: The claim settlement process depends on the insurance provider. opt for a health insurance for family’s policy from a reliable insurance company, with a good claim settlement ratio, as this will indicate their intentions to deliver on their promise.

Benefits of having a family Health Insurance plan:

If you are considering a health insurance plan that covers the entire family, read ahead to know the benefits of investing in the same.

• Covid-19 coverage: The new health insurance for family’s policies are including coverages for Covid-19. With this coverage, all the members of the family are ensured top notch medical treatment. For existing Medical Insurance Plans, you can speak to your insurance provider to include this coverage as a clause.
• Medical expense coverage: The family health insurance provides coverage for medical expenses. Medical expenses are constantly rising, making it important to have insurance cover. Also, the coverage is adjusted to include inflation.
• Affordable: The health insurance for family’s policies are affordable and flexible, making it easy for people from different financial backgrounds to avail their benefits. You need to select a plan that fits in your budget and calculate the premium payable, from any of the online premium calculators.
• Additional benefits: the family health insurance plan can be modified to include add ones. Any existing plan can be customized to include new born baby cover and maternity cover, among others.
• Tax benefits: As per Section 80D of the Income Tax Act, the health insurance covers and premium payments are exempt from tax.
• New members cover: the health insurance for families can be modified to include new born babies. Babies are susceptible to illnesses; hence it is beneficial to add them to the family health plan. On payment of additional premium, the new member can be added without any hassle.
• Comprehensive coverage: The family health insurance provides comprehensive coverage for all members of the family. Expenses relating to pre and post hospitalization, costs for ambulances, organ donation, treatments under Ayurveda, Unani, Yoga, and Siddha are covered, among others.

Exclusions:

Health insurance for family’s policies are usually all inclusive, however, there are some activities and things that are excluded. Some of these are:

• Adventure sports injuries: Any injuries caused due to adventure sports like skydiving, paragliding, and deep-sea diving are not covered.
• Criminal injuries: Any injuries sustained while committing any criminal activities are exempt from the insurance plan.
• War injuries: Any injuries sustained due to war or similar situations are exempt.
• Congenital external diseases or anomalies: Any health conditions or diseases present from birth are not covered under the insurance plan. These illnesses include Down Syndrome, cleft lip, club foot, among others.
• Treatment for alcoholism: Expenses relating to rehab and other alcoholism or drug abuse treatment are not included in the insurance plan.

In order to select the best health insurance plan for the entire family, it is important to be aware of the clauses, premium amounts, inclusions, and excursions of the policy. Convenient and cashless, a comprehensive health insurance policy for the entire family ensures that each member gets access to the best medical care, without putting the other members under financial strain.

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