Family Health Insurance – The Importance and Beyond

Aditya Sehgal By Aditya Sehgal, 12th Mar 2018 | Follow this author | RSS Feed | Short URL http://nut.bz/13yj93ip/
Posted in Wikinut>Family>Health

A family health insurance plan lets you cover the financial needs of your family from the health point of view. It has many benefits to make you go wow. Read more right away!

Introduction

The family is the support system of an individual’s life. We all live and strive to go that extra mile when it is about the family and give our best. If any of the pillars of a family gets attacked by some health scares, the life goes for a toss.

As a result, everyone wants to be prepared to fight against all uneasy situations in life for the health of the family.

Yes, you can go ahead and exhaust all your savings and assets for covering the needs of your family. But, have you understood how you would take care of them when you exhaust your savings and assets to cover their medical expenses?

That’s where a concept called family health insurance has emerged to provide you coverage of all medical expenses of your family members. If you buy a health insurance plan each for all, you will also need to shell out extra premiums. A family health insurance plan, also called family floater scheme helps you safeguard all while paying lesser premiums.

The Importance of Family Health Insurance Plan

Since a family health insurance scheme covers all medical expenses based needs of all family members at a low cost, the vitality of such a plan goes higher to serve you.

Some of the vital features of a family health insurance are:

- The family health insurance plan covers the hospitalization expenses of the patient that covers even the charges related to consultation, medical bills and, room charges
- Drug and medicine expenses of the policyholder is covered
- Day-care for the entire day is offered
- All organ donation expenses are covered
- Domiciliary hospitalization is covered
- The family health insurance plan also has the provision to provide coverage for the ambulance expenses
- Some of the family health insurance plans of leading companies also cover some critical illness as well
- The family health insurance plan also comes with the extension of a life-long renewal beyond the age of 65 years
- You get a 15 day free cool off period to review your policy and cancel it and get a full refund
- The family health insurance plan also helps you save taxes. As per the Section 80D of the Income Tax Act, you get tax exemptions on the premium that you pay

Advantages of Family Health Insurance Scheme

A family health insurance plan offers a bucket of benefits such as:
- Hassle-free coverage to your family
You get the freedom to not avail individual health insurance plan for each of your family members and incur huge loss. The family health insurance plan reduces your expenses as you get to cover your entire family for lesser premium payouts.

- Make the most of the incentives
The family health insurance plan also has the provision to offer you incentives and discounts which it offers from time to time. It is one of the best ways to secure your families in an inexpensive manner

- Facility to add new member easily
In this medical health insurance for family, you are also free to add a new member if the senior most member of the family dies. Other members continue to get benefits without any changes.

- You can add parents and in-laws as well
Some of the prominent family medical health insurance for family service providers also enables you to add parents, siblings and even in-laws by shelling out a bit more.

The Bottom Line

Given the kind of benefits and coverage that a family health insurance plan offers, it is vital to avail one today online and covers your family against health scares easily. All the best!

Tags

Family Health Insurance, Healthcare

Meet the author

author avatar Aditya Sehgal
I am a blogger and loves to write on various niches. I have in-depth knowledge on topics such as technology, finance, current trends etc.

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