medical insurance

Best Way To Protect Your Family Health During Medical Emergencies With a Medical Insurance

Investing in a comprehensive medical insurance plan is the key to safeguarding yourself and your family’s health needs. While you often feel that paying the premium without the need for a claim is a sheer waste of money, you can understand the importance of a health insurance policy during costly medical or surgical emergencies. 

You may find a variety of plans with different terms and conditions, a reliable insurance provider generally covers hospitalisation costs, doctor’s consultation fees, cost of treatment, and cost of medicinal drugs. 

While some plans enable policyholders to pay the bill themselves and get reimburse later, some companies settle the payment directly with the hospitals with cashless services. 

Most prominent insurance companies allow policyholders to add a critical illness rider to their policy covering specific life-threatening diseases that require long-term treatment. 

How to protect your family’s health needs with an insurance policy?

While fulfilling your family’s financial needs could be one of your top priorities, there’s no denying how health holds an equally important place on that list. A good family health insurance policy can lower your stress of buying separate health covers as you can secure the health of all your family members with a single insurance plan. 

Most popular medical insurance policies are customisable, enabling you to suit your family’s medical needs. When you opt for a family cover, such as a family floater plan, you can enjoy the benefits of an affordable premium while securing your entire family’s medical needs. The sum assure is generally fix in most plans and provides complete coverage for your family members. 

The perks of family floater health insurance 

The best insurance policies for your family cover your spouse, kids, parents, and more, regardless of their age. The family floater plan allows the following:

– Allows additional members 

The family floater policy enables flexibility where the policyholders can add other dependents easily. It ensures that every individual member is secure under an insurance cover. 

– Affordable

A family floater medical insurance comes at affordable premiums. The premium, however, depends on the tenure and the assured sum. 

– Single plan for the entire family

A family floater health insurance plan can cover even your in-laws and your spouse and parents under one single plan. One plan can cover many members instead of individual plans for all family members. 

– Provides additional benefits 

Every medical insurance policy provides additional benefits to its policyholders. Some insurance companies extend rider benefits such as cover for critical illnesses, newborn cover, and maternity cover. Such benefits might come with additional clauses, and hence it is essential to read the policy details before investing in one.

–       Enjoy tax benefits

Investing in a family health insurance policy can also offer you some tax benefits. The premiums that you pay for your family and yourself entitle you to a tax benefit under 80D of the Income Tax Act of India. 

When shortlisting a medical insurance policy for your family, add critical illness riders as they can be beneficial in the long run. Moreover, check that your premiums don’t increase during the policy tenure and that the policy covers your old age. Don’t forget to check out the network of hospitals listed. 

Why go for a family floater health insurance policy?

Your medical emergencies and your family can be taken care of with a family health insurance as it can be custom-fit to your needs, acting as an umbrella of coverage for the entire family. As a single medical insurance policy, it can relieve you from the stress of maintaining more than one health insurance policy. 

With one policy for the family, you can also ensure that the total sum insure can be utilised by any member cover under the family during an emergency for medical treatment according to the specified limit. A family floater, or health insurance policy, offers options where you can ensure a higher sum than in any individual plan, thereby providing relatively higher coverage. The family health insurance plans can also cover dependent parents, siblings, and parent in-laws. 

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Most medical insurance plans for families from the top-rated insurance companies cover all medical expenses, provide quality medical attention, and enable preventive health check-ups and tax benefits. Make sure road ambulance, all daycare treatments, and pre and post-treatment benefits are offer under your chosen family medical policy. A reliable policy will give you peace of mind and save you from financial hassles in times of emergency.  You know that you have solid support to fall back upon during a medical crisis. The lifetime renewability of the policy is an added advantage. While zeroing down on a particular family health plan, carefully read the inclusions and exclusions in the policy to make an informed choice.

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