Family Health Insurance Plans Secure Your Loved Ones with the Right Coverage

“Family Health Insurance Plans: Secure Your Loved Ones with the Right Coverage”

Health insurance plans for families offer extensive coverage to all family members against planned & unplanned medical expenses. This plan includes self, spouses, dependent children, dependent parents, grandparents, & parents-in-law.It offers complete family coverage, hence ensuring mental peace & financial security. These plans offer the best medical facilities at reduced costs in case of unforeseen events, providing cashless facilities & quicker claim settlements.

Difference between an Individual & Family Health Plan

Provided below are the basic differences between Individual & Family Health Insurance Plan:

Basis of Difference	Individual Health Plan	Family Health Plan
Cost	Premium cost is lower in comparison to the family health plan.	The premium cost is higher, but it offers coverage to all family members.
Coverage	It includes one single individual	It includes all family members.
Benefits	The coverage is diverted towards a single individual, i.e. all individuals get personalised coverage.	It provides shared benefits, which include emergency situations & preventive healthcare.
Ideal for	High-risk individuals or senior citizens	Small & young families
Long-Term Savings	Limited savings	It helps save costs in comparison to insure each individual.
Sum Insured	Exclusive & cannot be shared	Can be shared

Reasons to Buy a Health Insurance Plan for Family

Provided below are the reasons to buy a health insurance plan for family members:

• Increasing Medical Costs

Health insurance for family members helps deal with increasing medical costs, hence ensuring coverage for all family members.

• Employer-provided health insurance is not enough.

The sum assured in the case of employer-offered insurance is neither enough nor customisable. Also, it will end once you leave the company, hence, personal family insurance becomes must in this scenario.

• Increasing lifestyle-related diseases

In today’s world, where lifestyle-related diseases have increased a lot, leading to physical, mental, & financial stress. Hence, buying a family health plan can help protect savings against high treatment costs.

• Savings in premium cost

Apart from spending on individual health plans for each family member & managing them, it’s better to buy a family health plan, which will provide coverage to the complete family.

• Tax Benefits

The premium amount is eligible fora tax exemption under section 80D of the Income Tax Act of 1961.

Inclusions & exclusions

Provided are the inclusions & exclusions of a Health Insurance Planfor the family:

1.Inclusions

• In case of hospital admission for more than 24 hours, hospitalisation expenses incurred, which include doctor fees, medical expenses, room charges, etc.
• The pre-hospitalisation expenses incurred for a period of 60 days are covered.
• The post-hospitalisation expenses incurred for a period of 180 days are covered.
• Some of the daycare treatments that require even less than 24 hours of hospitalisation, like radiotherapy, chemotherapy, dialysis, etc.
• AYUSH st&s for Ayurvedic, Yoga & Naturopathy, Unani, Siddha, & Homeopathic treatment. Expenses incurred on it are also included.
• Domestic Road ambulance charges are also covered under this plan.
• Pregnancy & newborn baby-related expenses are also covered.
• The expenses related to organ transplants are included.
• The medical expenses incurred from the treatment provided at home are based on the doctor’s advice.
• Similar to the Term Insurance Medical Test List, the expenses for OPD consultations & medical tests conducted as per the health plan’s medical test list are also covered.
• It also covers expenses related to mental diseases, like anxiety, depression, etc.
• Some of the plans also cover costs related to consumables, non-medical items, etc.
• Preventive health check-ups are also included.

2. Exclusions

• Sinusitis & related disorders
• Cataract
• All types of hernia & hydrocele
• Benign prostatic hypertrophy
• Stone in the urinary & biliary systems
• Myomectomy, hysterectomy unless because of malignancy
• Dilatation & curettage, endometriosis
• Joint replacement, unless due to an accident
• All types of skin & all internal tumours/cysts/nodules/polyps of any kind, including breast lumps, unless malignant
• Varicose veins/varicose ulcers
• Dialysis is required for chronic renal failure
• Surgery on tonsils, adenoids & sinuses
• Deviated nasal septum
• Gastric & duodenal erosions & ulcers
• All types of internal congenital anomalies/illnesses/ defects

Eligibility Criteria

Provided are the eligibility parameters that are to be met to buy a family health insurance plan:

• In the case of adults, the minimum eligibility age to buy a health plan is 18 years.
• In the case of adults, the maximum age to buy a health plan is 65 years.
• In the case of children, the minimum eligibility age to buy a health plan is 90 days.
• In the case of children, the maximum age to buy a health plan is 25 years.
• Only Indian residents can apply.
• The pre-existing health ailments, medical history, & health status should be disclosed earlier.
• It gives a waiting period of 15-30 days before the complete coverage is offered.
• Family members who have a blood relation, spouses, dependent children, parents, &parents-in-law are covered.

How to Apply for a Family Health Insurance Plan?

Provided below are the steps to buy a family health insurance plan online:

• Open the insurance company’s website.
• Complete the application form with the required details, such as name, gender, date of birth, mobile number, etc.
• Click the tab “Get Quote”.
• Select the desired health plan from the list of plans available by clicking the tab “Buy Now”. Also, you can customise the insurance amount, policy tenure, & type of plan as per your preference.
• Depending on the plan chosen, you can also choose policy tenure & the amount of premium.
• Input your e-mail ID & click “Next” to proceed after checking the correctness of the details entered.
• You are further required to enter some details, such as height, weight, marital status, nationality, residential address, details of beneficiary, etc.
• Provide details related to health & lifestyle.
• Make payment towards the plan chosen via credit card, UPI, or debit card.
• A payment confirmation message will be received immediately upon payment.
• The policy document can be downloaded, & a copy will also be receivedvia e-mail within 5-7 working days.

Conclusion

Due to increasing medical costs, buying a health insurance plan for all family members has become essential. Buying a health plan for family members offers mental peace & quality medical services against unexpected medical costs.

In addition to selecting the right family health insurance plan, it’s essential to stay informed about the latest health trends and tips for maintaining a healthy lifestyle. For those seeking comprehensive advice, exploring various health and well-being guides can provide valuable insights into managing your family’s health effectively. These resources offer practical tips on nutrition, exercise, and preventive care, ensuring that you and your loved ones are well-equipped to make informed decisions. By integrating these guides into your routine, you can enhance your family’s overall health and well-being, complementing the coverage provided by your insurance plan.