Best Family Health Insurance Plans for Family

Who doesn’t want to shield their family from difficulties? While you cannot prevent unfortunate things from happening, you can certainly be prepared for them. Whether it is just you and your spouse in the family, or you have children and their grandparents living with you as well, everyone needs health insurance. Health insurance for the family can help each member of the family be better prepared for any health-related problems.

What is family health insurance?

Health insurance plans for a family are the plans that provide coverage against medical expenses for all the members of the family. It is a joint plan that has a clubbed sum insured which can be used by any member of the family who needs it for a medical emergency. Most family insurance plans allow a spouse and up to two children to be included in the plan apart from the policyholder. Some may also allow the parents of the policyholder to be included in the plan. You can always discuss with your health insurance provider who will benefit from the policy. 

How to pick the best family health insurance plan in India

To land on the best plan for you and your family, there are a few things that you need to keep in mind, which are as follows:

Research well and compare

It is a no-brainer. Sometimes the various policies available can confuse us into opting for the one which might not fulfill our needs completely. Researching thoroughly and comparing all the pros and cons of each plan that you come across is essential. Medical insurance is not something that should be taken in haste. Take your time to pick the one that best suits your family’s needs. 

Go through the list of hospitals under their network.

Every health insurance company has some hospitals they have tie-ups with. Getting treatment from these hospitals makes it easier for you to make a claim. You may even get the option to make a cashless claim if the member gets hospitalized in one of these hospitals. It can save you the trouble of excessive paperwork as the hospital will connect with the insurance company itself. All you will be required to do is let them know about your medical insurance. The more hospitals an insurance provider has under their network, the better it is for the policyholder. 

Check if they provide a no-claim bonus.

If you want to make the most of the best health insurance for family, enquire if your insurance provider offers no-claim bonuses. A no-claim bonus is a kind of reward that insurance companies give when the policyholder has not made even a single claim in a long time. They have this rewarding feature to discourage excessive claims. 

Choose the sum insured amount carefully.

One of essential things while picking up the right policy for your family is choosing an adequate sum insured amount. The amount shouldn’t be so less that you run short of insurance money in times of need. It should be sufficient to cover a severe emergency. At the same time, pick an amount that fits your budget. 

Enquire if they have a waiting period policy

Some insurance companies have a set waiting period for claims against the treatment of pre-existing illnesses. Any illness that you already have while taking up the policy can be excluded from claims for the first year or so. The duration of the waiting period depends upon the insurer and may vary.

Check what the plan does not include. 

To pick the best health insurance for your family, knowing beforehand what the plan does not cover is as important as knowing what it covers. Even a tiny exclusion can cost you big money at times. Therefore, look for any hidden clauses of exclusion that your family insurance plan comes with. 

Whether they offer any additional features 

Health insurance plans can sometimes include additional facilities such as providing free ambulance service, covering the cost of vaccination for your children, free health check-ups, etc. These small features can save you a lot of money, so make sure that you pick a plan that provides some good additional services. 

Benefits of getting a family health insurance plan

Mentioned below are the advantages of getting a family medical insurance plan:

It covers the entire family.

The best thing about getting a family insurance plan is that you do not need to get individual plans for each member. Including everyone in one plan saves a lot of time and paperwork. Also, the sum insured can be used by any member of the policy as per the need. 

Affordability

Getting individual plans for everyone in the family is an expensive option. Not everyone can afford it. If you do not have a lot of money to invest in health insurance, a family plan is the best option. It will cover every family member’s medical expenses under one plan.  

Tax benefits

Do you know under section 80D, you can save up to INR 25,000 on the premium paid every year? Investing in medical insurance not only gives you a secure future but also helps you save money on taxes. 

Be relieved 

Investing in health insurance for your family will help you stay relieved from worries regarding their health. Good medical insurance for a family in India is not very difficult to find. Once you sign up for an insurance policy for your family, it can be of great relief to know that you will not have to go through difficult times alone. Your insurance provider will take the financial burden off your shoulders significantly for any major medical emergencies. 

Summary 

There is no better way to secure the health of your family than investing in a health insurance plan for your family. Health insurance for family is a wonderful option for anyone whose budget does not allow them to invest in individual plans for each member. A family medical insurance policy is affordable and provides coverage for the medical expenses of every member of the family under one plan. You can pick the best plan for your family by doing your research well and comparing the plans that you like before finalizing one.