Health

Provisions of a Family Health Insurance Policy

Health policies have become essential and everyone must consider purchasing it. If you feel that an individual policy for each member of your family will be a burden on your finances, then you can opt for a family health insurance plan. Under this, you can cover all your family members under a single policy.

The family health plan proves to be much cheaper than buying individual policies for each member, as it treats serious medical conditions as well. You can look for an insurance provider, who will provide you with a customized insurance policy based on your requirements. All you have to do is go on the web and browse the health insurance plans available, then select the one that best suits the needs of your family, keeping in mind the medical history of each member.

Another reason why it is better to be secured with a health plan is that it will provide you with the peace of mind that you deserve, as you won’t be confused about arranging the money required during medical emergencies.

Pros of having Family Health Insurance

Family health insurance plans offer several benefits, such as:

  1. Simple process

Health emergencies can arise anytime and to anyone. But if you have a health insurance policy for family, you will be able to secure your entire family from facing any financial crisis emerging from medical conditions. You don’t have to pay premiums for several individual policies, just pay for the one health insurance plan for the family without facing any hassle.

  1. Cashless treatment

Most of the insurance companies provide you with the option of cashless hospitalization. Health insurance companies have tie-ups with a list of hospitals all over the country. If you take the treatment in any of the mentioned network hospitals, you do not have to pay the hospital bills. The payment will be made by your insurer.

  1. Does not feel heavy on your pocket

Family health insurance plans can help you save money. Your entire family gets covered under a single floater plan. If you go to compare to the cost of the individual health insurance plans for every member, you’ll find health insurance for family to be comparatively low costing alternative for a more uniform rather than customized coverage.

Take a look at the types of Health Insurance Plansfor Family:

If you purchase a family health insurance plan, you will receive a broad range of protection. Based on what kind of coverage you’re being provided, the health plan can be divided into the following two categories:

  • Medical insurance

The medical insurance policy aims at reimbursing the costs incurred if there is a case of hospitalization. You will either receive a cashless facility or reimbursement for the expenses incurred.

  • Critical Illness

Another type of family health plan available is critical illness insurance. This policy covers chronic diseases such as heart attack, paralysis, etc. The insurer will offer you with a lump-sum amount for the treatment. You must note that you cannot purchasea critical illness plan as a single policy for the entire family.

Before purchasing the family floater health insurance policy, check for the various plans available online. Look for the premium amount you’re asked to pay for the coverage offered. You can also make use of the health insurance premium calculator available online to get quotes instantly. Once you’ve come down to a health plan, make sure to go through the terms and conditions of the policy thoroughly so you don’t make any mistake while filing the claim. When you’re doing that, look for the list of network hospitals your insurer has to provide along with the coverage and exclusions. It is always better to know everything about your policy before buying, so your claim doesn’t get rejected in the future.

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