Features Of A Good Insurance Plan To Protect Your Family

Health insurance plans for family

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With an increase in health issues and diseases, it has become of utmost importance to safeguard our family and several insurance plans focus on the same idea. Health insurance plans for family are many and may be difficult to choose from. While all of them provide comprehensive coverage to family members, against a single premium, you must know what you should consider before buying a policy. 

Medical Insurance is now widely available, a family or a person should get proper treatment and not have to worry about the lack of funds in case of a medical emergency. While looking for health insurance, people search for the best plan available, but you must wisely pick a plan which caters to the specific needs of your family members. 

Features of a good health insurance family plan 

The specific features differ from one plan to the other, but the basic features are mostly common: 

  • Accidental cover: Health insurance plans for family provides accidental cover in case you suffer any disability, injury, or death due to an accident. In some cases of permanent disability, premiums are also waived. 
  • Cashless hospitalisation: The policy helps you get immediate medical attention in a hospital, without worrying about payments. 
  • Maternity cover: Health insurance plans for family offer the feature of maternity cover for expecting mothers. Delivery expenses and hospitalisation charges are covered under this policy. 
  • Critical illness coverage: In case the insured suffers any critical illness, he or she will receive a payout from the first diagnosis itself. It is not required to present any hospital bills for this payment. 

Benefits of a family health insurance plan 

  • Cost-effective: A person can fall sick at any time, it is unpredictable and has life changing effects. A family health insurance plan is a must-have and not only is it affordable but also provides extensive coverage to all family members against a single premium payment instead of paying for multiple policies. 
  • Convenient: People can easily buy and maintain this policy. There are less chances of forgetting to pay premiums, so it makes healthcare accessible to all and the entire process of stress free and easy. 
  • Tax benefits: As per Income Tax Act of 1961, any premium paid against family health insurance plans has tax benefits.
  • Easy addition of new family members: When buying a family insurance plan you must check if it allows addition of new members. If the insured has just had a baby, and they wish to insure the new member, they can easily do so by adding them to the existing family plan without having to buy a new policy. 
  • Additional covers: Health insurance plans for family provide additional benefits like additional covers and discounts to make the plan more lucrative in comparison to individual plans. 

Exclusions of Family Health Insurance Plans:

These are some exclusions of a family health insurance plan, note the waiting period after buying the policy, injuries caused by war or terrorism or suicide attempts will not be covered, cosmetic surgeries and treatment by an under-qualified medic or doctors is excluded. 

Top 3 good Health insurance plans for family

  1. Bajaj Family Health Insurance Plan offers a huge sum assured, and you have to pay a single premium amount for the whole family. It is easy to add new members to the policy, it also covers ambulance charges, provides free health check up and no pre-medical tests are required. 
  2. Aditya Birla Activ Health Platinum Plan covers in-patient, pre and post hospitalization expenses for 60 days and 180 days respectively. It also covers day care treatment expenses, ambulance charges, organ donor expenses, and second opinion on critical illnesses. 
  3. Bajaj Allianz Family Floater Health Guard offers a maximum coverage of 10 lakh. The policy offers a cumulative bonus for each claim. Moreover, the plan also provides tax benefits and a grace period to renew policy. As this is a family health plan, it provides coverage to the entire family under a single plan.

Key takeaways

Health insurance plans for families are the need of the hour. People must read and research well to make an informed decision. It is important to note the inclusions, exclusions, and terms and conditions in a policy so that you have a clear idea during claim settlement. Easy access to quality healthcare benefits, covering all the members of the family against a single premium payment, is one of the best ways to protect your family members, their health, and their wealth.

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