A health insurance plan for yourself and your loved ones can come in handy, especially when there’s a medical emergency. Paying out of your pocket for your family members may not be a feasible long term plan, and hence, investing in family medical insurance can be the way out. If you are contemplating which health insurance is best, these tips can help you make a comprehensive decision.
Why should you buy Insurance for your family?
Aside from the apparent reason that you care for your family, investing in dependable family health insurance can help you. Medical care comes for a cost, which has only been escalating over the years. Getting a health cover for your family and yourself can prove helpful in times of an unexpected medical crisis. Isn’t it always better to be prepared for unforeseen expenses? Medical treatment at a quality facility can be pretty expensive. If you get a floater health insurance policy, it can provide financial protection against the cost of treatment for an array of diseases. This will help you secure your financial status against any medical emergency.
Most top-rated insurers providing health insurance offers benefits such as:
– Respite from the hassle of remembering your insurance renewal. Also, you don’t have to remember the terms and conditions of separate claims.
– Some floater plans make a cheaper investment than buying separate policies.
– You can avail of tax deduction benefits under Section80D of your Income Tax Act.
Reasons to invest in a reputed Insurance Policy
While many insurance companies offer family Mediclaim insurance policies, it is essential to choose one based on your specific needs and budget. If you cannot fathom which health insurance is best, it would be better to compare top-rated providers’ family medical insurance policy features.
Top insurance companies have provisions where users can include a couple of benefits as add-ons at nominal costs. Such benefits are many and can also include maternity insurance. Here’s why you can opt for a family health insurance plan.
Safeguard family members together
You can get several family members under a single policy instead of relying on different policies for each member. Other than yourself, a family health insurance policy can cover your spouse, children and elderly parents. One of the best things is that you may not have to compromise on the medical expenses for any members covered under the plan.
Avail premium healthcare services
Paying medical bills and hospitalisation bills at top-notch health care centres can drain your savings. A floater family medical insurance can enable you to avail of medical facilities at super speciality hospitals. From consultation fees to diagnostic charges for various ailments, including critical illnesses and surgical procedures, reliable health insurance covering your family can take care of all such costs.
Single sum assurance
If you are scouting information on which health insurance is best, you can look up family floaters as they can get you a single sum assured for the entire family. Most such plans enable you to claim the whole amount of the insured sum for any members as and when required. Also, in the event of the death of any member, the policy will not terminate and will stand valid for the rest of the family members with the existing benefits.
Deal with inflation in medical expenses
The cost of accessing medical facilities is on the rise, making it difficult to pay for an expensive surgery in case of an emergency. A health policy for your family ensures exemption from Income Tax liability, it simultaneously covers medical expenses for your spouse, children and parents. If your parents are senior citizens, you can expect to claim a higher deduction.
Protect your savings
With a cashless facility at network hospitals, a reliable family Mediclaim insurance policy makes sure that you don’t have to pay anything out of your pocket at any of the registered hospitals. You might be availing of higher discounts from your insurer, especially if more members are added under your family floater plan. With no intermediaries and brokers, you can get good discounts to save more and share your savings with the policyholders. Lookout for available discount offers while renewing your policy.
Long-term security
Investing in a health insurance policy early in life can assure enhanced security against any health issues. Buying a policy when you are young will cost you lesser and reward you better in the long term. You can avail of a range of facilities and get optimum coverage for yourself and your family members.
Make sure to weigh out the pros and cons of the top-rated policies before purchasing your health insurance instrument.
