Medical care today requires family financial security. Emergency medical expenses are covered by family health insurance on a per-person or per-floater basis. There are a plethora of health insurance companies that offer family health insurance plans with great benefits, a large cashless hospital network, and fast claim settlement.
Family health insurance?
A family health insurance policy covers all family members. This plan assumes that not all family members get sick at once and share a fixed sum insured. Most family health insurance plans cover pre- and post-hospitalisation, maternity, and cashless hospitalisation.
Family health insurance benefits
There are many health insurance benefits in family floater plans for insured family members. One policy can cover all family members, regardless of age. The main benefits of family health insurance are:
- Easy hospitalisation coverage
Like individual health plans, insured family members can receive cashless hospitalisation in a network hospital. This way, you can get all your family’s medical care without compromising treatment.
- Add parents to your plan
Several health insurance companies offer family health insurance plans that cover parents and parents-in-law at no extra cost. One plan can cover your and your spouse’s parents.
- Affordable premium
Family health insurance plans can let you cover your spouse, child, and parents at a low cost. Given their age-related health issues, you should buy your parents individual health insurance. *
- Easily insure new family members
With a small premium, you can add a family member to a family health insurance plan. Unlike an individual policy, you don’t need a new policy when your family grows. Increase your sum insured when adding your parents to a family health insurance plan. You can even buy health insurance online and save a lot of effort. ##
- Family COVID insurance
Coronavirus insurance protects you and your family from COVID-19. The floater-based ‘Corona Kavach policy’ covers hospitalisation costs for coronavirus treatment, even though all insurance providers cover it under basic health insurance plans.
- Additional benefits available
Family health plans offer critical illness, maternity, and other add-ons. Before choosing the best family health insurance plan, check the policy terms for any add-on cover waiting periods. Check these on your health insurance app. *
- Health insurance premium tax benefits
The income tax exempts health insurance premiums under Section 80D. Tax benefits are available if you pay your family and parents’ health insurance premiums. **
What does family health insurance cover?
These will be a part of your health insurance benefits. See the most common family health insurance coverage:
- Hospitalisation expenses for more than 24 hours due to illness or accident are covered
- Day care procedures that require less than 24 hours of hospitalisation are covered
- In a medical emergency, ambulance charges are covered
- Pre and Post-Hospitalisation Expenses–Medical expenses incurred before hospitalisation (medical investigation, tests, etc.) and after discharge (follow-up consultation, etc.) are covered up to a certain number of days
- Maternity Cover– Most family health insurance plans cover pregnancy and newborn expenses
- Organ Donor Expenses—It covers organ harvesting and donor-related expenses
- Ayurveda, Homeopathy, Yoga, Siddha, and Unani hospitalisation costs are covered
- Domiciliary Treatment—It covers doctor-recommended home treatment costs
- The policyholder receives a daily hospital cash allowance to cover incidental expenses
- Depression, anxiety, schizophrenia, and other mental illnesses are covered by most family health insurance plans
- Get cashless health insurance for all family members so that hospitalisations are easy and accessible to all
* Standard T&C Apply
** Currently, there are 2 tax regimes in India – new and old. To get the tax benefit you desire, choose the correct one after consulting an expert. You can opt for a regime change during the next financial year.
## All savings are provided by the insurer as per the IRDAI-approved insurance plan. Standard T&C apply
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.