In today’s uncertain times, having healthcare insurance is not an option but a necessity. However, there are numerous policies available in the market. The vast number of policies make it difficult to choose the right plan. Moreover, many a time, individuals end up buying a health plan without fully understanding its adequacy for their family’s requirements, either due to the hassle or time constraints involved in researching.
Thus, having a proper understanding of how to choose healthcare insurance comes in handy at such a time. Thus, this article will provide valuable tips to help individuals select the best family health insurance plan in India. Following these guidelines, readers can confidently make informed decisions and secure their loved ones’ health.
What is a Family Healthcare Insurance?
A family health insurance policy represents medical insurance that provides coverage for all members of a family within a single policy. This plan provides a fixed sum that is collectively shared among all family members.
What are the Benefits of a Family Healthcare Insurance?
The benefits of a family health insurance policy are numerous. Some of them are:
1) Stress-Free Hospitalisation Cover
During hospitalisation, the policyholder’s family members can access cashless treatment at the insurer’s network hospitals. It ensures that all family members receive medical attention without compromising their treatment.
2) Health Cover for Parents
Numerous healthcare insurance companies offer the option to include parents and parents-in-law under a family health plan without any extra premium. It enables individuals to safeguard the health of their parents and their spouse’s parents under a single comprehensive plan.
3) Premium Affordability
Family healthcare insurance plans offer the advantage of not needing individual premiums for each family member. It means one can easily cover their spouse, child, and parents under the same plan at a reasonable premium.
4) Insure New Family Members Easily
The family health insurance plans India come with an option to include a new family member by paying an additional premium. Unlike individual covers, there is no need for a new policy with every family addition.
Tips to Identify the Best Family Healthcare Insurance
One must consider the following factors when purchasing the best family health insurance plan in India:
1) Coverage Benefits
When purchasing family healthcare insurance plans, it is crucial to assess the coverage benefits thoroughly. Typically, such plans encompass in-patient hospitalisation, pre and post-hospitalisation, daycare, domiciliary, organ donor, and road ambulance expenses.
Additionally, individuals can explore other inclusion benefits, such as rebuilding benefits, lifetime sustainability benefits, tax benefits, and more.
2) Flexibility to Increase the sum Insured
The cost of medical treatments can fluctuate over time. Therefore, individuals should look for a family healthcare insurance policy that provides flexibility to increase the total coverage during renewal. Certain healthcare insurance companies offer an increment in the sum insured as a reward if the policyholder has not made any claims in the previous year.
3) Cashless Hospitalisation
The cashless hospitalisation benefit provides a stress-free experience, eliminating the need to manage funds at the last moment for necessary treatment. When selecting a family healthcare insurance policy, ensuring that the insurer has adequate tie-ups with medical facilities offering credit-only treatment is essential. Additionally, it is advisable to shortlist hospitals near the residence to avoid wasting time during emergencies.
4) Maximum Renewability Age
Family health insurance plans in India typically offer lifetime renewability benefits. However, certain healthcare insurance companies may limit the renewability age to 60-65 years. Considering this factor is crucial as it ensures individuals remain protected during old age when they may need it the most.
5) Policy Exclusions
As important as it is to review the inclusions in a healthcare insurance policy, it is equally vital to examine the exclusions. A policy with minimal exclusion is recommended to ensure comprehensive coverage and enjoy maximum benefits.
Purchasing a family health insurance plan in India requires careful consideration of various factors. It is essential to assess these factors before buying insurance to ensure comprehensive protection for the family’s healthcare needs.
If you are looking to obtain the best health insurance plan in India, then consider Niva Bupa Health Insurance. Niva Bupa will provide one with peace of mind and ensure a healthier future for loved ones. Get a quote today and safeguard your family’s health today.