family comes first so opt the best health policy for family

Family health insurance is the best option



Health Insurance companies in India today provide a wide range of insurance products that match with the varying requirements of different individuals. These products are made available both within the country and across national borders as well. When we talk of insurance plans and policies made available at global levels one question that does arise in the minds individuals is "can NRI’S purchase health insurance in India?"…the answer to which is usually a "Yes" .Several insurance companies operating in India offer insurance plans for NRI’S. The range of products offered by these companies cover almost every requirement, promising security as well as returns. Thus these companies extend to a wide range of people with a wide variety of products.



Among the various insurance products that insurance companies in India provide the most popular is the family health insurance plan. Family Health Insurance, as the name indicates, is a specialized term for health insurance policies which provide financial coverage to the entire family against medical expenses due to an illness, injury, accidents and unforeseen catastrophes such as terrorist attacks. The premise is to cover the entire family under one comprehensive package instead of the tediousness of individual med claims. As the extent of cover provided is determined by the affordability of the premium, family health insurance policies are highly recommended as they reduce the over all costs of the premium.



Under-equipped public sector health care facilities, expensive private hospitals, rising cost of medicines and diagnostic tests add up to huge medical bills in the event of a family member falling ill. Add to that the risk of contagious diseases and you have a financial crisis on hand. In case the main breadwinner takes ill, the situation becomes even graver. Hence, it is not tough to see why family health insurance should be a priority in your regular financial planning. Moreover, in today’s competitive insurance industry, insurance firms have started offering what are called ‘Family Floater Health Insurance’ plans. The salient feature of these family health insurance plans is that the entire family can share the benefits of the total sum insured without any individual upper limits, as opposed to regular mediclaim policies.



An individual is thereby only left with the responsibility of choosing what best suits your requirements .What you then have in hand is the best health policy for family. And everything else is taken care of by the insurance products that you opt for.



Insurance companies in India provide you with the following benefits of Family Health Insurance

• Most family health insurance plans incorporate Hospital Cash benefits which entail daily cash payments during the period of hospitalization.

• Subject to certain pre conditions family health insurance plans offer cashless hospitalization in an established network of empanelled hospitals.

• Most family health plans also consider pre and post hospitalization expenses to the tune of 30 days prior and 60 days after. Depending on your premium this may go up to 60 before and 90 after.

• Family Health Insurance plans operate on a bonus system wherein every claims free year gives you a ‘cumulative bonus’ depending upon the plan and companies norms..

• Logistic incidentals such as ambulance charges are also covered.

• Family Health Insurance Plans also entitle you to significant tax savings on the premium paid under section 80d of the Income Tax Act.

• Based on the duration of your plan you may be provided protection for pre-existing illness, which are generally outside the ambit of mediclaim policies.

• Family floater plans usually work out to be cheaper than regular health insurance plans.

• Some policies also allow for renewals up to 70 years of age. While the premium for this may be relatively higher, it is a much recommended feature as senior citizens find it increasingly difficult to secure coverage as most mediclaims are extremely stringent post 60 years of age.



Family health insurance has multiple benefits that aim to support you during a medical crisis in the family and can be easily purchased or renewed online by comparing insurance quotes for the best deal.