The health insurance domain is quite wide-ranging as it encompasses more than a few types of plans, features, services, and pay-out methods that might go well with the exceptional needs of every individual. Factors that are kept in mind while devising these plans are the age, financial limitations, health concerns, and medical requirements of potential seekers. Normally, health insurance plans can be classified into two major categories that are individual health insurance policy, and family health insurance. If you have already bought the Best Health Insurance Plan for yourself, remember to fetch the Best health insurance policy for your family with a myriad of health insurance plans for the family.
The Prominence of Health Insurance for Your Family Members
An individual health insurance policy strives to secure one person under the plan. For example, if you purchase an individual plan for yourself, you are eligible to file a claim for your medical expenses such as hospitalization, doctor’s consultation fees, ambulance costs, surgery expenses, diagnosis expenses, AYUSH treatment, etc.
If you have dependents such as a wife, children, parents, or parents-in-law, your current policy will not offer any coverage to them. It signifies you have to find a List of the best Health Insurance Plans
and buy a health insurance plan for the family that best suits their needs. Individual health insurance plans are generally ideal for youngsters who do not have any dependent family members. Though, as you age and welcome more responsibilities in your life, possibilities may arise that will make the plan less competent. This is where family insurance plans enter the scenario.
Family health insurance is a category of health insurance that offers coverage to your entire family with unified protection. It encompasses the spouse, dependent children, and dependent parents. It consists of only one premium and one insurance amount. It implies that the insurance organization does not charge you a separate premium for all dependents. So, an insurance buyer is only responsible to pay one premium, and in return, the insurance company presents all-inclusive insurance protection to all the people insured under the policy. The sum insured by an affordable Health Insurance plan for the family is shared between all the insured dependents.
Benefits of Health Insurance Plans For Family
All-inclusive coverage: The health policy for the family comes with comprehensive coverage. These plans help you manage a multitude of expenses such as pre and post-hospitalization, ambulance costs, organ donation, surgery costs, and so forth.
Tax benefits: Tax exemptions that come with health insurance can help you save a significant chunk of money. Under Section 80D of the Income Tax Act, 1961, a policyholder is entitled to claim a tax deduction of up to ₹25,000 (under the age of 60) or ₹50,000 (beyond the age of 60) for a policy for yourself, your spouse, or your children. It is also possible to can claim another tax benefit of up to ₹50,000 if you’ve purchased a health insurance plan for your parents ultimately making the total allowed health insurance tax deduction limit climb up to ₹1 lakh.
Economical premium: The best health insurance plan for your family can help you enjoy affordable premiums that are jam-packed with features and benefits. It permits you to secure your loved ones without getting a dent in your bank account and hampering other future financial goals.
Peace of mind: As it is feasible to cover all your loved ones under a single policy, you have nothing to stress upon. A family health plan helps to keep your peace of mind intact by defending all members of your family.
Preventive health insurance check-up: As more and more these days follow a sedentary lifestyle, it gets more important than ever to get regular health-chek ups. The best health insurance policy for families aims to offer broad coverage for preventive health check-ups. It helps you detect a disease in its budding stage and acquire the right treatment in time. And don’t forget that medical check-ups also enable you to stay fit by encouraging you to embrace a healthier lifestyle.
Discounting: In comparison to individual health plans, the best health insurance policy for the family helps you save money. You are only responsible to pay one premium instead of making several premium payments. It will ultimately work as a catalyst that will lead to a reduction in the money spent and the best part is there are no compromises on the benefits.
Cashless claims: The health insurance providers maintain tie-ups with hospitals across the country. You can use the cashless hospitalization facility at any of the network hospitals. It doesn’t compel you to produce any hospital bills, as a result of which, there will be no interruptions in your treatment.
Besides buying an affordable Health Insurance Plan for yourself, make sure to give your loved ones the gift of peace of mind that comes with family health insurance policy. It is one of the best investments that you can make today to get rewards later. You can buy a plan that best goes well with your family’s healthcare needs online hassle-free.