The rising cost of healthcare in India has compelled many people to buy health insurance offered by competitive insurers. These health insurance policies tackle all odds just to keep families and individuals protected and to overcome hospitalisation losses.
Therefore to avail such benefits and to keep away from losses, you must opt for a family health insurance policy. A family health insurance plan covers a significant portion of medical expenses when any of the insured members are hospitalized. Such insurance policies come to the best use during the age of pandemics as well. The need to have health insurance was felt the most during the COVID-19 pandemic that left many families neck-deep in debt due to the high hospital bills.
Here is a List of Benefits Under the Family Health Insurance Policy.
1. Single Coverage for Entire Family
Post the second wave of COVID, everyone has understood the importance of having a medical fund secured to cover their family’s medical needs. But you might be confused between purchasing a single, family health insurance that covers everyone and individual health insurance for all. If you’re someone who loves and prefers to keep things simple and organized, you will like the convenience a family health insurance offers.
As it covers all your family members under a single policy, you don’t have to manage multiple policies simultaneously. It also reduces paperwork and makes premium payment relatively simple and hassle-free.
2. Avail Affordable Premiums
If you take individual health insurance plans for all your family members, the premium amount will be way higher compared to the premium you’ll be paying for a comprehensive family health insurance plan. So if you want to secure your entire family without having to overburden yourself with a high premium, go ahead with family health insurance plans. They offer the same set of benefits you’ll get in individual health insurance plans but at a much affordable and reasonable premium.
3. Insured Members can Avail High Coverages
One of the best benefits of getting a family health insurance plan is the option to use the entire sum insured on a single insured member ( if the need arises). Family floaters usually have a high sum insured compared to individual health insurance plans. So if any insured member falls ill or needs immediate hospitalization, the entire sum insured can be utilized for his/her treatment.
4. Coverage on Maternity Benefits
With the rising maternity costs, it will be wise to cover these expenses in a health insurance plan. Luckily, there are some family health insurance plans that offer maternity cover in their standard version.
But if the policy you’ve shortlisted doesn’t have this cover, you can ask if the maternity cover can be purchased as an add-on for an additional cost. Maternity covers are great for people who’ve recently married and are considering starting their parenting journey after a few years.
5. Easy to Add/Remove Members
A great thing about family health plans is the option to add and remove members from the policy with ease. This feature helps when someone in your family dies, and you no longer have to keep their name in the insurance papers. You can add/remove members in a few easy steps by getting in touch with your insurance agent.
6. Lucrative Tax Benefits
Another great benefit of buying family health insurance plans is the option to avail of tax benefits. A policyholder can easily claim a deduction of up to Rs.25, 000 while filing IT returns, if he/she has purchased a family health insurance policy. If your parents are senior citizens, the deduction limit can be as high as Rs. 50,000. This benefit is particularly beneficial for people who are working professionals and need tax relief in some form or the other.
Also read: What You Can Do with Your Savings
Choose Arogya Sanjeevani Health Insurance for Affordable Premiums:
If you are someone looking to buy health insurance without making a hole in your pocket. Here’s just the right insurance cover for you.
Arogya Sanjeevani policy is for those looking for budget-friendly insurance and also to avail maximum number of benefits. At this point, it is advisable to buy the Arogya Sanjeevani health insurance policy in order to secure your family against unforeseen medical emergencies with affordable premiums. A standalone health insurance policy that covers an equal number of benefits as family health insurance for a minimal premium amount. This policy can secure an individual, his/her spouse, dependent children, dependent parents, and parents-in-law along with added members to the family.
With so many benefits attached, you should not have any second thoughts about whether you need a family health insurance policy or not. So start looking for the best family insurance options available in the market, and take the one that ticks all the ideal boxes for you and your family.