How To Choose The Best Health Insurance Policy For Family In India?
A family health insurance is a policy that provides coverage to the whole family unit under a single program. It provides an overall coverage against pre and post-hospitalization, medical expenses, ambulance charges, etc., in example of whatever medical emergency.
Health insurance family plans are beneficial as they cover the sky-high medical expenses then that the treatment of a disease of you or your family members doesn't put a paring in your savings. To cull the best health insurance plans in India, y'all accept to keep various points in your mind.
The claim settlement process under a family health insurance policy can be divided into two types:
1. Reimbursement Claim: In this blazon of claim settlement, the insured person has to pay for all the expenses from the pocket. All the bills are kept safe past the policyholder, which is so submitted to the insurance provider's office with a merits settlement grade. The discharge slip is a must while claiming medical coverage. These documents and bills are then verified, and the corporeality is reimbursed to the policyholder.
ii. Cashless Claim: In this type of policy, the policyholder does not have to pay a single rupee on the expenses that occurred for the handling. All the claims are settled on a cashless basis by the insurer, considering the treatment is taken in one of the network hospitals under the insurer's chain of healthcare providers.
Advantages of Family unit Health Insurance Policy:
- All the immediate family unit members, such as spouse and children, are covered.
- It provides cashless claim settlement for pre and postal service-hospitalization, medical expenses, etc.
- A family floater plan provides coverage confronting daycare treatments such as dialysis, cataract, etc.
- Some of the health insurance companies provide the option to add your dependent parent and siblings under the same policy.
- Health insurance family plans provide tax benefits nether Section 80D of the Income Tax Act.
- An individual tin can hands add new members to the same policy program during renewal.
- Information technology is easy to manage and keep track of family floater plans than individual policy for each member of the family unit.
Intendance Insurance, with over 15500 healthcare networks, and an easy cashless claim process, and a CSR of 95.two%, provides one of the best family health insurance plans in Republic of india.
Disadvantages of a Family unit Health Insurance Policy:
- If a member of the family files a single large claim due to any health-related issue. The balance of the family members are left unprotected due to the lesser amount of remaining coverage.
- If multiple smaller claims are made past one or more members of the family unit, they might claim the entire sum insured past the policy inside a short period, making them unprotected for the residue of the policy elapsing.
- Some health insurance companies take a maximum renewability historic period, due to which a member of the family who has reached a sure age might be at the adventure of losing their health insurance.
Before buying a family health policy, an private must keep his needs and requirements in mind and consider checking various health insurance family plans from different insurers to avail maximum benefits.
Source: https://www.findhealthtips.com/health-insurance-policy/
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