Did you know that you could secure health insurance for your siblings? This caring present gives them the security of knowing they will be safeguarded for life. Whether it’s Raksha Bandhan or any other occasion, gifting health insurance for a brother and sister is more than a thoughtful gesture.
Why Should You Get a Health Insurance Cover for Your Sibling?
There are several reasons why it is smart to have health insurance for siblings. This policy covers all hospitalisation costs, including room rent for the duration of your stay. Extended health policies also include pre and post-hospitalisation expenses, maternity benefits as well as day-care procedures which do not require 24-hour hospitalisation. Moreover, certain plans offer regular health screenings every month, covering all the basic forms of medical protection you and your sibling could need.
Pros You Enjoy With Health Insurance Policy for Brother & Sister
Financial Security
Health insurance will prevent your sibling from paying expensive medical bills. This can be crucial during emergencies, especially with rising healthcare costs.
Cashless Hospitalisation
Most policies provide cashless treatment within network hospitals. This ensures your sibling will not have difficulty arranging funds for a health emergency.
Tax Benefits
The premiums you pay for health insurance on behalf of your brother or sister can make you qualified to claim tax benefits under Section 80D of the Income Tax Act. It's a win-win situation - you save on gifts while safeguarding your younger brother or sister.
General Tips to Buy a Health Insurance Policy for Your Sibling
Compare Plans
Take your time before selecting the most appropriate policy. You should also compare plans based on coverage, premiums and benefits. You may use an online insurance aggregator to hasten the process.
Check for Cashless Benefits
Opt for plans with an extensive cashless hospital network. This could prove to be a significant benefit in the case of any medical emergency.
Read the Fine Print
Read the terms and conditions properly before opting for a policy. Keep an eye out for exclusions, waiting periods and the claim process. This can help you to choose a plan that is most suitable for your sibling.
Conclusion
Health insurance for siblings transcends being merely a financial product; it embodies an expression of love and care. When you protect your loved ones from unforeseen medical bills, they have one less thing to worry about. It's a practical way to show your siblings how much they mean to you while ensuring they have access to quality healthcare when needed most.
Disclaimer: The information provided in this blog is for educational and informational purposes only. It is not intended as a substitute for professional advice, diagnosis, or treatment. Please consult your general physician or another certified medical professional for any questions regarding a medical condition. Relying on any information provided in this blog is solely at your own risk, and ICICI Lombard is not responsible for any effects or consequences resulting from the use of the information shared.