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Insurance Article

Everyone gets an equal share of happiness with family health policy

April 15 2010

Healthcare costs are on the rise, keeping pace with the medical advancements. Even if you spend on your high quality lifestyle and eat the most hygienic food, still there is no assurance that you would never have a sudden bout of illness or would never meet with an accident. These types of risks are therefore not known in advance and you do not think about them occurring in your life. The same thought also applies to your family members.

A family health plan is therefore necessary to combat such sudden incidents. A health insurance plan cannot prevent any unexpected incident from happening.But with an appropriate family health policy you can certainly extend financial protection against the expenses resulting from unanticipated risks. A comprehensive medical insurance plan makes sure that your entire family remains protected at all points in time.

You just need only one family health plan to extend financial protection to your entire family under the terms and conditions specified in the policy document. With the family health policy,you can extend the cashless hospitalisation facility to your entire family. Several hundreds of hospitals across the country in India participate in cashless hospitalisation program of various insurance companies.

A medical insurance for the entire family offers several benefits to the policyholder. The first and foremost benefit even if you have never taken a family health policy, is in the form of income tax benefits. The amount of premium paid towards a family health plan is exempted to a specified extent from the total taxable income. You need to check with your financial advisor on the exact amount, which may vary from time to time. The cashless hospitalisation network of insurance companies providing medical insurance for the family is growing rapidly.

Some of the insurance companies may even waive off the requirement of the health checkups up to a certain age if you purchase a family health plan online. \With the network of third-party administrators (TPA), the medical insurance companies consistently try to provide the best of their claim settlement and other services to a holder of the insurance policy. Similarly, some insurance companies have their own in-house health claim processing and wellness team to speed up the entire process. A specialised family health policy does not place any sub-limits on room rent, doctor fees, and hospital charges or for any disease covered under the policy. If there are any exceptions, they are clearly mentioned in the policy document.Similarly, there may not be any requirement of co-payments for covered diseases in case of hospitalisation.

Therefore you can take a medical insurance policy that incorporates the benefits of the above mentioned points to the best possible extent.

Summary:

A family health policy or family health plan is the easiest way to share the same happiness and protection under one-single medical insurance.Though you cannot rule out the uncertain risks, what you couldcertainly do is to protect your family financially by purchasing a family health policy providing a comprehensive family health plan from a reputed medical insurance company.

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