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Insurance Article

Family Health Insurance Plan Secures Your Entire Family for Life

April 12 2010

If you have been living in India and are a part of its traditions and culture, then you already understand and relate to the bond that Indians feel towards their family members.

This is reflected by the existence of the concept of a family health insurance plan in the country which would allow you to bring your whole family under one single plan. A family health insurance policy is the most cost effective and convenient method of protecting the health of your family and your own long term financial stability because of the following reasons.

  • The first and foremost advantage is that a family insurance plan can allow you to save a lot of money. This can happen if you compare the financial calculations of individual medical insurance policies and a family health insurance policy
  • Such type of medical insurance policies also can give you the same kind of tax related benefits that individual medical insurance policies provide. This means that you not only save money during directinvestment into the policy but also indirectly via tax benefits
  • A family medical insurance policy can also allow you and your family to avail features such ascashless claims facility which many insurance carriers include in theirpolicies
  • Some insurance carriers can even go a step ahead and allow you to continue availing the benefits of the family insurance policy even if a claim is being processed
  • Moreover, a family health insurance plan can also not have clauses that put a limit on costs related to room rental, doctor fees or any associated charges
  • Also,there can be no concept of co payments when it comes to a family healthinsurance policy, unlike many types of individual medical insurance policies
  • One problem with medical insurancepolicies is that the policy holder often forgets to renew them on time.However, these policies come equipped with the auto renewal featurethat would make life easier for you
  • 8.Finally, the problem of terrorism is very threatening. As a result of the prevalent scenario, many insurance carriers provide family health insurance plans that can even take into account injury resulting from terrorist activities
  • As is more than evident with the above mentioned benefits, a family health insurance policy can easily make yours and your family’s lives a lot easier, both health wise and with respect to your finances.

  • Summary:

    A family health insurance policy or, alternatively, a family health insurance plan is a much better option for insuring the health of the family. The reason why a family health insurance plan or a family health insurance policy is so much better than medical insurance is because of the added financial and health related benefits that it provides.

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