ATK
New Delhi [India], May 17: We all are aware of the fact that health is the real wealth in life. And when you and your family are healthy, you will always be surrounded by a sense of contentment. However, you must also remember that life is full of ups and downs, where unpredictable circumstances can adversely affect the health of your family members.
These are the situations when a health insurance policy comes to the rescue. It is because health insurance policies provide you with extensive coverage of medical expenses, relieving you from facing financial burdens.
Scroll down to learn more about how you can benefit from health insurance for your family.
What are the Benefits of a Health Insurance Plan for a Family?
The following points showcase the advantages of health insurance for family:
* Coverage for Medical Expenses
The primary and most important benefit you can get from a health insurance policy is to cover the medical expenses of your entire family. It includes your spouse, dependent parents, dependent children and your dependent parents-in-law. You can get coverage for diagnostic tests, doctor's visits, surgeries or any other medical expenses.
From pre-hospitalisation expenses to post-hospitalisation and ambulance costs, you would not have to stress yourself out for such hospital bills anymore.
* Lower Premiums
Opting for a family health insurance policy can be a cost-effective way to meet all the health requirements of your family. This is because family insurances tend to be more affordable than individual health insurance plans for each family member. Hence, the premium you need to pay monthly comes at lower rates as compared to the individual plans.
Besides, family health insurance plans tend to have lower deductibles and copayments, allowing you to save considerably and effectively manage your own expenses.
* Cashless Claims
You can get the facility of cashless claims along with the option for reimbursement claims. It is so since insurance companies usually have tie-ups with a wide network of hospitals, where you have access to medical treatments without paying any money.
Even though you may be expected to pay a minor fee to avail of this facility, you can provide optimal medical support to your family without any financial burden. Through this facility, the claim would be directly settled by your insurance company.
* Adding New Members Policy
With a family health insurance plan, you can have the advantage of adding a new member to the insurance plan. If you welcome a newborn to your family, you will be able to add the baby to the plan as well based on the terms and conditions of your health insurance policy.
For that, you need to inform the company and may be required to increase the premium a little. Also, you can add a new member to the plan even in the middle of a policy term without any hassle.
* Preventive Health Care Services
You can have access to preventive health care services through family health insurance, such as vaccinations, annual check-ups and screenings. These services are essential to maintain the good health of your family and to identify any issues before they get serious to cure them.
Moreover, you can have access to these services free of cost, thus letting you save money by avoiding expensive medical procedures.
* Tax Benefits
Policyholders of health insurance for family can also have access to tax benefits under section 80D of the Income Tax Act, which is up to a specific limit. A certain percentage will be deducted from the monthly premiums that you pay for the insurance plan.
This is no less than an added advantage for individuals to increase their savings and reduce their taxable income.
* No Claim Bonus
There are several health insurance providers who offer an annual bonus to the beneficiaries as a reward for not raising a claim for a year. This reward is known as the no-claim bonus, letting you save some funds. However, you must inquire about such rewards in the terms and conditions of the policy you are opting for.
* Peace of Mind
Needless to say, family health insurance plans provide you with a sense of peace and assurance regarding your financial stability. Since health issues can be unpredictable in life, you never know what would happen to someone in your family. Hence, being financially secure enables you to deal with such difficult situations effectively.
The Bottom Line
While it is common to worry about your family's health, you must take appropriate measures to secure yourself financially to deal with medical emergencies. Having a health insurance plan allows you to access proper medical treatments on time without creating any financial burden on you. Hence, even after leading a good lifestyle, opt for family health insurance to have a safe and secure family in the long run.
To know more about family health insurance plans and premiums, feel free to contact ACKO.
(ADVERTORIAL DISCLAIMER: The above press release has been provided by ATK. ANI will not be responsible in any way for the content of the same)