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FAMILY HEALTH INSURANCE

A family health insurance plan is a comprehensive insurance cover against financial risks for more than one individual in a family, during a medical emergency. It offers a specified coverage amount for a single premium payable annually. Family members usually covered in this plan include individual, spouse, and children. Dependent parents can also be included in health insurance plans for the family. Sometimes, siblings and extended family members like in-laws can also be included in such health insurance plans at an additional premium cost. Family health insurance plans offer coverage for various medical expenses including pre-and-post hospitalization, in-patient hospitalization, ambulance costs, etc.

How Important is Health Insurance for your Family?.

We look towards our family when we need encouragement, love and support. Family makes us feel secure. So, it is our responsibility towards our family members when it comes to ensuring a secure future for them. Sound planning for the family household expenses is of utmost importance to prevent a financial crunch. However, unexpected expenditures in times of medical emergency can hamper a family's budget to a great extent. Thus, opting for health insurance plans for family is absolutely necessary for safeguarding one's family budget.

Health insurance plans for family are designed to provide complete coverage for the medical treatment for more than one member of a family. If one member of the family is hospitalized due to an ailment or injury, the entire sum insured under this family health plan can be availed for the treatment.

Benefits of Family Health insurance Plans.

  • High sum insured:
  • The plan offers increased sum insured under a single policy as compared to the individual health plan.
  • Cashless hospitalization:
  • Just like the individual health plans, health insurance plans for family also offer cashless treatment in the network hospitals of the insurer.
  • Affordable:
  • Under a single premium that is paid once a year, a family health insurance plan covers the medical expenses for all the family members.
  • Option to add members:
  • Policyholders have the option to add or change the members of the family in the same plan, also increase the sum insured, instead of availing a separate plan for the new member.
  • Tax Benefits:
  • Policyholders of health insurance plans for family can enjoy tax deductions, under Section 80D of the Income Tax Act, on the premium they pay.