Why take a family insurance plan? Here are 7 reasons..
In case of a medical emergency, it is not easy for the common man to bear the financial burden. That is why we talk about the need and importance of taking a health insurance policy.
Our hectic lifestyle and unhealthy eating habits make most people sick. As a result of being sick, we become dependent on medical care and unable to afford the rising costs of treatment. In case of a medical emergency, it is not easy for the common man to bear the financial burden. That is why we talk about the need and importance of taking a health insurance policy. By taking a health insurance policy, it can significantly reduce the bills you have to pay.
Family floater plans are also included under health insurance plans, allowing all family members to be covered under one plan. That is why whole family health insurance plans are also very popular because of the benefits they provide. Let's see what are the benefits of family insurance plan.
1. Coverage for the entire family
This plan brings the entire family under one umbrella. You can bring your spouse, your dependent children and parents under this plan. There are also plans that cover more family members. Hence, family medical insurance plans are very essential for you and your family members.
2. Premiums are affordable
The premium to be paid for a family medical insurance plan is very low as compared to the premium to be paid for individual plans for each family member. So the plans offer affordable coverage and don't leave your pocket empty.
3. High coverage per member
The sum insured under the family floater policy can be fully utilized by any of the sick members. Likewise, each family member has full access to the sum insured. Also you will get maximum coverage if you take the sum insured as a lump sum optimum amount.
4. Maternity coverage under several plans
A young couple planning to start a family with children in the near future can benefit from taking out family health plans with maternity coverage. These plans allow coverage for maternity related expenses.
5. Options in coverage benefits
Family health plans come with different coverage benefits. You can compare and choose a plan with the most comprehensive coverage features. By doing so, your family will get complete coverage. And all major medical expenses can be guaranteed to be covered by the plan.
6. Easy to add new members
Family floater plans also allow for the addition of new family members. When a baby is born in your family your baby will also get coverage from the middle of the policy term as per the terms and conditions of the policy. You just need to submit an application to the insurance company. Even if you have to pay additional premium amount, your child will be covered under the policy without any hassle.
7. You get tax benefits
The last and most important benefit of family floater health plans is that you can save tax benefits. By purchasing a family floater policy, you may get a tax deduction of up to Rs 25,000. This deduction increases to Rs 50,000 if you are a senior citizen. And if you buy a separate family floater health insurance for your parents, there is also an additional discount of Rs 25,000.