A family health insurance or a mediclaim policy is designed to protect you and your family. A mediclaim for family provides coverage to all the family members under one policy. There are various benefits of choosing the best family health insurance policy. It can be availed for getting coverage against diseases, preventing spending from your savings, and relief from other worries. You can avail coverage for your spouse and children. Some health insurance providers also allow you to add your dependent parents and siblings too.
Types of Mediclaim Policy
Depending upon the claim settlement process, it can be of two types:
In this type of claim settlement, the person insured has to spend for all the expenses from his pocket. All the bills are to be saved and then submitted to the insurance provider’s office with all the required documents. The documents are then verified, and after some days, the amount is reimbursed in the policyholder’s bank account.
In this type, all the medical expenses during pre and post-hospitalization are settled on a cashless basis by the insurance provider. The policyholder does not have to spend a single penny from his pocket.
Benefits of a Family Mediclaim Policy
Multiple people, Single premium:
As it covers multiple people under a single premium policy rather than an individual policy for each member of the family, the premium becomes considerably low. It also removes the stress of keeping track of different policies at different times.
Adding a new member:
One of the biggest benefits of the family mediclaim policy is that any new member of the family can be added to the same policy with ease. On the other hand, in an individual plan you have to buy a different health policy all alone.
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All the members of the family can receive cashless treatments in one of the network hospitals, just like the individual health insurance plan.
You can avail of add-on benefits depending upon the needs and requirements of your family members, with a little extra cost. The best family health insurance plans come with add-on covers like OPD cover, daily cash allowance, and unlimited automatic recharge.
It provides tax benefits under Section 80D of Income Tax. The policyholder can get a tax deduction on the annual premium for himself, his spouse, children, and parents.
Care Health Insurance, with over 15500 healthcare networks, 24×7 cashless claims services, etc. provides one of the best Mediclaim policies for a family in India.
Exclusions in a Family Mediclaim Policy:
- Visit to doctor for routine medical checkups
- Treatment of obesity or cosmetic surgery is not covered
- Any injuries occurring due to adventure sports
- Treatments for any pre-existing illnesses are not covered up to the specified waiting period
- Any maternity-related complications such as abortion, miscarriage, etc. are not covered
While buying a Mediclaim policy for a family, an individual must keep the above points in mind. He/she must note down the various benefits for which the members of the family might require coverage. He should also compare different policies provided by various insurance companies and then choose the best family health insurance which is most beneficial for him and his family, depending upon his financial condition.