Family health insurance plans

Health insurance plan for family is an insurance plan that covers more than one member of a family with a fixed sum assured in return for an annual premium. This policy can cover more than 2 members simultaneously.

A family health insurance policy offers financial protection for medical expenses arising from emergencies on either an individual or floater sum insured basis, covering the entire family. As the financial security of your family is important to afford medical care today. Policywise offers a various family health insurance plans with massive benefits.

How to decide which family health insurance plan is good, need to understand the following:

1. Coverage provided for a family plan: It is important to understand what the plan cover; Most importantly, it includes outpatient charges, hospital charges, ambulance charges, etc. to check. It is necessary to check whether there is a provision for a new born baby. If so, the baby should be included in the list of family members.
2. Maximum Renewal Age: : Most of health insurance companies offer policy renewal till 60-65 years. Nowadays, some family health insurance plans also offer lifelong renewal facilities. Make sure to choose the right health insurance plan for family that would protect you when you need it the most.
3. Maximum Renewal Age: Most of the health insurance companies offer policy renewal till 60-65 years. Nowadays, some health insurance companies also offer lifelong renewal facility. Make sure to choose the family floater health plan that would protect you when you need it most.
4. Hassle-Free Claim Settlement: Most family health insurance companies follow the claims process as directed by the insurance regulator. Find and choose a policy that expedites settlement of claims, also understand the entire filing process whether it provides cashless reimbursement after discharge.
5. Tax Benefits:Insurance premium paid in any mode other than cash is eligible to get tax under Section 80D of the Income Tax Act.
6. No Claim Bonus:Check out health insurance policy for family which provide no claim, bonus if in case a person doesn’t use it for a year.