FAMILY PLAN

Experts say health is wealth. If you are protected from health insurance then your wealth is protected. We advise the best health insurance plan in the market at an affordable price..

A Family plan is also known as a Family Health Plan which is a type of health insurance that includes more than one individual in a family and in some cases the tally goes to more than two members. The assured amount is fixed and the premium is limited to a single premium. The amount is paid to a family member when the individual gets hospitalized and the medical expenses are borne by the insurance company in form of family health insurance. The family members included in this plan are the spouse, up to 4 children, parents, and in some exceptional case, in-laws are also included which is called extended family members.

There are basically two types of Family Health plans:

Medical Insurance: The cost which incurs in the hospitalization of the patient is reimbursed by the insurance company.

Chronic diseases: The insurance covers critical illnesses like cancer, cardiac arrest, and kidney failure in case of chronic disease.

Which is a better plan: Family Health Plan or an Individual Health Plan?

It is quite difficult to say which plan is better until and unless both are compared on the same parameters. A family health plan includes a combination of each member of a family whether it is the spouse, children, or parents including the policyholder. All the members are covered in a single plan under a fixed sum assured and a single premium whereas in an individual health plan only the policy holder is covered. The cost of acquiring a family health plan is economical as it is a single premium plan in comparison to an individual plan. It is because in a single plan the premium differs for each individual plan on various parameters. So it is advisable to have a family health plan if a policyholder has the requirement to get insurance for the family.

F.A.Q

WHAT ARE THE ADVANTAGES OF A FAMILY HEALTH PLAN?

• Provision of inclusion of other family members: The policy covers the policyholder and his or her family members under a single plan. • Hassle-free: The policy provide hassle-free services to its policyholder as it helps in maintaining records and documents of each family member under one single plan. • Advantages of availing discounts and incentives: The policy provides concessions and incentives under the family floater scheme. • Easy to annex members: The policy provides the provision of adding members easily. • Add-on features: The policy provides extra features like maternity and coverage of newborn offspring. • Tax Benefit: Exemption of tax under section 80D under this plan.
WHAT DO YOU MEAN BY A FAMILY FLOATER PLAN?

A Family Floater Plan envelope all the family members under a single policy. The assured amount is fixed and is used up if any individual of the family claims medical help. The benefit of this plan is that a policyholder can add other members under a single plan without going for a separate plan for each individual.
WHAT IS THE GENERAL EXCLUSION OF A FAMILY HEALTH PLAN?

• If a person in the family reaches old age and made a medical claim then the policy expires. • Pre-existence of any disease before going into this policy. The policy covers only minor children and does not hold for children above age 18.