Best cost-effective health insurance policy for you and your family

When it comes to your family’s safety, you leave no stone unturned and do not want to settle for anything but the best.

Investing in a family health insurance plan is one of such things, and it is the need of the hour also.

You can find numerous insurance products in the market when it comes to health insurance,

but a family health insurance plan stands out as the best health insurance plan in India among them all.

One of the primary reasons to prefer them is comprehensive coverage with cost-effectiveness.

Here are factors that increase the cost-effectiveness of best health insurance plans – family floater health insurance policies:

1. Saving on Premium

You are allowed to protect all your family members under a single health insurance policy for a single premium.

You can also secure yourself, your spouse, dependent grandparents, parents and children, siblings, and parents-in-law for a fixed sum insured.

The sum insured can be divided among all family members to provide health insurance coverage in a health emergency.

This means you need not buy separate individual policies and pay multiple premiums to secure your family members.

The number of members guarded under a family health insurance plan may differ as per the insurance provider.

You can avail of sectional and long-term discounts with a few leading insurance providers.

2. Comprehensive coverage

A family healthcare insurance can offer comprehensive coverage for various healthcare expenses.

It offers comprehensive coverage, including cashless treatment, in-patient hospitalization expenses, ambulance expenses, pre and post-hospitalization expenses, ambulance daycare expenses, and others.

3. Tax benefits

An individual liable to pay income tax can save on taxes with deductions on the premiums paid towards family health insurance plans.

The maximum limit for tax exemptions is Rs. 75,000 under section 80D, Income Tax Act. This limit depends on the family members covered under the policy.

4. Quality medical attention

You want to provide the best quality treatment to your loved ones, but the inability to beat the increasing medical costs may leave you helpless.

Access to healthcare insurance helps enhance and ensure the quality of treatment in hospitals and health care centers.

With an adequate sum insured family health insurance policy, you can assure the best medical attention without a dent in your pocket.

5. Critical Illness Cover

Critical Illness cover also makes a family floater cost-effective.

It covers specific life-threatening conditions and diseases requiring huge funds to treat.

The insurance company pays a lump sum amount if you are diagnosed with a critical illness.

6. Cash benefit

Family health insurance offers daily cash benefits also.

The insurance provider can cover Rs 500/day for up to 10 days in a year as accommodation expenses.

It is an admissible claim for one parent/guardian who stays with a minor insured covered under the policy.

7. Secure new members of your family

With family health insurance plans coverage, you can secure new members in the family quickly.

It is an effortless task if you are blessed with a newborn or add another dependent member to the family floater.

Instead of paying another premium for new members, you can add them to the same policy and keep saving on your finances.

8. Personal accident cover and public liability cover

With leading insurance providers, a policyholder can get comprehensive family floaters with personal accident cover against demise, permanent/ temporary total/partial disability.

It also offers public liability cover protecting you against third-party losses/damages in an accidental situation.

A comprehensive family floater can also cover losses and damages against burglary, depending on the plan and the insurance company you choose.

Thus, find an insurance company offering the most cost-effective family health insurance plan.

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