Top Health Insurance Plans for Families and how to choose it

Introduction

Do you want to be financially strong to protect your family during medical emergencies and like to provide them with health care? Then Family health insurance plans are the one that protects your family from unforeseen medical expenses. These medical insurance plans cover your family members, including spouses, parents, children under a single plan.

With a family floater health insurance policy, you can claim up to a total sum insured provided by the terms and condition of the policy document.Under this floater plan, a sum insured will be shared by all the family members.

Importance of Health Insurance for Families

Insured family members can avail of various benefits under family floater health insurance plans. Irrespective of their age, the whole family gets protection under a single policy. Let’s look at the importance of family health insurance plans.

Stress free-Cashless Hospitalisation

During a medical emergency, the insured family member can avail cashless treatment in a network hospital of the insurer, just like an individual health plan. With a family floater plan, you can get all your family members covered to get quality medical care without compromise.

Coverage for parents and in-laws in a single plan

Many health insurance companies allow people to include parents and parents-in-law under the same family floater plans. With this floater plan, you can insure the health of your parents and your spouse’s parents.

Reasonable Premiums

With family health insurance plans, you don’t have to pay individual premiums for all the family members. Under a single policy, you can cover your spouse, dependent children and parents at very affordable premiums.

However, most financial advisors suggest buying individual healthcare plans for parents as they are prone to age-related health issues.

Easy to insure a new family member

One can easily add a new family member to family health insurance plans by paying an extra premium. There is no need to take a new policy every time if there is an addition to your family. If you add your parents, make sure you increase the sum insured.

Can avail additional Benefits

One can enjoy various add-on benefits under family health plans, including maternity etc. One has to make sure that he reads the policy terms carefully to understand the inclusions and exclusions of the insurance plans.

Tax Benefits

When you buy health insurance, you can claim tax benefits under Section 80 D of the Income Tax Act 1961; one can save money on income tax.

You can enjoy an extensive tax exemption if you buy a family health insurance plan.

Top Health Insurance Plans for Families

Star Health Insurance provides various family Health insurance plans(floater) at an affordable premium; the below table demonstrates some beneficial family health insurance plans for you and your family:

Policy Name	Policy Type	Age limit	Family Size	Sum Insured	Day Care Procedures
Family Health Optima Insurance Plan	Floater	Adult(18 yrs- 65 yrs)Children (16 days-25 years)	6A+3C	3 Lakhs up to25 Lakhs	All Day Care Procedures covered
Star Comprehensive Insurance Policy	Individual & Floater	Adult(18 yrs- 65 yrs)Children (91 days-25 year)	2A+3C	5 Lakhs up to1 Crore	All Day Care Procedures covered
Young Star Insurance Policy	Individual & Floater	Adult(18 yrs- 40 yrs)Children (91 days-25 year)(Floater only)	Floater(Self+Spouse+Newborn)	3 Lakhs up to1 Crore	All Day Care Procedures covered
Senior Citizens Red Carpet Health Insurance Policy	Individual & Floater	60- 75 yrs	2A	Floater (10 Lakhs to 25 Lakhs)	All Day Care Procedures covered

How to Choose the Right Health Insurance Plan for Your Family

As you know, various health insurance plans are available in the market, and it isn’t easy to choose a suitable health insurance plan for you and your family. Here are some points to follow before buying a family health insurance plan.

Check for the Policy Coverage

Before buying a health insurance plan, you have to look for policy coverage. Always choose a plan that covers pre and post-hospitalisation coverage, maternity benefits, cashless treatment, daily hospital cash benefits and covers an extensive range of medical problems.

Check your requirements and choose a plan that serves your needs and your family.

Know the waiting period

Most Health Insurance policy covers pre-existing disease, maternity etc., after a waiting period of 12 months, 24 months 48 months. The waiting period often varies from insurer to insurer.

Many insurance companies offer lower waiting periods, so make sure you check the waiting period for the pre-existing disease. Choose a plan which has a lower waiting period.

You should know the clauses of the policy to add or remove a person.

Look for lifetime renewability

While purchasing a plan, always look for the policy tenure and the renewability option. It is advised to select a plan with lifetime renewability; as we grow old, the risk of falling sick increases. So. choosing a plan with life time renewability is preferred.

Co-payment clause

Co-payment is an option available in health insurance policies that refers to the percentage of the amount the insured agrees to pay from his pocket. The remaining hospitalisation charges will be taken care of by the insurance company. The co-payment share varies from insurer to insurer.

Conclusion

Family health insurance is a basic necessity; it helps you cover yourself and your family from unforeseen future medical expenses. To purchase the best family health insurance plan, consider the above-listed points and make a wise decision.

To know more details about Health Insurance policies and to buy policies at an affordable premium with good discounts, visit the official website of Star Health Insurance.

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