What is Family Health Insurance.
For an individual the value of the family is more important then any other thing. Keeping such a thing in mind, it is prime important and basic responsibility of the individual to take care of the family and their well being. But no one can guarantee the future or a perfect health all life. Keeping such a thing in mind it is utmost important for the individual to be mentally prepared to face an eventuality when one of the loved ones falls sick or has to be hospitalised. No one likes to fall sick, or get hospitalised, but it’s a harsh reality which befalls on one and all. Keeping this thing in mind, the individual should be prepared to face the unforeseen circumstances.
Keeping in mind, the health of the family is also important along with that of the individual, the health insurance companies have come out with many custom made plans for individuals and the family members associated with them like spouse, children, dependent parents.
Importance of Family Health Insurance.
In India, thanks to liberalisation of the Health sector, more then 25 or so private and government insurance companies look after the well being of the individuals and their families through Family Floater Policies which safeguards the health of the policy holder and the immediate family in case of planned or emergency hospitalisation.
As the name suggests, family health insurance plan is custom made for families. Now many companies offer the option of covering siblings or in-laws depending upon the policy opted for. If the individuals opt for family floater plan, it becomes mandatory for the insurance providers to take care of the family members associated with the policy holder.
Nowadays many corporates offer health cover to their employees along with the spouse and children and the parents. This adds like an additional benefit to the employee because then the individual doesn’t have to buy a separate policy for family members and the same gets covered by the employer.
It is the best insurance plan offered by the provider for it takes care of the entire family along with the individual. The individual doesn’t have to buy different policies for each and every member of the family and saves lot of money on premium and maintaining such policies. Now more and more individuals are opting for family floater plans for it minimises the stress associated with the expense incurred for hospitalisation.
It is utmost important for an individual to select the best family floater plan and look for what diseases are covered in the plan like critical illness, pregnancy, cataract operations and some other pre diagnosed diseases.
It is the job of the individual to check with the insurance provider the maximum age coverage for the family floater plan, because some insurance providers provide cover till 65 years of age only where as now some insurance company provide life renewal policies. So it depends on the individual to select the best option provided.