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Health Insurance for Family : Needs and Benefits Explained

Each day, the medical fraternity is discovering one or the other viruses that pose a risk to the health of human beings. When a person comes in contact with such deadly viruses, the cost of cure can also shoot up quite high given the increasing cost of medical facilities.

So, one should consider buying a family health insurance to ensure that no one in their family is devoid of medical attention. In today’s time of escalated health facilities, an insurance policy backs you up financially.

How Does the Family Insurance work?

The family floater cover is the most widely bought cover of insurance policy. In this kind of policy, the cover can be extended to family members like mother, father, daughter son etc. One can also include close relatives who live together. Individual covers that cater to just one person’s medical expenses are also quite popular.

In order to ensure that you buy an appropriate family health insurance policy, keep the following things in mind:

1. The Claim Process

One buys the family health cover to ensure that they have financial assistance in case of any medical emergency. However, if the claim process is tedious and involves too many steps, such a policy is not worth buying. So, when buying the policy, it is essential that you look at the claim process.

2. The Exclusion

Every health insurance policy has some exclusion. Some of the common exclusions include maternity expenses, circumcision, plastic surgery and rehabilitation expenses. Most policies also exclude the dental expenses. So, in case you have to undergo any important operation, make sure whether it is a part of the exclusions or not.

3. The policy Extensions

There are some defined inclusions and exclusions of a family health insurance policy. But since the need of people vary; most insurers have a list of extensions that can be availed by paying some extra amount. So, if you feel that the policy inclusions do not cover your necessities, be sure to take a look at the list of extra covers.

4. The Applicable Discounts

Discounts in the form of no claim bonus percentage are given by numerous insurers. So, before buying or renewing the policy, make sure that you are checking all the discounts applicable.

5. Renewability

A family health insurance should not have an age limit for renewability.

6. Lookup Period

Lookup period is the buffer time that is given by the insurer to the insured to return the policy if he feels that the policy does not suffice to his needs.

7. Hospitals in the Network

At last but not the least, do ensure that the insurer offers the cover in a wide number of hospitals within the country. The importance of this point can be understood from this example. Suppose you live in Delhi and you are travelling to Mumbai for vacation. Now, one of your family members falls ill due to some digestive disorder and need to be admitted to the hospital. If the insurer does not have a wide network of hospital, then it will be really difficult to search for the hospital in a new city.

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