Comprehensive health insurance coverage is essential for safeguarding your family’s well-being. Family health insurance plans are essential for every home since they provide financial stability in the event of a medical emergency. This article explains the foundations of family health insurance policies, their benefits, and how to choose the best one for your needs.
Family Health Insurance Plans Overview
| Sum Insured | Up to Rs. 30 lakhs |
| Room Rent Charges Covered | Up to actuals |
| ICU Charges Coverage | Up to actuals |
| Ambulance Charges Coverage | Up to Rs.2,500 |
| Daily Allowance Coverage | Up to Rs.1,000 per day |
| Co-pay | Nil |
| Critical Illness | Covered |
| No medical test | Up to 60 years |
| Reinstatement Benefit | Available |
| Day Care Cover | 380+ procedures covered |
| Online Renewal | Available |
| Lifelong Renewal | Yes |
| Tax Benefit under 80D | Upto 1 Lakh |
| Cashless Treatment | Available at 7000+ hospitals |
| COVID-19 Treatment | Covered |
| Claim Assistance | With 24/7 customer service |
| Pre Hospitalization Expenses | Upto 60 Days |
| Post Hospitalization Expenses | Upto 90 Days |
| Nursing Expenses | Covered |
| Wellness Benefits | Covered |
What is a Care – Health Insurance Plan for a Family?
With only one premium, Care is a family health insurance plan that protects you and your loved ones from monetary risks associated with a medical emergency. You or any insured members will receive unified protection while ill if you have ‘Care’ by your side. We handle every aspect of your treatment expenses so you may concentrate solely on improving.
The policy’s sum insured acts as a pool of money. Any member of the insured family may utilize the entire or a portion of the insured amount to cover hospital stays and other medical costs. As your family grows, you are also free to add more members whenever you choose.
Features and Benefits of Family Health Insurance Policy
- Add-ons for additional covers: In India, family health insurance has a unique combination of benefits and extras. Instead of buying several plans, you can simply buy add-ons like maternity insurance, critical illness cover, etc., based on your family’s needs.
- Affordability: You may cover your family’s medical requirements with a single plan by getting a family health insurance policy. The days of having to pay premiums for several plans for different family members are long gone. To guarantee medical safety for you and your family, all you have to do is pay a single premium.
- Tax savings: If you choose family health insurance policies, you can receive additional tax savings under Section 80D of the Income Tax Act. You can claim up to Rs. 75,000 for your family’s health insurance premiums, and up to Rs. 1 lakh if both you and your parents are 60 years of age or older.
- Easy and hassle-free: Purchasing a family plan makes it easier to pay premiums and other related expenses. After a while, having several policies might become complicated because the dates for premium payments may fluctuate, the hospital network may change, etc. The process is made simpler in this situation by family health insurance. The same reasoning holds for health insurance plan renewals.
Documents Required to Raise a Claim
- Valid ID Proof of policyholder
- Claim Form duly filled in and signed
- All Hospital Bills / Discharge Summary
- Pharmacy Bills & Investigation & Reports
- Any additional documentation the insured wishes to provide to bolster the claim.
How to select the right Family Health Insurance Plan?
- Family Needs: Examine your family’s insurance needs carefully, taking into account their age and health, and choose a plan that offers the best coverage for each member.
- Network Hospitals: With the help of our family health insurance plans, you can visit more than 7,000 network hospitals nationwide for easy, cashless care.
- Exclusions: To avoid any issues when you are seeking hospitalization or making a claim, find out what is and is not covered by your family health insurance plan.
- Customer Service: Always check the ratings of the insurance provider to determine whether or not they provide efficient and timely customer service.
- Affordable Premiums: Your plan’s rates should be reasonable without sacrificing coverage. Instead, search for a family health insurance plan that provides affordable, high-quality coverage.
- Right Coverage: Pre- and post-hospitalization coverage, daily allowances, health check-ups, and other essentials are all included in a decent family health insurance plan to provide you with the most protection and coverage possible.
- Claim Settlement Ratio: Our claim settlement ratio is high. This guarantees that your claim will probably be accepted as long as you make a valid claim for a medical condition that is covered by your health insurance.
- Sum Insured: To ensure that each family member has enough coverage in the event of a medical emergency, pick a plan with a higher sum insured. When choosing a plan, consider factors like your city, family members’ medical histories, and the growing price of medical care.
Eligibility Criteria
- Nationality: Only Indian citizens living in India are covered by our policy.
- Age: You must be between the ages of 18 and 60 to purchase health insurance.
- Occupation: You may be subject to certain eligibility requirements if your work involves a high degree of risk.
- Medical History: Your plan’s coverage would be affected by any pre-existing medical problems, including chronic illnesses or disorders, and the waiting period might differ.
- Lifestyle Habits: Your eligibility and premium rate will be impacted if you have any unhealthy behaviors, including smoking or drinking, that could harm your health.
How to Buy Family Health Insurance?
- Traditional Method: You can visit your local IFFCO-Tokio branch to buy your family health insurance policy. Our representatives will help you get the appropriate family health insurance coverage based on your insurance needs.
- Online Method: Visit any broker website to buy a family health insurance plan and enjoy speed. After entering your name, age, number of members, and any necessary add-ons, click submit. Before making the payment, review the coverage under your insurance. Your policy documents will be emailed to you immediately after your payment is successful.
Conclusion
Family Health Insurance Plans guarantee your loved ones receive complete medical care, making them the cornerstone of financial stability. They provide advantages like tax savings, cashless care at hospitals in a large network, and reasonably priced premiums. You can select the ideal plan for peace of mind by weighing the particular requirements of your family, available coverage, and supplier dependability.