After a long day at work, you want to come back to your home, particularly your family. The affinity that we share for our family is unmatched. You tend to make decisions to ensure that your family is at the utmost comfort, often at your sacrifice. To ensure they remain safe and secure takes the front seat. So why compromise when it comes to the health of your family?
Medical insurance or health insurance is the master key to ensure your family always has a medical cover. It is necessary with the increasing cost of healthcare facilities. The development of medical technology comes at a steep price of healthcare. Suddenly, your medical emergency turns into a financial crisis. You surely do not want that to happen when you have a medical emergency in your home, right? So get yourself insured with an adequate family health insurance cover.
Let us understand what benefits a family health cover offers that makes it essential for every family –
The premiums under family health insurance are affordable when compared to the aggregate of individual medical insurances. The insurer can spread the same risk among different family members.
Coverage for all family members
A family health cover ensures all your family members, as specified by the policyholder, are covered under one plan. It generally extends to your spouse, dependent children, dependent parents, and in-laws. When you combine a family health policy with health insurance for senior citizens, the elderly members receive comprehensive coverage in terms of all the commonly occurring ailments, be it age-specific or general.
Maternity and Newborn coverage
A few family health insurance plans have maternity coverage too. If you are someone who is starting their family, maternity coverage will ensure you have worry-free medical care at the time of childbirth. Some plans even allow the insured to add their newborn child as early as 90 days. While this may differ, you can opt for an insurer of your choice for an exhaustive maternity and newborn cover.
Higher sum assured
Under a family health cover, the amount of coverage required is considerably larger than an individual plan. In such a case, the entire sum assured is available to the members included in the policy. It provides a more extensive financial net covering multiple members.
Lastly, one can avail of tax benefits for the premiums paid. The deduction is available under Section 80D of the Income Tax Act, 1961. The deduction for a person under 60 years is ₹ 25,000, whereas, for senior citizens (above 60 years), the same is extended to ₹50,000.
Thus, the above reasons make it essential to have family health insurance that ensures coverage for your loved ones. Easy availability at affordable premiums makes it simple to provide a health cover to all your dear ones. Shop wise and select the most suitable plan for your family!