Imagine that you or a loved one has an unexpected need for immediate medical care. Doctor visits, tests, medicine prescriptions, and maybe surgeries or other treatments that are required for rehabilitation are all part of the process.The expenses can soon mount up and become too much to bear, particularly if you don't have a solid financial strategy.

This is where the lifeline of health insurance steps in. It's more than just financial protection; it provides security for the unforeseen tides that life throws away. It plays an important role and helps to move through by ensuring that the family smiles remain undimmed.

To understand more about the pivotal role of health insurance plans and its vitality for our family members let`s deep dive.

What are Family Mediclaim Policies?

Health insurance plans for family provide health protection for parents, spouses, children, and even parents-in-law for a single premium, covering the whole family. They are essential to contemporary financial planning since they offer complete coverage and protect families from unforeseen medical costs. 

Choosing a family mediclaim coverage is crucial in today's hectic environment to ensure peace of mind and prevent last-minute hassles during medical emergencies.

Reasons for Choosing Mediclaim Policies

There are several reasons for choosing a mediclaim policy. Some of them are listed below.

Stress-Free Hospitalisation

If you or one of your family members have to be hospitalised, health insurance will cover all medical expenses in this situation . Furthermore, you can receive premium in-patient hospital care knowing that all the bills are covered by your medical insurance plan. Health insurance gives you access to cashless hospitalisation in India, reducing the stress of managing a difficult time. 

Keeping your Debt-Free

In the absence of health insurance, you might be forced to look for loans to manage the expenses. For instance, you may have to reach out to relatives, friends, and acquaintances for money to pay the bills.mediclaim policy helps in revising these debts by providing you with a peace of mind.

Tax Benefits Offered

In India, families purchasing a health insurance plan will get tax benefits under Sections 80(C) [with a cap of 1.5lakh] and 80(D) of the Income Tax Act 1961. The policyholder (taxpayer) for medical insurance premiums paid can claim a tax deduction.

Freedom to Add a New Member

A family health insurance policy gives you the flexibility to add a new member to your plan. In case you welcome a newborn in your family, you can easily add the baby to your family insurance policy, depending on the terms and conditions of your plan. 

Free Health Check-ups

It offers you and your family members a free check-up every 2 to 4 years, depending on the terms and conditions of the policy. These health check-ups can provide a detailed understanding of your and your family’s health, thereby making you aware of a hidden or new medical condition, which can lead you to seek an early medical intervention.

Things to be Considered Before Buying an Insurance Plan

Analysing the sum insured options available along with the refill option present

Did you know that when purchasing the insurance policy, it might cover hospitalisation expenses up to the sum insured? But with increasing medical costs, the sum insured might get over before time. Therefore, you should always remember the ‘restore’ option.

Waiting Period and Coverage against pre-existing illness

If you are already facing any ailment like diabetes, high blood pressure, or thyroid. They are called pre-existing illnesses and usually, insurance companies cover them. But there is a waiting period. The terms and conditions for a waiting period usually differ and do check this before investing in one.

Expense coverage related to pre and post-hospitalisation

These are any medical expenses that are incurred before being admitted to a hospital and after the patient is discharged from the hospital. The plans can also include any follow-up treatments, medical consultation sessions, and diagnostic tests.

Room rent capping

While buying insurance, usually people forget to check on this service. This is the hospital room charge limit that is borne by the insurance provider you choose. The capping can cover either some percentage or the whole sum can be assured. Always check with the room rent capping under your health policy.

ICU room rent on offerings

Sometimes your healthcare provider also covers a limit on ICUs, always remember to check the same.

Annual health check-ups are available or not

Medical costs are on a rise and keeping a track of your health is a good solution. Annual health check-ups as a daily monitor to prevent diseases. Health insurance should provide this free service every year.

Ambulance charges available

Health emergencies might occur at any time. During these difficult times, public and private transportation is a hassle. Always calling an ambulance which is equipped with medical equipment is the need at that time. Majorly the providers cover a decent sum under this facility.

Critical illnesses coverage

Worried about how many illnesses like heart attack, cancer, and lung failure can be insured? This feature covers the insured against life-threatening critical diseases. The policy provides a total coverage amount that can act as a cover for exorbitant medical expenses.

Summing Up

In family life, health insurance provides essential security, helping ensure that you can enjoy each moment with peace of mind, free from financial worries. Emerging as an essential thread it binds security. By safeguarding health it ensures the preservation of our most cherished asset: the well-being and happiness of our family, both in the present and for the years ahead.

For the best insurance plans and to keep these smiles widespread you can visit the website of Niva Bapu,the leading health insurance company for a safe and secure future.