subject: Safe Keep Your Family's Interest With Medical Insurance For All. [print this page] In the earlier days, if you wanted to insure your familys health then you would have to buy individual Medical insurance policies for each and every member of your family. However, with the medical insurance sector becoming more and more sophisticated, you do not have to face such problems anymore. In todays times, you can avail the benefits of an insurance policy that will take your whole family under its protection. This policy is known as the Family Health Insurance policy which acts as an umbrella for the whole familys health.
For example, if you have four members in your family then you can have two scenarios. One would be where you individually insure each member for a policy. In the second scenario you insure the entire familys health for a sum that is equal to the amount of an individual insurance policy. This is possible by availing a Family Health Insurance policy.
Now in case one, if a particular member of the family falls sick or gets injured and the costs of appropriate medical treatment is more than the insured individual amount, then the family has to pay for the extra amount. However, in the same situation with scenario two, the family would not have to pay anything from their pockets to get the injured or sick member treated. This is because the entire family would be covered for an amount that would be equal to sum of all individual policies put together.
Apart from this clear advantage over individual medical insurance policies, if you insure your familys health with a family health Insurance policy then you can avail other benefits as well. The following are some benefits that an ideal Family Health Insurance policy would equip you with.
1.Any medical expenses that you may incur during treatment owing to hospitalisation extending after a certain time frame could be handled by the Medical insurance provider if you insure the health of your family with this policy.
2.In addition to this, your family could also be entitled to protection against the medical expenses for a period before and after hospitalisation.
3.After having the policy active for a while, you could also be entitled to inclusion of pre existing ailments.
4.In an ideal situation your medical insurance company should have a large network of hospitals under it. In this way you can get access to a wide range of good hospitals.
5.With these policies you should be able to avail tax benefits as per Section 80D of the Income Tax Act of 1961.
As is more than apparent, by purchasing such medical insurance policies you can ensure that your family gets as many benefits as is possible.
by: Lalit Kumar
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