Why Health cover is so important in your individual’s life?
Keeping in mind the rising medical costs, environmental uncertainties, chemically imbalances food products and other health hazards etc. it is necessary for every individual to have a health insurance policy in place. A medical emergency can struck anytime and anywhere, leaving an individual mentally disturbed and financially crushed. While an emotional loss cannot be regained, the financial losses can be curbed by purchasing a suitable health insurance policy. Thus, it is definitely a savior during the health crisis time. Health insurance guarantees payments to a person in the event of sickness or injury and works as protection scheme. It is a protection scheme to take care of health of a person and works by buying a policy from a company or an insurance agent. To get the necessary health cover you have to pay some amount as premium towards this policy. Depending on the premium paid the health insurance policy will pay specified amounts, fitting into the slab of your policy, for the medical expenses incurred to overcome the health problem. There are around 28 general insurance companies in India which cater to different health needs such as individual policy, family floater, senior citizen policies or special women oriented policies. According to your
needs, income source, health situations, family members and future projections you can choose the best health policy that fits in your budget. While a single person would obviously choose individual health plan, a family floater is one of the best policies offered by insurance companies for sheltering entire family from health crisis under one plan. Let’s understand how? A family healthcare policy is not only cost effective than a single health insurance plan but also allows all the family members to enjoy a much larger health coverage. An efficient family health insurance policies usually provide coverage for a family of 4 individuals, parents are generally excluded. However, there are options open by many medical providers across the country who has introduced policies that can provide cover for your family including your parents. What best present can you gift in-laws then shelter them with health cover. One of the best way to impress your wife. Yes, with policy extensions you can not only cover your family but can also provide cover for your in-laws and other relationships under extended family plans. Such health plans are boon for those individuals who wish to provide medical coverage for their extended family. A family healthcare plan also gives you impressive tax benefits under section 80-D of the IT act. Although there are various insurance companies in India that offer family health care plans, it is important one should look for a policy that suits best his or her needs. You should choose an affordable policy with most comprehensive coverage as your family health insurance policy. While purchasing an insurance coverage just understanding the clauses mentioned in a plan are not enough, you also have to know its span of coverage. Always fill the application form by yourself instead of telling your insurance agent, this will help you understand the minute details, clauses, coverages, policy structure, fees and charges associated to it.