These days, medical inflation is rising, and healthcare costs are skyrocketing. But, you can still take a sigh of relief if you have health insurance family plans. It acts like a knight in shining armor that not only helps you to avail the most advanced healthcare for your loved ones. But also provide you financial cushion during a medical emergency. Read below why it is a must-have for all those people who have a loving family:

Rising Healthcare Inflation

In India, healthcare inflation is rising and the resultant skyrocketing treatment costs, creating a heavy financial burden on many. At times, you have to spend all your savings or borrow money from others during a medical emergency. Thankfully, a family floater plan covers treatment and hospitalization expenses that keep you and your family away from such financial implications due to inflation.

Increasing Incidences of Lifestyle Diseases

Due to a sedentary lifestyle, bad eating habits, lockdown, smoking, and alcohol, the incidences of lifestyle diseases, cardiovascular problems, chronic diseases, and critical illnesses are rising in India. Substantial hospital and treatment bills are more like financial trauma for anyone. Family health insurance plans from the best mediclaim company in India cover such expenses and reduce the financial burden.

Immediate Cashless Hospitalization

One of the seamless benefits of having health insurance family plans is cashless hospitalization. The best thing is you do not need to arrange cash during a medical emergency or for planned hospitalization. Your health insurer will pay your medical bills. You just need to pick any network hospital near your place for cashless hospitalization.

Family Extended

Health insurance family plans become extremely crucial when you have a new family member. So, if you have recently got married, have children, or have senior citizens, you can cover them under one health insurance policy for comprehensive coverage.

Coverage for COVID-19

You know how fearful it is when you heard the ill-effects of COVID-19. Health insurance with coronavirus coverage is a boon.  From diagnosis to home care expenses, insured members get the coverage based on policy terms and conditions.

Inadequate Corporate Policy

Corporate policies have restricted clauses with the limited sum insured. You will also not get the benefits of no claim bonus, automatic recharge, etc. Therefore, you cannot rely on corporate policy for your family’s healthcare needs. Opt for an individual or family floater from the best mediclaim company in India according to your family size for complete protection.

Tax Benefit

Under section 80D of the Income Tax Act of India 1961, you can also avail of tax benefits. The premium paid against the family health insurance policy for spouse, children, or dependent parents gets tax exemption. It reduces your tax liability and opens your avenues to save more for your family’s better future.

Read More: Health Insurance Options During Economic Uncertainties

Top Listed Health Insurance Companies offer Family Floater Plan

Health Insurance Company  Family Floater Plan  Sum Insured  
TATA AIG General InsuranceMediprime2-10 Lac  
Care Health Insurance  Care Family Health Insurance4 Lac- 1 Cr  
HDFC ErgoHealth Suraksha Plus Regain-Gold & Silver3-10 Lac  
The Oriental Insurance Company  Happy Family Floater Policy  1-20 Lac

At the End

We, Indians, entice with our families closely and still believe in a joint family culture. Comprehensive health insurance family plans help you to keep your loved ones safe under one umbrella. So, opt for it to stay healthy and insured together.

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