Advantages of Family Health Insurance

For any person, ensuring the health and financial security of their family is of utmost priority. This security comes with a family health insurance plan that provides coverage to an individual, his/her spouse, and two children. There are different family health insurance plans in the market that cover different relationships and family members up to a specific number, where all the family members can claim the sum insured amount. Another highlight of the policy is that it does not terminate in case of misfortune event of death of any family member. The surviving family members continue availing health insurance benefits. To know more about why family health insurance plans are a good choice, read below:

Advantages of Family Health Insurance

Family health insurance plans come with several advantages, some of which are explained below: 

1. Single Premium: The family members are covered under a family health insurance policy, which means that only a single premium is required to be paid instead of paying separate health insurance premiums for individual members of the family. Paying a single premium helps you save more.  
    
2. Hassle-Free: Keeping a track of premiums and claims made for different health insurance plans can be difficult. But if you have a family health insurance policy, then keeping a track can be very easy. Also, it eliminates the possibility of compromising on medical expenses for any of the family members.  
    
3. Flexibility to Include Family Members: Under the individual health insurance cover, you do not always get an option to include family members. But in a family health insurance plan, you get flexibility to add new family members to the existing policy.  
    
4. Tax Benefits: On the premium paid for family health insurance plans, you can avail tax benefits for up to Rs. 25,000, under Section 80D of the Income Tax Act, 1961. If you are a senior citizen aged above 60 years, then you can claim a maximum deduction of Rs. 50,000.
    
5. Discounts Offered: On adding more family members to your family health insurance plan, some insurance companies offer discounts on the premium. 
    

Takeaway

A family health insurance policy, as compared to an individual health insurance policy, offers several advantages to the insured. It ensures that no family member misses health insurance coverage. It also proves to be much budget-friendly when it comes to paying a premium. Also, on getting all your family members covered under the same health insurance policy, you need not compromise on the quality of healthcare for any family member. So, if you don’t already have one, this is the right time to buy a family health insurance policy. 
To buy a family health insurance policy, you can contact the customer care executives at InsuranceDekho and share your requirements. The executives will understand your requirements and suggest the most suitable policy for yourself and your family members. 

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Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.