Health insurance is considered as a crucial investment due to the increasing medical costs and the rising life expectancy rate. This means you have to be ready for any such unfortunate condition not only mentally but also financially. In scenarios like this, health insurance plans become a lifesaver. It helps you pay the medical expenses when you are in dire need of it.
Health insurance plans cover your medical expenses.There are some health insurance policies that offer surgical expenses along with medical expenses. This cover is based on the premium you pay and how many people it covers. It also depends on whether it is a family plan or an individual plan.
Getting your family covered under a health insurance plan would be the right thing to do. The health insurance plans for family also mean that you can claim the benefit for any member of your family, in case of hospitalization or surgical expenses.
In family plans, more than one family member can avail the benefit of the plan simultaneously.
Here are some of the tips to keep in mind before deciding the best family health insurance plans in India.
- Network Hospitals
You must check the list of network hospitals before investing in a family health insurance plan. Many health insurance plansfor family offer cashless treatments at networkhospitals.When you choose a policy for your family, you need to make sure that your insurer has an extensive network of hospitals. Not only thatbut also ensure that the hospitals are easily accessible and present in your locality.
- Inclusions and Exclusions
Check the terms and conditions, benefits, and what is and what is not covered in the policy. Ideally, the best health insurance plans for a family are the ones that will include all types of ailments that are most relevant to you. Some policies place a limit on the coverage of specificillnesses. You should select a plan that has a long list of inclusions and minimum exclusions.
The family health insurance plans should be chosen based on sub-limits. Most of the policies come with a sub-limit on daily expenses, room rent in case of hospitalization and so on. Go for the plans that offer the highest slab on room rent or other health care expenses.
- Waiting period
The waiting period is another important clause you must check in your family health insurance policy. The waiting period is generally mentionedconcerning the pre-existing ailments. Pre-existing ailments are the ones that the policyholder is suffering at the time of buying the health insurance policy. The waiting period varies from insurer to insurer.
- Add-on Rider
Rider policies help in extending the benefits of your family health insurance by paying an extra premium on the current one. This extra-premium will cover you against the life-threatening ailments as well. Such rider policy is known as critical illness insurance. Similarly, there are hospital daily cash riders, women-specific critical illness plans that will help you maximize your insurance benefits.
You must check for all such details before deciding the best family health insurance plans in India.