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How To Get A Custom Health Insurance For Your Family

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Custom health insurance is a new way to get the right insurance policy for you and your family. You work for your family so that they can have a secure future. Therefore, you need a plan that will mould according to your family needs. Personalised suggestions can make the process of choosing insurance simpler.

Types of benefits

Floater Benefit:

Floater cover gets your family (self, partner, dependent parents and children, siblings) covered for the same sum insured under a single policy by paying a premium amount. Any individual above three months of age can be covered under the procedure provided one adult is also covered under the same plan.  

 

Tax Benefit:

One can avail tax deduction on premium paid under the health insurance plan according to applicable provisions of Section 80D of Income Tax Act, 1961 and amendments made to that.

 

Hospital Cash Allowance:

If the insured person gets hospitalised for treatment of any disease/injury/illness, then the daily cash amount will be payable per day up to the specified limits as mentioned in the schedule.

Eligibility criteria for Family Health Insurance Plans:

  • Entry age for the policyholder or proposer: In a family health insurance plan, the eldest person becomes the primary holder of the policy. Such a person must be aged between 18 to 65 years. Some insurers allow the maximum age to be 70 years and above

 

  • Entry age for other family members: The minimum entry age for adults is 18 years, and the maximum is 65 or 70 years (depending on the insurer). The minimum age for dependent children to enter a family health insurance plan in India is 90 days (or 30 days, depending on the insurer) and the maximum is 25 years.
  • Medical tests: Some insurers may ask the insured to undergo a medical test at nominated centres. Usually, members aged 45 and above are required to take medical examinations.

Health insurance plans in India must always be availed based on the individual needs of the policy buyer. Therefore, it is suggested to get a custom health insurance to make the best use. Family health insurance plan and individual health insurance plans work differently and sometimes choosing between the two are quite tricky.

Steps for buying a family health insurance plan

  • Visit the web portal of any online insurance provider
  • Compare and analyse the different types of health insurance plans available in the market
  • Compare the network hospitals provided by the insurer
  • Compare the benefits provided by various health insurance plans
  • Carefully evaluate the inclusions and exclusions of the health insurance policy
  • Select the plan that is the most suitable for your family

The family health insurance plan provides insurance for more than one member of the family. Under the family health insurance, the sum insured can be availed by one or all the family members. While an individual health plan covers only one person and can be bought separately for each member of the family, a family floater covers the entire family. The family health insurance plans provide better cover at low cost vis-a-vis multiple individual health insurance plans. However, in case a family member suffers from a critical illness or has a chronic health condition, then buying a personal health insurance cover can take care of long-term medical expenses.

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Disclaimer :The information published on this website is for the public's reference only. Content of this information is to provide an overview of your Insurance needs and should not be relied upon for personal, medical, legal or financial decisions and you should consult an appropriate professional for specific advice for Travel/Health/Motor. Bharti AXA General Insurance Company Limited makes no representations about the suitability, reliability, timeliness, and accuracy of the information, travel, services, or any other items mentioned on this subject for any purpose whatsoever.

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