The real meaning
The coverage of the financial future that secured the whole family is the essence of family insurance plans. It may include dental care and health coverage, life and accident cover, accidental death and much more types of insurance. As per the law, minor children are dependent on their parents till they become self-dependent or attain the age of 26 years. The family insurance policy is much better than the individual health coverage as the former covers the spouse as well as the real minor children but the latter includes only the insured.
A portfolio file may depend upon the number of children, age and health factor, lifestyle and salary benefits etc. There are different types of coverage plans suggested by experts in the field of insurance. Opting for the same not only ensures your family’s financially secured future but also strengthen the prospects in case of any problems. The insurance covers are even beneficial to society as it safeguards society’s wealth and ensures social security benefits at the same time.
The benefits of family insurance plans are numerous and provide a better understanding of the same. Let’s get to the topic in detail for ensuring surety of facts and knowledge of the benefits.
Features of family health plan
The family health plan prioritizes financial and health well-being as a top priority and certainty. When your near ones are protected against medical emergencies you are at peace. Even some insurers provide you with the best provisions for extended family members. Even the lapse of the insured doesn’t terminate the policy/plan, i.e., the survivors continue to be protected as per the terms of the policy.
Benefits of the family insurance plan
- Only a single premium payment covers all the members: As per the clause of the family insurance plans, the members/dependents are covered under a single insurance plan with the payment of the same premium instead of separate small payments for all. The one premium payment supports your savings and thus help to manage your family budget.
- Avoiding confusions of managing separate policies: The track and management of premiums for different policies of different members of the family are hectic and tiresome. With the tool of the family health plan in hand, the problems are eliminated and every member is covered under the same plan. This keeps you relaxed and avoids any confusion as per the payment of premiums. This also reduces the cost of insurance by eliminating the need of taking various medical policies for various members. Thus, the process becomes hassle-free and fair.
- Maternity expenses: Under some family insurance plans, nowadays, maternity benefits are even allowed for the ones who are soon planning for a new member in the family. These are a good choice for the new couples and is beneficial in managing the extended expenses.
- Tax exemption: The insurance plans fall under the clause of exemption from the taxes and thus provide you with a relief and tax deduction in expenses. The deductions are increased in the matter of senior citizens. The tax savings may be a convenient response in favour of opting for the same.
- Comprehensive cover plans: Such cover plans include comprehensive coverage and provide peace of mind and a reliable relaxed source of family cover maintaining the best features of insurance inclusive. These prove to be efficient support in case of any future contingency or emergency.
- Easy addition of new members in the plan: Under the family insurance plans any newborn or a new member can easily be added to the existing policy without any compromise or hassle. The process is convenient and simple. There is no need to go for a new policy creating confusion here and there. With a reasonable increase/decrease in premium, the covered/insured members may be added/deducted from the existing family insurance plans.
- Add-ons: Various value options can easily be attached to the running plan/policy. The family insurance plans may include maternity covers, critical health care plans etc. The additional benefits and policies enhance the quality of the same.
- Offers, discounts and special covers: The decision can be made based on cost and members to be added. Offers in favor of insurers depend on the age factors and make the plans a viable alternative.
Note: Offer/plan terms and conditions should be read carefully before opting for the same. Be sure to analyse and compare the waiting period before finalizing.
Care Insurance offers the best family insurance plans with additional benefits to the insured, the members and the society on the whole. It’s worth relying on the care health insurance plans to cope up with the family health urgent requirements. The cashless claim settlement as far as the medical is concerned is one of the best features to meet the uncertain medical emergencies and support. Care Insurance has the highest standards of excellence in the settlement of the claim as per the requirements of the clients.