Peoples’ lifestyles are one of the main reasons for an increase in health issues. This can surface as more serious medical problems in later years of life. Having a reliable health insurance plan for your family can help you to avoid the turmoil and financial burden of any unexpected illnesses or diseases that you and your loved ones might face.
There are many kinds of health insurance plans, such as a family mediclaim policy. When it comes to buying a family mediclaim policy, there are innumerable reasons and advantages. If you need help with finding the best plan for you, here is an overview on what a family mediclaim policy is and how it works.
What Is a Family Mediclaim Policy?
A family mediclaim policy is a kind of a health insurance plan which covers all the members of your family included in the policy. This covers hospitalization expenses of any sudden illnesses or procedures and also has many additional benefits. Buying a family mediclaim policy is a great way to secure a future for your family medically and financially.
Reasons To Buy a Family Mediclaim Policy
There are many reasons to opt for a family mediclaim policy to protect you and your loved ones from any mishaps in the future. Some of these are mentioned below:
Flexible Plans
When you opt for a family mediclaim policy, you will have the flexibility and freedom to customize the plan to suit the healthcare requirements of your family perfectly. There are even specific benefits, such as maternity coverage which will cover maternity expenses.
Extensive Coverage for Life
In a family mediclaim policy, there is no upper age limit. Additional members can be added to the same insurance plan at any point of time. Everyone who is a policy holder will have the same benefits as the rest of their family members.
Affordable And Simple Premium Payments
The premium payments in a family mediclaim policy are extremely affordable and the payment process for the premiums is rather simple. The price for premiums is low as when buying a family plan, as it is always much cheaper than several individual plans, and it can be paid monthly or quarterly.
Long-Term Financial and Medical Protection
Having a family mediclaim policy can ensure financial and medical security for you and your family in the long run and help you live a hassle-free life.
Cashless Treatment
You can enjoy the cashless feature in a family mediclaim policy if you get your treatment at a network hospital which is partnered with the insurance company. In this case, the insurer and the hospital handle the expenses once you provide your insurance details.
No Claim Bonus
When you opt for a family mediclaim policy, you can benefit from an increased coverage sum for the coming years every time you go a year without making any claims.
Tax Benefits
In accordance with the Indian tax laws, each time you make a premium payment, you will benefit from tax deductions when you opt for a family floater policy. Under Section 80D of the Income Tax Act, 1961, policyholders can receive annual tax deductions on health insurance premiums.
Covid-19 Coverage
During these unprecedented times with COVID-19, it is important to keep your family safe from the virus as everyone is prone to catching it. This has become one of the essential reasons for getting a family mediclaim policy.
Evidently, there are numerous reasons to opt for a family mediclaim policy to ensure your family members are covered medically and financially. These days, it is a necessity as no one can predict what the future will bring. Trusted insurers like Care Insurance offer a large variety of flexible family mediclaim policies that will suit your family’s needs.
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