HEALTH DESK
As the world becomes increasingly globalized, people are moving more than ever. This has led to an increase in the number of people who are uninsured or have inadequate insurance coverage. One of the most common types of health insurance is family health insurance, which can help cover costs for families when a family member is ill or injured.
Features of Family Health Insurance
- Eligibility
To be eligible for family health coverage, you must meet certain requirements.
First, you must have legal residence in India. Second, you must be a citizen or national of India. Third, your family must have a registered address in India. Finally, at least one member of your family must be a resident of India and have a continuous residence here for at least six months before enrolling in the policy.
- Coverage
Family health insurance coverage is available in India through various private and public providers. The coverage offered through private health insurers typically includes hospitalization, maternity care, and pediatric care.
- Add on covers
One of the features and benefits that family health insurance in India offers is the ability to add on covers. This means that if you have an accident or become ill, your family members can also be covered. This can be especially beneficial if one or more of your family members is not covered by their own health insurance.
- Making a claim
India is one of the countries with the highest number of people without any form of health insurance. This leaves a large population of people who are at risk of not being able to afford healthcare when they need it, which can have serious consequences for their health and well-being.
- Exclusions
One of the reasons people in India may choose to have family health insurance is because of the exclusions that are present. For example, family health insurance in India does not cover maternity care or emergency room visits. This can be a big problem for people who need these services, as they may have to pay out-of-pocket for them.
Benefits of Family Medical Insurance
- Save money
Family health insurance is a great way to save money on your health care. In India, family health insurance is mandatory for all employers with more than ten employees. This means that you can save money on your health care by getting family health insurance.
- Get tax benefits
Experts say that if you have family health insurance in India, you can get tax benefits. “The main benefit of having family health insurance is that the taxman will not demand any additional income tax from you as a premium payer,” says Nikhil Tandon, Associate Director- Taxation, PwC India.
- Add new member
Family health insurance is one of the most important benefits of having a family. It can help to cover the medical costs of family members in the event of an illness or injury and can also provide financial support during difficult times.
- Restore exhausted coverage
Family health insurance in India is a great way to maintain coverage for your loved ones. It can provide you with the peace of mind that comes with knowing that you and your family are taken care of in case of an emergency.
- Affordable premiums
One of the best things about family health insurance in India is that premiums are affordable. You can find policies that offer excellent coverage at a fraction of the cost of traditional health insurance plans. And because these policies are tailored specifically for families, you can be sure that everyone in your family can use the covered services.
- Maternity coverage is allowed
Maternity coverage is allowed in India under certain conditions. For instance, if you are married, your husband must also be covered for maternity coverage. Coverage is also available to pregnant women and their children until the child turns 18 years old. Some health insurance policies also cover prenatal care and childbirth expenses.
Conclusion
As the global economy continues to change and progress, so too does the way families across the world live and work. With more people working outside of the home and relying on two incomes to support a family, finding affordable health insurance has become increasingly difficult. That’s where family health insurance comes in — it provides coverage for everyone in your family, no matter where they are located or what their occupation may be. If you’re looking for a way to protect yourself and your loved ones from unexpected medical costs, family health insurance is an important option to consider.
Author Bio: Smriti Gala works as a Digital Marketing Manager with Coverfox. As her life turned upside down when COVID severely afflicted her family members, Smriti decided to dedicate her expertise towards informing and educating the masses about the importance of health insurance. When she is not actively writing enlightening content, our ‘monk marketer’ likes to meditate, meet new people and explore less travelled territories.