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for Family

Insurance is need, not luxury. You need insurance...

This type of plan provides coverage for the entire family wherein the coverage amount can be shared by alltheinsured family members. For example, if there's a family of four insured and each is covered for Rs.10,00,000. In the event that any member gets sick and incurs medical costs amounting to around Rs.9,00,000 , they are covered. Not like other type of insurance plans wherein for example the coverage amounts to Rs. 5,00,000 for the children and Rs.10,00,000 for the parents. If one of the children gets sick and their costs go up to Rs.6,00,000 the parents would have to pay Rs.1,00,000 out of their pocket. But not for family floater plans.

 

Following Options Are Available:

 


  1. FLOATER BENEFIT means the Sum Insured as specified for the proposer under the policy, is available for any or all the members of his /her family for one or more claims during the tenure of the policy.
  2. The Family Floater Mediclaim Policycan be issued to the persons up to 60 years of age covering the following family members:
    • Self
    • Spouse
    • Dependent children ? Maximum two (in some cases upto 3)

 If you have a family then you are lucky one both in terms of life and money, as floater plans for covering entire family is always cheaper as compared to when taken individually for each one of them.

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When purchasing any mediclaim or health insurance plan always look for following things:

1) Cashless hospital network in your locality (more the hospital the better it is).

2) Quality of hospitals covered under cashless network.

3) Exclusions and waiting period of your health insurance plan.

4) Are there any cappings in your policy.

5) Who will support you in case you need to file any claim in emergency.

6) Do visit your local hospitals listed in your policy to ensure cashless facility is given.

7) Always take your policy from your local advisor, as they are more sensitive towards you and will be helpfull in case of emergencies as compared to any of the customer care desk executive.


SAVE TAX extra upto 1,00,000 using HEALTH PLAN

Section 80D provides for tax deduction from the total taxable income for the payment (by any mode other than cash) of medical insurance premium paid by an Individual or a HUF. This tax deduction is available over and above the deduction of Rs. 1,50,000 under Sec. 80C.


Even if your parents are adequately covered by your employer, the cover provided would cease to exist post-retirement or you being fired or due to change in expenditure policy by employer. Considering the current rate of medical inflation in India, adequate health insurance has become a must-have for each and every individual, and if the individual happens to be your parent, the need to buy a senior citizen health insurance plan becomes all the more important.

REMEBER: your employer is not bound to cover your parents health expenses.

for Family