Why is a Family Health Insurance Policy Essential?

A joint family system has always been encouraged in India. The culture in India has always inspired families to preserve the bond of care and love. It also has many advantages in terms of the number of helping hands in almost everything. While some takes care of the household, some takes charge of work outside the house.

Need of Family Health Insurance:
Being in a joint family, the security and health of every member is important as keeping a tab on everyone’s life style and eating habits is difficult. Hence, it is challenging yet essential to ensure that every family member remains healthy. Exercising is one of the precautionary measures that can be taken to ensure the health of each member.

A regular exercising procedure keeps you away from a bunch of illness that may attack your body as age advances. Moreover, when the same procedure is followed by all members of the family then it becomes a group activity and increases the bonding between members. Exercising not only keeps your heart and nervous system healthy but also eliminates the possibilities of critical illnesses. However, keeping a watch on other habits of the members would still be a concern.

Benefits of a Family Health insurance plan:
With changing time there should also be a change in approach and arrangements. A family health insurance helps you secure your family’s health by being able to provide the necessary finances for their treatment. Be it a check-up or hospital expenses or a critical illness treatment expenditure, family health insurance policy takes care of it. With a family health insurance plan in hand, safeguard your savings from medical expenses during treatments.

Maintaining a health plan for each member can be costly and cumbersome. Every member is covered under a single policy and hence you have to pay a single premium against the policy plan. The benefits i.e. medical reimbursements can be enjoyed by any member of the insured family any number of times within the specified limit.

Types of Family health insurance plans in India:
The family health insurance plans are designed differently by different insurance companies to cover all members of the family. Irrespective of the age the plan ensures equal protection for every member of the insured family. There are wide options of family health plan in India to choose from. With a little extra premium you may opt to add more members of your family, if your family is a large one. Most of these policies also give a free health checkup for senior citizens adding to the benefits.

Premium calculation:
Depending upon the type of policy you choose, the premium charged against your family health policy varies. The number of members included in the family health insurance policy, the city of residence, the amount of coverage opted, are some of the crucial factors in calculating premiums on your policy. Most insurance companies have a health insurance premium calculator online aiding you in taking a smart decision.

The economic scenarios have changed and the cost of living is not the same as it used to be, a few decades ago. The trendy lifestyles and inflation has raised the cost of living to soaring heights. With daily living expenses on a rise, the health maintenance and treatment costs have gone up. Unhealthy lifestyles are prone to deteriorating health and hence it is advisable that all the family members are covered medically under a family health insurance plan. A family health insurance plan comes with a number of benefits and gives the best possible protection to your family.

[Source: http://hdfcergohealthinsurancepolicy.blogspot.in/2013/10/why-is-family-health-insurance-policy.html]