Well-defined and comprehensive health insurance offers coverage to the policyholders for medical expenses in a medical emergency. A health insurance plan provides coverage for different medical expenses like surgical expenses, day-care expenses, and critical illness expenses. With plenty of health insurance plans for family available, it is important to buy the most suitable plan to cater to your family’s requirements effectively.
What is a Health Insurance Policy?
A health insurance policy is defined as a contract between the insurer and a policyholder. An insurance company provides financial assistance for medical expenses incurred by the insured. It also offers other benefits like reimbursement of medical costs or cashless treatment mentioned in the health policy.
Health Insurance Plans for Family
Health insurance plans for families are the ones that offer insurance coverage to the entire family against a single premium. It is a defined plan under which the sum insured is shared amongst the family members, and it can be availed either by one or all the family members. With family health insurance, all the family members can get their health covered under a single health insurance premium.
We bring you a list of Do’s and Don’ts of buying a health insurance cover for the family.
Do’s
Enlist Your Requirements Before Buying a Health Insurance Cover
Health insurance plans for family can be customized as per the requirements of the family members. They can also be personalized with add-ons for additional coverage options like critical illness cover. Make sure you have analyzed your needs before you zero in on a family floater plan.
Compare Different Health Insurance Policies
Different health insurance plans for a family are available in the market these days with the same coverage but different costs. Comparing such plans can be helpful at the time of purchase. The comparison can be easily made online from the comfort of your home. Once you have compared different plans, you will find it easier to choose an adequate health insurance cover for your family without any hassle.
Fill in the Application Form with Complete Details
An application form is the first formal step towards buying health insurance plans for family in India. It is important to fill the complete application form without missing out on any details. It will help your insurer understand your requirements and offer the most suitable insurance plan based on your distinct needs.
Look for Hospitals in Insurer’s Network
Hospitalization network is one of the important components of any health insurance policy. Therefore, check if your health insurance company has a large network of hospitals through which you can avail of cashless treatment. It is advisable to look at the list of network hospitals before purchasing health insurance in India.
Calculate the Premium
Look for the factors that can impact your health insurance premium and consider them carefully to calculate the premium.
- Age
- Location of Residence
- Health Status
- Type of Health Insurance Plan
You can also calculate it with the help of an online health insurance calculator.
Don’ts
Don’t Forget to Research about the Insurance Company
Buying health insurance plans for family is an important thing in life. Hence, you must purchase a plan from a reputable insurance company. Ideally, a renowned insurance company will help you buy the plan, resolve your queries, and provide a good after-sales service.
Don’t Share False Information
It is vital to be truthful when disclosing information to your insurer. By disclosing false information, you could land in trouble. At the same time, it can leave you under or over-insured. Being underinsured means you cannot claim for the coverage you require, and over-insured implies that you are paying more for coverage you don’t need.
Don’t Forget to Get Your Doubts Clarified
It is possible that you can have a few queries regarding the health insurance plans for family. Do not hesitate to contact your insurer via calls or emails to get your doubts resolved.
Don’t Skip the Inclusions and Exclusions
It is essential to understand what is covered and what is not covered by your insurance company beforehand. Carefully go through the policy’s terms and conditions as it will give you a better understanding of whether you can file a claim for a specific situation or not.
Don’t Fear Rejection
It is possible that your insurer can reject your health insurance application or a claim you filed. In both situations, try to understand the possible cause of rejection. Once rejected, you can reapply after working on the concerned areas.
Ensure Your Family’s Happiness with Health Insurance Plan
With the above-mentioned do’s and don’ts, you can buy your ideal health insurance plan in no time. Seek assistance from a reputable insurer like Tata AIG who offer various health insurance plans for family and also have a dedicated claim settlement team. They will be there to guide you and ensure a hassle-free, quick claim settlement.
