Health Insurance in today’s day and age is of utmost importance considering steep medical costs and the unknown health risks we face. As much as we try to make ourselves believe that nothing can happen to us or our family, one can never be sure. Buying an appropriate health insurance in India
, hence becomes crucial to safeguard yourselves from the financial loss that you may face in case of a medical exigency. Not just that, it also helps you and your family members access quality medical treatment as you don’t have to think twice before visiting a hospital with a fear that you may have to shell out money from your pocket.
If you’re looking at insuring your family under one policy, then a family floater health insurance plan is a perfect choice for you. Under this policy, the sum insured floats across the family members i.e. one sum insured is applicable for all members. Also, there is no hassle of maintaining multiple policy documents, just one policy document suffices for the entire family. Below are few things that you need to consider before buying a family floater health insurance policy.
Check the definition of ‘family’:
It’s important to know who all from your family can be covered under the policy. For instance, under Bajaj Allianz Health Guard policy, Self, Spouse, dependent children can be covered under the floater option. A separate floater policy can be taken for parents. This is usually the case with most of the insurance policies available in the market.
Understand the coverage:
A family health insurance
plan provides you with a comprehensive coverage. You get cover for pre and post hospitalization medical expenses, medical bills, ambulance charges and a lot more. Under the Gold & Platinum plans of Bajaj Allianz Health Guard policy, Bariatric Surgery, Ayurvedic & Homeopathic Expenses are also covered.
Opt for appropriate Sum Insured:
Since the Sum Insured floats across all family members, it is imperative to opt for a higher sum insured considering the fact that if one family member unfortunately falls sick, the rest of the total sum insured is sufficient to take care of medical expenses if someone else in the family falls ill during the same policy period. Considering the increasing medical costs, Bajaj Allianz Health Guard policy under its Platinum Plan provides an option to choose Sum Insured as high as Rs. 1 crore. Know more about 1 crore health insurance
Know how the premium is calculated:
Under a Family Floater Health Insurance plan, the premium of the policy is determined considering the age of eldest family members, sum insured opted, health conditions of all the family members and in case you have opted for any add-on covers under the policy.
Health Insurance is an important financial tool and hence, it’s advisable to do appropriate research on various plans available even under a family health insurance plan and opt for one that suits your requirements the best. Additionally, opt for an insurer considering their claims history and their cashless hospital network. At Bajaj Allianz General Insurance, we have an in-house Health Administration Team that comprises of doctors and paramedics who are responsible for health underwriting and claims settlement. Additionally, we are associated with over 6,500 hospitals for cashless claims. This enables us to not only issue policies quickly, but also provide timely assistance at the time of claim. Before you buy a health insurance policy, read its terms and conditions, understand the coverage and exclusion and check the background of the insurer to make an informed decision.