A health cover to shelter your family members

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Family Health Insurance Plans
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A health cover to shelter your family members
The best way to keep your family safe during
medical emergencies like hospitalization or
illnesses is to buy suitable health plan. Often
people make a mistake and go for individual
policy purchase which proves to be a costly
affair. Family floater insurance plans are one
of the best family cover plans offered by
insurance companies to cover you and your family
together on shared basis and with no individual
limit for each member covered under the floater
plan.
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Unlike, individual health plans which cover
people on a separate basis, this plan brings
critical health care cover under a single
umbrella. It works with the probable fact that
all the members wouldnt fall ill at once or will
have the same hospital expenses. So, the cover is
provided wherever the need arises. Thus, if any
one of the member falls ill, the coverage up to
sum insured, is available while the other healthy
members are also covered. Thus, your entire
family will have wider coverage to hospitalized
members being supported by the non-hospitalized
one. Ideally, a family health insurance plan
will incorporate spouse and his children. Since,
parents are age old and may be prone to
pre-existing diseases, it is better to keep them
on a separate plan depending on their needs and
requirements. You can put them on special plans
which offer extended coverage.
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While purchasing plan most people try to imitate
friends or blindly follow the agent words.
However, such is not the case, every family has
its own needs and preferences, they health
concerns. Therefore, you should choose your
family floater insurance plan carefully taking
into consideration income source, risk appetite,
family health issues, inflation costs and future
needs. Some factors to keep in mind are as
follows Sum Insured Consider your family
size, pre-existing disease and health requirement
before selecting the right sum insured value for
your family. Choose a sum insured, such that even
if more than one family member is hospitalized
there is some amount left for other members too.
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Top Up plans Most of the times it happens
hospitalization soak up the sum assured and other
family member are shorten up with the cover. Top
Up plans prove crucial at such point of time
topping up your health plan proves vital and easy
affair instead of buying new policy. They have
two variants a regular top-up and a super top-up.
The only difference between the two is the
threshold value or compulsory deductible. This
value states the amount above which the top-up
plan would be activated. In a regular top-up
plan the amount will be utilized in single
hospitalization process. While in super top-up
plan you can use the value in multiple
installments.
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Always share the right information with the
insurance provider. People tend to hide habits
like smoking, drinks, tobacco, heart attack, low
or high bp, etc. to avoid increasing premiums.
But this will indirectly affect the coverage
amount of your family floater insurance plan.
Your family member might receive less coverage
facilities if figured later. Therefore, being
honest is the best policy. Health
insurance companies are associated with
empanelled hospitals who offer cashless
treatment. Alternatively, you can take the
treatment and apply for reimbursement with bill
submissions later on to the insurance company.
Co-payment is one good way to curb your premium
expense. However, you will have to pay a portion
of your medical expense at the time of
hospitalization.
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/health-family-floater.jsp
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