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Finance > Insurance > Health InsuranceDoes your Family Health Insurance Policy have following three features?
Posted by sanjay in Finance on February 25th Darwin Thompson Authentic Jersey , 2017


Good health is surely something that we all crave for. We wish to stay fit and healthy. However, these days most of us are mostly surrounded by some or the other ailment. Family floater policies, in such scenario, can make health care a bit affordable for your family.


Family floater policies have many advantages over other health plans. Such as lower premiums and better coverage and additions to the scheme of new family members. But some features can assure most value for money from your family health insurance policy.


Three such features that you may look for are as follows:


Lifetime Renewability


This is perhaps the best feature available Khalen Saunders Authentic Jersey , as it will be quite difficult for you to get a health policy after the age of 65 years. But if you are continuing an existing policy which has lifetime renewability you will not be worrying about the hospitalization expenses in your golden years.


You also need to take care of the policy renewals to enjoy this feature to the fullest. Remember that the policy can be renewed even after a claim has been made on it in a year. But if the renewal premium is not paid, or policy is broken after few years, you will be purchasing a new policy altogether.


That’ll mean accumulated benefits and existing disease covered under the previous policy will no longer be available. Also, the premiums may be more for the similar sum assured. Therefore Juan Thornhill Authentic Jersey , it is important that you continue paying the annual premiums for your lifetime renewable family health plan.


Day Care and OPD Expenses


Generally, all health policies require a minimum of 24 hrs hospitalization to start reimbursing the expenses. However, technology has ensured that many treatments which used to require hospitalization take only a few hours to complete. Therefore, you need to check whether your family floater insurance in india plan covers such treatments or not.


There can be more than 140 OPD and day care treatments covered by the plans including dialysis Mecole Hardman Authentic Jersey , chemotherapy, eye surgery and lithotripsy, etc. So better look for a scheme with more number of OPD expenses.


Apart from OPD some insurance companies also provide reimbursement for consultation fees and outpatient procedures as well. This is another useful feature which can be handy to prevent major illnesses.

Enhancement of Sum Insured

Health schemes are generally obtained to safeguard ourselves against unexpected significant health expenses in the distant future. With rising health care costs, it is important that your health plan is able to prepare you to face such challenges in future.


Some family floater plans allow you to increase your family’s health cover in future Tyrann Mathieu Authentic Jersey , while most allow for a no claim bonus accumulation. But no claim bonus can be lost in the year when the claim is made, and also it may not be sufficient to cover the increased health-care expenses.


On the other hand, a policy which allows for a top-up will increase the base sum assured, even when a claim is made in the past or the future.


Top-up health covers are also available which work as additional sum assured over your basic sum assured. For example Patrick Mahomes Authentic Jersey , if you have a health policy with sum assured of Rs. 5 lakhs and you buy a top-up plan with a sum assured of Rs. 10 lakhs, the top-up plan will only come into force when your medical expenditure rises beyond Rs. 5 lakhs.