Why Should You Take a Family Health Insurance Online?
In India, health insurance is often underutilized, misunderstood, and bought with little thought and precision. However, now that things have gone digital, health insurance is also made available online.
This now makes it easier for you to evaluate your options at your own pace, read about the different benefits and customize your plan accordingly online. Moreover, online health insurance ensures zero paperwork and less time wasted!
Compare Family Health Insurance Plans
We know this could confuse you if you’ve never bought health insurance online. But that’s why we’ve always kept our insurance simple, and here we’ll give you a basic guide on how to compare health insurance plans wisely and eventually make the right choice for you and your family.
- Sum Insured: The Sum Insured is the maximum value your health insurance company will give you in case of a claim. So make sure you don’t just buy the cheaper plan just because the premium is lower—chances are, your sum insured will be less, too!
- Real Benefits: Please read the policy terms and conditions before buying a plan. Many benefits look fancy, but when you get to their conditions, you may realize that claiming them is tough because of the ifs and buts associated with them.
- Claim Settlement Record: Talk to your insurance company about how they are settling their claims. If the company is new, ask about the processes they follow for claim settlement.
- Processes: As mentioned above, look at your insurance company's claim processes. New-age companies ensure that the processes eliminate paperwork as much as possible - and we all know that a seamless claim process only makes our lives so much easier!
- Premium: Of course, this is something you will definitely do. Yes, it is important to look at the premium and try to go not only for the most cost-effective one but one that offers you valuable benefits at a justified price.
How is the Premium Calculated for Family Health Insurance Policy?
So, how exactly do we calculate your family health insurance premium?
Age: of you and your family members: As we age, the probability of certain diseases or conditions may increase, which is why we need to factor in the ages of both you and your family members.
Lifestyle: Certain habits or lifestyles may invite a higher risk of diseases or conditions, which affect your premium. But you need to declare everything about you or your family members honestly, as when a claim is made, the investigation will automatically show the cause of the illness or condition. If it is due to a habit that was not declared, like smoking or heavy drinking, then it may result in a claim denial.
Pre-existing Diseases or Conditions: If any condition, ailment or injury (applicable to you or any members of your family) for which there were signs or symptoms or which was diagnosed within 48 months before the first policy issued by the insurer or renewed continuously after that, you need to declare the same to the insurance company at the time of buying or renewing the policy.
This also might affect your premium. However, as for lifestyle, even these conditions or diseases should be declared beforehand so that one can serve the waiting period (the time until a claim cannot be made for that condition or disease).
Location: Different cities have different pollution levels, accident risks, medical costs, etc., so the premium may vary by the city you and your family live in.
What is a Cashless Claim?
As the name suggests, a cashless claim is when you won’t be required to pay anything from your pocket. However, this is only possible if you’re being treated at one of our network hospitals.
What is Reimbursement Claim?
One of the most common claims used is the reimbursement claim. This is mainly because, whether you go to one of our network hospitals or not, this kind of claim can be used at any hospital in India. All you have to do is submit the required documents in due time and receive the reimbursement amount from us.
How to Choose the Right Sum Insured for Family Health Insurance?
- Age: Choose a higher sum insured if you aren’t married yet or just about to marry. The younger you are, the lower your premiums will be, and most of your waiting periods will be over.
- Life Stage: When your life stage changes, you may need a higher sum insured. For example, if you’re about to plan for a second child or if your parents are old and you’re their sole caretaker.
- Number of Dependents: Insuring all family members under a Health Insurance policy is a wiser way to protect your family against future financial risks related to high medical costs.
- Health Conditions: If a hereditary disease in the family or a common health condition is rising in the city where you or your family are staying, you should consider a higher sum insured.
- Lifestyle: If you live in a polluted metro city, toiling with traffic and bearing office stress daily, you may be at a higher risk of falling ill. Which in turn means you need to cover yourself for the better.
Know more about the Sum Insured in Health Insurance.
What is the Critical Illness Cover in a Family Medical Insurance?
An add-on anybody can opt for; this benefit specifically covers you and your family members for any critical illnesses and all expenses arising out of them. These critical illnesses include all types of Cancer treatments and medications, Kidney Failure, Heart Attacks, and Paralysis, amongst others.
Know more about Critical Illness Insurance.
What is the Maternity Benefit and When Should You Get it?
If you or your spouse is below 40 and planning to have your first or second child soon, opt for the Maternity cover. This cover usually has a waiting period (so it’s better to opt for it in advance) and covers all expenses during labor hospitalization.
It also covers any complications in the pregnancy and necessary medical termination of the pregnancy. The ideal time to opt for it is when you’re getting married or at least one to two years before you plan on having your baby.
What is the Best Age to Buy a Family Health Insurance?
Honestly, the earlier, the better! That way, you’ll have a lower premium and cross the waiting period for select benefits. We live in a time when health issues are rising, and healthcare expenses aren’t getting any lower! Family Health Insurance won’t only protect you but all your family members under one single armour.
Tips for a Healthy and Happy Life
Good health is everything. After all, it affects everything else in our lives. Here are some brief tips to ensure a healthy and happy life.
- Eat a balanced diet. Our diets are responsible for 70% of our health. Therefore, always ensure you have enough fruits and vegetables and the right amount of protein, vitamins, healthy fats, carbohydrates, etc.
- Drink lots of water. Your body needs it more than you think it does. A minimum of 8 glasses of water is a must.
- Reduce salt and sugar intake in your diet or replace sugar with alternatives like jaggery and honey.
- Exercise frequently. Even if you’re not going to the gym, you can incorporate small things into your daily life to ensure movement and flexibility. Take the stairs when you can, walk to nearby places, practice stretches, etc.
- Keep a regular check on your health. Many times, we can never tell what’s happening inside our bodies. Therefore, make it a point to get an annual health checkup yearly.
- Sleep well. We live in a world where we’re constantly stressed or occupied with something or the other. It's important just to switch off sometimes and get some rest. A healthy adult should get at least 7-8 hours of sleep daily. This will not only maintain your stress levels but will also ensure happier days.
