An adage states that ‘Health is wealth’, the best part is that the saying is still applicable in today’s time. Whether you are the sole earning member of the family or any other member, it is important to have yourself and your loved ones covered under a good health insurance plan.
Health insurance is the essential financial instrument that helps mitigate the risks that arise from the perils of human life. You always have the option to invest in an individual health insurance plan or family health insurance plan. The essential thing is that you should be aware of the different types of plans available in the market.
There are ULIP (Unit Linked Insurance Plans), Endowment Plans, and Term Insurance Plans offered by popular insurance companies across India. In this blog, we look at the importance of investing in a good Family Health Insurance Plan.
Family Health Insurance Plan like Family Plus from Royal Sundaram General Finance provides comprehensive benefits at an affordable premium. Such plans even cover your extended family since it provides coverage to a large family (including 19 relations).
Family health insurance plans offer a range of benefits apart from regular benefits like coverage for in-patient hospitalization, pre & post hospitalization expenses, ambulance charges, doctor consultation charges, and more. Plans from major insurance providers have maternity benefits, No Claim Bonus, reload bonus, and no restrictions on the entry age. The major advantage of family health insurance is that you are safeguarding the health of your loved ones as well. The health insurance policy also covers hospitalization expenses incurred due to COVID-19.
However, it is highly recommended to have a look at the insurer’s terms & conditions before arriving at the purchase decision since none of the health insurance policy cover costs incurred on self-quarantine.
If you have senior citizens in your family, the family health insurance plan ensures that you do not exhaust your savings on their hospitalization since health insurance policy can come to the rescue. Be it individual health insurance or family health insurance, most providers offer benefits like free yearly health checkups, dental checkups, etc. However, there is an upper cap on those measures.
Now that you know about the benefits of health insurance, let us look at the Arogya Sanjeevani Health Insurance policy from Royal Sundaram General Insurance. Arogya Sanjeevani Health Insurance is a policy that is mandated by the IRDAI for bringing uniformity in features and structure of the health insurance product.
The policy can be availed by individuals and can also cover family members like spouse, parents & in-laws, and children (aged 3 to 25 years). The good part about Arogya Sanjeevani Health Insurance is it can be purchased on an individual or family floater basis. In a family floater policy, a maximum of 6 adults can be covered, with no limit on the number of children covered under the policy.
Apart from the choice regarding the wide range of sum insured, the Arogya Sanjeevani Health Insurance policy also provides a cumulative bonus which is increased by five percent with each claim-free year.
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