Importance of Medical insurance for your family

Posted by Nidhi Mahajan
July 20, 2017

Self-Published

We aspire to live a better life every day. And wish to provide a better, healthy, and comfortable life to our family.
Taking care of the loved ones and family members are incomplete until you provide a financially secured life, especially, during any medical emergencies or hospitalization. As any financial burden on your or family would cause them distress and worry.

Nobody is completely shielded against any illness, ailment, disease or an accident.
No matter how much one doesn’t like to face such suffering, some or the other things are bound to happen which may hamper not only your health but also your pocket.
Handle such uncertainties of life with medical insurance covering your family members. It provides financial aid in such crucial times. This way you ensure you stay financially secure to handle any unexpected contingency.

To cover yourself and family members under a health insurance plan, you have two options:
● Individual Health Plan
This health plan covers a single person only. Thus, to provide health insurance to each of your family members, you need to buy individual plans.
● Family Floater Plan
Family floater plan offers a comprehensive package to cover family members (usually, self, spouse, 2 kids, and parents) under a single policy. However, the basic sum assured of the health plan is shared among all the inclusive family members.

Why you need a medical insurance for the whole family?
Medical emergencies come unapologetically and can hit anyone, anytime, irrespective of age or gender.
An adage that people in the old age bracket are more prone to falling sick stands no strong. Besides, unfortunate incidents such as accident can happen to anyone anywhere.

Moreover, changing lifestyles has caused lower immunity, consequently making everyone prone to illnesses. If you haven’t yet insured all your loved ones under a medical insurance, it’s high time to do it now. As any such illness or an unfortunate accident may lead to hospitalization and financial burden.

Cover your parents
Who stood there when you were down with high fever, an ailment or disease, and too small to know the world around you?
Of course, who else, your parents.
They have always been there for you. Now you need to stand beside them and provide a worry-free life. If you are concerned about their health and want them to stay protected, you must provide a health cover.
It will be worth all the money to see a smile on their face. And their proud eyes reflecting the acknowledgment that you care.

Cover your spoiled brat(s) – Kid(s)
You have to agree, you can’t see them falling ill or suffering, irrespective whether they are infants or teenagers as of now, cover them under the umbrella of a health plan.
Before buying a health plan, ensure you cover kids – the apple of your eyes.
Cover your better half – spouse
Got married recently or it’s been years – you must get a health cover for your spouse. It’s an important thing to provide the right type of coverage as it would keep things financially stable – if your spouse is hospitalized. Because you know everything goes haywire if your spouse is hospitalized.

Irrespective of how you earn, you need a medical insurance for the whole family.
● If you are a salaried person
Most of the time, employer covers their employees with a health insurance plan. Health plans by your employer usually cover the whole family. However, the plan may not be sufficient with the rising medical inflation. Moreover, such employer-sponsored plans are only valid as long as you are working in the organization.
Thus, it is advisable to stay protected and cover your whole family under a personal health plan.
● If you are a self-employed or a business owner
If you are self-employed or an entrepreneur, then it goes without saying that you should have a comprehensive health plan that covers the whole family. Your family needs to stay protected. Cover your family with a medical insurance.

Conclusion:
Here’s quick guide: If you are looking for a budget plan to cover the whole family, look for a suitable family floater plan with basic coverage that fits your pocket. To increase the coverage opt for a top-up or a super top-up plan to support the base policy. Such add-on plans come with large coverage at a minimal price.
Avoid a financial crisis in any medical emergencies. Costly medical bills can dig a hole in your pocket, leading you and your family in a financially unstable condition. Medical insurance offers financial support system in case of hospitalization and emergencies, thus, to have a medical insurance covering the whole family is crucial.

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