In a country like India where the majority of the basic services like health and wellness are money-base, one needs to have a proper mechanism to bridge the rising medical costs. Getting a proper health insurance plan for family and oneself is the stepping stone to the rest. If you are confuse about “what is health insurance?” It is a vital part of financial and healthcare planning for yourself and your family.
So, investing in a proficient and beneficial insurance policy gains utmost prominence. What most policyholders think is about the cost of health insurance. There is a myriad of plans offering different coverage at different premiums.This article will help you understand the cost and pricing factor of health insurance for family of 4 in a much better manner.
You might be sceptical about the returns you get on opting for add-ons. Given below are some of the add-on benefits that you may receive if you choose to invest in it. Keep reading to know more!
Health insurance plans for family and its vitality:
Health insurance plans are an important necessity in the current times when the cost of medication and healthcare is skyrocketing to a whole new level. Having health insurance plans for family is an effective way to keep the health requirements of all the members of the family fulfill in an affordable and cost-effective way.
Although individual health insurance plans are great for personal use, opting for family health insurance is more beneficial. Considering the entire family into account, nothing is better than family health insurance. Now, the question arises regarding ‘What is health insurance?’
Health insurance is a cover that can be purchase to safeguard oneself from the expenses arising from medical check-ups or getting admit to a hospital. There are two ways according to which you can make use of the amount you have paid while buying your health insurance. You can either go for the cashless services if that particular hospital accepts or provides that. If this is not the case, you can go for the reimbursement of your health insurance. Using this, you can pay your hospital bill and then get the money from your insurance, covering all your medical expenses. All of these are applicable to the health insurance plans for family.
The cost of family health insurance for 4:
What is health insurance cost for a family of 4? is the most search question on the web in recent times. Although, the answer to this question depends on the insurance provider and the plan you choose for you and your family. The plans chosen by you have different inclusions and have different values, leading to a difference in costs of different plans.
But taking into account the most purchase plans and their popularity, an average value of the plan can be calculate. You must look into the matter of what the health insurance cost for your plan. However, in general, it ranges between Rs. 1700 to Rs. 2200 per month. The family floater plan will cost you somewhere between 4 lakhs to 10 lakhs. It may or may not cover the entire bill of the hospital. Although most of the health insurance plans for the family cover most of the medical expenses for you, it is better to go through the inclusions beforehand to avoid any kind of confusion in the hour of need.
You also have the choice and liberty to get certain things added to your existing health insurance plan for your family. They are known as add-ons and can vary in cost, depending on their usage and popularity. You can select one or more of them for yourself and pay for them additionally. Although the entire sum or the total amount of your insurance increases, the benefits of your health insurance plans for family also increase. Now you can add multiple add-ons to your scheme and have better protection against the medical expenses that can be real financial trouble.
Deciding one particular amount for all the policies and plans would not be appropriate. Thus, answering the question “what is health insurance amount for a family of 4,” can also depend on your health insurance provider and its plans. You can take an example of the Bajaj Allianz Health Guard Family Floater plan that has a monthly payment starting from Rs. 2,105. If you have more members in your family, the cost of the health insurance plans for the family would be slightly higher for you, depending on that particular number. Therefore, once you decide what is the health insurance amount for you, buy it. But it is a necessity and should not be compromised at any cost.
You can also browse through various plans available in the Indian market before deciding the one. Make sure you choose the right insurance provider that has a higher claim settlement ratio of more than 90% to avoid claim settlement hassles.