Reasons to buy mediclaim insurance for a family in India


26 Jul 2023

Read about Reasons to buy mediclaim insurance for a family in India. For more information, check out the health insurance policy from Kotak General Insurance.

Family is our most secure and loved place. People strive tirelessly to provide for the happiness of their family and secure the future of family members. When protecting the family, we always try to give the best possible. When protecting the family, we always try to provide the best possible. Thus, when it comes to healthcare protection of family, a mediclaim policy for family is the best choice. Let’s understand the reasons people should timely invest in a family mediclaim policy.

What is mediclaim insurance for a family?

Family mediclaim insurance policies are health policies that cover the entire family under a single plan. It covers every family member, including your spouse, dependent children and dependent parents. You only need to pay a single premium. Some plans even allow the inclusion of extended family members like parents-in-law. This suggests that regardless of the age of the family members, you do not need to pay different premiums for each individual.

Top 5 reasons to buy an excellent comprehensive health insurance plan for your family in India:

Rising healthcare costs, medical inflation and the constant rise in everyday lifestyle issues have made having an appropriate health insurance plan necessary. With family mediclaim insurance plans, insured members of the family can enjoy a variety of benefits. Here is a list of the most important advantages of buying medical insurance for families-

1) A single premium covers all family members.
A single mediclaim insurance policy covers all family members. Paying a single premium can protect yourself, your spouse, your dependent children, and your dependent parents. As a result, you won't have to remember when different insurance premiums are due, saving you time as well as effort in the long run.

2) Offer hassle-free hospitalization coverage.
Availing cashless claim option is one of the most significant advantages of opting for a health insurance plan for your family in India. This option is available if your insured family members get admission at a network hospital where the insurer directly settles the bills without you having to pay the entire amount upfront from your own pocket and doing a high amount of documentation.

You can also ensure that your family members are not compromising on their medical care as they can avail of coverage for the following:

• In-patient hospitalization
• Daycare procedures
• Ambulance service
• Pre and post-hospitalization
• Medical investigations and tests.

3) Extensive coverage is provided to every covered person.
Any member of the family who becomes ill is eligible to receive the total amount of money covered by the family mediclaim insurance. This ensures that your savings are always protected no matter the cost and that you and your loved ones have adequate medical coverage.

4) Affordable premiums.
The cost of a family insurance plan is much less than the cost of separate individual health plans for each family member. Thus, a mediclaim policy for family offers sufficient coverage in the event of a medical emergency while remaining cost-effective.

5) Tax benefits under section 80D.
Family mediclaim insurance offers tax benefits as another advantage. You are eligible for a tax deduction of up to INR 25,000 when you purchase medical insurance for the family, including you, your spouse, and any dependent children. If you buy a mediclaim policy that includes senior citizen parents, your tax deduction will be increased to INR 50,000 each year.

To wrap up
Mediclaim policy for family is one of the best plans to invest in if you wish to secure your family's future medically. You will always know that you have a safety net that will protect you from breaking the bank in any medical emergency.

Team Kotak GIC

The content of this blog has been created and carefully reviewed by the esteemed team at Kotak General Insurance, with the sole purpose of providing valuable guidance and sharing insights on the importance of general insurance. Our objective is to assist users in making informed decisions when purchasing or renewing insurance policies for their cars, bikes, and health. Our expertly curated information aims to empower our readers with the knowledge they need to protect their valuable assets and financial interests.