Health is an essential asset of our lives. Everyone is seeking better health care for their family members. However, with the constant rise in medical treatment costs, health care has become an expensive affair. Having health insurance will act as a cushion against expenses that incur during medical emergencies or treatments.
It is a type of health insurance plan which allows members of the family to be insured under a single umbrella policy. Getting a health cover for the entire family is always a wise move. You have two options to cover your family members.
Individual cover: You can opt for individual coverage, wherein an individual sum insured is available separately for each family member covered under the policy. The insured person can use the assigned sum assured to meet hospitalization expenses.
|For instance, you bought the individual health insurance policy for all family members with a sum insured of Rs 1 lakh. If the hospital bill for treatment of your spouse is Rs 1.25 lakhs during a policy year, you need to pay Rs 25,000 from your pocket. Under this scenario, the insurance company will pay up to Rs 1 lakh for an insured person.|