In the current era, most people are taking health insurance cover. However, people face a problem here whether to take individual health cover or family floater plan.
Health Insurance: Health services are becoming more and more expensive by the day. Apart from this, people are facing diseases due to changing life style. Apart from this, if the corona gets infected in the current era, if there is a chance of hospitalization, then all the savings are spent in its treatment. In such a situation, measures should be taken in advance and most people are taking health insurance cover. This reduces the worry of the cost of hospitals to a great extent. However, here too people face a problem whether to take individual health cover or family floater plan. Talk about better in both these plans, through family floater, you can give health security to your family in only one plan. Under this, only a healthcare plan can give health cover to parents, wife and children. While choosing any plan, definitely see its benefits.
These are the meaning of individual health insurance and family floater
Individual Health Insurance means separate insurance cover for all the family members and for everyone, coverage according to the situation. In contrast, Family Floater means that any member of the family can use its limit. For example, if you have taken a family health plan of 6 lakhs, then any member of the family can use this entire limit.
Benefits of Individual Health Insurance Plan
If in case of any adverse circumstances due to hospitalization, then cashless benefits can be availed under the health policy. Under this, there is no payment for hospital expenses and the health insurance company pays it.
Many insurance companies provide every day expenses in case of hospitalization. However, this benefit is available only when hospitalized for a minimum number of days as prescribed by the health insurance company.
If you invest in a health insurance policy, you can avail tax deduction under Section 80D of the Income Tax Act on payment of premium for this.
Benefits of Family Floater Plan
Compared to individual insurance policies, the family floater plan offers the option of more time insured and more coverage. Generally, individual, spouse and child are covered under this, but some insurance companies also provide coverage option for you dependent parents, siblings and in-laws.
You can avail tax deduction under section 80D of Income Tax Act on payment of premium for family floater plan. Apart from this, if you pay the premium for your parents too, then the tax benefits can be doubled.
The family gets maximum medical coverage under the family floater plan. This includes hospitalization fees, doctor consultations, Medicill procedures expenses, hospital staff care, ambulance cover and other expenses. Apart from this, some insurance companies also provide an annual medical check-up for the whole family.
You can take advantage of the offers given by companies under the family floater health insurance plan.
It is easy to add a new family member under the family floater plan.
Some insurance companies are now providing the option of cover for two years as well. This means that you will get continuous insurance cover without any change in premium.
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