Stress is a natural consequence of today’s lifestyle. The family breadwinner strives hard to offer the best of everything to the family.In the process he takes on undue stress which eventually takes a toll on his health. The senior members of the family are of course grappling with their own set of health problems. Unfortunately in this environment, even younger members are not safe from stress or other health issues.
Health problems are not just a challenge for the person’s body and spirit; they impairthe family’s finances. The breadwinner may need to liquidate assets or worse borrow money. The family’s investments towards retirement planning, child’s education, emergency fund,among other financial commitments also stand compromised.
Under the circumstances, it is important for the family to take comprehensive health insurance plans for family which can cover the family against medical emergencies.
To compare health insurance plans for the family it’s important to consider criteria such as:
- a. Day care benefit
- b. Pre and post-hospitalization cover
- c. In-patient hospitalization cover
- d. Ambulance cover
A plan that fares well in an objective family floater health insurance comparison is HDFC Life Health Assure Plan.
It offers flexibility to choose from two plan types:
- 1. Individual
- 2. Family floater for your spouse, children, both parents and parents-in-laws
The family floater option is particularly relevant for you and your dear ones. It’s easy to understand how the family floater works differently from individual mediclaim with this illustration -
1. Individual Mediclaim
It is the most basic form of medical insurance. If there are four family members with individual covers of Rs 1 lakh each, each member can claim reimbursement for up to a maximum of Rs 1 lakh. Each individual mediclaim policy is capped at the sum assured which is the maximum the insured can claim towards treatment.
2. Family Floater Policy
Family floater policies do away with the biggest shortcoming of the individual policy – the fixed sum assured. There is a floating sum assured for each member with a cap for the family as a whole.
Going by the previous illustration – a family floater policy for Rs 4 lakhs allows any family member to claim medical benefit for more than Rs 1 lakh so long as it is within the overall sum assured of Rs 4 lakhs. This way if two family members need medical treatment in a year amounting to Rs 4 lakhs, the family floater with Rs 4 lakhs sum assured proves useful. With independent mediclaim the members would have been eligible only for Rs 2 lakhs benefit and would have had to fork out the balance Rs 2 lakhs on their own.
HDFC Life Health Assure Plan family floater plan
Here is how the HDFC Life Health Assure Plan family floater plan fares on the most important parameters.
|Benefits within Annual limit
|Day Care Benefit
|Pre and Post Hospitalisation
|Donor Expense Benefit
|Hospital Cash Benefit
The family has the flexibility to opt for two more optional benefits:
a. Room Rent Enhancement:
This option eliminates the sub-limit on room rent and provide more flexibility to choose room
b. Restore Benefit Option:
Under this option the Sum Insured is restored to the original level if basic Sum Insured & multiplier benefit is exhausted due to claims made.
Other features include:
- • Premium Guarantee for three years even if you make a claim
- • Automatically doubles health cover after two claim free years
- • Guaranteed lifetime renewability
- • Cashless claim service at specified network hospitals across India
- • Hassle free claim reimbursement process