6 Reasons for Newly-Married Couples To Consider Medical Insurance for Family
The grand Indian wedding is a freak show. It’s more than just two people vowing to spend the rest of their lives together. It is a union of families. Whether the newlywed couple lives in a joint or nuclear family, family bonding is integral to their life journey. This family bonding impacts all aspects of a newlywed couple’s life, including medical insurance for family.
Since you intend to spend your entire life together, both of you must have financial security in the event of a medical emergency. As a result, reviewing and updating your health insurance plan after marriage is critical to ensure that you and your growing family have the best coverage possible. If you are recently married or planning to marry soon, here are six reasons you should consider getting medical insurance for a family in India.
Simple to Handle
Managing multiple individual plans is more time-consuming than managing a single-family floater plan for the whole family. The restrictions are also less stringent than purchasing an individual health insurance plan. You simply pay a set premium, and you and your family will have health insurance coverage.
When purchasing medical insurance for a family, one can receive tax benefits based on the specific nature of the policy chosen. Section 80 of the Income Tax Act allows for such tax deductions (D). As a result, by purchasing a Mediclaim policy for your family, you can save money while ensuring comprehensive health insurance coverage.
Assume a family of five people consists of a newlywed couple, parents, and a sibling. It will be an expensive affair if five individual policies of INR 10 lakh (sum insured) are purchased. Purchasing medical insurance for a family with a sum insured of INR 10 lakh will be less expensive. A single-family health insurance policy will cover all members.
A newly married couple who intends to expand their family in the future should obtain maternity add-on coverage as soon as possible. This is due to the fact that maternity insurance typically comes with a long waiting period.
However, if you and your new spouse have made the decision not to have children immediately, now is the time to be certain of that decision because if you change your mind, you will face a lengthy waiting period, during which any maternity claims will be denied.
Marriage brings about many changes, and as you and your partner grow together, you may require more protection. So now is the time to look into health insurance add-ons to personalize your policy as needed.
However, apart from maternity insurance, other important add-ons to take into account include critical illness insurance, personal accident insurance, and top-up insurance. It is critical to make a decision as soon as possible because some of these policies may have waiting periods.
Extended Family Cover
Family health insurance plans provide coverage for the entire family. In contrast to individual plans, medical insurance for family covers all members of your family for a single premium. This means you don’t have to pay separate premiums for each person, regardless of age. If you select a family health insurance plan, you can add your in-laws under the same plan after marriage.
Marriage is a significant change in your life, but it is also an opportunity to make a number of other changes. While you may be moving to a new city or a new house, it is also important that you and your companion are financially protected so that you can enjoy your new life together. As a result, you must make sure that both of you, as well as your families, are covered by the best health insurance policy available. You can choose the Family Floater plan by Care Health Insurance to secure up to six members under one policy.
To purchase Care Family Health Insurance Policy, you no longer need to go to a branch office of the insurance company. You can buy a plan from the comfort of your home using an internet connection.
Before purchasing health insurance, it is recommended that you compare policies online. However, one should not be swayed by low prices and should compare based on the required coverage. The inclusions and exclusions of medical insurance for families will be clearly explained on the insurance company’s website. Before purchasing medical insurance for a family, you must thoroughly review them.