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How to choose the best health insurance for my family?

Date: 22 Jul 2016   Posted By: Bibhu Prasad Mishra     Group: Finance and Investments    Category: Insurance   

Can any one explain me what is the best way to choose the health insurance and how to take a family protection plan? Which is better health insurance plan?
Is Individual or whole family plan better?
How to choose the best health insurance company?
What are the key points to be remembered while buying a health insurance plan?
Experts: do advice.

Confused about the best family health insurance plans? Find advice from experts on this page.

Author: Kailash Kumar    23 Jul 2016      Member Level: Platinum     Points : 2  (Rs 2)    Voting Score: 0

The most important point to remember while buying a health insurance policy is to not to hide any information about the pre-existing diseases, even if the insurance agent promises a moon and reiterates that there is no harm in hiding certain given information. Also, prior to contacting any insurance agent, sufficient homework should be done so as to not to get cheated/misled by the agent. In most of the cases, the agent's objective is generally limited to selling the policy by hook or crook and thus encash his/her commission.
Nowadays it's possible to buy health insurance policies online also. The main products available in the market are individual health insurance policies, family floater health insurance policies, pre-existing disease cover policies or maternity health cover policies etc. Family health plans cover insurance for the entire family during a medical emergency.
There are websites like which offer detailed information about the various aspects of all types of policies including the health insurance policies also.
In my opinion, in case the author is serious about buying a health insurance policy, then he/she should devote due time in researching on internet resources prior to taking any precipitate action.

Author: Mahesh    23 Jul 2016      Member Level: Gold     Points : 2  (Rs 2)    Voting Score: 0

Individual health cover plans are really good for those who are either single or have multiple members earning in the family. This can be good if your income is large and you can afford customized individual health plans for each member. This can be also a good option if your parents are in old age and some of the health policies don't apply to them. In such case your best option is to choose individual healthcare plan.

If you're the sole person working at home, then you should consider the family floater plan. This plan allows you to use the policy for the rest of the family members registered under the plan. This way you can save money on the individual member's health issues. Also, it helps in the taxation too. Also for the family with the limited income, such plans can be a money saver too.

Policybazaar can be a good place for you to find out if there is any good health plan for you. They do, however spam a lot of policy mails and SMS. But you can try them to see the comparison of the products in the market. They have very good data on which health care plans are best for you. Apart from this you should also make a list of insurance companies and their policies and compare them as per your needs.

Before you buy health insurance for yourself or any other family member :

1. Do health checkup of your body and find out your health issues.
2. Find out if your health issues are covered by the insurance companies.
3. Make sure you know the premium for your insurance policy is under your budget. You have to modify the policy accordingly.
4. Choose the company that allow cashless hospitalization and medical expenses option.

These are some of the points for you to look at before you take plans with any specific company.

Author: Venkiteswaran.    23 Jul 2016      Member Level: Diamond     Points : 4  (Rs 4)    Voting Score: 0

First of all assess what is the extent of medical benefits or reimbursement of medical expense your company(employer) is giving you. How the family members are covered in that? Is it a co-payment scheme and if so how much percentage? If that is sufficient, then what you need is a small family floater medical insurance scheme to take care of the needs of continuity once you cease employment, and the gap of reimbursement from employer. It will be enough if you take a Bank assurance medical insurance linked to your bank account.

If there is no benefit from employer or it is very less, then you can take a family floater if your children are not employed and not adults. Then you may take a policy for a reasonable amount and premium for which you can afford to pay easily. It is always better to take a policy where medical test is not mandatory. You should see that you declare all health facts.
You must read all fine prints. The policy which extends to very old age as long as possible is better.

You should enquire with two or three popular insurance companies and then compare them clause by clause. You should carefully read and understand what are the exclusions, what are the inclusions.

Author: Swagatika Pattanaik    23 Jul 2016      Member Level: Gold     Points : 1  (Rs 1)    Voting Score: 0

Now days Health Insurance should be must for every one.
Normal people get confused whether to take individual plan or family floater.
First of all if you are single and your parents are also young then only take the family floater, but if you are married then just take the family floater for you, your spouse and kid.
Never add your parents in that policy as Insurer always charge the premium on the elder person of the policy holder. SO you will be charged with higher premium.
You can visit policy bazaar (dot)com with your details, they will provide you premium calculator with the help of your data provided to them. But my personal suggestion is go for star health Insurance.

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