Health Insurance: decide on the basis of who is better at individual policy and family floater

Health Insurance: Health services are becoming more and more expensive per day. Apart from this, people are suffering from diseases due to lifestyle changes. Apart from this, if the corona is infected at the present time, if there is a chance of hospitalization, then all the money spent is spent on its treatment. In such a case, precautionary measures should be taken and most people take out health insurance. This greatly reduces the cost of hospitals. However, once again people are faced with the dilemma of whether to take out an individual health cover or a family floater program. Speak best of both systems, with a family floater, you can provide health safety to your family with just one plan. Under this, only the health care system provides health coverage to parents, wife and children. When choosing any program, consider its benefits.

This is a definition of individual health insurance and family floater

Individual Health Insurance means separate insurance cover for all family members and everyone, cover according to the situation. In contrast, Family Floater states that any family member can use his or her limitations. For example, if you have taken a 6 lakhs family health plan, then any family member can use this entire limit.

Benefits of Each Health Insurance Scheme

• In the event of adverse conditions due to hospitalization, nonprofit benefits may be available under health policy. Under this, there is no charge for hospital expenses and the health insurance company pays it.
• Many insurance companies offer daily expenses in case they are hospitalized. However, this benefit is only available if you have been hospitalized for a few days as defined by the health insurance company.
• If you are investing in health insurance, you can deduct the tax under Section 80D of the Income Tax Act to pay the premium.

Benefits of a Family Flow Program

• Compared to individual insurance policies, the family floater program offers the option of more secure time and additional coverage. Normally, each person, spouse and child is covered under this, but some insurance companies also provide access to your parents, siblings and in-laws.
• You can get a tax deduction under section 80D of the Income Tax Act when you pay the amount paid for the family floater program. Apart from this, if you pay your parents' premium again, the tax benefits can be doubled.
• The family receives the highest possible treatment under the family floater program. These include hospitalization costs, doctor's consultations, Medicill costs, hospital staff care, ambulance cover and other costs. Apart from this, some insurance companies also offer an annual health check-up for the whole family.
• You can take advantage of the companies offered under the Family Floater Health Insurance scheme.
• It is easy to add a new family member under the family floater program.
• Some insurance companies now offer the cover option for two more years. This means that you will receive ongoing insurance coverage with no change to the premium.
• (Source: PolicyBazaar)