5 Reasons Newlyweds Should Opt For Family Health Insurance

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Family Health Insurance
Family Health Insurance

The traditional Indian wedding transcends the union of two individuals; it symbolises the amalgamation of two families. Whether the newlyweds opt for a nuclear or joint family, the essence lies in fostering familial bonds. Beyond the cultural celebration, considerations for the future, such as health insurance, play a crucial role in this lifelong journey.

The Impact Of Family Bonding On Health Insurance

Health insurance becomes a shared responsibility in a society where family is paramount. The decision to embrace a family-oriented approach is especially pertinent for recently married couples. Here are five compelling reasons to contemplate health insurance plansfor a family in India.

  1. Budgetary Advantage

Consider a family of five comprising a recently married couple, parents, and siblings. Acquiring separate policies with a total sum insured of INR 5 lakh for each individual can be financially burdensome. Contrastingly, a more cost-effective alternative is opting for Bajaj Allianz health insurance plans for families covering all members under a single sum insured. It not only streamlines expenses but also ensures comprehensive coverage.

  1. Simplicity In Management

Managing multiple individual health insurance plans can take time and effort. A family floater plan simplifies the process, requiring only a single premium payment for coverage of the entire family. The administrative convenience of a unified plan, coupled with less stringent limitations, makes family health insurance a pragmatic choice.

  1. Additional Layer Of Protection

In many cases, the primary breadwinner may already be covered by an individual health insurance plan, possibly supplemented by an employee health insurance policy. A family health insurance policy serves as an additional layer of protection tailored to meet the entire family’s unique needs. While employee health insurance tends to be generic, a family floater or Mediclaim policy can be customised, enhancing the overall protection. Claims are subject to terms and conditions set forth under the health insurance policy.

  1. Tax Benefits

Financial prudence comes into play when considering health insurance for a family. Tax benefits under Section 80(D) of the Income Tax Act can be availed with family health insurance policies. This ensures comprehensive coverage and provides an avenue for saving money through tax deductions. **

  1. Enhanced Health Portfolio

A family floater plan can adequately address all health insurance requirements for families without a history of chronic illnesses. However, families predisposed to certain diseases may benefit from specialised critical illness plans. This strategic approach allows families to tailor their health insurance portfolio, ensuring optimal coverage based on individual health needs.

Navigating The Purchase Of Family Health Insurance

In today’s digital age, obtaining health insurance is effortless through online platforms. Prioritise comprehensive coverage over tempting low prices when exploring the online marketplace for informed decision-making. Carefully peruse the details provided on the insurance company’s website to understand the benefits and limitations of a family floater health insurance policy before buying health insurance online. Claims are subject to terms and conditions set forth under the health insurance policy.*

The union of two individuals in a traditional Indian wedding extends far beyond ceremonial rituals. It intertwines families and their shared responsibilities, including health insurance. Embracing family health insurance plans provides financial prudence and ensures a robust safety net for the entire family, contributing to a secure and harmonious journey through life. Claims are subject to terms and conditions set forth under the health insurance policy. *

 

Get insured anytime, anywhere! Check out Bajaj Allianz General Insurance website to learn more and download the app now.

*Standard T&C Apply

**Tax benefits are subject to change in prevalent tax laws. 

Disclaimer: The content on this page is generic and shared only for informational and explanatory purposes. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making any related decisions.

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.

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