How To Maximize The Benefits Of Family Health Insurance Plans

We are all aware of the significance of having health insurance. However, occasionally you might not receive particular coverage under your health plan and look to purchase extra insurance. How do you go about doing that? Read on to find out more.

If you believe your health insurance coverage is insufficient, you can do one of the following things to get the best health insurance benefits:

1. Increase the sum insured upon renewal

The optimum time to raise your health insurance policy’s coverage or deductible is during renewal. Every year, every health insurance policy must be renewed to maintain the plan’s coverage. In actuality, every health insurance presents the policyholder with the option of upgrading coverage at the time of renewal.

2. Use the super top-up plan

If you want to increase the scope of your health insurance coverage, you may also purchase a super top-up plan. By choosing this option, you can obtain coverage for medical facilities above the deductible amount. Additionally, the super top-up plan offers the policyholder comprehensively improved coverage. Additionally, it provides tax benefits for the insured under section 80D of the IT Act of 1961. **

3. Portability of health insurance

This is yet another way to improve health insurance. As a result, portability allows you to change to a different health insurance plan if you are dissatisfied with your current plan’s coverage. By transferring, you can modify your policy with the new insurer and have your sum insured raised as well. However, it is up to them whether the insurer permits you to enhance the sum assured in such a circumstance.

4.Get family floater insurance

Choosing family floater policies over solo ones is another way to extend your health insurance plans for family coverage. Family floater policies, often known as health insurance plans for families, offer extensive coverage because they cover all financially dependent family members. Families should therefore select floater plans rather than separate plans.

5.Purchase the appropriate add-ons

You can pick the appropriate add-on to a health insurance policy to boost coverage and offer more health insurance benefits. There are several add-ons that support enhanced coverage under your plan that are included in health insurance policies. These add-ons include, for instance, maternity add-ons, critical sickness coverage, personal accident coverage, and room rent waiver.

6.Get cumulative bonus

As a form of incentive for making no health insurance claims throughout a policy year, insurers give a cumulative bonus to policyholders. You can get a reduction on your premium and even expand the coverage provided by your plan if you have earned a cumulative bonus under your health plan. *

7. Invest in health insurance at a young age

Early purchase of health insurance provides various advantages, including broader coverage. This is due to the fact that if you purchase a health plan in advance, your chance of contracting diseases will not increase, and you won’t need to use your health insurance.  Thus, you could receive a cumulative bonus.

* Standard T&C Apply

** Tax benefit is subject to change in prevalent tax laws

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.