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Health insurance is a type of insurance coverage that covers the cost of an insured individual's medical and surgical expenses.Depending on the type of health insurance coverage, either the insured pays costs out of pocket and is then reimbursed, or the insurer makes payments directly to the hospital.
Medicare or medical costs are rising year on year. As a matter of fact, inflation in medicare is higher than inflation in food and other articles. While inflation in food and clothing is in single digits, medicare costs usually escalate in double digits.
For an individual who hasn’t saved that much money, arranging for funds at the eleventh hour can be a task. This is particularly daunting for seniors, given that most ailments strike at an advanced age.
One way to provide for health-related / medical emergencies is by taking health insurance. Health insurance offers considerable flexibility in terms of disease / ailment coverage. For instance, certain health insurance plans cover as many as 30 critical illnesses and over 80 surgical procedures.
With health insurance, you are assured of a more secure future both health-wise and money-wise. This makes health insurance policies critical for individuals, especially if they are responsible for the financial well-being of the family.
Family health insurance is a more comprehensive type of insurance that provides a combined coverage for all the members of the family under one policy. It generally provides cover for a number of diseases within a single unified plan and depending on the plan chosen, it could be more than one time for one disease for all the members. It functions on a fixed sum ascertained for the policy to provide for the entire family that enables the family to multiple claims for each person covered within the specified duration/ term of the plan.
Under varied conditions, family health insurance plan can stand as much more advantageous in specific circumstances for a particular family as compared to the individual plans for everyone separately. The family health insurance is availed at an accumulative premium cost for all the members at one go and thus, comes to be cheaper than the individual plans. In a family plan, the premium is typically calculated in relation with the eldest member and also, the insurers are not given renewals beyond a certain age.
Despite of obvious reduction in cost and access to a wider range of diseases covered and also the ease of managing just a single policy that covers all, there are certain drawbacks as well such as the entire No Claim Bonus getting diluted for the whole year, in case of even a single claim by one person. Also, in most cases, the policy cover cannot be extended to the grandparents or in-laws and thus, there is need for an individual policy for them, any which ways.
We do not charge any fee for this service.
Yes you can take a family policy from us also mentioning about the existing policy details. Even a top-up policy with additional amount of cover can also be taken wherein the policy provided by employer gets treated as base policy.
Hospital / Nursing Home means any institution in India established for indoor care and treatment of sickness and injuries and which either.
Has been registered either as a Hospital or Nursing Home with the local authorities and is under the supervision of a registered and qualified Medical Practitioner or Should comply with minimum criteria as under :-
A Hospital, which has an agreement with insurance company for providing Cashless treatment, is referred to as a 'Network Hospital'. Cashless facility is provided ONLY at the network hospitals. Non-network hospitals are those with whom we do not have any agreement and any policyholder seeking treatment in these hospitals will have to pay for the treatment and later claim as per reimbursement procedure.
A health card is a card that comes along with the Health Policy. It is similar to an Identity card. This card would entitle you to avail cashless hospitalization facility at any of the network hospitals. A health card mentions the contact details and the contact numbers of the TPA. In case of a medical emergency, you can call on these numbers for queries, clarifications and for seeking any kind of assistance. Moreover, you need to display your health card at the time of admission into the hospital
Entry age varies from company to company, however, it is 65 years for most companies. Star Health Insurance Company has a product for senior citizens wherein the policy can be initiated upto the age of 75 years. If regular premiums are paid, policies are valid life-long.
You can fix an appointment with us through the Book an Appointment or Request a Call back link above. We will do the needful.