Adapting to the changing landscape of family health insurance in 2024: What you need to know

Your family is your most valuable possession. Ensuring that your family's financial and medical needs are met, should always be your top priority.

A health insurance, which is also known as a medical insurance plan or policy, helps you cover the cost of medical treatment for illnesses, injuries and more. Now, a range of health insurance policies are available in India, ranging from basic hospitalisation coverage to comprehensive policies with additional benefits like preventive medical care and benefits received in case of death. A health insurance plan provides potential tax savings of up to INR 75,000.

ACKO’s Health Insurance Plans for Family provides complete health insurance. With one of the greatest family health insurance plans, we relieve the burden of having to get separate health insurance.

What are Family Medical Insurance Plans?

A family health insurance plan is a type of medical insurance that offers a single health policy that covers every member of your family. There are varied types of family insurance policies that you can choose from. However, make sure you pick one that has maximum coverage.

Strategy to Choose the Best Health Insurance Plans for Family in India 2024

In order to select the most suitable health insurance plans for families in India in 2024, just follow the three easy steps listed below.

Step 1: Understand your requirements

It is crucial to understand your needs and then choose a family health insurance plan. The following things should be considered:

● Number of family members: The more family members you are covering, the higher the sum insured you will need.

● Age, health and medical history of the family members: Aged family members and those with chronic health conditions will require a higher sum insured.

● Medical costs in your area: The sum insured that you need will be affected by the medical costs in your area.

● Your budget: You should be mindful while choosing a sum insured so that you can afford to pay the premiums.

Step 2: Look out for the various options

These are some of the specific steps that you can take to find health insurance plans for your family:

● Do your research: Start by researching different insurers and their health insurance plans for families. Compare rates, coverage, etc. But before that, one should have a sound knowledge of the following:

o Consumers' access to a wide range of health insurance options is significantly impacted by the ongoing improvements in medical technology, novel treatments, and health services in the healthcare sector. Understanding these advancements is essential to guaranteeing that you have the ideal coverage that precisely matches your unique needs.

o Have proper knowledge regarding preventive care benefits, wellness programs and coverage for pre-existing conditions.

o Know about the recent legislative changes.

● Obtain quotes: After you've restricted the number of options, obtain quotes from several insurance providers. You can use this to determine which plan best suits your needs in terms of affordability.

● Read the fine print: Make sure you read the fine print before deciding on a plan. This will assist you in comprehending the policy's terms and conditions.

● Ask questions: Get in touch with the insurer if you have any. If you have any questions concerning the plan, they should be able to respond.

Step 3: Make an informed decision

It's time to make a well-informed purchasing decision now that you have a solid grasp of your wants for health insurance and your accessible options. Select the policy that best fits your needs in terms of coverage, cost, and services by comparing the available options.

Buy Mediclaim Policy for Family Online: Health Insurance Plans for Family by ACKO

The ACKO Health Insurance Plan, also known as the ACKO Platinum Health Plan, is a family-floater plan that provides comprehensive coverage for your entire family. It covers you, your spouse and your children under one plan. You can even include your parents and parents in-law under the cover.

The premium for the policy increases with the number of members you add. It all comes down to protecting your family and taking your premium into account.

This plan's beginning price is about INR 150/month. This policy's "sum insured," or health insurance coverage, can be INR 1 crore and Unlimited sum insured.

Features of ACKO Family Health Insurance Plans that Make It the Best Option

● You get the advantage of the sum insured — you and your covered family members get to share the selected sum insured. You can choose between the sum insured options of Rs. 1 crore and Unlimited.

● ACKO has 14300+ India Network Hospitals PAN India that offer cashless hospitalisation.

● Zero co-pay — When it comes to bearing hospital expenses, you are not required to make any financial contributions.

o Pre-hospitalisation up to 60 days

o Post-hospitalisation up to 120 days

● You do not have to wait to avail of the benefits; there is no initial waiting period.

● Bill coverage of 100% — The cost of consumables is also covered under this.

● There is no deduction on claims.

● Benefits like non-medical expenses, doctor-on-call, room rent waiver, etc can be availed

● There is no fear of middleman commission. ACKO directly caters to you and your needs.

● For a policyholder, having to raise a claim is the most essential aspect. With ACKO, you can raise a claim via the ACKO app. The Claim Settlement Ratio was 98% (FY22-23).

● Tax Benefits — As per the Income Tax Act (80D) you can claim a deduction of up to INR 75,000 as per your eligibility for medical expenses incurred. Note that the deduction limit is subject to changes.

For hassle-free, all-inclusive insurance that genuinely cares about your well-being, go with ACKO. Get going now to enjoy the tranquillity you are entitled to.