Best Health Insurance Company in India

Why is Buying Family Health Insurance So Important Nowadays?

23 February, 2021

0 Shares

281 Reads

Why is Buying Family Health Insurance So Important Nowadays?

Share

Family is the basic support system we all cherish and value in our lives and go beyond all measures to take care of them. As a breadwinner and responsible adult, one of the primary obligations one needs to fulfill is to ensure that your family remains healthy and receives the best healthcare services in times of need. Factoring in the rising costs of healthcare, it is ideal to purchase health insurance for family members so that it comprehensively covers them.

 

Why is Family Health Insurance Important?

 

A family health insurance offers coverage for all healthcare costs incurred by you and your immediate dependents under one umbrella policy. The dramatic onslaught of events brought in by the pandemic made many of us realize the importance of health coverage to deal with unforeseen medical expenses.

 

Following are the reasons why family health insurance is becoming an essential investment choice:-

 

1. Increase in lifestyle diseases

 

There has been a significant rise in diseases such as obesity, scoliosis, high blood pressure, diabetes, etc. amongst young adults which are often a result of poor lifestyle choices. In such a scenario, it is even more essential for us to ensure that proper healthcare is given top priority so that these problems can be dealt with early-on and it doesn’t transcend into something bigger.

 

2. Rise in Medical Inflation and Cost of Healthcare

 

The most primary reason for the rise in medical expenses in India is the inflation being witnessed in the healthcare industry. It is estimated that medical inflation stands at around 15% at present and is much higher than the overall rate of inflation, which stands at around 6-7%. This has resulted in a manifold rise in the cost of medical treatment, especially for critical illnesses. Hence, it has become essential to buy health insurance for family members in such times to cope with the rising costs of medical treatment.

 

3. Tax Benefits

 

To incentivize health insurance schemes, the government makes special provisions that allow one to claim deductions towards premiums paid for the health insurance policy. Under Section 80D of the Income Tax Act, you can claim a deduction of up to Rs. 42,744 on your family health insurance plan. You can also get deductions up to Rs. 1 Lakh if the proposer and the insured in the plan are above 60 years of age. Hence, family health insurance plans not only protect your family but also act as effective tax saving investments for your hard-earned money.

 

4. Coronavirus Protection

 

The pandemic has been an eye opener for many to realize the importance of planning for medical contingencies and purchasing health insurance. Since coronavirus is extremely contagious, chances are that it would likely affect you and your loved ones around the same time. To ensure that you are financially covered to manage such unforeseen medical expenses, it has become all the more important to purchase a health insurance plan for your family.

These plans provide coverage for services such as hospitalization expenses, in-patient care, and even reimburse you for quarantine services availed at authorized governmental centres so that you don’t have to bear the burden all by yourself.

 

5. Stress-Free Living

 

The last aspect of purchasing a health insurance plan is the security of having your family covered for all future unforeseen medical expenses. As adults, one of the most intense situations one goes through is when their child or parent fall ill. Purchasing a family health insurance plan ensures that you can truly be there with your loved ones in trying times with one less stress that you need to take.

 

Conclusion:

 

As seen above, the advantages of a family health insurance plan are many, such as protection from a variety of diseases that are covered under the plan and even tax benefits. Moreover, if one wants to live a stress-free life and ensure that their family’s medical expenses don’t cause a dent in their budget, a family health insurance plan is a must have.

Start Your Insurance Today!

Secure your Health with comprehensive insurance plans from Niva Bupa

+91
Disclaimer infoBy clicking Start Now, you authorize Niva Bupa to Call/SMS/Whatsapp on your registered mobile overriding DNCR.

You may also like

Health InsuranceHealth InsuranceMedical Insurance Best Health Insurance PlansHealth Insurance PlansHealth Insurance PolicyBest Health Insurance PlansBest Family Health InsuranceBest Mediclaim PolicyBest Health Insurance In IndiaBest Medical Insurance In IndiaBest Health Insurance Plans In IndiaBest Health Insurance Policy In IndiaMediclaimBest Health Insurance For Senior Citizens In IndiaBest Health InsuranceHealth Insurance With Opd CoverMediclaim InsuranceMedical Insurance PlansBest Health Insurance Company in IndiaCritical Illness InsurancePersonal Accident InsuranceMediclaim PolicyIndividual Health InsurancePregnancy InsuranceMaternity InsuranceBest Family Health Insurance plans in IndiaBest Health Insurance companyFamily Health InsuranceBest Health Insurance plans for Senior CitizensMediclaim Policy for Family

 

Health Insurance SchemesChief Ministers Comprehensive Health Insurance SchemeEmployee State Insurance SchemeSwasthya Sathi SchemePradhan Mantri Matru Vandana YojnaGovernment Health Insurance SchemeDr. YSR Aarogyasri SchemePradhan Mantri Suraksha Bima YojnaHealth Insurance DeductibleWest Bengal Hcovealth SchemeThird Party AdministratorRashtriya Swasthya Bima YojanaIn Patient Vs Out Patient HospitalizationMukhyamantri Chiranjeevi YojnaArogya Sanjeevani Health InsuranceCopay Health InsuranceCashless Health Insurance SchemeMukhyamantri Amrutum Yojna

 

Travel Insurance - Travel Insurance | International Travel InsuranceStudent Travel InsuranceTravel Insurance USATravel Insurance CanadaTravel Insurance Thailand | Travel Insurance GermanyTravel Insurance Dubai | Travel Insurance Bali | Travel Insurance Australia | Travel Insurance Schengen | Travel Insurance Singapore | Travel Insurance UK | Travel Insurance Vietnam | Malaysia Tourist PlacesThailand Visa for Indians  | Canada Visa for Indians | Bali Visa for IndiansECR and Non ECR Passport | Qatar Visa StatusUSA VisaVietnam VisaUSA H1B Work Visa

 

Become an agentInsurance Agent | Insurance AdvisorLicensed Insurance AgentHealth Insurance ConsultantPOSP Insurance Agent

 

Group Health InsuranceStartup Health Insurance | Commercial Health InsuranceCorporate insurance vs personal insuranceGroup Personal Accident Insurance

 

Top Hospitals -  Best Hospitals in ChennaiTop Hospitals in DelhiBest Hospitals in GurgaonBest Hospitals in IndiaTop 10 Hospitals in IndiaBest Hospitals in HyderabadBest Hospitals in KolkataBest cancer hospitals in BangaloreBest cancer hospitals in HyderabadBest cancer hospitals in MumbaiBest cancer hospitals in IndiaTop 10 cancer hospitals in IndiaTop 10 cancer hospital in DelhiMulti Speciality Hospitals in MumbaiMulti Speciality Hospitals in ChennaiMulti Speciality Hospitals in HyderabadSuper Speciality Hospitals in DelhiBest Liver Hospitals in DelhiBest Liver Hospitals in IndiaBest Kidney Hospitals in IndiaBest Heart hospitals in BangaloreBest Heart hospitals in IndiaBest Heart hospitals in KolkataBest Heart hospitals in Delhi


OthersTop Up Health Insurance PolicyCorporate Health InsuranceHealth CardSection 80d of Income Tax ActAyushman BharatHealth Insurance PortabilityGoActive Family Floater PlanHealth Companion Family Floater PlanHealth Premia Family Floater PlanHealth Pulse Family Floater PlanHealth Recharge Family Floater PlanHeartbeat Family Floater PlanMoney Saver Family Floater PlanSaral Suraksha Bima Family Floater PlanSenior Citizen Family Floater PlanSuper Saver Family Floater PlanCorona Kavach Family Floater PlanHospital Cash InsuranceCashless Health InsuranceHealth Companion Price revision | Heartbeat Price revision | ReAssure Price revision 

 

Health & Wellness - PCODPCOD Problems SymptomsStomach InfectionStomach Infection symptomsHome remedies for Stomach InfectionHypertension definitionHow to Control SugarTyphoid in HindiBlood sugar symptomsTyphoid symptoms in hindiLow sugar symptoms | ब्लड शुगर के लक्षणpregnancy me kya kareOpen heart surgery costBlood infection symptoms in hindiBP badhne ke karanKhansi ka gharelu upayOmicronCoronavirus Health InsuranceCovid XE VariantNorovirus

footer logo
Some image

www.nivabupa.com

Some image

+91 11 41743397

Some image

1860-500-8888

Some image

14th Floor, Capital Cyberscape, Sector 59, Gurgaon

  • Insurance is a subject matter of solicitation. Niva Bupa Health Insurance Company Limited (formerly known as Max Bupa Health Insurance Company Limited) (IRDAI Registration Number 145, Category:Health), 'Bupa' and 'HEARTBEAT' logo are registered trademarks of their respective owners and are being used by Niva Bupa Health Insurance Company Limited (formerly known as Max Bupa Health Insurance Company Limited) under license. CIN: U66000DL2008PLC182918
  • 1 Niva Bupa processes pre-authorisation requests within 30 minutes for all active policies, subject to receiving all documents and information(s) up to Niva Bupa’s satisfaction. The above commitment does not include pre-authorisation settlement at the time of discharge or system outage.
  • 2 Since Inception refers to claim data from 2010 till December 2023.
  • 3 ReAssure 2.0 Premium: The premium is including taxes and for Bronze Variant, for a 25-year-old individual living in Delhi.
  • 4 Aspire Premium: The premium is including taxes and for Gold+ Variant, for a 25-year-old individual living in Delhi.
  • 5 Senior First Premium: The premium is including taxes and for Gold Variant, for a 65-year-old individual living in Delhi.
  • 6 Health Premia Premium: The premium is including taxes and for Silver Variant, for a 25-year-old individual living in Delhi.
  • 7 SmartHealth + Disease Management Premium: The premium is including taxes and for Disease Management Gold Variant rider when bought with ReAssure 2.0 Bronze variant with Base Sum Insured of 5 lacs, for a 25-year-old individual living in Delhi.
  • Beware of spurious / fraud phone calls! Do not share your confidential information like Debit / credit card number, Internet Banking User ID/Password, Pin, CVV, OTP, etc. with anyone. Avoid clicking on attachments / payment link received in mails / message from unknown sources. IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment or premium. Public receiving such phone calls are requested to lodge a police complaint. Do not respond to unsolicited and attractive offers received through unidentified calls, emails, SMSs, and other social media platforms. Beware of misleading telephone calls from people posing as Niva Bupa officials, agents, IRDAI Officials, Officials from ECI (Office of the Executive Council of Insurers) etc. and offering alluring benefits or sharing false information on your policy or on Niva Bupa. Niva Bupa shall not be responsible for any loss or damages whatsoever for any acts or omissions arising out of such spurious calls, and all customers are advised to contact our customer care at 1860-500-8888 and verify any representations or promises made by any such spurious callers before acting upon the same.
Social IconSocial IconSocial IconSocial IconSocial Icon