Younger people who drive through roads everyday are prone to accidents. This risk cannot be avoided but the better idea to deal any such case is to have a Personal accident insurance plan. It covers you against the high medical cost arising out of a medical emergency.
Personal accidents are not covered under your health insurance plan, so it is always better to be prepared for such unfortunate events in your life. Health insurance plan and personal accident insurance plan are two different products that provide financial assistance at the time of medical emergency. Health insurance plan covers the medical cost, in case of any health related problems but not when you got injuries due to an accident. For such accident, you need to be covered under a personal accident insurance, which takes care of the best medical care and financial need at the time of medical emergency. There are more than 100 accidental insurance plan and their providers in Indian insurance market. It might be possible that you get confused between these policies. This article is a perfect guide to buying the best personal accident insurance plan from the market. Now, read the benefits and coverage that you should consider while buying personal accident insurance plan: Death Coverage Consider a plan that offers full sum insured in case death occurs due to an accident. It is true that life insurance offers equal to sum assured to the nominee, in case of death caused due to accidental or natural. But personal accident insurance plan pays the sum assured only in case of accidental death. Coverage for Children Education Along with this death cover, the policy should also provide children education bonus. Consider this amount around Rs.5, 000 per child maximum for 2 children. This will help you to safeguard your children’s future after your life. Permanent Total Disablement Think of a situation that due to an accident if you become disabled for life, how you will earn your livelihood. Make sure your personal accident insurance plan offers total sum assured. Permanent Partial Disablement In case you met with permanent partial disability unlike permanent disability as mentioned above then your insurance provider must pay you the certain percentage of sum assured depending on the level of disablement. The percentage of total sum insured offered under the plan varies from policy to policy. Temporary Total Disablement For example, you met with an accident which causes minor injuries that need few days or week bed rest for recovery. Make sure your insurance provider pays a certain percentage of sum assured as a benefit. Again this percentage varies from policy to policy and company to company. Along with the aforementioned features, you should also consider some interesting offers from the insurers like a cumulative bonus for the claimless year, family discounts, medical treatment expenses, etc. Few Important Tips to Buy Personal Accident Insurance Plan Write Down Your Requirements It is very important and the first step you should consider while buying a personal accident insurance plan in the market. Make a list of your own requirements, for example, the coverage and benefits you wish to have under your plan. This will help you to buy the plan that will fulfil all your requirements. Compare Online Before finalizing any plan you should compare different plans available in the market. Comparing on the basis of its coverage, benefits, and premium amount will help you to buy the best accidental plan. Consider Lower Premium The lower premium will help you to avoid high expenses, to do so you should choose the coverage that is beneficial and use to you. Buy It Online Last but not the least is buying a personal accident insurance plan online. This will help to save your money and time.
0 Comments
Health is Wealth. Everyone has heard this adage. In today’s world with the rising costs of health care and medical facilities, this saying is doubly true. In the modern age we are at risk for increased health problems to the increasing pollution and hazards of modern living.
Therefore, it is crucial for us to have a good health insurance plan that provides Family Health Insurance Plans and also covers all our health care expenses. We are constantly worried about the well-being and health of our family. Getting good Family Health Insurance Plans can go a long way in alleviating such concerns. More and more people today are opting for family floater health insurance plans rather than individual covers. Best Family Health Insurance Plans Available Online ICICI Lombard Complete Family Health Insurance Plans - provides comprehensive coverage for you and your family. The policy also offers customization as per the insurer’s needs taking factors like hospitalization and maternity cover into play. Policy Coverage
Merits of Family Health Insurance Plans
Demerits of Family Health Insurance Plans
Max Bupa Heartbeat – is a family floater plan that provides complete blanket coverage for the health care of your family. Policy Coverage
Policy Coverage
Policy Coverage
Tata AIG- has Family Health Insurance Plans that provide each family member with independent coverage. There are three main plans-Classic, Supreme and Elite. Policy Coverage
Policy Name Entry-Exit Age Cap Sum Assured Limit ICICI Lombard Complete Health Insurance – iHealth Plan 3 months- No limit 3,00,000- 10,00,000 Max Bupa Heartbeat No lower or upper limit 2,00,000- 50,00,000 Star Health Family Health Optima 5 months- 65 years 1,00,000- 15,00,000 The Oriental Insurance Happy Family Floater 3 months- No limit 1,00,000- 5,00,000 (Silver) 6,00,000- 10,00,000 (Gold) Tata AIG Wellsurance Family 6 months- 65 years 2,00,000- 4,00,000 Health insurance plans act as a great saviour to protect an individual from any financial burden arising out of hospitalization and illnesses. The best way to protect your entire family under a single health plan is by opting for family floater plans. Family floater plans help safeguards all the members of your family on a shared basis and with no individual limit for each member. The points mentioned below will assist you to understand in detail about family health plans, its key features and benefits. What is Family Health Plan? As opposed to individual health plans, family health plans covers the entire family under a single plan. It works with the prime assumption that all the members of the family will not fall ill at the same time or will have hospitalization expenses. If any member gets hospitalized, they can claim coverage up to the entire sum insured amount and thereby gain from a wider coverage. Differences between Individual and Family Health Plans How to Select the Best Family Health Plans? Choosing the right family health plan for your family depends on your family and their individual health requirements, dependencies and financial needs. Here are some points that will help you choose the right family health plan: 1. Sum Insured Selecting the right sum insured or coverage amount for the entire family is very important. Consider the number of members and their age, and choose the right sum insured amount for the family health plan. Even if one member gets hospitalized, there should be enough amount left for other members who might be at risk. 2. Age Older individual carry a higher health risk since they are more prone to diseases when compared to younger individuals. When you plan to cover your elderly parent or in-law under your family health plan, their age will determine the amount of premium you would pay. The higher the age of that member, the higher the premium will be. Also, there are possibilities that the elder member might use up a large part of the shared sum insured amount of the family health plan. Hence it is always recommended to buy a separate health plan for senior citizens, parents/in-laws. 3. Sub Limits Ensure that the family health plan does not have any sub-limits or specific limits for certain illnesses or treatments. Also check if there any room expense limit and reduce your out of pocket burden. Do, check out the exclusions, pre-existing diseases coverage and other clauses of the family health plan, before you make your purchase. 4. Premium A premium for a family health plan would definitely cost you lesser than separate individual healths for each member. Compare and select the best family health plan with a competitive premium rate and wider coverage. All in all, health insurance should not be considered as an unwanted expenditure. Having adequate health coverage is a must to protect you and your family. The best family health plans will reduce your burden and save your expenses by sharing cost across all the members of your family. Consider the above factors when selecting the best family health plan that is suitable for your family needs and requirements. |