If you have undertaken a decision to buy a medical insurance policy for your family, then that is indeed a wise move. Having financial backup in case any of your beloved family members fall ill or undergo a major injury is important during these times when medical inflation runs high. However, buying any policy without serious consideration will not do. You must ask some important questions to choose the correct family plan. In this article, we have laid down three questions to ask in regards to your family before you buy a family health insurance plan. 

 

• How many members of your family need coverage under the family health insurance? 

 

In most health insurance plans for family coverage, you can add a large number of people, including your nieces and nephews, dependent parents-in-law and siblings, and so on. One can also purchase a family plan if they are a single parent family. However, adding everyone in the family under one plan may not always be a good idea. Some family members may require a separate plan for themselves. For instance, senior citizens may require frequent medical care and so, may make regular claims on the family plan. A separate medical insurance plan would be perfect for them, as it would include a separate sum insured solely for themselves and their medical needs. 

 

• Are any family members at risk for a critical illness? 

 

This is an important question to ask as it will help you decide if you need to buy a critical illness insurance add-on with the medical insurance plan. This add-on helps one with a lump sum payment in case of diagnosis of a serious, life-threatening illness. As many may be aware, such illnesses are often genetic in nature. A dive into the family histories of yourself, your spouse, and that of respective parents, can help you determine if you may be at a genetic risk or not. Alternatively, you can also check if any family members lead a lifestyle that puts them at risk for critical illnesses as, in many cases, the causes can be environmental as well. 

1. Do any of your family members suffer from any condition that exposes them to extended hospitalisation? 

Some illnesses may not be severe in their intensity but may require the patient to be admitted for a long time at the hospital. While your Mediclaim policy can help cover the basic hospitalisation cost in such cases, other out-of-pocket expenses that are to be paid by you may go a bit high. Do ask questions and check if any of the family members you plan to carry within the plan are at risk for any such illness. If there indeed are, you may be better off with purchasing a daily hospital cash add-on. This add-on allows you a particular amount of money, up to a maximum of Rs 5,000, on a daily basis.  This amount can be used to cover the aforementioned out-of-pocket expenses or even to provide a personal assistant to take care of the patient. Essentially, it can be used for any purposes as the policyholder wishes. 

Getting the answers to these questions may take a bit of time but it will prove fruitful in the long run. Armed with the right information, you will be able to purchase the right one out of the many health insurance plans for family coverage available out there.