When it comes to family, its health care and medical needs hold utmost importance. Yet, every family and its members have a unique set of healthcare requirements. Thus, when selecting the right family health insurance plans, you must pay attention to several factors, including the size of the family and its medical status. Read on to find out which type of family health insurance plan is suitable for your type of household and how much coverage is adequate while buying a plan.

How Much Coverage Should You Choose Under a Family Cover?

The coverage amount depends on various factors, including the number of members to be insured, their gender and age brackets, health conditions, family’s budget, and the medical needs of every member. Also, your place of residence, your family’s annual income, and the medical facilities available in your vicinity determine the premium amount you pay toward health insurance.

Thus, to estimate the coverage amount, take these factors into account while keeping a check on medical inflation. For instance, if you have a nuclear family with 2 young children, choosing a 5-lakh coverage will help you cover minor medical emergencies.

Family Coverage Ideal for Your Family Type

Have a different family size? Learn which family health insurance plan will best suit your family with the help of the following categories:

If You have Dependent Young Children

This is the most common type of family. A nuclear family with young children generally has the eldest member’s age between 30 to 40 years. Such a young family is unlikely to face any major health emergencies unless the members are dealing with any hereditary condition or following an extreme lifestyle.

A small family like this should consider opting for a 5 or 10-lakh family floater plan that covers all the members under a common sum insured and premium. This will help the parents in maintaining the health budget while avoiding multiple policies for all members. In the initial years,  the family can earn a no-claim bonus as a reward for not raising any claims in a given policy year.

If You are a Young Couple

As a newly married couple, you are just starting to realise your financial and household responsibilities. As the first step, it is important to secure adequate medical funds for yourself and your spouse. Also, as an early bird, you can avail of special discounts while under the age of 35 years– offered by certain health insurers like Care Health Insurance. While a minimum cover of 5-lakh is sufficient for a young couple, you should consider enhancing it with an optional maternity benefit if you plan for future family expansion.

If You have Dependent Parents

Sharing the responsibility of elderly parents is more difficult than it may appear. Especially if your parents are above 60 years of age, their medical expenditure increases every year. Research reveals that most senior citizens carry certain chronic diseases with them in their golden years.

Therefore, it is advisable to buy a separate health cover for your senior citizen parents. This will help them have the entire sum insured to themselves without sharing it with other family members. Also, you can customise senior citizen insurance as per the medical needs of your elders.

If You have a Big Family

A large family has members of different and contrasting age groups. While there are toddlers to look after, your grandparents, too, need medical attention. That’s why people with a big family should consider buying a standard medical cover with over 25 lakh coverage. These days, there’s an upsurge in the demand for 1-crore health plans. These plans not only promise adequate funds for all the family members but also provide superior benefits.

Choosing the Right Family Floater Health Insurance

Finding the right health coverage for your family is the need of the hour. If you are looking for the right fit, do check Care Health Insurance. With several health plan offerings, Care Insurance promises adequate coverage and comprehensive benefits for families of all sizes and needs. With coverage up to 6 crores, the family floater plans by Care Health Insurance promise unique features like annual health check-ups, ambulance cover, COVID-19 coverage, and daily allowance. So, safeguard your family with the ideal health insurance without further delays.