If you marry and have children, your current insurance will no longer cover them. In this instance, you will need to get a family health insurance plan to cover your dependents. Individual health insurance policies are often best suited for teenagers who do not have any dependent family members. However, as you become older and have additional obligations, you may realize that such a plan is insufficient. This is where family insurance policies come into play.

 

A family health insurance policy covers the entire family on an individual amount insured or floater basis, with the same sum insured shared by all family members. Family is the most essential thing in everyone’s life, and individuals will go to any length to defend it. Aside from meeting their material requirements, it is critical to protect them from medical problems with the help of a decent health insurance policy. MultiSphere provides a variety of health policies to keep your family protected in the case of an emergency. Our rapid disbursement and a large network of cashless hospitals ensure that you receive the best care whenever you require it.

 

If you are unable to afford a large health insurance policy for all of your family members, Family Floater policies are an option. A Family floater plan allows any member of the family to use the sum insured (coverage) after paying a single premium amount. The premium is usually calculated based on the age of the oldest family member. Such programmes are ideal for young families, particularly millennials with young children.

 

Hospitalization costs have skyrocketed since the pandemic, so acquiring comprehensive health insurance is critical to protecting the family. If the children are young, a health insurance plan of ten lakh rupees may suffice. The premium may vary depending on the insurer’s terms and circumstances. You may use a premium calculator to calculate your premium online and find out your policy premium in minutes.

 

Getting a health insurance policy online is becoming more popular since it is convenient, and calculating the premium payable is also quite simple with the health insurance premium calculator. Follow the steps outlined below to receive the premium amount in a matter of minutes!

• Go to the https://multisphere.in/pbhealth and select the Health option.

• Fill in the essential information such as name, age, gender, city, pin code, insured members, mobile number, and e-mail address.

• Select an Individual or Family Floater plan.

• Select the ‘Get Quote’ option.

• You will be transported to the sum insured page, where you may view several plans and their features like coverage, add-ons, and premiums.

• When you select the appropriate plan, you will be given a preliminary premium figure that must be paid to obtain insurance coverage.

The health insurance premium is the amount you must pay to the insurer regularly to continue receiving medical treatment and to keep the policy valid. The cost of the premium varies from policy to policy, however, some elements are considered while calculating the premium, such as:

The premium rises with age. This is since as we age, we become more susceptible to illnesses such as heart disease, kidney disorders, and so on, and the likelihood of filing claims due to a health issue increases.

The premium will be lower if you have no prior medical history. However, if you have any pre-existing conditions, your premium will be greater because you may require ongoing medical attention.

 

When calculating the premium, a person’s medical history is taken into account. If you or a member of your family has a pre-existing ailment, you will have to pay a higher premium.

 

The premium is also affected by the length of the policy. A one-year health insurance coverage will cost more than one with a longer-term.

 

A critical illness health insurance coverage will have a higher premium than a typical policy. Similarly, the premium for an individual policy will differ from the premium for a family floater.

 

NCB is a discount on your insurance premium that you will receive at the time of renewal if you do not make any claims throughout the tenure.

 

Riders are purchased on payment of additional health insurance premiums. The more riders you include in your policy, the higher will be the premium.

 

Family health insurance policies are perfect for people who want to ensure their complete family without having to purchase individual plans for each member. If you are a family of four and want to get a health policy with Rs 10 lakh coverage, you must utilize a family health insurance premium calculator to figure out how much it would cost. Just keep in mind that before purchasing a policy, you should compare several family health insurance policies online.