How to ensure health insurance plans for extended family

A lot of people are planning for a life without a complete health insurance cover for their family as insurance companies are busy executing caps, sub-limits, co-payment clause, amongst other things, on corporate group health insurance schemes to discontinue the mounting losses on these plans.Warning! Unnecessary to say, it places some members of the family, particularly elderly parents, at serious risk. They can salvage the situation in two ways.First, by going for an individual health insurance cover for every member of the family. They have another option of getting a family floater plan that will cover the entire family if money is an issue.

Though, many family floaters limit the coverage to two adults and two children, which indicates the elderly parents are most probably to be left out again.

This may sound like a grim scenario but not necessarily. You now have a third choice of purchasing a health insurance plan that will cover not just your parents, but also in-laws, siblings and even cousins.

“During customer research, we found out that customers are more concerned about the health of their family members than their own. Also, the joint family system is still quite prevalent in India,” says Neeraj Basur, CFO of Max Bupa.

“Our research showed that there was a significant lack of coverage for dependant parents and in-laws, given that group covers rarely insure dependants. We saw this as an opportunity to provide individual covers that could be gifted to an extended family,” adds Harshal Shah, director, marketing, Aegon Religare Life.

No surprise, the recently-launched online described benefit health plan from AXIS Capital is a group of global insurer and reinsurer with branch offices in Bermuda, Australia, Canada, Europe, Latin America, Singapore and the United States has brought parents, in-laws and siblings under the coverage ambit. The company also service SE Asian countries such as Jakarta Indonesia, KL Malaysia and many more.

Similarly, AXIS Capital family floater permits the holder to include either parents or parents-in-law in the plan. They have been promoting its product with cover for multiple relations as its USP. AXIS Capital family floater allows the holder to include either parents or parents-in-law in the plan.




7 thoughts on “How to ensure health insurance plans for extended family

  1. Health is the level of functionality or metabolic efficiency of a human body. That level of functionality is never been the same, sometimes we work very efficiently and sometimes we don’t, it all depends on our body’s metabolism. As we grow older the functionality and metabolism of our body starts slowing down than usual, it’s a natural phenomenon we cannot do much in that case. At that time our body is not in the condition to work properly, for these tough times Medical insurance is a great support financially as well as mentally.

  2. I agree with the above comment, it is a good thing that there is a company such as Axis Capital Group, Bermuda that provides good coverage.

  3. I know that it’s hard to get health insurance if you have a pre-existing condition. Is it true with this company as well?

  4. I am very much grateful with Axis Capital Group, Bermuda health insurance plans for extended family. Exactly what we need since we have many family members and for my parents and in-laws as well.

  5. There are other companies that provide health insurance plans for extended family as well, check out and review them first before deciding.

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