Do not Include Adult Kids in Family Health Insurance Plans- Important Things to Consider

If you have a family, you must consider buying the best family health insurance plan for a couple of great reasons. It bears the expenses of yours, your wife and kids’ treatment if any one of you fell ill.

Usually, family health insurance plans cover every person in a family. But whether you should include your adult kids in it or not is the most underrated subject.

So that you could make a well-informed decision about your selected health insurance plans, this article intends to share some essential information with you.

Who Should Purchase Family Health Insurance?

Suppose, unfortunately, you feel ill, and doctors are demanding Rs.5 Lakh for treatment. You are the only person in your family who earns a decent income and only has Rs. 2 Lakh savings.

At such events, your family members may go through some of the most frightful days of their lives as they want to save their loved ones, but they are short of required funds that continue to raise challenges for them.

To simply put, every family with small kids should consider purchasing the best family health insurance plan. Not everyone carries a surplus amount in their account. Hence, one must apply for the insurance policy as soon as possible. 

But in most instances, covering every family member in a single health insurance policy doesn’t make a wise decision. Especially for adult kids, this isn’t a good way to go.

Why Should Adult Kids Purchase a Separate Health Insurance Plan?

Here are a couple of good reasons why adult kids should consider purchasing separate health insurance plans rather than staying in a family plan-

Family Health Insurance Plan is subjected to the age factor

The family health insurance configures the eldest family-member age in a particular plan.  Suppose your and your wife’s age is around 60 and your kids are near 20- to 25-year-old. If you are purchasing a family health insurance plan, then definitely you are making a mistake. At such events, policies tend to terminate once the most senior member of the family crosses the maximum age.

1. The pre-existing disease may impact the premium

A family member with a pre-existed disease should be kept in an individual health plan as it may impact the premium for coverage. Usually, eldest family members are vulnerable to health conditions, so one must choose policies for adults separately.

3. NCB could be affected

NCB refers to the No Claim Bonus provided to those policyholders who don’t claim the amount within the agreed policy year. It means that you are more likely to receive the discount or added advantages from the insurance company at the time of renewal. But family health insurance may affect the NCB.

4. Reduced Coverage

Family health insurance plans with small coverage may also raise trouble. Suppose you have a coverage of Rs. 5 Lakh under your family health insurance policy. But unexpectedly, two or more people fell ill. It’s no surprise that you need more money for their treatment, and in such instances, your policy won’t be able to assist you anymore.

That’s why separate health insurance plans are ideal for adult kids.