Instead of taking out individual insurance policies many people choose family insurance coverage as a lower cost way to obtain insurance cover for the entire family. For those who have more than one child it is a particularly good buy as premiums are generally the same for two, three or more children. Family insurance coverage can include family health cover and homeowner’s insurance which may cover mortgage payments in case the principal wage earner is unable to work through unemployment, disability or illness.
Adding Children to Employers Health Coverage
It can be very expensive to add a child to an existing health insurance plan offered by employers and you may well be better to take out out a additional family insurance cover, particularly if you have more than one child.
What is Included in Family Insurance Cover?
This type of cover normally provides routine annual medical examinations for any children under 16 (or 18 in some plans) and prenatal care. Some of the policies cover children until the age of 24 provided they are full time students. family insurance plans may also include hospital in patient care including operations, x-rays and lab tests etc. It is important to always check you know precisely what is covered by the plan. You may be able to select maternity coverage for all family members which may possibly be suitable for those with female children. While no one desires teenage pregnancy to take place it can happen and the family insurance can cover this.
Dental Coverage for the Family
A number of insurance policies include family dental coverage or you may perhaps have to to buy separate family dental insurance coverage. These policies differ in the type of cover offered and the age limit for any dependent children. Characteristically the amount of cover that you get is dependent on to the amount of the monthly payments.
Full Time Students
As shown above a lot of insurance plans include children above 18 provided they are in school full time. Insurance cover sometimes extend to twenty three or four. Check that the any campus medical facilities, local physicians, clinics or hospitals are willing to accept the family’s insurance and you would be best to provide the student with an insurance card before they leave for school.
What May Not Be Included
Family insurance coverage might not include some treatments common in childhood, replacement for glasses, allergy tests or braces. Consider the coverage provided by the policy under consideration and think about taking out a savings plan for anything that is covered by your family insurance.
Family insurance coverage may be a good buy for families with more than one child. Although there are some things not covered policies are usually very comprehensive and give good protection for the whole family, including, in many cases, full time students above the age of eighteen.