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Best Health Insurance Plans for Family

The health and well being of our family always take a priority over our own needs. That is the reason; most of us prefer to buy a family floater instead of individual covers. Getting a family floater saves you substantial money. Suppose there's a family of four, comprising of two adults and two children.

The premium paid if all the four members are covered under one family health plan stands much lower compared to when four separate policies are bought. There are other pros to family floaters apart from the cost factor. In a family floater, the immediate family members such as newlywed spouse and newborns can be covered without hassles just by informing the insurer.

The only glitch with a family floater is that the cover is fixed and if it is exhausted on the treatment of one member during the policy term, any other member would not be able to avail further benefits from the plan, till the end of the term. Only when the policy is renewed, the sum assured is reinstated afresh.

Top Health Insurance Plans for Family 2019:

Here are the best health insurance plans for family, for getting yourself and your family protected from any financial contingencies.

S. No.

Insurer

Product Name

Entry-Exit Age Cap

Sum Assured Limit

1.

Religare Health Insurance

Care Plan

For kids: 91 days – No upper limit

For Adults: 18 years – No upper limit

2 Lakh – 60 Lakh

2.

Max Bupa Health Insurance

Health Companion

No lower limit – No upper limit

2 Lakh – 50 Lakh

3.

Star Health Insurance

Family Health Optima

5 months – 65 years

1 Lakh– 15 Lakh

4.

The Oriental Insurance

Happy Family Floater

3 months – No upper limit

1 Lakh – 5 Lakh (Silver)

6 Lakh– 10 Lakh (Gold)

5.

Tata AIG Health Insurance

Wellsurance Family

6 months – 65 years

2 Lakh – 4 Lakh

Disclaimer: The ranking of the insurance companies in this content is not in any particular order. The list is not complied as per the IRDA ranking.

1. Religare Care Plan:

Religare Care Plan for family allows a recharge benefit equivalent to 100 percent of the sum insured. It is a comprehensive health insurance policy, which pays for all the medical expenses incurred by you due to any illness, accident or injury.

Coverage:

Hospitalization expenses, daily allowance, vaccination cover, ambulance expenses, pre-hospitalisation and post-hospitalisation medical expenses, annual health check-ups, no claims bonus, etc.

  • Alternative Treatments
  • Maternity Cover
  • Global Coverage
  • Domiciliary Hospitalisation
  • Care Anywhere
  • Personal Accident
  • OPD Care

Virtues:

  • Cashless treatment at more than 4100 network hospitals
  • Wide range of options for Sum Insured
  • The plan has a feature of reducing PED Wait period
  • Feature to avail discounts in Premium by selecting Longer Tenure options

Vices:

  • Exclusions: Within 30 days of the commencement of the policy, any diagnosis of illness, undergoing surgery, and occurrences of events, symptoms of which appear first. Use, abuse, or misuse of alcohol or drug, HIV treatment arising out of traceable childbirth and pregnancy, congenital diseases, IVF, fertility treatment, and hospitalisation due to war, strike, riot or nuclear weapons.

2. Max Bupa Heartbeat:

Max Bupa Heartbeat is a family oriented health insurance plan. This plan extinguishes itself with unique features such as inbuilt maternity and newborn benefits, no lower or upper cap on the entry age, and so forth. It is offered in three variants, silver, gold and platinum.

Coverage:

In-patient hospitalization expenses covered including surgical operations, nursing care, doctor’s fees, operation theatre charges, ICU charges, pathology, x-rays, diagnostic tests, prosthetic implants, etc.

  • Pre & post hospitalization expenses covered
  • All day care procedures covered
  • Organ donors expenses covered
  • Domiciliary treatment
  • Emergency ambulance expenses

Virtues:

  • Lifelong renewability
  • Maternity benefit (up to 2 deliveries)
  • Childcare benefit
  • Automatically covers a newborn
  • Outpatient benefits (for the platinum plan)
  • Increased sum insured on every claim free year
  • Covers up to 13 relationships under one single policy
  • Free health check-up every second year
  • No claim-based extra loading
  • 24x7 health advice helpline
  • Relationship manager assigned for claim facilitation (for gold and platinum plan)
  • Consultation and diagnostic tests (for gold and platinum plan)
  • No TPA. Fast and direct claim settlement

Vices:

  • Waiting periods - 90 days initial waiting period, before which no coverage is given (except in case of an accident or emergency). 4 years waiting period for pre-existing diseases. 2 years waiting period for specific diseases like cataract, hernia, renal stones etc.
  • Exclusions - Addictive conditions and disorders, circumcision, dental/oral treatment, congenital conditions, convalescence and rehabilitation, cosmetic surgery, nature cure, HIV, AIDS, non-allopathic treatment, psychiatric and psychosomatic conditions, out-patient treatment, self-inflicted injuries, treatments received outside India.
  • 20% co-payment of the claim amount

3. Star Health Family Optima:

Star Health Insurance is really the star of the health insurance sector especially when it comes to serving a niche to the hilt. Family Optima is a smart family floater with great features and benefits.

Coverage:

In-patient hospitalisation expenses including room rent, nursing charge, boarding charge, fees of the surgeon, anaesthetist, medical practitioner, cost of drugs and medicines

  • Pre and post hospitalization expenses
  • Ambulance charges

Virtues:

  • Automatic restoration of the basic sum insured (as soon as the cover is exhausted)
  • Bonus on the basic sum assured for every claim free year
  • No medical tests below 50 years of age
  • No TPA involved. Direct in-house claim settlement
  • 24x7 toll-free helpline
  • Cashless hospitalisation at +5400 network hospitals
  • Free telephonic medical consultation

Vices:

  • Waiting period – 4 years for pre-existing conditions. 30 days initial waiting period, before which no coverage is given. 2 years waiting period for specific diseases like cataract, knee replacement surgery and so forth. 1 year waiting period for specific diseases like a hernia, renal stones, etcetera
  • Exclusions - Non-allopathic treatment, expenses on purely diagnostic tests without any positive sign of a disease, war and nuclear perils, circumcision, congenital diseases.
  • 24 hrs hospitalisation limits are not applicable for 101 listed day care procedures

4. Oriental Insurance Happy Family Floater:

Happy Family Floater comes with such coverage and benefits that getting covered under this plan really is a reason for any family to be happy. It comes in two variants, silver and gold.

Coverage:

Hospitalisation expenses for the covered diseases/accident including room, boarding and nursing expenses, ICU expenses, fees of the surgeon, anaesthetist, medical practitioner, consultants, specialists fees, costs incurred on anesthesiology, blood, oxygen, pacemaker, artificial limbs, etcetera

  • Ambulance service charges
  • Domiciliary hospitalisation
  • Optional personal accident cover
  • Inbuilt cover - daily cash allowance and attendant allowance (Gold plan)
  • Add-on cover - life hardship survival benefit (Gold plan)

Virtues:

  • No medical examination for a person’s up to the age of 60 years.
  • Discount in OMP (Overseas Mediclaim Policy) premium when family floater policy is take
  • Discount in premium if TPA services not opted
  • Flexible sum assured
  • 5% discount on premium on every claim free year (up to a maximum of 20%)

Vices:

  • Waiting period - 4 years for pre-existing conditions
  • Regular exclusions
  • 5% loading charge on renewal
  • 10% compulsory co-pay (Silver plan)

5. Tata AIG Wellsurance Family:

Wellsurance Family is not a family floater plan. It is a family coverage plan. The difference between the two is that a family floater plan covers a family under a single sum assured while a family coverage plan covers each family member under independent sum assured. It comes in three variants, classic, supreme and elite.

Coverage:

  • Hospitalisation expenses
  • Post-hospitalization expenses
  • Covers 11 critical illnesses
  • Ambulance charges

Virtues:

  • Daily cash benefit
  • ICU benefit
  • Children’s education benefit (in case of death/disability of the policyholder)
  • Convalescence benefit
  • Cashless claim settlement across a 3000+ network of hospitals in India
  • Free telephonic consultation with expert physicians
  • Discounts at selected skin care and fitness centres
  • Discounts on health check-up at network hospitals
  • Double claim benefit – A claim can be filed even if the claim has already been filed under any other health insurance policy

Vices:

  • Waiting periods – 4 years for a pre-existing condition. 90 days for critical illness benefit. A general waiting period of 90 days before which no coverage is given.
  • Exclusions - Self-inflicted injury, HIV/AIDS, war, pregnancy and all related conditions, alcohol/drug abuse, Ayurvedic, homoeopathy or naturopathy treatments, etc.

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