The financial security of your family is essential to afford medical care today. Family health insurance provides coverage to your entire family against medical expenses incurred during an emergency on an individual or floater sum insured basis. Policybazaar.com offers a variety of family health insurance plans with impressive benefits, a large network of cashless hospitals and quick claim settlement.
A family health insurance plan is a kind of medical insurance that covers all your family members in a single health insurance policy. Under this plan, a fixed sum insured is shared by all family members with an assumption that not everyone will get sick at the same time. Most family health insurance plans offer cashless hospitalization facilities, maternity benefits and cover pre & post hospitalization as well.
To make it easier for you to buy a mediclaim policy for your family at Policybazaar.com, we have listed some of the best family health insurance plans from top health insurance companies in India below. Take a look:
|Family Health Insurance Plans||Sum Insured
|Aditya Birla Activ Health Platinum Plan||2 lakh to 2 crore||
|Bajaj Allianz Health Guard Plan||1.5 lakh to 1 crore||
|Care Health Insurance Plan||5 lakh to 6 crore||
|Cholamandalam Healthline Insurance Plan||2 lakh to 25 lakh||
|Digit Health Insurance Plan||2 lakh to 3 crore||
|Future Generali Health Suraksha Plan||50,000 to 10 lakh||
|HDFC ERGO my:health Suraksha Plan||1 lakh to 5 crore||
|IFFCO Tokio Family Health Protector Plan||1.5 lakh to 30 lakh||
|Kotak Mahindra Health Care Plan||2 lakh to 25 lakh||
|Liberty Secure Health Connect Plan||2 lakh to 15 lakh||
|Magma HDI OneHealth Insurance Plan||2 lakh to 1 crore||
|ManipalCigna ProHealth Insurance Plan||2.5 lakh to 1 crore||
|National Parivar Mediclaim Plan (Floater)||1 lakh to 10 lakh||
|New India Assurance Floater Mediclaim Plan||2 lakh to 15 lakh||
|Niva Bupa (Formerly known as Max Bupa) Heartbeat Health Insurance Plan||5 lakh to 1 crore||
|Oriental Happy Family Floater Policy||2 lakh to 20 lakh||
|Raheja Health QuBE Insurance Plan||1 lakh to 50 lakh||
|Reliance Health Infinity Plan||3 lakh to 5 crore||
|Royal Sundaram Family Plus Plan||2 lakh to 50 lakh||
|SBI Super Health Insurance Plan||3 lakh to 2 crore||
|Star Family Health Optima Insurance Plan||3 lakh to 25 lakh||
|Tata AIG MediCare Premier Plan||5 lakh to 50 lakh||
|United India Family Medicare Plan||3 lakh to 25 lakh||
|Universal Sompo Complete Healthcare Insurance Plan||1 lakh to 50 lakh||
|Zuno (Formerly Edelweiss) Health Insurance Plan||1 lakh to 1 crore||
Disclaimer: *Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
There are several benefits that the insured family members can avail with family floater health insurance plans. For instance, you can get coverage for all the family members, irrespective of their age, under a single policy. Here is a quick rundown of the major benefits of buying a family health insurance plan:
In case of hospitalization, the insured family member can avail cashless treatment in a network hospital of the insurer just like in individual health plans. In this way, you can get all your family members eligible to get medical attention without compromising on their treatment.
Several health insurance companies allow people to include both parents and parent-in-law under a family health plan for no additional premium. You can secure the health of your parents and your spouse’s parents under one plan.
As family health insurance plans do not require you to pay individual premiums for all the family members, you can cover your spouse, child, and parents under the same plan at an affordable premium. However, it is suggested to buy individual health cover for your parents considering their age-related health issues.
In family health insurance plans, you can add a new family member easily on the payment of an extra premium. Unlike an individual cover, you don’t need to take a fresh policy every time there is an addition to your family. If you add your parents to an existing family health insurance plan, make sure to increase your sum insured.
You can buy Health insurance for Coronavirus to financially secure yourself and your family members against COVID-19. Although all insurance providers are offering coronavirus treatment cover under basic health insurance plans, coronavirus-specific plan ‘Corona Kavach policy’ has also been launched that covers hospitalization costs incurred on the treatment of coronavirus on a floater basis.
Various add-on benefits are available under family health plans, including critical illness cover, maternity cover, etc. . Remember to read the policy terms carefully to know about any waiting periods applicable to any add-on covers before buying the best health insurance plan for your family.
Under Section 80D of the Income Tax Act, the health insurance premium is given a tax exemption. If you are paying the health insurance premium for your family and parents, then you are eligible for tax benefits.
Take a look at the most common coverage available under family health insurance plans:
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C apply.
PS - The starting price is indicative and may vary basis additional details.
When buying health insurance for family, you must thoroughly read the policy documents in order to understand the policy exclusions in detail. Also, check the waiting periods under the policy. Following medical expenses are generally not covered by family health insurance plans in India:
Every family health insurance plan comes with eligibility criteria. Although the eligibility criteria vary from one plan to another, the following table shows the common eligibility criteria for family health insurance plans in India:
|Minimum Entry Age||Adult – 18 years
Children – 90 days
|Maximum Entry Age||Adult – 65 years
Children – 25 years
|Family Members Covered||Self, spouse, dependent children, dependent parents and parents-in-law|
There are certain key points about family health insurance plans that you must know before you decide to buy the plan. These points are given below:
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C apply.
There are a plethora of family mediclaim policies in India, which makes choosing the best plan a difficult task. You can save your time by comparing the quotes of different family health insurance plans online at websites like Policybazaar.com. Let’s look at some of the reasons why you should consider buying a family health insurance plan online:
Buying a health insurance plan for your family online is a convenient process. You can easily compare various plans or get expert advice anytime, anywhere. Besides, you don’t need to fill up multiple forms at the time of buying the plan or stand in a queue to submit them.
The process of buying family health insurance is very quick as you can get quotes from different insurance companies instantly. The quotes can be compared with each other to help you choose the best plan within your budget.
As the world has turned digital, people prefer online payment over cash or cheque to reduce the risk of fraud. Digital payment options, such as debit cards, net banking, credit cards, etc. with safe payment gateways are available when the family health plan is purchased online.
Gone are the days when you had to wait for weeks to get your policy document. Your policy will be issued almost instantly when you purchase it online.
Once you have purchased a family health insurance plan, you can easily access your policy documents and avail after-sales services online or by downloading the mobile application. You can also raise a health insurance claim online.
Here are a few important points that you must consider before buying a health insurance plan for your family:
Before buying a family health insurance plan, it is important to check the coverage offered under the plan. Almost all family health plans offer coverage for day care expenses, in-hospitalization expenses, ambulance charges, pre & post-hospitalization expenses, etc. Opt for a plan that appropriately covers your family health needs within your budget.
The cost of medical facilities keeps increasing due to inflation. Thus, you must opt for a plan that comes with an option to enhance your sum insured during renewals. Several insurers offer cumulative bonus benefit that increases your sum insured amount up to 100% if you do not raise a claim in the previous policy years.
All health insurance companies in India offers cashless hospitalization facilities at their network hospitals. This makes the hospitalization process seamless and hassle-free. However, it is imperative to crosscheck the cashless hospital list before buying the plan to ensure that good hospitals near your house are included.
A few health insurance companies in India offer family health policy renewal options until the eldest family member turns 60/65 years old. However, you should opt for a family health insurance plan that comes with a lifelong policy renewal facility.
Before buying any health insurance plan for your family, make sure to check and understand the insurance company's claim settlement process. Opt for a plan that follows a quick claim settlement procedure. Many companies these days also offer cashless hospitalization facilities that are hassle-free.
You can file a health insurance claim in two ways - cashless claim and reimbursement claim. The procedure for both types of claims are given below:
If you want to buy a health insurance plan to cover all your family members, you can easily buy it online on Policybazaar Insurance Broker Private Limited. They allow you to compare multiple family health insurance plans online to buy the best one within your budget. Follow the steps given below to buy a family health insurance plan online from Policybazaar.com:
In case of any query, you can reach out to insurance experts at Policybazaar.com by calling on the toll-free number at 1800-208-8787 or by sending an email to firstname.lastname@example.org
Ans: Under family floater health insurance, all the insured family members share a fixed sum insured amount. The sum insured amount gets depleted every time a family member avails medical services and files a claim. If the amount gets exhausted on one or more members’ claims during the policy term, none of the family members would be able to make a claim till the policy is renewed at the end of the term. However, if you have opted for restore benefit, your sum insured will be restored by 100% upon exhaustion.
Ans: The following documents are required to be submitted to raise a family health insurance claim:
You can check the complete list of documents by referring to your policy document.
Ans: You can add your family members to your existing family health insurance policy at the time of renewal. However, you can’t add dependents in the middle of the policy, except for a newborn baby. You may have to pay an additional premium to add family members to your policy.
Ans: Yes, we strongly recommend you to buy a standalone health policy, even if you are covered in a corporate health policy. The coverage under the policy may not be enough for your entire family. Besides, your employer will cover your medical costs only as long as you are working in that organization. When you change a job, retire or start something on your own, corporate insurance will cease to exist for you. You and your family will be stranded if a medical emergency arises and you have no other health policy to fall back on. At this point, a separate health insurance policy will come to your rescue.
Ans: Yes, if the primary insured dies or reaches the maximum age of renewability, the other adult member in the policy can continue with the policy and enjoy the continuity benefit. However, they need to inform the insurer to change the proposer of the policy.
If you need health insurance for your entire family, buying a family health insurance plan is any day better than buying an individual policy. A health insurance policy for family will cover all the members of your family for a single sum insured and only a single premium needs to be paid to the insurance company.
On the flip side, an individual health plan covers only one person. So, you will need to buy a separate health plan for each family member with a different premium. The combined premium for multiple individual policies will be significantly higher than that of a family health plan.
Yes. All health insurance companies in India provide cashless hospitalization facilities under family health insurance plans. You can check the list of cashless hospitals for your insurer on the website of Policybazaar.com or the insurance company.
Yes. A family health insurance policy may come with several waiting periods depending on the plan. Take a look at them below:
Most family health insurance plans provide coverage to dependent children up to the age of 25 years. The exit age may vary from one plan to another. Moreover, if the child gets married or starts earning before 25 years of age, he/she will not be eligible for the cover.
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*We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881. Product information is authentic and solely based on the information received from the Insurer. Policybazaar is acting only as a facilitator and claims settlement shall be at the sole discretion of the Insurer. As per the Insurance guidelines, you are allowed to cancel the policy with-in 15 days from the date of Issuance of policy. For more details, please read the Plan Brochure carefully or talk to our advisor at the time of purchase.
**All savings and online discounts are provided by insurers as per IRDAI approved insurance plans. #Tax Benefits are subject to changes in tax laws.
##On ground claim assistance is available in 114 cities
~No medical tests are required unless requested by the insurer’s underwriter. In-case of pre-existing diseases relevant medical proof would be required as per the terms and condition of the policy opted.
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