Health insurance plans for family provides comprehensive coverage to your entire family against planned and emergency medical expenses on a floater sum insured basis. It covers you, your spouse, children, parents, parents-in-law, grandparents and other family members under a single policy. A family health insurance plan ensures the financial security of your family so that you can afford the best medical care today with the cashless everywhere facility and quick claim settlement.
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Family health insurance is a kind of medical insurance plan that covers all your family members in a single health insurance policy. Under a family 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, preventive health check-ups, ambulance cover, day care treatments and pre & post-hospitalization cover.
Take a look at some of the ideal family health insurance plans from different health insurance companies below:
Family Health Insurance Plans | Sum Insured (Rs) |
Key Benefits |
Aditya Birla Activ Health Platinum Plan | 2 lakh to 2 crore |
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Bajaj Allianz Health Guard Plan | 1.5 lakh to 1 crore |
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Care Health Insurance Plan | 1 lakh to 6 crore |
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Cholamandalam Healthline Insurance Plan | 1 lakh to 25 lakh |
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Digit Health Insurance Plan | 2 lakh to 3 crore |
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Future Generali Health Suraksha Plan | 50,000 to 10 lakh |
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HDFC ERGO Optima Secure Plan | 5 lakh to 2 crore |
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ICICI Lombard Elevate Plan | 5 lakh onwards |
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IFFCO Tokio Family Health Protector Plan | 1.5 lakh to 30 lakh |
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Liberty Secure Health Connect Plan | 2 lakh to 15 lakh |
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Magma HDI OneHealth Insurance Plan | 2 lakh to 3 crore |
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ManipalCigna ProHealth Insurance Plan | 2.5 lakh to 1 crore |
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National Parivar Mediclaim Plan (Floater) | 1 lakh to 10 lakh |
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New India Assurance Floater Mediclaim Plan | 2 lakh to 15 lakh |
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Niva Bupa Heartbeat Insurance Plan | 5 lakh to 1 crore |
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Oriental Happy Family Floater Policy | 1 lakh to 50 lakh |
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Raheja Health QuBE Insurance Plan | 1 lakh to 50 lakh |
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Reliance Health Infinity Plan | 3 lakh to 5 crore |
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Royal Sundaram Family Plus Plan | 2 lakh to 50 lakh |
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SBI Super Health Insurance Plan | 3 lakh to 2 crore |
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Star Family Health Optima Insurance Plan | 3 lakh to 25 lakh |
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Tata AIG MediCare Premier Plan | 5 lakh to 3 Crore |
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United India Family Medicare Plan | 3 lakh to 25 lakh |
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Universal Sompo Complete Healthcare Insurance Plan | 1 lakh to 50 lakh |
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Zuno (Formerly Edelweiss) Health Insurance Plan | 1 lakh to 1 crore |
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Zurich Kotak Health Care Plan | 2 lakh to 25 lakh |
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*Disclaimer: The list mentioned is according to the alphabetical order of the insurance companies. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in.
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One of the several benefits of buying family floater health insurance plans is that you can get coverage for all your family members under a single policy, irrespective of their ages. Here is a quick rundown of some other major benefits of buying a family health insurance plan:
Unlike individual health plans, family floater insurance covers all your family members in a single policy. It allows you to share a single sum insured with your spouse, children, parents and parents-in-law. Moreover, you do not have to take the hassle of buying and renewing separate mediclaim policies for all family members every year.
With family health plans, you and your family members can avail cashless treatment at any hospital of your choice, just like in individual health plans. The insurance company pays all the medical bills once the treatment is complete. In this way, you can ensure the best medical treatment for all your family members without the stress of paying the hospital bills or compromising on their treatment.
Anyone in your family can get sick without any warning. Besides, healthcare facilities are skyrocketing in India with the rising medical inflation. Having a health insurance policy for your entire family can keep you financially prepared for any medical emergencies faced by any family member. Besides, you will be able to afford quality treatment at the right time without exhausting your savings.
Family floater health plans are more affordable than individual health plans as they do not require you to pay separate premiums for all the family members. Even if you opt for a higher sum insured, the premiums will be more economical than buying individual health insurance plans for all family members. Thus, you can cover yourself, your spouse, children, parents and other family members under the same plan at an affordable premium. However, buying an individual health cover for your parents is advisable as their age-related health issues may increase your premium.
In family health insurance plans, you can add a new family member, like your spouse or newborn baby, easily on the payment of an extra premium. Unlike an individual cover, you do not need to take a fresh policy every time there is an addition to your family. However, if you plan to add your parents to an existing family health plan, make sure to increase your sum insured, as they may require regular medical attention.
Contrary to popular belief, corporate health insurance provided by employers is not enough to provide comprehensive coverage to your entire family. This is because the sum insured offered by most companies is not more than ₹5 lakh, which is insufficient to cover the whole family’s medical expenses in today’s day and age. Moreover, these policies are only available until you work for your employer. A separate family health plan ensures sufficient medical coverage for you and your family even after leaving your job.
You can buy Health insurance for Coronavirus to financially secure yourself and your family members against COVID-19. Although all insurance providers offer coronavirus treatment cover under regular health insurance plans, coronavirus-specific plans, such as ‘Corona Kavach policy’, are also available that cover coronavirus hospitalization costs on a floater sum insured basis.
Under Section 80D of the Income Tax Act, family health insurance premiums are given a tax exemption just like individual policy premiums. Thus, if you are paying the health insurance premium for your family and parents, then you can enjoy 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 your family, you must thoroughly read the policy documents in order to understand the policy exclusions in detail. Following are the medical expenses generally not covered by family health insurance plans in India:
Every family health insurance plan comes with eligibility criteria. Although the eligibility criteria may vary from one plan to another, the following table shows the common eligibility criteria for family health insurance plans in India:
Categories | Specifications |
Minimum Entry Age | Adult – 18 years Children – 90 days |
Maximum Entry Age | Adult – No age limit* Children – 25 years |
Family Members Covered | Self, spouse, dependent children, dependent parents and parents-in-law |
Renewability | Lifetime |
*As per the latest IRDAI guidelines, the maximum entry age reference of 65 years for health insurance plans has been removed.
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C apply.
There are certain key points that you must know before you buy a family health insurance plan. These points are given below:
Check out the key differences between an individual health insurance plan and a family health insurance plan:
Categories | Individual Health Insurance | Family Health Insurance |
Scope of Coverage | It provides coverage for only one person under one policy. Separate policies have to be purchased to cover different family members. | It covers all the members of a family under a single policy. |
Sum Insured | Only one person can use the entire sum insured. | All insured family members can share a single sum insured on a floater basis. |
Premiums | It can be expensive as separate policies have to bought for each family member. | It is more affordable than buying individual plans from each family member. |
Coverage Offered | It offers extensive coverage to individuals as they have their own sum insured. | The coverage may be limited as all family members share a common sum insured. |
Ease in Renewal | Renewing multiple individual health policies for each family member can be a hassle, as you have to remember the renewal dates for all plans. | Renewing a family health plan is hassle-free, as you have to remember the renewal date of only one policy to ensure coverage for your entire family. |
Focus | In case of individual health insurance plans, people should focus more on the coverage available. | In case of family health insurance plans, people should focus more on the sum insured. |
Ideal For | It is ideal for senior citizens who need the entire sum insured for their age-related issues. | It is ideal for families with all members below 60 years as they are less likely to raise claims regularly. |
Here are a few important points that you must consider while choosing a good 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 provide coverage for day care expenses, in-hospitalization expenses, ambulance charges, pre & post-hospitalization expenses, etc. Moreover, some plans also cover maternity expenses, non-medical expenses and preventive health check-ups. Opt for a plan that appropriately covers your family’s health needs within your budget.
Most health insurance plans for families offer the restoration benefit that recharges the sum insured by 100% before renewals on partial or complete exhaustion. While some plans allow unlimited restoration during a policy year, others may restore it only once a year. Moreover, the restoration benefit may or may not be available for claims arising from the same illness. Hence, you must choose a family plan that offers unlimited restoration of the sum insured for unrelated and same illnesses during the policy year.
As per the latest guidelines by the Insurance Regulatory & Development Authority of India (IRDAI), pre-existing diseases are covered by health insurance plans after a maximum waiting period of 3 years. However, some family health plans also offer PED coverage from day 1 for some listed diseases. Therefore, you must pick a health plan that covers the pre-existing diseases of your family members after a minimal waiting period.
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 by up to 100% if you do not raise a claim in the previous policy years.
All health insurance companies in India offer cashless hospitalization facilities at their network hospitals. But with cashless everywhere benefit, you can avail cashless treatment at any hospital of your choice across India. This makes the hospitalization process seamless and hassle-free. Thus, you must go ahead with a family mediclaim policy with the cashless everywhere benefit.
Every family health insurance plan may have different eligibility and entry age criteria. Before buying a family plan, check the eligibility criteria to ensure coverage for all your family members. Moreover, you should opt for a family health 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 provides a quick claim settlement while approving cashless claims within a few hours. Moreover, check if the customer support team of the insurer is available 24x7 for claim assistance so that you can reach them out whenever a medical emergency strikes.
Take a 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 do not need to fill out 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 to help you choose the ideal plan within your budget.
As the world has become more digitized, people prefer online payment over cash or cheques to reduce the risk of fraud. Digital payment options, such as debit cards, net banking, credit cards, wallets, 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. Instead, your policy will be issued within a few hours when you purchase it online.
Policybazaar Insurance Broker Private Limited allows you to compare multiple family health insurance plans online to buy the ideal 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 the toll-free number at 1800-208-8787 or by sending an email to care@policybazaar.com
You can file a claim under your family health insurance policy in two ways - cashless claims and reimbursement claims. The procedure for both types of claims is given below:
The following documents must be submitted to raise a family health insurance reimbursement claim:
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 the restore benefit, your sum insured will be restored by 100% upon exhaustion.
Ans: You can add your family members to your existing family health insurance policy at the time of renewal. However, you cannot add dependents in the middle of the policy, except for a newborn baby. Moreover, you may have to pay an additional premium to add family members to your ongoing policy.
Ans: Yes, we strongly recommend you to buy a standalone health policy, even if you are covered in a corporate health policy. This is because the coverage under your corporate 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 your own business, your corporate insurance policy will cease to exist for you. As a result, you and your family will be left stranded if a medical emergency arises and you have no other health policy to fall back on.
Therefore, you must buy a separate family health insurance policy so that it can come to your rescue in such situations.
Ans: Yes, if the primary insured dies or reaches the maximum age of renewability, the other adult insured members 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 plan is any day better than buying an individual policy. A family health policy 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. Besides, it will be a hassle to remember the renewal dates of multiple health plans and renew them on time.
Yes. All health insurance companies in India provide cashless hospitalization facilities under family health insurance plans. In fact, you can avail cashless treatment at any hospital of your choice with the cashless everywhere facility.
Yes. A family health insurance policy may come with several waiting periods, depending on the plan. Take a look at some of them below:
Most family health insurance plans provide coverage to dependent children up to the age of 25 years. Once the child attains the exit age, he will have to be added to your family policy as an adult member on payment of an extra premium. However, the exit age may vary from one plan to another. Moreover, if your child gets married or starts earning before turning 25 years old, he/she will not be eligible for the cover.
Health insurance for families provides medical coverage to the entire family under a single policy. Known as family health insurance, it covers all the members of the family with a single sum insured on a floater basis. Most of these plans provide coverage for self, spouse, dependent children and dependent parents. However, some family health plans may also extend coverage to parents-in-law, grandparents, siblings, nephews and nieces.
Family floater health insurance plans cover all the members of a family under a single sum insured amount. In this policy, the same sum insured amount is shared by all the family members on a floater sum insured basis.
Most insurance companies offer family health insurance plans to people between the ages of 18 years and 65 years. But with latest IRDAI guidelines, family health plans will also be available to people beyond 65 years. Most insurers also cover children between 91 days to 25 years under these family plans.
Yes. All family health insurance plans cover pre-existing conditions but after a waiting period of up to 3 years. However, several health plans now offer PED coverage for listed diseases from day 1 of the policy.
Your family health insurance plan will pay for your maternity expenses only if it offers a maternity benefit. Most insurers provide maternity benefits as a rider or optional cover if not built into the policy.
No single insurance company is good for everyone who wants to buy a family health insurance policy. All health insurance companies offer various family health plans that vary in terms of coverage and benefits. Since every family has different health needs, no single policy perfectly fits everyone. Hence, you must compare various family floater health insurance plans online on Policybazaar.com to find the most suitable plan for your family’s needs.
The cost of family health insurance in India for a family of four can cost you anywhere between ₹7,000 to ₹50,000, depending on the sum insured, city of residence, age and medical history of the family members.
You can purchase a health insurance policy for your family by visiting the website of the insurance company or getting in touch with their customer support team. Alternatively, you can buy a family health insurance plan online on Policybazaar.com by comparing different plans and paying premiums for the plan that suits your family.
The average cost of health insurance for family of 4 is ₹7,000 to ₹50,000 per year, depending on the age of the family members, their medical history, the policy sum insured, and the city of residence.
Family health insurance plans prices range from ₹630 to ₹4100 per month. However, the cost may vary from one plan to another based on the sum insured, age of the family members, city of residence and health condition of all the family members to be covered.
To increase the coverage of your family health insurance policy at the lowest price, compare different plans online on Policybazaar.com. You can analyze your current plan and check for plans that offer higher coverage for the lowest premium. You can also opt for voluntary deductibles and discounts to lower your premiums.
The cost of family health insurance for self-employed may range from ₹20,000 to ₹75,000 per annum. However, the price may differ from plan to plan depending on the age of the family members to be insured, their health conditions, city of residence, sum insured amount, etc.
Middle-class families must go for a health insurance policy that covers the entire family for an affordable premium. They should go for plans that offer essential coverage, such as hospitalization expenses, ambulance charges, consumables covers, day care procedures, etc., without attracting a high premium. Moreover, they should opt for plans with restoration benefits and renewal benefits, including no claim bonus and wellness/fitness discounts.
The cost of ₹10 lakh health insurance for a family of 4 ranges from ₹10,000 to ₹40,000 per annum. However, the price may vary as per the age, city and medical condition of the family members to be insured.
No. Considering the rising medical inflation in India, especially in metro cities, healthcare facilities are touching the sky. For instance, the average cost of a heart surgery in India ranges from ₹60,000 to ₹8,00,000, depending on the type of surgery and several other factors. A small sum insured of ₹2 lakh will be insufficient to cover a single family member, let alone the entire family. Therefore, families should opt for a health insurance policy of at least ₹30 lakh in tier-1 cities, ₹20 lakh in tier-2 and ₹10 lakh in tier-3 cities.
The maximum mediclaim limit for a family health insurance plan is up to the sum insured limit. However, some family plans may come with sub-limits, restricting the coverage for up to a fixed percentage of the sum insured. Hence, you are advised to check the maximum mediclaim limit by going through the policy documents issued by your insurer.
You can choose a family health insurance plan in India by keeping the following things in mind:
No single family health policy of ₹1 crore is suitable for all families across India. The health needs of all families vary and the same plan may not be ideal for everyone. However, the most suitable ₹1 crore health insurance policy for a family is the one that offers extensive coverage for all the health needs of the family for an affordable premium.
The best health insurance plan for a family is the one that offers comprehensive coverage at affordable premiums and has a wide range of network hospitals where cashless treatments can be availed. Thus, you are advised to compare multiple health insurance plans online on Policybazaar.com to find the best cashless health insurance plans for your family.
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Read more*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. Policybazaar does not provide any medical or surgical advice or diagnosis and is not responsible for your interactions / treatment by a medical practitioner/hospital. Please consult a registered medical practitioner for any medical or surgical advice. The Information that you obtain or receive from Policybazaar, and its employees, or otherwise on the Website is for informational purposes only. As per the Insurance guidelines, you are allowed to cancel the policy with-in 30 days from the date of Issuance of policy.This option is available incase of policies with a term of one year or more.
*All the health insurance plans cover hospitalization expenses including COVID-19 treatment cover up to the specified limits. You can also buy specific COVID-19 health insurance policies such as Corona Kavach Policy and Corona Rakshak policy.
**All savings and online discounts are provided by insurers as per IRDAI approved insurance plans. #Tax Benefits are subject to changes in tax laws. GST Exemptions depend on fulfilment of qualification criteria and submission of relevant documents.
*₹1748/month is the starting price for a 1 crore health insurance for an 18-year-old male, with no pre-existing diseases. Discount on renewal premium is subject to the number of wellness points earned in the health insurance policy. For more details about the plans, please read the sale brochure carefully to get upto 100% discount on renewal premium.
*₹400/month is the starting price for ₹ 5 lakh Health insurance for a 30 year old male & 29 years old female, living in Delhi with no pre-existing diseases
*₹541/month is the starting price for ₹ 10 lakh Health insurance for a 30 year old male & 29 years old female, living in Delhi with no pre-existing diseases
*₹762/month is the starting price for ₹ 1 Crore Health insurance for a 30 year old male & 29 years old female, living in Delhi with no pre-existing diseases
*₹243/month(₹ 8/day) is the starting price for a 5 lakh health insurance for a 20-year-old male, non-smoker, living in Bengaluru with no pre-existing diseases
*₹2020/month is the starting price for ₹ 1 Cr Health insurance for a 50 year old male & 50 years old female, living in Bangalore with no pre-existing diseases rounded off to nearest 10.
*₹390/month (₹13 per day) is starting price for 1 cr. Health insurance for 25 years old male, with pre-existing diseases, residing from tier 1 city rounded off to the nearest 10.
*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.
*The values taken for effective cost calculation are indicative values and may change as per the selected plan.
*Coverage upto double the amount of Sum Insured is available on certain covers for a minimum plan of Rs. 5 Lakh on the first claim only to an individual of upto 45 years of age with no pre-existing diseases. The benefit is available with or without extra cost depending on the plan chosen.
*Coverage of pre-existing diseases is provided by insurer as per their underwriting policy.
*The scope of coverage may vary from plan to plan.
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Tax Benefits are subject to changes in tax laws. GST Exemption depends on fulfilment of qualification criteria and submission of relevant documents as required by the insurers. For more details on risk factors, terms and conditions, please read the sales brochure and applicable rules and regulation carefully before concluding a sale.
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