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Family Health Insurance

A family health insurance plan is a form of effective health insurance cover that provides coverage to you and your family against all medical emergencies in return of single premium payment. With the same policy, you and your family will get assured coverage. A family health insurance plan generally provides coverage to the entire family under a single plan. While you have the freedom to insure your parents, there are some plans which also allows you to insure your parents-in-law. This plan will enable you to protect your entire family and live stress-free.

The family is the pillar of an individual's life. No matter how we suffer, but when it is about our family, we try our best to give our family complete protection against all the odds in the uncertain life. If one pillar gets attacked by some health problem, then your life is all upside down. That is why we want to be prepared to fight against the entire odd situation for the health of our family members. We all know that for the sake of our family, we can spend all our treasure of life and all our savings. But! After spending all that you have on your family how you will give them a better life and future? This is when one decides to buy a Family Health Insurance Policy.

Types Of Health Insurance

Buying individual covers for every member of the family need more money invested, and you have to file the premium for everyone differently. But in family Health Insurance Policy you have to pay a less premium amount, and it will save your money along with the safety of your family. You can even add some new member of the family like the newlywed spouse in the Family Health Insurance Policy very easily, just by informing the insurer. Family insurance will act as an umbrella that is enough to save and secure your family in the heavy rains.

Why Is Family Health Insurance Necessary?

The growing pollution, fast-paced life, consumption of toxic things, junk food is covering the entire country that results in unfavorable conditions such as, road accidents, contagious diseases, heart attacks, and diabetes and that too in young age, and many more things may result in any medical emergency.

Have you ever thought of your future-Are you prepared enough?

There is no doubt in saying that the increasing inflation rate in the healthcare industry is causing a lot of issues and can easily wipe off your entire saving. And for sure, you don't want that for your family. Taking care of your loved ones - spouse, parents, and children are the topmost priorities and cover their medical cost with the help of a family health insurance plan.

Types of Family Health Insurance Plans

A family health insurance plan has the capability of providing cover to the entire family under a single policy with a single premium. The family health insurance plan is divided into two parts:-

Medical Insurance

Medical Insurance provides coverage against the hospitalization expenses related to your treatment. Under the same, the person gets the required coverage in the form of cashless benefits or reimbursement.

Critical Illness Insurance Plan

This plan is specially designed in a way that can offer the required coverage against critical diseases such as heart attack, stroke, kidney failure, etc. However, companies do not provide this as a family health plan; you have to buy it as an additional cover.

Family Health Insurance Plans That You Can Consider

Several insurance companies provide the facility to the client to choose the family health insurance plans. You can choose after comparing various policies from PolicyX.com, and you can easily get the quote for the policy you are searching. Following are some insurance companies from which you can compare and buy the family health insurance plans for the safety of your family.

Family Floater Health Guard by Bajaj Allianz Health Insurance

It covers the family members from age 18 to 65 years, and as for the dependent children, it covers them from 3 months to 25 years.

Family Health Optima Insurance Plan by Star Health

It provides a safety cover with the facility of lifelong renewability to the policyholder. It even covers the pre and post hospitalization expenses of the clients.

Family Floater Mediclaim Policy by New India Assurance

This covers the dependent children of the family and the old people from age 3 months to 60 years under different policy plans and covers.

Smart Health Insurance by SBI General Insurance

It covers the hospitalization expense of the policyholder that cover the room expense, hospitalization fees, doctor consultation fees from age 3 months to 65 years.

Wellsurance Family Insurance Plan by Tata AIG

It a family coverage plan and it comes in three different variants to choose from such as classic plans, supreme plans, and the elite plans. The best part is, this plan provides a facility of double claim to the policyholder. That means if the policyholder has filed any claim in the other health insurance policy, even then he/she can file one more claim.

Heartbeat Health Insurance Plan by Max Bupa

This plan cover one of the unique features of the insurance policy, and that is it covers the inbuilt maternity, and it provides a cover for the newborn children. There is no upper or lower age group for availing the benefit of the Family Health Insurance

Top Family Health Insurance Plans in 2019

Company Plan Key Features/benefits Premium*
Bharti Axa Smart Health
  • Coverage for the pre-existing disease after 4 years
  • Higher sum assured
  • No co-pay
  • No limit on room rent
  • Wider coverage
Rs.12064
Apollo Munich Optima Restore
  • High sum assured for the entire family
  • No co-pay
  • No limit on room rent
  • Existing disease are covered after 3 years
Rs.15274
ManipalCigna Prohealth Plus
  • Single Private room
  • Free health checkup
  • Maternity cover
  • Wider coverage
  • Pre-existing diseases are covered
Rs.16063
Max Bupa Health Companion Family Floater Plan
  • Lifelong renewability
  • No claim bonus
  • Day care procedures are covered
  • Free health checkup
  • Non-allopathic treatment covered
Rs.13718
Oriental Insurance Happy Family Floater Silver
  • Domiciliary hospitalization
  • Allopathic treatment covered
  • Wider coverage
  • Lifelong renewability
  • Pre-existing disease covered
  • Affordable premium
Rs.9297
TATA AIG Mediprime
  • Domiciliary hospitalization
  • Free health checkup
  • Allopathic treatment covered
  • No co-pay
  • Wider coverage
  • Lifelong renewability
  • No room rent limit
  • Pre-existing disease covered
  • Affordable premium
Rs.15488
Star Health Family Optima
  • 100 percent restore benefit
  • Free health checkup
  • No co-pay
  • Lifetime renewal
  • No claim bonus
Rs.11055

Additional Family Health Plans

Religare Care Health Insurance

Being a comprehensive health insurance plan, Religare Care offers coverage for your medical expenses incurred due to an accident, illness or an injury. It also offers coverage for pre and post hospitalization expenses, day-care treatments, health check-up, etc. Some of the best features of Religare Care are daily allowance to meet incidental expenses, flexibility to lower the pre-existing diseases waiting period, non-increment of premium in case of filing a claim, etc.

HDFC Health Suraksha

HDFC ERGO has customized this plan keeping ‘the medical inflation’ in mind. The motive of this plan is to offer maximum coverage with a continuous and better medical treatment. The HDFC Health Suraksha Plan focuses mainly on ‘no limit for the entry age, no sub-limits on room-rent, option to add critical illness cover as well as the maternity cover. It also offers coverage for around 144 day care procedures. AYUSH benefits and wide range of sum insured are few other benefits that the HDFC Health Suraksha offers.

Insurance Company Family Health Plan Age Sum Assured Pre & Post Hospitalisation Pre-existing Diseases
Bajaj Allianz Health Insurance Family Floater Health Guard 18-65 years; 3 months-25 years as dependent children Minimum=2 lakhs; Maximum=10 lakhs Pre- Hospitalisation: 60 days; Post- Hospitalisation: 90days After a waiting period of 48 months
National Insurance company Family Health Optima insurance Plan 18-60 years; 3 months-25 years as dependent children; renewability upto 65 years of age Minimum= Rs 50, 000; Maximum=5 lakhs Pre- Hospitalisation: 30 days; Post- Hospitalisation: 60days After a waiting period of 48 months
New India Assurance Family Floater Mediclaim Policy 18-60 years; 3 months-18 years as dependent children; lifelong renewability Minimum=2 lakhs; Maximum=5 lakhs Pre- Hospitalisation: 30 days; Post- Hospitalisation: 60days After a waiting period of 48 months
United India Health Insurance Family Medicare Policy 18-80 years; 3 months-18 years as dependent children; lifelong renewability Minimum=1 lakh; Maximum=10 lakhs Pre- Hospitalisation: 30 days; Post- Hospitalisation: 60days subject to max upto 10% sum assured
Oriental Insurance Company Happy Family Floater Policy 18-65 years; lifelong renewability after 65 years of age Minimum=1 lakh; Maximum=10 lakhs Pre- Hospitalisation: 30 days; Post- Hospitalisation: 60days After a waiting period of 48 months of continuous renewal with the company
SBI General Insurance Smart Health Insurance 18-65 years; 3 months-22 years as dependent children Minimum=1 lakh; Maximum=5 lakhs Pre- Hospitalisation: 30 days; Post- Hospitalisation: 60days After a waiting period of 24 months

*(The above plans are for a family of four i.e., 2 adults+2 kids aged 30 years, 28 years, 5 years & 3 years respectively. Sum Assured is Rs 5 lakhs, with no pre-existing diseases).*

Importance of Family Health Insurance

A Family Health Insurance Policy covers all the members of the family against numerous disease and illness. The Family Health Insurance Policy is also called the Family Floater policy, and in it, the fixed sum is insured, which provide a cover for the complete family. The premium amount of the Family Health Insurance Policy is lower as compared to other insurance plans. Anyone who ages 18years to 65 years and resides in India can choose to buy a Family Health Insurance Policy. Family Health Insurance Policy covers up to 15 relationships, in general, that is to protect the complete family. One can compare and decide the best insurance plan for his or her family.

In the age of technology, no one has time for slow life, and even in terms of the insurance policy, no one can afford to visit door to door of the insurance providing companies as they are so many that it is not easy to check them online. PolicyX provides the customer easy access to the world of insurance policies. One can sit back at home and check every information about the Family Health Insurance Policy with his or her family and choose the policy that suits them best.

You cannot even compare the Family Health Plan from the best insurance companies, but also the premium rate can be compared on the PolicyX and can be bought easily and instantly. The customer can choose any plan that suits him or her. Different Family Insurances cover the different plots of life; one needs to read the terms and conditions very carefully. Some of the basic features covered under Family Health Insurance Policy are as follows:

  1. The Family Health Insurance Policy covers the hospitalization charges of the patient that combine of the consultation fees of the doctor, medical bills and even the room charge in the hospital.
  2. The cost of drugs and medicines of the policyholder are covered.
  3. Daycare for the whole day is provided for the policyholder.
  4. Any organ donation expenses for the policyholder is covered under the Family Health insurance Policy.
  5. Family Health Insurance Policy provides a facility of domiciliary hospitalization.
  6. If an ambulance is required in emergency, its expense is also covered.
  7. Some insurance companies also cover some of the critical illnesses, but it is not necessary. For example - Tata AIG Wellsurance Family Insurance cover 11 critical diseases.
  8. Most of the Family Health Insurance policies promise the lifelong renewal beyond the age of 65 years.
  9. A free look period of 15 days is offered to the policyholder from the date he or she get the receipt of the policy so that the client can take his or her time to review the terms and conditions of the policy one tend to buy. If the policyholder is having some doubts and there is a case of dissatisfaction, policyholder wants to cancel the policy he or she buy then the insurance company will offer the refund of the premium amount that is paid. But no free look cancellation policy is applicable if the policyholder wants that at the time of renewal.
  10. As per the section 80D of the Income Tax Act, the premium amount paid for the policy will be free of tax.

Eligibility for Family Health Insurance Plan

Entry Age for the Policyholder/Proposer under Family Health Insurance Plan

When it comes to family health insurance plan, the eldest member of the family become the policyholder, and he/she should between the age group of 18 to 65 years. But there are a few insurers as well that offers the policy up to the age of 70 years and above.

Entry Age for Family Members under Family Health Insurance Plan

For Adults: The minimum entry age is 18 years, and the maximum is 65 years, while some insurers also acknowledge a person of 70 years and above.

For Dependent Children: You can insure a baby of 90 days (this may vary, some insurers may allow it from 30 days and some may have different entry age) to 25 years.

Medical Tests under Family Health Insurance Plan

There are a few insurance companies that can ask you for medical tests. While there are a few companies which can entertain you without medical test upto 45 years.

Eligibility for Renewal of Family Health Insurance Plan

Most of the insurance companies are providing a lifelong renewal option. You need to renew the same on time to keep it active. After the due date of renewal, the insurer offers a grace period of 30 days. If you want to keep the policy in force, you must renew before the grace period ends or else the policy terminates.

Advantages of Family Floater Mediclaim Policy

The company is providing the online buying option through which you can save your time and hard earned money as well. With the online facility, you can buy the desired plan from the comfort of home and can clear your all queries as well. This option provides more ease and comfort to the clients.

Hassle-free coverage to the entire family

It reduces the task of selecting the individual health plan for each member of the family and manage the same. It reduces the need for paying the separate premium of health insurance for each member of the family separately.

Avail Discounts

Under the family floater plan, you can get discounts and incentives that plan usually offer. It is one of the easiest ways to secure the health of your family.

Add New Family Member Easily

In this medical plan, you can add a new family member easily. In case of the unfortunate death of the senior-most member of the family, other members can continue with the plan without losing any benefit. This is one of the most significant benefits of this plan.

Includes Parents and In-Laws too

Some insurers allow customers to add siblings and in-laws by paying a little extra cost.

Useful Features of Family Health Insurance

It comes with many helpful and attractive features such as coverage on maternity, newborn baby, etc. Everything is getting expensive with the income, as it goes on increasing day by day due to industrialization. And so is the cost of medical treatment, along with the number of diseases. Thus, the insurance providing companies increase and upgrade the facilities that offering to their customers along with that the amount of premium to be paid for the insurance policies.

Even when you are in the routine of updating and renewing your insurance policy time, and you have No Claim Bonus in your favor, few insurance companies provide the policyholder a bonus or reward by increasing his/her amount of the sum that is insured. So, one should be well aware of the terms and conditions and history of the company before he/she buy any insurance plan, so that they know the benefits provided by their insurance company.

Exclusions of Family Health Insurance Policy

Insurance Policies cover a vast range of needs of the common man. Still, few restrictions and exclusions remain for most of the Family Health Insurance policies. So, one needs to check the column and lists of the exclusions in their insurance policies. Some of the exclusions of the Family Health Insurance policy are as follows:

  1. Family Health Insurance Policy does not cover any health disease that is caused by excess intake of alcohol or drugs that are not prescribed by any doctor.
  2. Sexually Transmitted Diseases (STDs) like AIDS or HIV are excluded from the Family Health Insurance Policy.
  3. Any treatment for complications in pregnancy like infertility, abortion or miscarriage or any treatment related to childbirth is not covered under any Family Health Insurance Policy.
  4. Non-allopathic treatments are not reimbursed or assisted under the Family Health Insurance Policy.
  5. Any assistance for dental or oral treatment is not provided.
  6. Any reimburse for any loss or damage caused due to mental disorder is not entertained by the Family Health Insurance Policy.
  7. No diagnostic fees will be reimbursed if the policyholder has no positive sign for the disease, but he or she wants to undergo the medical tests.
  8. Any harm or loss caused because of any suicidal attempt of the policyholder is strictly excluded from the Family Health Insurance Policy.

What Is Covered Under a Family Health Insurance Plan?

Family health insurance is there to provide coverage of all expenses that occur out of in-patient hospitalization, pre-hospitalization, post-hospitalization, day care, health check-up, emergency ambulance service, etc. Let's see each in detail:

In-patient Hospitalization: All the medical expenses that take place because of hospitalization will be liable to get cover. If any of the insured family member is hospitalized for more than 24 hours, then the insurance company will pay all the medical expenses related to the same.

In-patient Hospitalization: All the medical expenses that take place because of hospitalization will be liable to get cover. If any of the insured family members is hospitalized for more than 24 hours, then the insurance company will pay all the medical expenses related to the same.

Pre-hospitalization Expenses: The insurance company will also pay for the expenses that occur before hospitalization are termed as pre-hospitalization expenses. For example, X-ray, MRI, blood test, urine tests, sonography results, etc. done before hospitalization are covered.

Post-hospitalization Expenses: Any medical expenses after getting discharged from the hospital would be liable to get cover. For example, medicines, or any medical tests done after the discharge to check the improvement.

Ambulance Charges: Most of the insurance companies offering family health insurance plan covers emergency ambulance charges. The amount of emergency ambulance charges varies from insurer to insurer.

Hospital Cash: The insurer offers a daily cash allowance. The same amount can be used for transportation or other basic requirements of the person attending the patient.

Restore Benefit: Several health insurance companies provide the restore benefit feature under a family health insurance plan. It assists in reinstating the basic plan cover in case the coverage gets exhausted.

Daycare Treatment: Daycare treatments which do not require 24 hours of hospitalization. For example, medical expenses related to cataract which can be treated within a few hours.

Claim Process of Family Health Insurance

Family Health Insurance Policy follows the same claim reimbursement process. But, you should not forget to check the terms and conditions of the claim process of the company they owe the health insurance policy. The Policyholder should understand the claim settlement process of the insurance policy and should check the settling of policy claim.

The policyholder can choose a company that provides the facility of cashless hospitalization in which there is no need of any hustle bustle and load of any documentation and other formalities as one have to do in the policy claim settlement and reimbursement. But one should make sure that even if their facility of cashless hospitalization, policyholder should check that if the hospitals listed in the policy are reputed or not. So, there are many insurance policies in the market, but you and your family deserve the best.

PolicyX.com will not only help you in comparison of policy, but you will get all information like discounts, benefits, claim reimbursements, new add-on information and attractive features . Moreover, PolicyX will represent you to the insurance company in every aspect and will help you to project your questions and doubts on every step. This is a promise that you will enjoy a hassle-free assistance and customer support of the PolicyX team whenever you need it without any delay.

Why Compare with PolicyX?

You may come across a lot of portals which are offering comparison services. But at PolicyX.com, what you get is unbiased advice to take care of your health related needs. Our database is linked with leading health insurers, which allow us to offer accurate quotes and features to you on a real time basis. You can complete your policy purchase on our portal by using different payment options such as credit, debit card or net banking. Please keep in mind that few policies may require medical tests for certain age groups before purchase. Our team of dedicated telesales executives will help you in the same so that you can undergo medical tests at your nearest location and can make a payment online for policy issuance.

  1. PolicyX.com is IRDA approved portal and thus follows the norms of IRDA for accurate and trustworthy comparison service.
  2. Comparison of individual health insurance policies at PolicyX.com is completely free of cost
  3. PolicyX.com provides plan comparison from leading brands such as Religare Health, Max Bupa, Bharti Axa, Tata AIG, Apollo Munich, Star Health, etc.
  4. Buy policies within minutes by filling up the online form. Most of our health plans are online and you can get your policy instantly by making an online payment.

Basic Health Cover For Family Floater

Almost all the expenses related to treatment or hospitalization are covered by the family mediclaim policy, but it is still vital to check the features of the plan and what it basically covers. You should check from when does the policy start covering the pre-existing diseases and check out the exclusions as well.

Is There Any Waiting Period in a Family Health Insurance Plan?

An Initial Waiting Period: It basically refers to the waiting period of 30 days that may vary from insurer to insurer. Some also have it of 90 days instead of 30 days of the policy issuance. However, any medical expenses that occurs because of accident will be covered from day one.

Specific Waiting Period: Almost every family health insurance plan offers a list of specified illnesses which would not be liable to get the coverage for initial 1 or 2 years of the policy which is popular by the name of waiting period. For example, arthritis, benign ear, nose, and throat disorders, cataract, hernia, kidney stone, etc.

Pre-existing waiting period: If any of the insured family member have any pre-existing disease such as hypertension, diabetes, any heart ailments or any other ailment at the time of purchase of family health insurance plan is not covered for a specific time period. They will get the required cover after the waiting period. The pre-existing waiting period may vary from 1 year to 4 years depending on the insurer. But, in most of the cases, the period for pre-existing diseases under a family floater plan is 4 years.

FAQ's

1. How to buy new family health insurance?

It is advisable to compare family health insurance online.For the same, you have to provide a few details of the family members that includes basic details, age and pre-existing disease, if any. Then you can compare plans on the basis of features, benefits, exclusions, bonus, etc. Once you finalize the plan, make the premium payment. After paying premium, you will receive digitally copy of your family health insurance policy.

2. How to renew family health insurance plan?

You can simply login to the insurance company's website and fill in your family health insurance policy details, and pay the premium. Once the premium is paid, you will receive digitally copy of renewed family floater policy.

3. What should be the minimum age to get into the family health insurance?

A baby of 90 days would be eligible to get the required cover.

4. Is it come out with lifetime renewal?

Not really, but there are a few plans that can offer the option of lifelong renewability.

5. Is it offer cover against OPD (Outpatient Department) Treatment?

No, family health insurance plan do not provide coverage for OPD treatment.

6. Can a hospital be changed during the treatment?

Yes. It’s feasible to shift to another hospital, if you need better medical procedure. This move is generally evaluated by the TPA on the basis of merits and policy regulations.

7. What are the basic benefits of Family health insurance plan?

  • Saves money
  • Restore benefit
  • Tax advantages
  • Medical cover for the whole family
  • Easily addition of new family member

8. Do these health policies offer any tax exemptions?

Yes. The Section 80D of Income Tax Act, 1961 permits one to avail tax deductions on the premiums paid up to INR 25,000 for medical insurance of your family. This includes self, spouse and dependent children.

For instance, if there is a senior citizen without a health insurance and is dependent upon their children, then the person who pays premium will be allowed tax deduction of up to Rs 50,000.

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