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Family Health Insurance

Family health insurance offers coverage to a whole family under a single insurance plan. This is one of the most common types of health insurance plans available in the Indian insurance market, that can be further customized as per your family's needs. Under a family floater mediclaim policy, one can include themselves, his/her spouse, dependent children, parents, parents-in-law, among others. With a family floater health insurance, you can be rest assured that expenses related to accidental injuries or illnesses (including COVID-19) are covered.

What is the importance of Family Floater Health Insurance?

The importance of having a mediclaim for a family can't be underestimated because of the following reasons:

Coverage To The Entire Family

Coverage To The Entire Family

Family health insurance is a one-stop health insurance solution for all your family members.

Affordable

Affordable

The premium payable for the family health insurance is cheaper than the premium payable for individual health plans. For example, you have a family of 4 members, and you want to buy health insurance for everyone. In such a case, buying an individual policy for each member would be costly than buying a family floater plan, covering the 4.

Additional Benefits

Additional Benefits

You can avail of additional benefits such as maternity benefit, new-born baby cover, critical illness cover, etc. depending on the policy's TnCs.

Hassle-Free

Hassle-Free

Having a mediclaim for a whole family under one plan reduces the tension of managing individual health policies.

Tax Benefits

Tax Benefits

One can avail of tax benefits under Section 80D of the Income Tax Act, 1961 by paying premiums of family health insurance.

Best Health Insurance Plans For Family in India 2020

Best Family Health Insurance Plans

With so many health insurance plans available in the market, it is important to do thorough research and then select the best one. Based on the coverage offered by the health insurance companies, below are the top 10 family health insurance plans in the market:

Company NamePlan NameClaim Settlement Ratio (2018-19)Maximum Sum Insured (Rs.)Waiting Period for Pre-existing Diseases
Care Health InsuranceCare Health Plan55%6 Crore48 months since the inception of the policy
Max BupaHealth Premia - Family Health Insurance Plan54%3 Crore24 months since the inception of the policy
Aditya BirlaActiv Health Platinum Plan59%2 CroreNA
Bharti AXASmart Super Health Insurance Plan89%1 Crore48 months since the inception of the policy
Bajaj AllianzFamily Floater Health Guard85%1 Crore36 months since the inception of the policy
HDFC ERGOOptima Restore Family Plan62%50 Lakhs36 months since the inception of the policy
SBI GeneralArogya Premier Plan52%30 Lakhs48 months since the inception of the policy
Star Health InsuranceStar Family Health Optima Plan63%25 Lakhs48 months since the inception of the policy
Chola MSFamily Healthline Insurance Plan35%25 Lakhs48 months since the inception of the policy
EdelweissFamily Health Floater Plan115%NA48 months since the inception of the policy (depending on the variant)

**Last Updated on 21-01-2021

  1. Care Plan by Care Health Insurance

    Care Health Insurance plan ensures the safety of the policyholder and his/her family against financial risks that arise out of a medical emergency.

    Key Features

    • The plan allows the policyholder to avail of the cashless facility in more than 11,000 network hospitals.
    • The plan offers coverage for modern treatments like robotic surgery, HIV/AIDS, etc.
    • One can avail of the facility of annual health check-ups.

    Eligibility

    Entry Age91 days upwards; no maximum entry age
    Maximum Sum InsuredRs. 6 Crore
  2. Max Bupa Health Premia: Platinum - Family Health Insurance Plan

    Health Premia is a comprehensive health insurance plan that looks after your family's medical needs with flying colors.

    Key Features

    • Avail cashless facility in more than 4800+ network hospitals.
    • The plan offers coverage against 20 listed critical illnesses plan (under critical illness cover).
    • The plan also offers maternity benefits for up to two deliveries.

    Eligibility

    Entry AgeNA
    Maximum Sum InsuredRs. 3 Crore
  3. Aditya Birla Activ Health Platinum Plan

    Aditya Birla Activ Health Platinum Plan offers comprehensive coverage to your family in the time of medical emergencies.

    Key Features

    • With 7000+ network hospitals, the company lets you avail of the cashless facility without worrying about the financial burden.
    • With this plan, a policyholder is eligible to get day 1 cover for the cost of medicines, tests, and doctor consultation in case of chronic illnesses such as diabetes, high cholesterol, and asthma.
    • One can earn up to 30% of their annual policy premium as Health Returns.

    Eligibility

    Entry Age91 days to no limit
    Maximum Sum InsuredRs. 2 Crore
  4. Bharti AXA Smart Super Health Insurance Plan

    With a wide range of benefits, this plan makes sure to look after your family's financial needs in times of medical emergencies.

    Key Features

    • One can avail of the cashless facility in 4500+ network hospitals.
    • The plan offers coverage against the expenses incurred during the pre and post-hospitalization of 60 days and 90 days.
    • One can also avail of the restoration benefit of the sum insured up to 100%.

    Eligibility

    Entry Age91 days-65 years
    Maximum Sum InsuredRs. 1 Crore
  5. Bajaj Allianz Family Floater Health Guard

    Bajaj Allianz Family Floater Health Guard offers suitable protection to you and your family and fulfills all your health care needs.

    Key Features

    • The plan offers cashless facilities in 6500+ network hospitals.
    • The plan provides coverage for pre-hospitalization and post-hospitalization expenses i.e., 60 days before hospitalization and 90 days after getting discharged.
    • In case the sum insured is expired, the plan offers a sum insured reinstatement benefit to the policyholder.

    Eligibility

    Entry Age3 months-65 years
    Maximum Sum InsuredRs. 1 Crore
  6. Family Health Insurance

  7. HDFC ERGO Optima Restore Family Plan

    HDFC ERGO Optima Restore Plan is a comprehensive family floater plan that offers complete medical coverage to you and your family at the time of an emergency.

    Key Features

    • The plan allows the policyholder to avail cashless treatment in more than 10,000 network hospitals.
    • The company rewards the policyholder for staying healthy and offers ambulance cover up to Rs.2000.
    • Pre and post hospitalization expenses (60 & 180 days) are covered under this policy.

    Eligibility

    Entry Age91 days-65 years
    Maximum Sum InsuredRs. 50 Lakhs
  8. SBI Arogya Premier Policy

    SBI Arogya Premier Policy is designed to meet the medical requirements of a family. With wider medical coverage, family members can opt for the best healthcare and consult top medical experts without worrying about the expenses.

    Key Features

    • A policyholder can avail of the cashless facility in 6000+ network hospitals.
    • No medical check-up is required for up to 55 years.
    • The plan covers maternity expenses after the completion of the first 9 months from the date of inception of the policy.

    Eligibility

    Entry Age3 months-65 years
    Maximum Sum InsuredRs. 30 Lakhs
  9. Star Family Health Optima Plan

    With the Star Family Health Optima Plan, one can cover the entire family's medical needs under a single sum insured.

    Key Features

    • The plan allows the policyholder to avail of the cashless facility in 9,900+ network hospitals.
    • Organ donor expenses are covered up to Rs.1 lakh or 10% of SI (whichever is less).
    • The plan covers pre and post-hospitalization expenses (60 & 90 days).

    Eligibility

    Entry Age3 months-65 years
    Maximum Sum InsuredRs. 30 Lakhs
  10. Chola MS Family Healthline Insurance Plan

    Chola MS Family Healthline is a great health insurance plan that covers all types of expenses incurred at the time of hospitalization and ensures you and your family get the best treatment without any financial burden.

    Key Features

    • The plan is divided into below-mentioned four variants:
      • Value Healthline
      • Freedom Healthline
      • Enrich Healthline
      • Privilege Healthline
    • The plan offers coverage against the pre-hospitalization expenses of 30/60 days, and post-hospitalization expenses of 60/90 days.
    • The coverage of a maximum of 7 days is offered under domiciliary hospitalization per insured person (per policy year).

    Plan Details

    Maternity BenefitsAvailable under Privilege Healthline
    Maximum Sum InsuredRs. 25 Lakhs
  11. Edelweiss Family Health Floater Plan

    Edelweiss Family Health Floater is an affordable health insurance plan that protects your family from the ever-rising medical costs during hospitalization.

    Key Features

    • The plan comes in three variants- Silver, Gold & Platinum.
    • The plan offers coverage for the hospitalization expenses up to the sum insured.
    • The plan provides ambulance cover up to Rs.10,000 (varies from variant to variant).

    Plan Details

    Maternity BenefitsAvailable under Gold & Platinum Plan (after the waiting period of 4 years)
    Optional CoverCritical illness cover is available

Things to Keep in Mind Before Buying a Mediclaim for a Family

Below are some of the key pointers that one should consider before buying a family health insurance policy. Let's take a look at them.

Coverage To The Entire Family

Coverage Offered By The Plan

Before finalizing the health insurance policy for your family, do check the benefits offered by the insurer. Confirm what type of expenses does it cover, the sum insured it offers, and whether the premium matches the weight of your wallet or not.

Requirements

Requirements

In several family health plans, you can cover yourself, your spouse, dependent children, and your parents. However, if you have a bigger family and wish to cover your brother or parents-in-law, a few family health plans can meet this requirement.

Easy Claim Process

Easy Claim Process

At the time of need, everyone wants to get their claims settled without any hassles. Therefore, understand your company's claim settlement process thoroughly to avoid any confusion at the time of a medical emergency.

Cashless Hospitalization

Cashless Hospitalization

Before buying health insurance for your family, make sure that the network hospitals of that company are in your vicinity so that at the time of a medical emergency, you don't have to travel long distances to get the treatment.

Cashless Hospitalization

Flexibility

If you are not sure about the sum insured and wish to increase/decrease it in the future, consider a family plan that gives you such flexibility.

Family Health Insurance or Individual Health Insurance - Which one to buy?

Answering this question is quite difficult as every individual has different perceptions and requirements. We know that family health insurance covers the entire family under a single sum insured.

Whereas, under an individual health plan, there is one policy for every person. This means, if there are 5 members in the family, everyone will have their policies, and the premium payable for each policy will also be different.

If we look at the premium amount, the premium payable under a family health insurance is less than the premium payable for individual policies. However, there may be instances where family health plans lack some of the benefits that you get under an individual health plan.

Therefore, before buying a health insurance policy, check your family's needs, and then decide whether to opt for individual or family health insurance.

Family Floater Health Insurance

How Can You Buy Family Floater Health Insurance?

With the advancement of technology, many insurance providers allow their potential customers to buy family health insurance via their websites by following a process. This may vary from one company to another.

  • Visit the official website of the respective insurance company.
  • Choose the family health plan of your choice and fill in the details.
  • Make an online premium payment. The policy document will be mailed to your registered email address.

You can also buy this insurance from the nearest provider's branch as well.

If for any reason you are unable to buy family health insurance from the insurer, PolicyX.com is there to assist you. Let's check out its buying process.

  • Go to the top of this page and fill the details in the 'Get Quotes from Top Insurers' form.
  • The next page will show you all the quotes from different companies. Choose your desired 'Family Health Plan'.
  • Pay the premium online and your policy document will be shared on your registered email address.

How To File a Family Health Insurance Claim?

Every insurance company offers two ways of filing a claim-

Cashless ClaimReimbursement Claim

For cashless claims, a policyholder needs to get admitted to any of the network hospitals (one can check the list of network hospitals on their insurance company's website), and then follow the below steps. These are standard steps, which may vary depending on the chosen insurance company.

  • One needs to show his/her health card provided by the respective insurance company along with one identity proof at the hospital insurance desk.
  • After validating your identity, the network hospital will submit the pre-authorization request form to your insurance company.
  • The company will review the request and provide the confirmation to the network hospital and share the same with you via text or email.
  • After the treatment, the company will settle the claim with the hospital.

If you are admitted to a non-network hospital, you need to inform the respective insurance company at the earliest (the timeframe may vary from one company to another). After the treatment is done, you need to pay the bills and then file a claim for reimbursement. The insurance company will review all the documents and provide the judgment (approval/rejection) after the same.

What Are The Exclusions Under Family Health Insurance?

The exclusions of family health insurance differ from company to company. Generally, the following medical expenses are not covered under such plans:

Routine medical check-ups.Expenses incurred on plastic surgeries.Overseas treatments (unless included in the plan)Any illness or injury resulting due to war conditions.Any injury due to indulging in unethical activities or adventurous sports.Complications at the time of pregnancy or childbirth (unless mentioned in the plan).

FAQ's

1. Is one eligible to buy multiple health insurance policies for his/her family?

Yes, one can buy multiple health insurance policies. If in case the cost of your treatment exceeds the sum insured of one policy, one can claim the balance from the second policy.

2. Does the family health insurance offer coverage for AYUSH treatments?

Yes. All the expenses that come under hospitalization care are covered under this insurance, including Ayurvedic, Homeopathy, Siddha, and Unani treatments.

3. Is there any waiting period for a family health insurance policy?

Yes. Generally, there is a waiting period of one month (30 days) during which any claim from the policyholder will not be considered by the company.

4. What will happen if I exhaust the sum insured of my policy?

In a family floater health insurance, the whole family is covered under a single sum insured. However, if you exhaust this sum insured, then none of your family members will be able to make any further claims during the policy period.

5. What will happen to a family floater policy if the proposer dies?

In such a case, the policy can be transferred in the name of another family member, provided (s)he is above 18 years of age.

6. What is the maximum age to cover a child under the family floater health insurance Plan?

In family floater health insurance plans, a dependent child can be included up to the age of 25 years (depending on the insurer).

7. What is the maximum number of claims allowed during a policy tenure?

There is no limit on the number of claims. One can claim until the sum insured of the policy is exhausted.

8. Can I include my grandmother in family health insurance?

Yes, you can cover your grandparents (up to 70 years) in a family health insurance plan.

Find Out What PolicyX Customers Says

2 days ago

Sarfraz Sadiq Pathan
Mumbai

Well co operated by policyx staff I thank them for giving me such a helping hand and hope in future they will give their best to solve any issues related to policy if there is any

December 18, 2020

Deepak Dashrathlal y
Ahmedabad

My policy number is 2876/00001449/0198/000/01is inforce upto 08/01/2020 kindly send renewal notice for extending further,or send your response by phone, send your representative.

October 26, 2020

Bipinchandra Somabhai Patel
Vadodara

I want to portability of United India insurance company individual health mediclaim policy taken since December 2005 and falling due for renewal on 06-12-2020

July 31, 2020

meenakshi singh
Delhi

Fantastic service providers, My details got changed within few days after the policy issuance. Efficient employees really.

July 16, 2020

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Vijayawada

Policyx is the best insurance web aggregator I have seen.Mrs Mayuri on behalf of policyx has helped me in choosing the best health plan and provided me fast and trustful service

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Last updated on 21-01-2020