Family Health Insurance

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.

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.

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.

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.

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.

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.

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

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.

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.

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.

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.

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.