Family health insurance
Family health is one thing that can cause a lot of trouble to you both emotional and financial if not taken care of.
Family health is a type of insurance that provides coverage to the health of more than two members of your family for a fixed annual premium.
It is advisable to buy this if you have a good medical history. Also, family is the most important thing that one has and any carelessness on your part regarding their health etc can lead to a lot of trouble and can disturb your mental peace.
It is one policy that covers up to 15 members of your family and saves from buying and remembering the credentials of various policies.
Types of family health plans
Based on type of health covered, the family health insurance can be broadly classified in to type following two categories:
Medical health insurance: it typically reimburses the hospitalisation cost subject to health care treatment. The insurance company will bear the expenses in the form of cashless treatment and reimbursement.
Critical illness insurance: this plan cannot be bought as a single plan for the entire family and it seeks to provide the coverage in case of critical illness and disease such as heart attack, kidney failure etc.
Advantages of a family health plan
- Firstly, it allows you include more than one member of your family to the same plan. That is, you can include yourself, your spouse, your parents, your kids and even you’re in laws too same plan. In some cases a family health insurance plan allows you to add up to 15 members of your family to just one plan. This saves you from remembering the credentials of different policies and saves you from filling the different premiums for different plans.
- Secondly, you can add members to the existing plan and all that you have to do is to just increase the premium of your existing policy and relax.
- Hassle and fuss free: because this is one policy that covers all the individuals of your family, you don’t have keep in mind the details and other important things of different policies. Everything is settled with just one policy making your life a bit easier.
- Easy to add new members: this lets you add any new member of the family to the policy cover whenever need be. With a new individual cover, you buy a new policy and can also increase the sum assured. In case of demise of the senior member included in the family, others can be added with floater without much need of the new policy.
- Attractive features: features such as maternity cover or new born baby cover and the additional tax benefits are some of the attractive features of best health insurance plan for family.
Eligibility criteria
- It allows you to include new members in the policy with an additional premium.
- The policy is expired as soon as the eldest member of the family reaches the maximum age covered under the policy.
- Increase the premium and the sum insured if you are adding new member to the plan to make sure that you get the complete individual cover.
- The dependent child is not covered by the policy as soon as it reaches the age as stated in the policy cover
Point to note: a family health insurance plan is one plan that secures the health of all the individuals of your family. It saves you from buying different health plans for each individual and remembers the credentials and it is also less costly than various health plans combined for different individuals and offer you all the necessary coverage.
Here is a list of best family health plans that you can choose from, according to your requirements.
| Insurance Company | Family Health Plan | Age | Sum Assured | Pre & Post Hospitalization | Pre-existing Diseases |
|---|---|---|---|---|---|
| Bajaj Allianz Health Insurance | Family Floater Health Guard | 18 to 65 years; 3 Months to 25 years as dependent children | Minimum=2 Lakh;
Maximum=10 Lakh (entr age<=55 years); 5 Lakh (entry age>55 years) |
Pre-hospitalization: 60 days;
Post hospitalization: 90 days |
After a waiting period of 48 months |
| Star Health Insurance | Family Health Optima Insurance Plan | 18 to 65 years; lifelong renewability after 65 years of age; dependent child from the 16th day | Minimum=1 Lakh; Maximum=15 Lakh | Pre-hospitalization: 30 days;
Post hospitalization: 90 days (7% of total expense max up to Rs. 5, 000) |
After a waiting period of 48 months |
| National Insurance Company | National Insurance Mediclaim Policy | 18 to 60 years; 3 Months to 25 years as dependent children; renewability up to 65 years of age | Minimum=50, 000 Lakh;
Maximum=5 Lakh |
Pre-hospitalization: 30 days;
Post hospitalization: 60 days |
After a waiting period of 48 months |
| New India Assurance | Family Floater Mediclaim Policy | 18 to 60 years; 3 Months to 18 years as dependent children; lifelong renewability | Minimum=2 Lakh;
Maximum=5 Lakh |
Pre-hospitalization: 30 days;
Post hospitalization: 60 days |
After a waiting period of 48 months |
| United India Health Insurance | Family Medicare Policy | 18 to 80 years; 3 Months to 18 years as dependent children; lifelong renewability | Minimum=1 Lakh; Maximum=10 Lakh | Pre-hospitalization: 30 days;
Post hospitalization: 60 days subject to max up to 10 percet of sum assured |
After a waiting period of 48 months of continuous renewal with the company |
| Oriental Insurance Company | Happy Familt Floater Policy | 18 to 65 years; lifelong renewability after 65 years of age | Minimum=1 Lakh;
Maximum=10 Lakh |
Pre-hospitalization: 30 days;
Post hospitalization: 60 days |
After a waiting period of 48 months of continuous renewal with the company |
| SBI General Insurance | Smart Health Insurance | 18 to 65 years; 3 Months to 22 years as dependent children | Minimum=1 Lakh;
Maximum=5 Lakh |
Pre-hospitalization: 30 days;
Post hospitalization: 60 days |
After a waiting period of 24 months |
