Family Health Insurance
These days, the costs of healthcare treatment have risen manifolds due to advanced treatment procedures and medical inflation. Family comes first to everyone and people will do anything to safeguard their families. Along with taking care of their material needs, it is imperative to protect them from medical emergencies with the help of a good family health insurance policy. A Mediclaim policy for family offers coverage to your entire family on an individual or floater sum insured basis. Under the best Mediclaim policy for families, you can include two or more family members for several medical expenditures, including in-patient hospitalization expenses, pre-hospitalization & post-hospitalization expenses, daycare expenses, etc. Most health insurance plans for families offer cashless hospitalization facilities at network hospitals.
Benefits of Family Medical Insurance
Let’s take a look at some of the benefits of purchasing various health insurance plans in India for family.
- Stress-Free Hospitalization: Once you purchase family insurance plans, you don’t need to purchase separate health insurance plans for every family member individually. Now, you don’t need to face all the hassles of paying separate health care coverage charges. During the time of hospitalization, the insured individual can enjoy cashless facilities at a network hospital, like an individual insurance policy. Any of your family members can enjoy the coverage without compromising with the treatment.
- Easy to Add New Family Members: you can add a new family member easily to the existing family insurance plan. You can also expand your sum insured amount to get sufficient coverage for all. If the eldest family member passed away, then the remaining members can enjoy all the coverage benefits.
- Health Insurance Cover for Parents under the Same Policy: One of the biggest advantages of purchasing mediclaim for the family is that you can add your dependent parents or in-laws under the family plan by paying extra premiums.
- Cover for the COVID-19 Coverage for the Family: Nowadays, you should purchase a health insurance policy for the family that offers you coverage for all expenses related to the COVID-19. Many health insurance companies offer policies like Corona Rakshak Policy and Corona Kavach Policy. These policies offer coverage for your entire family against reasonable premiums.
- Tax Benefits under Section 80D of the Income Tax Act 1961: you can enjoy tax benefits on the premium paid under Section 80D of the Income Tax Act, 1961.
- Keeps You Prepared For All Emergencies: Mediclaim for family offers you much-needed protection for all times and keeps you prepared for all types of emergencies.
- Comprehensive Coverage: There are many comprehensive family medical insurance plans in the market that give sufficient inclusion to you and your family members and meet all healthcare requirements.
Eligibility Criteria to Purchase a Medical Policy for Family
Minimum Entry Age
- Adult: 18 years
- Children: 90 days
Maximum Entry Age
- Adult: 65 years
- Children: 25 years
Family Members Covered: self, spouse, dependent children, dependent parents, or parents-in-law
5 Best Family Health Insurance Plans in India
1. Aditya Birla Activ Health Platinum Plan
This is the best health insurance for the family.
Some features are:
- The sum insured amount is between Rs. 2 lakh to Rs. 2 Crore
- The treatment plan offers daycare procedures, in-patient hospitalization, domiciliary expenses, and OPD coverage
- This plan also reimburses the cost of obesity treatment
2. Bajaj Allianz Health guard plan
Some intriguing features are:
- The sum insured amount varies between Rs. 1.5 lakh to Rs.1 Crore
- The plan offers coverage for pre-and post-hospital expenses, ambulance costs, maternity expenses, preventive health check-ups, and many more
- This plan also supports bariatric coverage
Care Health Insurance Plan
- The sum insured amount is between Rs. 5 lakh to Rs. 75 lakh
- The plan offers coverage for maternity expenses, daily cash allowance, organ donor expenses, in-patient hospitalization expenses, and annual health check-ups
Digit Healthcare Plus Policy
- The plan offers a sum insured between Rs. 2 lakh to Rs.3 Crore
- The plan reimburses the costs of pre-and post-hospitalization expenses, maternity coverage, hospitalization coverage, OPD treatment, and so on
- This plan also offers infertility treatment coverage
Future Generali Future Health Suraksha Plan
This is another popular health insurance policy for family. Some interesting features are,
- The sum insured amount is between Rs.2 to Rs. 10 lakh
- The policy plan offers coverage for ambulance charges, daycare treatment, hospitalization expenses, pre-and post-hospitalization costs, and many more
What Is Covered Under a Family Health Insurance Policy?
- In-patient hospitalization expenses
- Daycare procedures
- Ambulance costs
- Pre-and post-hospitalization expenses
- Maternity cover
- Organ donor expenses
- AYUSH treatment coverage
- Mental illnesses cover (coverage for depression, anxiety, and schizophrenia)
- Daily cash allowance
FAQs related to Family Health Insurance
What are the documents needed to raise a reimbursement claim under a family health insurance policy?
You need the below-mentioned documents to initiate a claim under a family health policy.
· Duly signed and filled the health insurance claim form
· Policy documents
· The discharge summary
· All prescriptions, reports, and hospital bills
· Investigation results
How do I add a family member under the existing family health insurance?
You can add a new member at the time of policy renewal. Except for a newborn baby, you can’t add any family member in the middle of the policy.
Do I eligible for cashless facilities under a family health insurance plan?
Most health insurance plans offer cashless facilities to family members under their family health insurance plans. From the website of the insurance company, you can check the lists of the network hospitals where you can enjoy cashless facilities.
Is there any waiting period for family health insurance plans?
Family health insurance policies come up with several waiting periods.
The waiting period for
· Pre-existing diseases: 2-4 years
· Initial waiting period: 30 days
· Maternity coverage: 9 months to 2 years
· Specific diseases: 1 to 2 years
What things are not covered under family health insurance plans?
· Injuries due to participation in adventurous sports (rock climbing, parasailing, etc.)
· Health care expenses for the treatment of HIV/AIDS or related diseases are not covered under family health insurance plans.
· Intake or abuse of tobacco
· Intentional self-injuries
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Top Health Insurance Companies
- Bajaj Allianz General Insurance Company
- Care Health Insurance Company
- Go Digit General Insurance Company
- HDFC ERGO General Insurance Company
- ICICI Lombard General Insurance Company
- ManipalCigna Health Insurance Company
- Star Health & Allied Insurance Company
- Bharti AXA General Insurance Company
- Cholamandalam MS General Insurance Company
- IFFCO Tokio General Insurance Company
- Max Bupa Health Insurance Company
- National Insurance Company Limited
- Royal Sundaram General Insurance Company
- Reliance General Insurance Company
- Raheja QBE General Insurance Company
- Oriental Insurance Company
- New India Assurance Company
- TATA AIG General Insurance Company
- Universal Sompo General Insurance Company
- United India Insurance Company
- Aditya Birla Health Insurance Company
- Navi General Insurance Company
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