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List of family health insurance policies - Features & benefits

Jagrity Sharma Jagrity Sharma 09 August 2019

Family health insurance – Get coverage for yourself and your whole family under a single health insurance policy, with these top family health insurance plans offered by India’s reputed insurers.

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Are you relying only on the health insurance cover offered by your employer? Are you prepared enough for medical emergencies for your family? If your answer is yes, think again! There is no doubt that ever-increasing healthcare costs can easily wipe off your savings in case of a medical emergency. And you surely don’t want that for your family.

Health insurance policies covering individuals with a relatively small sum assured are inadequate, given the ever-increasing medical inflation. Hence, it is wise to have a separate family health insurance plan to take care of your family in case of a medical emergency. So, whether it's your spouse, daughter, son, parents, parents-in-law, etc. family health insurance policies will provide protection to all.

As cost is a deciding factor with most things, buying health insurance in bulk is a smart choice. A family floater plan will cover your entire family under one insurance plan and will, therefore, cost less than different individual plans for family members.

Features of family health insurance

Covers the entire family: A family health insurance policy allows you to cover your family, including your spouse, children, and parents. Many insurance companies allow you to also cover parents-in-law as well.

Rebate on high sum assured: Many insurance companies offer rebates on high sum assured on family health insurance plans.

Cashless claim settlement: You can avail cashless treatment at the time of claim if the treatment is carried out in a network hospital of the insurance company.

Increase in the sum assured:Family health insurance policies come with no claim bonus. The company offers increased sum assured every year if you don’t raise a claim throughout the policy period.

Policy term: Usually, insurance companies offer term options of 1, 2, or 3 years.

Benefits of Family health insurance

Save money: You can cover your entire family under one umbrella. You can save money by purchasing family health insurance instead of buying an individual health plan for each member of the family.

Tax benefits: The premiums paid towards the family health insurance plan are eligible to receive tax benefits under Section 80D of the Income Tax Act, 1961.

Easily add a new member: You can easily add children or any other member in your family floater plan.

Restore exhausted coverage: Many insurance companies provide special benefit in which the full coverage i.e. base sum insured can be reinstated once the coverage is exhausted during the policy term.

List of family health insurance plans in India

Family health insurance allows you to cover family member under one premium. It also includes a list of countless common diseases, ailments and injuries, etc. Let's have a glance at some of the best family health insurance policies in India.

Religare Care

  • It is a comprehensive health insurance plan that offers coverage for your medical expenses incurred due to an illness, injury, or an accident.
  • The policy also offers pre and post-hospitalisation expenses up to 30 days and 60 days, respectively.
  • The plan includes free health check-up for family, day-care treatments, and global healthcare coverage.
  • The plan offers a daily allowance to meet day to day expenses.
  • No claim bonus up to 100% is provided.

Star Family Health Optima

  • The policy offers protection to your whole family simply by paying a single premium.
  • Pre and post-hospitalisation expenses are covered for up to 60 days and 90 days, respectively.
  • Star Family Health Optima plan offers domiciliary hospitalisation expenses for treatments that last for more than three days.
  • The policy offers an automated facility to restore the entire basic sum insured.
  • This family health insurance policy also includes coverage for infants from the 16th day of birth.
  • The policy offers 100% reinstatement of the basic sum assured.

Apollo Munich Optima Restore Family

  • It is a tailor-made family health insurance plan that includes spouse, children, parents as well as parents-in-law.
  • Pre-hospitalisation expenses are covered for up to 60 days, whereas post-hospitalisation expenses are covered for up to 180 days.
  • The plan offers some unique advantages such as multiplier, stay active and restore.
  • The plan offers up to 50% bonus for not claiming the policy. The bonus can be availed by increasing the sum assured or reducing the premium amount. In case of a policy claim, the bonus will be reduced by 50%.
  • This family health insurance plan offers automatic reinstatement of the basic sum assured if the sum assured gets exhausted during the policy term.
  • Daily cash allowance is offered up to Rs. 1000, if the policyholder opts for shared accommodation.

HDFC Health Suraksha

  • The primary motive of HDFC Health Suraksha plan is to provide continuous and enhanced medical treatment.
  • There is no maximum age limit to enter into this plan. The policy provides an option of critical illness and maternity cover.
  • Pre-hospitalisation expenses are covered for up to 60 days.
  • The policy does not have any sub-limits on hospital expenses, hospital room rents, doctor fees and specific diseases.
  • Cumulative bonus is offered on each claim-free year.
  • The policy gives the AYUSH benefit under which, expenses incurred on homoeopathy, Ayurveda, Siddha and Unani are covered.
  • Reimbursement of the day-care procedure is provided up to 144 day care procedures which does not have criteria of 24-hours of hospitalisation.

Oriental Insurance Happy Family Floater Plan

  • This family health insurance plan offers insurance coverage for self, spouse, dependent children, parents and parents-in-law. Individuals up to 65 years of age can be a part of this plan.
  • Pre and post-hospitalisation expenses are covered up to 30 and 60 days, respectively.
  • Cost of hospitalisation due to sudden illness, disease or accident is covered.
  • Cashless facility is offered in the network hospitals.
  • Expenses for the hospitalisation of the donor, ambulance charges, and treatments done at home are covered.
  • The plan offers no claim bonus which can be availed in the form of a discounted premium.

One of the key reasons why you should opt for a family health insurance plan is the healthcare cost, which is rising at a rapid pace.

Modern lifestyle, new age diseases and stressful working conditions have acted as a stimulus in the rising healthcare costs. If you wish to protect your hard-earned income from ever rising healthcare expenses, a family health insurance policy is absolutely necessary. It saves your money, relieves your tension and provides financial assistance during a medical emergency.

Jagrity Sharma
Written by Jagrity Sharma
A bibliophile who hates alliterations, but loves cream, comics and content immensely! On another note, a content marketer who leverages the power of words to explain...almost anything!