With rising medical expenses, health insurance has now become the need of the hour. So read on to know all about the best family floater plans of the country.
In India, medical insurance is highly undervalued. However, health insurance awareness has grown recently. Unfortunately, even today, people are not paying adequate attention when it comes to covering their families against unpredictable medical emergencies. A comprehensive health insurance policy makes sure that you get financial coverage when you need it the most.
A family floater health insurance policy, as the name suggests, is a policy that is tailor-made for families. It covers all the members of your family against various diseases and illnesses. Family health insurance plan covers your family for a premium depending upon the age of your family members. Being covered under a comprehensive family floater health insurance policy, each member gets benefits under a larger common pool.
One of the biggest perks of a family plan is you get to take care of yourself and your entire family under one single health insurance policy. This is easier to manage than managing 4-5 individual policies. By opting for a family floater health insurance policy, you secure yourself and your family, including spouse, children, and parents. By paying a small sum for health insurance, you ensure access to the best medical facilities in the hour of need.
Top health insurance plans for family
Before opting for a family floater health insurance policy, you must compare quotes and coverage. This will help you choose the best suitable plan according to your health insurance requirements. Here are some of the best family floater plans offered by India’s top health insurance providers.
Religare Care Health Insurance Plan
| Features / Sum assured | Care 3 (SI - 4 lakhs) Super saver plan | Care 4 (SI – 5,7,10 lakhs) Elite plan |
|---|---|---|
| Deductible in the policy period | No Deductible | No Deductible |
| In-patient hospitalisation | Up to sum insured | Up to sum insured |
| Pre-hospitalisation | 30 days | 30 days | Post-hospitalisation | 60 days | 60 days |
| Daycare treatments | Yes | Yes | Room rent | 1% of sum assured per day | Single private room |
| ICU charges | 2% of sum assured per day | No limit |
| Ambulance cover | Rs. 1500 per hospitalisation | Rs. 2000 per hospitalisation | Daily allowance | Rs. 500 per day, up to 5 days | NA |
| Domiciliary hospitalisation | Up to 10% of sum insured | Up to 10% of sum insured |
| Organ donor cover | Rs. 50,000 | Rs. 1,00,000 |
HDFC ERGO Optima Restore Plan
| Basic sum insured per person per policy (Rs.) | 3 lakhs, 5 lakhs, 10 lakhs, 15 lakhs, 20 lakhs, 25 lakhs, 50 lakhs |
|---|---|
| In-patient treatment | Covered |
| Pre-hospitalisation | Up to 60 days |
| Post-hospitalisation | Up to 180 days |
| Daycare procedures | All daycare treatment covered |
| Domiciliary treatment | Covered |
| Organ donor | Covered |
| Daily cash for shared accommodation | Rs. 800 per day, up to Rs. 4800 |
| Emergency ambulance | Up to Rs. 2000 per hospitalisation |
| Critical advantage rider | Offered where the basic sum insured is Rs. 10 lakhs and above |
Star Family Health Optima Plan
| Pre-hospitalisation expenses | Up to 60 days |
| Post-hospitalisation expenses | Up to 90 days |
| Lump-sum for treatment in Preferred network hospital | In the event of a medical emergency that requires hospitalisation, up to 1% of the basic sum insured up to Rs. 5000 per policy is payable |
| Automatic restoration of the sum insured | 3 times at 100% of the sum insured, during the policy period |
Niva Bupa Health Companion
| Sum insured | From Rs. 3 lakhs up to Rs. 1 crore |
|---|---|
| No claim bonus | Increase in sum insured @20% subject to the maximum of 100% of the basic sum insured for each claim-free year. |
| Health check-up | You can avail health check-up for yourself and family once in two years for variant 1 and every year under variant 2 & 3 |
| Policy term | Default policy term for all plans is one year. You have an option to select 2 years policy term and avail discounted premium rates |
| Refill benefit | As per this feature, you are entitled to receive an additional sum insured equal to the basic sum insured for a subsequent claim in the same policy year. |
| AYUSH | You can avail in-patient treatment under Ayurveda, Unani, Siddha, and Homeopathy up to the basic sum insured |
Family health insurance claim process
Claims can be settled in two ways for the family health insurance plans. They are as mentioned below:
Cashless process
In the case of the cashless claim settlement process, you are not required to pay hospital bills from your pocket. The insurance company directly settles the claim amount with the network hospitals. All you need to do is,
Visit the insurance desk at the network hospital you would get admitted in
Present the medical card and identity card for verification
After verification, you need to submit a pre-authorisation form
The third-part administrator verifies the documents and approves the cashless claim as per the terms of the coverage
The insurance company assigns a field executive to make the entire claim process smooth.
Reimbursement claim process
In case of a reimbursement claim, you are required to pay the medical bills at the hospital first, and the insurance company then reimburses the covered expenses later.
When discharged, you are required to pay the hospital expenses and collect all original documents, including medical bills and reports.
You need to submit the reimbursement claim form to the insurance company along with the required documents, hospital and medical bills, consultation reports, and any other document as specified by the insurer.
The insurance company will validate the claim and pay the same as per the policy terms.
Our health always seems much more valuable when we aren’t feeling too well. Hence, it is always wise to be prepared for the unexpected. It is advisable to save yourself from the financial burden at the time of medical emergency by covering yourself and your family under a health insurance policy at the earliest. Yes, health insurance coverage for your family does cost money, but not having one can cost you a lot more!
