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HEALTH INSURANCE

Top Family Floater Health Insurance Plans & their details

Jagrity Sharma Jagrity Sharma 16 October 2019

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.

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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

Features / Sum assuredCare 3 (SI - 4 lakhs) Super saver planCare 4 (SI – 5,7,10 lakhs) Elite plan
Deductible in the policy periodNo DeductibleNo Deductible
In-patient hospitalisationUp to sum insuredUp to sum insured
Pre-hospitalisation30 days 30 days
Post-hospitalisation60 days60 days
Daycare treatmentsYesYes
Room rent1% of sum assured per daySingle private room
ICU charges2% of sum assured per dayNo limit
Ambulance coverRs. 1500 per hospitalisationRs. 2000 per hospitalisation
Daily allowanceRs. 500 per day, up to 5 daysNA
Domiciliary hospitalisationUp to 10% of sum insuredUp to 10% of sum insured
Organ donor coverRs. 50,000Rs. 1,00,000

Apollo Munich Optima Restore Family

Basic sum insured per person per policy (Rs.)3 lakhs, 5 lakhs, 10 lakhs, 15 lakhs, 20 lakhs, 25 lakhs, 50 lakhs
In-patient treatmentCovered
Pre-hospitalisationUp to 60 days
Post-hospitalisationUp to 180 days
Daycare proceduresAll daycare treatment covered
Domiciliary treatment Covered
Organ donorCovered
Daily cash for shared accommodationRs. 800 per day, up to Rs. 4800
Emergency ambulanceUp to Rs. 2000 per hospitalisation
Critical advantage riderOffered where the basic sum insured is Rs. 10 lakhs and above

Star Family Health Optima

Pre-hospitalisation expensesUp to 60 days
Post-hospitalisation expenses Up to 90 days
Lump-sum for treatment in Preferred network hospitalIn 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 insured3 times at 100% of the sum insured, during the policy period

Max Bupa Health Companion Plan

Sum insuredFrom Rs. 3 lakhs up to Rs. 1 crore
No claim bonusIncrease in sum insured @20% subject to the maximum of 100% of the basic sum insured for each claim-free year.
Health check-upYou can avail health check-up for yourself and family once in two years for variant 1 and every year under variant 2 & 3
Policy termDefault policy term for all plans is one year. You have an option to select 2 years policy term and avail discounted premium rates
Refill benefitAs 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.
AYUSHYou 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!
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!
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