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Top Health Insurance Policies for Family

Any health-related problems in your family can disrupt the peace and happiness of your home. Medical care has become so expensive that it can deplete your savings significantly. Without enough liquidity, arranging for funds in the last moment can be a devastating nightmare.

Wouldn't you like to have a friend who would look after you and your family during such urgent and distressing times? Well, much to your delight, you can find the answer in family health insurance. By investing in it, you can guarantee the well-being of your family and provide them with the best quality medical care.

In simple terms, family health insurance is a plan that covers more than one member of your family. The sum assured is fixed in this case, and you are liable to pay only a single annual premium. The best advantage is that you don't have to manage multiple contact points if something untoward medical emergency were to happen. Moreover, the paperwork is also minimal in such a case.

Afamily health insurance policygenerally covers your spouse and up to 2 children. Some plans also allow you to add your parents, siblings and parents-in-law for an additional premium. Also called a floater plan, such a health insurance policy is the best way to ensure the safety of your family.

Let's take a look at the best family health insurance plans that you can consider for your family.

Bharti AXA Smart Super Health Insurance Policy

Bharti Axa is a renowned general insurance company with almost 89% incurred claims ratio for the year 2018-19. They have an easy settlement process and thus, protects you from running pillar to post for your claims.

  • This particular health insurance policy from Bharti Axa offers you to select from three alternatives - the Classic, the Value and the Uber plans. These variants give you the flexibility to choose the right amount of sum assured as you deem fit. The Value plan offers a sum assured of Rs. 5 Lakh and Rs. 7 Lakh. The Classic Plan provides a cover of Rs. 10 lakh, Rs. 15 lakh, and Rs. 20 lakh. The Uber Plan, which is a premium plan, offers a sum assured of Rs. 20 lakh to Rs. 1 crore.
  • Although this plan is available for individuals, you can also choose to avail this policy as a family health insurance plan. This policy covers hospitalisation expenses and also offers certain other useful benefits, as given below.
  • It is a comprehensive health insurance policy which covers the expenses of hospitalisation, in-patient treatment, pre-hospitalisation fees, post-hospitalisation expenses, organ donor charges, day-care medications, AYUSH treatments, and domiciliary hospitalisation.

Moreover, you can opt for maternity benefit and hospital cash allowance.

  • You get Rs. 3000 as emergency ambulance charges.
  • This family health insurance policy covers basic annual health check-up.
  • You can avail a lump sum benefit in case of critical illnesses as part of this plan.
  • The plan covers your room rent without any caps provided it is up to the sum insured.
  • You can claim 100% of the sum assured as no-claims bonus.

National Parivar Mediclaim Plus

This family health insurance plan from National Insurance Company Limited is one of the most comprehensive policies that you will find. This health insurance policy covers you and your spouse, children, parents and in-laws under one floater plan. Let's look at the features of this plan.

  • The policy offers three variants and gives you the flexibility to choose the sum assured. The Plan A grants a benefit from Rs. 6 to 10 Lakh in increments of Rs. 1 Lakh. Plan B provides a sum assured from Rs. 15 to 25 Lakh in increments of Rs. 5 lakh. Plan C gives a cover of Rs. 30 to 50 Lakh in increments of Rs. 10 Lakh.

  • This health insurance policy covers in-patient hospitalisation, donor hospitalisation, maternity benefits, new-born expenses, pre-hospitalisation expenses, post-hospitalisation expenses, day-care treatments, ayurvedic and homoeopathic expenses and vaccinations for children.

  • The plans also cover ambulance and air ambulance charges (plan B and plan C), and their limits vary with the plans.

  • You can choose to add critical illnesses as an add-on to this policy.
  • You get the benefit of a 5% increase of the sum assured for every year that you do not make any claims. It holds true for all successive renewals. Moreover, you can also get good health incentives every 2 years.

New India Floater Mediclaim Policy

This family health insurance plan is available to all the family members between the age of 18 years and 65 years. However, this policy provides protection only to you, your spouse and two children. It does not cover parents, in-laws or siblings. Let's review the features of this policy in detail.

  • The minimum sum assured under this health insurance policy is Rs. 2 Lakh and the maximum is that of Rs. 15 Lakh.
  • This family health insurance policy is valid for 1 year, but you can renew it for a lifetime.
  • This plan covers day-care procedures and surgeries where 24 hospitalisation is not necessary. Moreover, the health insurance policy covers Ayurvedic, Homoeopathy and Unani treatments till 25% of the sum assured. However, to get this benefit, you must get the treatment at one of the registered hospitals.
  • NIC's family health insurance plan covers pre-existing conditions if you comply with the stipulated requirements, as mentioned in the details. The policy also covers pre-existing conditions like diabetes and hypertension if you continue with the plan for two continuous years.
  • The best advantage is that the premium paid towards this policy are deductible under section 80D of the Income Tax Act.
  • On renewal of the policy, you get loyalty and good health discounts.

Royal Sundaram Family Plus

This family health insurance policy is ideal if you have a large family. This plan covers as many as 19 individuals. It is a unique health insurance policy that offers individual covers apart from the family floater sum insured. Moreover, you get a reload benefit to provide adequate protection to you and your family. This benefit can double your sum assured without any extra cost. Here are the other features of this health insurance policy.

  • The plan offers individual sum insured of the following values - Rs. 2 Lakh, Rs. 3 Lakh, Rs. 5 Lakh, Rs. 10 Lakh & Rs. 15 Lakh. Moreover, you can select the floater sum assured of Rs. 3 Lakh, Rs 4 Lakh, Rs. 5 Lakh, Rs. 10 Lakh, Rs. 15 Lakh, Rs. 20 Lakh, Rs. 25 Lakh & Rs. 50 Lakh.
  • The plan can cover any child above the age of 91 days and any adult who is more than 18 years of age. There is no capping on the maximum age of the person to become a part of this family health insurance policy.
  • This health insurance policy covers hospitalisation, along with pre and post-hospitalisation expenses. It covers day-care procedures and domiciliary hospitalisation.
  • This health insurance policy offers maternity benefit along with nutritional allowance benefit for the mother. It also provides new-born baby cover and vaccination in the first year for up to two deliveries.
  • The plan offers a no-claims bonus which is the range of 20%-100% of the sum insured. It is regardless of whether you file a claim in a year or not.

Star Comprehensive Health Insurance Policy for family

Here is a family health insurance plan that covers you, your spouse and three children. You can include your children who are more than 3 months of age to 25 years. You can buy this health insurance policy if you are more than 18 years and below 65 years of age. Here are the key benefits of thishealth insurance plan.

  • The policy covers in-patient hospitalisation for a minimum duration of 24 hours. Moreover, it also covers pre and post-hospitalisation expenses. Domiciliary hospitalisation is also included as a benefit if it is for more than a period of three days.
  • This health insurance policy also covers Ayush treatments. It includes any in-patient hospitalisation for expenses incurred on treatment under Ayurveda, Unani, Sidha and Homeopathy treatments. However, the treatment should be done in either a government or a government-registered hospital.
  • There is no capping on the room rent and also covers complicated medical procedures such as bariatric surgery.
  • The policy covers ambulance and air ambulance charges as well. In the latter case, the maximum benefit is that of Rs. 2.5 Lakh and cannot exceed Rs. 5 Lakh during the policy period.
  • This family health insurance plan covers maternity expenses and new-born treatments. It also provides for the vaccination of the new-born in the first year.
  • If you happen to exhaust the sum insured during a policy year, you get the benefit of restoring 100% of the amount once during the policy period. This family health insurance plan covers the cost of health check-up for every year of no-claim.
  • You also get a personal accident cover against death and permanent total disablement. You get this benefit at no additional cost and the coverage in such cases equals the health insurance cover.

Recommended Link:What are the advantages of family health policy & critical illness cover?