Out of the different types of insurance, a health insurance plan for family enjoys maximum popularity. You and your family members may fall ill from time to time, and the cost of medical treatment can be quite high.
Having accepted the fact that you need to get a health insurance plan for your family, the question you're left with is, which one? There are multiple insurance companies, each one offering you many lucrative benefits.
Here are a few useful tips to help you in deciding on a suitable insurance company for your health insurance plan for your family:
Premium Considerations
The premium is the amount payable monthly or annually to enable your health insurance plan for your family to remain in force. It is usually proportionate to the amount of coverage. The premium payable for the same coverage may vary from company to company. Hence, it is a good idea to shop around for a good deal on a health insurance plan for your family.
Value-Added Features
What are the value-added features that you may get in a health insurance plan for a family? Look for benefits like annual free medical check-ups, free consultations, and access to wellness programs. Most health insurance providers offer these when they sell you a health insurance plan for a family.
Level of Coverage
You need to be sure that the policy covers the maximum possible medical expenses that can be incurred. Also, be aware of the need for flexible coverage, meaning that you should be able to amend the coverage of your health insurance plan for your family with your changing needs.
Co-Pay Clause
In co-payment, the insurance company only pays a certain percentage of the claim amount for your health insurance plan for your family. The rest is to be borne by the policyholder. For instance, an 80%-20% clause means that the company pays 80%, and the policyholder pays the remaining 20%.
Alternative Treatment Clauses
You can get coverage for non-allopathic treatment with some policies. So, try securing a health insurance plan for your family that covers alternative medicine like homeopathic and ayurvedic.
Exclusions
Verify what a health insurance plan for your family does not cover. For example, most health insurance plans will consider plastic surgery and dental work as an exclusion.
The three significant benefits that you get from this health insurance plan for the family are the Multiplier, Restore, and Stay Active features. The Multiplier feature enables you to increase the amount insured by 50% in the case of a claim-free policy year with multiplier accumulation capped up to a maximum of 100%.
With the Restore advantage, you get 100% of the insured amount back towards unrelated claims.
You get rewards for following an active lifestyle under the Active Lifestyle feature. However, you are eligible for a claim only after 30 days of paying the first premium.
Key Features
Exclusions
Max Bupa Health Companion Family Plan
This health insurance plan for the family is an economical package providing affordable health insurance. You can get insurance cover up to as much as ₹1 crore. You are allowed to add up to 19 relationships to this health insurance plan for your family. Pre and post-hospitalization cover (30 days and 60 days, respectively) is available and lifetime renewability. You also get daily care and donor cover.
Key Features
Exclusions
HDFC ERGO - my: Health Suraksha
This health insurance plan for the family by HDFC has Silver, Gold, and Platinum plans, where the Platinum plan gives you maximum flexibility. Room rent and ICU are not capped, and you also get covered for 586 day care procedures.
Other attractive features of this health insurance plan for the family are long-term discounts, wellness services, a wide range of insured sums, and lifetime renewal. A significant feature is pre-hospitalization coverage of up to 60 days and post-hospitalization coverage up to 90 days.
Key Features
Exclusions
Like every other health insurance plan for a family, Religare Care offers different variants for death, illness or accidents asunder:
You can get coverage between ₹4 lakhs and ₹6 crores. Inpatient hospitalization coverage paid to the limit of the sum assured is available, with global, cashless coverage.
By spending a little extra, this health insurance plan for your family offers some customized add-ons like global coverage, Unlimited Automatic Recharge, No-Claim Bonus Super, Smart Select, personal accident cover, air ambulance coverage, and international second opinion.
Key Features
Exclusions
Star Family Health Optima Plan
The last health insurance plan for a family on our list is this plan from the Star Group covering a spouse and dependent children from 16 days to 25 years of age. Free annual check-ups are also provided. This health insurance plan is considered as a super saver health insurance product.
Key Features
Exclusions
Conclusion
So, which of these health insurance plans for your family are you going to choose? Now that you have a better understanding of how to select a suitable insurance provider, we are confident that you can go for any health insurance plan for your family from this list. If you aren't convinced, you are now armed with enough information to shop around for more policies.
So, get a health insurance plan for your family today. Be safe, protected, and happy!
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