Choose from these 5 health insurance plans for family in India 2024
Family health insurance plans in India are a crucial aspect of every household's financial planning. They ensure that medical expenses, expected or unexpected, do not cause a financial burden to the family. With the rise in medical costs, opting for a medical policy for family plan has become a necessity. A health insurance for family is designed to cater to the medical needs of the entire family under a single cover. Various insurance companies offer a wide range of family medical insurance plans with different benefits and coverage options.
Let us look at the some of the best family health insurance plans in India that provide comprehensive coverage, various benefits, and financial stability to the policyholder and their family.
Family health insurance plans
|
Sum insured
|
Key benefits
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Aditya Birla Group Activ Health Plan |
Up to Rs. 10 lakh
|
Coverage even with asthma, blood pressure, cholesterol, and diabetes
Coverage of both pre - and post-hospitalisation for 30 and 60 days respectively
Coverage of 527 daycare procedures
|
Bajaj Allianz Health Guard Insurance Plan |
Up to Rs. 50 lakh
|
Coverage of modern treatment methods
Covers bariatric surgery, maternity benefits
Covers organ donor expenses
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ManipalCigna Pro-Health Group |
Up to Rs. 10 lakh
|
Available with both co-pay and without co-pay
Covers domiciliary and daycare treatments
Covers in-patient hospitalisation for AYUSH treatment
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Niva Bupa Health Plus Plan |
Up to Rs. 10 lakh
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Covers pre- and post-hospitalisation expenses for 30 and 60 days respectively
Covers domiciliary and daycare treatments
Covers organ transplant expenses
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Aditya Birla Active Assure Diamond |
Up to Rs. 50 lakh
|
Get back up to 30% of your premium as HealthReturnsTM
Get 150% reinstatement on the sum insured
Get health coach for nutritional and wellness counselling
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Inclusions of family health insurance plans
Having a clear idea regarding what a family health plan covers will help prospective policy buyers to make an informed choice. Here are the standard inclusions in the medical insurance plans for family:
Hospitalisation expenses:
A family health insurance plan covers the hospitalisation expenses, including room rent, ICU charges, and doctor's fees, which can easily mount up and create a financial burden.
Daycare procedures:
Some insurance providers also cover day care procedures that don't require hospitalisation for 24 hours or more. These procedures include chemotherapy, dialysis, and cataract operations.
Pre-and post-hospitalisation expenses:
In addition to hospitalisation expenses, family health insurance plans also cover pre-and post-hospitalisation expenses. These can include doctor consultations, diagnostic tests, and follow-up treatments.
Maternity cover:
Many family health insurance plans offer maternity coverage, which covers the delivery costs of a child. Some plans also cover newborn baby care for a specific period.
Pre-existing diseases coverage:
Certain family health insurance plans offer coverage for pre-existing diseases. However, coverage for these diseases may come with a waiting period, usually between one to four years, depending on the policy.
Critical illness coverage:
Family health insurance plans also offer critical illness coverage, covering medical expenses incurred during the treatment of critical illnesses such as cancer, kidney failure, and heart ailments.
Alternative treatments:
Some family health insurance plans include coverage for alternative treatments such as Ayurvedic, Homeopathic, and Unani treatments.
Ambulance charges:
Family health insurance plans may also cover ambulance charges, which can help take the financial strain off of you during an emergency.
No claim bonus:
Some policies offer a no-claim bonus, where policyholders get a discount on the premium amount if they don't claim for a certain period.
Health check-ups:
Some insurance providers offer health check-ups for free as part of a family health insurance policy, allowing you to stay on top of your health and detect any health conditions early on.
Exclusions of family health insurance plan
The following are a few expenses that a medical insurance policy for family may not cover:
- Any disease that occurs during the waiting periods mentioned in family health insurance policy.
- STDs (sexually transmitted diseases) such as herpes, AIDS, etc.
- Any disease caused due to substance abuse, including narcotics, drugs, alcohol, etc.
Apart from these, there are a few health conditions that the insurance companies will cover after a specific time. These include prolapsed, bariatric surgery, joint replacement, and extruded intervertebral disc (PIVD) or herniated. A few others include:
- For cataracts, hernia, sinusitis, and piles, the insurer will accept claims after waiting period of two or more years.
- Insurers also have waiting period for pre-existing illnesses, maternity, and newborn baby expenses in a health insurance policy for family.
You should however remember that these exclusions are indicative. It varies from insurer to insurer. Read the policy document for more details. So, you have the utmost clarity about waiting periods for your chosen insurer and plan.
Eligibility criteria to buy health insurance plans for family
While comparing different options, individuals must also consider the following eligibility parameters.
- The minimum age of the policyholder's family members should be between 18 to 65 years. In case of dependent children, the age limit is between 3 months and 30 years.
- You can opt for health insurance plans for family to cover yourself, spouse, and children. Also, for your dependent parents, and parents-in-law.
Most plans will have tenure of a year. You need to renew the family health insurance plan to keep the coverage active.
Things to consider before buying a family health insurance plan
Before buying a mediclaim policy for family, read the pointers you must consider for maximum protection.
· Sum insured
The sum insured in a policy must be sufficient to meet the entire family's medical expenses. Therefore, reputed insurance companies offer family plans with a sum insured between Rs. 1.5 lakh and Rs. 2 crore.
· Hospital network of the insurance company
Always buy a health insurance policy for family from a company with a vast network of hospitals. You have the advantage of availing cashless treatment.
· Claim settlement ratio
Choose an insurance provider with a good claim settlement ratio in health insurance. The higher the ratio, the more streamlined the processes of accepting and settling the claims.
· Waiting period
Often, insurers apply a waiting period from 2 to 5 years on certain facilities. You can check the waiting period in the policy terms and conditions. Mostly waiting period is applicable on pre-existing illnesses. Also, add-on covers like dental coverage, free annual check-ups, etc. During this period, individuals cannot file any claim.
Therefore, you must thoroughly go through the inclusions and exclusions of a family health plan. Know if the company extends any add-on covers to expand the coverage.
Why should you buy a health insurance plan for your family?
Family health insurance is crucial, especially to tackle the medical inflation. It gives coverage to the entire family against minor injuries, major illnesses, accidental injuries, and outpatient procedures.
You only pay a single premium for the family health insurance plan. The sum insured is divided among all family members enrolled in the plan. Here are some factors why you should buy a health insurance plan for family.
· One plan for all
Family health insurance policy covers your complete family. You can also add your extended family and in-laws in the policy. Therefore, it is easier to manage.
· Keeps your savings unaffected
Any medical emergency can affect your family's financial planning and dent your savings. A health insurance policy ensures that your savings remain intact. You can avail of the best healthcare services without worrying about the funds.
· Sun reinstatement benefit
Most health insurance plans for family provide 100% sum reinstatement benefit. If the sum insured gets exhausted, you can restore the amount with this benefit.
· Focus on treatment and recovery
The cashless treatment facility offered under family health insurance plans in India helps you focus on the treatment and recovery. You can access quality healthcare services without worrying about the availability of funds. The insurer settles the bills directly with the network hospital.
What documents do you need to buy family health insurance?
Here’s the list of documents that you need to buy the family health insurance plan.
- Proof of identity – passport, driving licence or Aadhaar Card.
- Proof of address – utility bill, ration card, or driving licence.
- Birth certificates of each family member enrolled under the plan.
- Medical history if any pre-existing conditions or surgeries undergone in the past.
- Income proof, a salary slip, or any other document that proves your income.
However, if you are buying health insurance from Bajaj Finance Insurance Mall, you can buy health insurance through a 100% paperless journey.
How to apply for online family health insurance plans
Here are some steps for applying the best mediclaim policy for families:
Step 1: Click here to open our online application form.
Step 2: Fill in the application form with your basic details or the person that you want to insure. Provide your name, gender, and mobile number. Also, date of birth, and residential PIN code.
Step 3: Now click on ‘Get Quote’ to proceed.
Step 4: From the list of policies shown, choose your preferred family health insurance plan by clicking the ‘Buy Now’ button placed under each plan. You can further modify the insured amount, policy term, and plan-type to get a list of policies tailored to your preference.
Step 5: Based on the plan you choose, you may get the option to select the policy term and premium amount.
Step 6: Enter your email ID and check if all personal details shown are correct. Click ‘Next’ to proceed.
Step 7: Enter some additional details, such as height, weight, nationality, marital status, address, and nominee details (if applicable).
Step 8: Answer a few questions about your health and lifestyle by clicking the relevant checkboxes. Click on the ‘Next’ button to proceed.
Step 9: Verify if the previously filled details are correct. Click on the ‘Proceed’ button to visit the payment page.
Step 10: Make the payment through net banking, UPI, debit, or credit card to buy the policy.
After successful payment, your policy document will be available for you to download instantly. You will receive a copy of the policy document on your registered email ID within from 5 to 7 working days.
You will also receive an SMS confirmation immediately after the payment processed successfully.
You can also access your policy details through the My Account section within 5-7 days after purchase.
Why should you buy family health insurance plan online?
Here are a few reasons why you should buy family health insurance plans online:
Easy convenience: With just a few clicks, you can compare different health insurance plans and choose the one that suits your needs.
Payment security: Insurers provide a safe and secure online payment gateway, ensuring you can make transactions securely.
Instant quotes and policy issuance: You can get instant quotes and policy issuance for your chosen policy. No need for lengthy negotiations with agents.
Download policy document instantly: You can access the policy document anywhere and at any time without the need for a physical copy.
Transparency: Online purchase of health insurance plans for family provides complete transparency about policy benefits, coverage, and terms and conditions.
How to file a claim for a family health insurance?
Go through the step-by-step guide to raise a claim against family health insurance plans:
For cashless treatment:
Step 1: Fax or email your pre-authorisation form collected from your insurer’s website or the hospital’s insurance department.
Step 2: Submit medical records, discharge certificate, or letter, receipts of the diagnostic test, etc.
Step 3: You will receive an approval letter from the claim management department after claim authorisation.
The hospital will contact the insurance provider if they have any related queries. Upon resolving all the queries, the insurer approves the claim and settles the bill directly with the hospital. Insurer would inform the policyholder if cashless claim not approved. You can then file a reimbursement claim.
For reimbursement claim:
Step 1: Submit the claim form and other necessary documents to the address provided when you obtained the insurance plan or many insurers have now made filing online the new norm.
Step 2: Address the questions the claim management team of your insurance company has raised.
Next, once you have resolved queries and shared the relevant documents, once your claim is accepted by the insurer, you will receive reimbursement for your expenses.
Which documents do you need to raise a reimbursement claim under family health insurance?
Below is the list of documents that you need to submit when filing for a medical reimbursement claim under family health insurance.
- Duly filled health insurance claim form
- Health card or policy number/document
- Investigation/test reports like X-ray, CT scans, blood reports, etc.
- Bills and prescriptions
- Hospital discharge summary
- Doctor consultation papers
- NEFT details
Why choose family health insurance plans from Bajaj Finance
Bajaj Finance brings to you family insurance plans offered by best health insurance providers in the country. Here are some of the advantages of buying health insurance plans offered by Bajaj Finance.
Reliable brand name
Bajaj Finance is a name that inspires trust among customers. The company has provided efficient and affordable insurance policies in all sectors and consistently has been amongst the top distributors of health insurance plans in the country.
Digital process
Bajaj Finance’s online customer portal for family health insurance is quick, easy, and secure. This digital platform is informative and interactive with a customer-centric approach.