Best Family Health Insurance In India- Buy your Family Mediclaim Policy

When it comes to ensuring family safety, having the right insurance plays a crucial role in the area of continuously raising the cost of medical facilities in India. with the increasing instances of lifestyle diseases having the best and most comprehensive health insurance policy is more important than ever before.

According to a survey conducted by the National Sample Survey Office, (NSSO), only 27% of Indian families have some kind of family protection with health insurance. this is the cause of concern, as healthcare cost in India is raising rapidly. in fact, within the last five years, the cost of hospitalization in India increased by 10%.

In the case of my close friend Saurav only because he did not have any health insurance during the covid19 he has to bear a significant financial burden, on the other hand, a friend of mine who has a health insurance policy for his family hardly needs to worry about medical bills as up to 50% medical cost bear by the insurance company.

Having a good health insurance plan for the family can help to mitigate the raising cost of medical services and also provide financial stability. however, choosing the right health insurance plan is a very difficult task considering the number of insurance providers available in the Indian market.

we aim to provide insight and detailed knowledge of various health insurance providers, to help users like you make an informed decision about family health insurance. so let’s dive and discover the best family health insurance in India.

Family Health Insurance Plans.	Sum Insured (Rs)	Key Benefits	View Your Policy.
ManipaCigna Family Health Insurance Plan.	2.5 lakh to 1 crore.	1) AYUSH cover. 2) Maternity expenses. 3) Domiciliary hospitalization. 4) in-patient hospitalization expenses. 5) Worldwide emergency cover.	View Plan.
Niva Bupa Family Health Insurance Plan.	1) Gold Plan: – 2 lakh to 50 lacks. 2) PlatinumPlan: – 2 lakh to 1 crore. 3) Platinum plus plan: – 2 lakh to 2 crores.	1) 8600+ hospital network. 2) Cashless medical treatment. 3) Coverage to both pre and Post Hospitalization. 4) No Claim Bonus. 5) Co-payment availability.	View Plan.
HDFC Ergo Family Health Insurance Plan.	1) Silver Plan: – 2 lakhs to 5 lakhs. 2) Gold Plan: – 7.5 lakhs to 15 lakhs. 3) Platinum Plan: – 20 lakhs to 75 lakhs.	1) Cashless claims are approved within 60 minutes. 2) Hospitalization coverage including COVID-19 3) Home Healthcare service. 4) Organ Donor Expenses. 5) LifeLong Renewability.	View Plan.

What Does Health Insurance Stands For Family?

Family health insurance is a type of health insurance policy that provides insurance coverage to all family members under a single insurance plan. The family health insurance plan covers the medical expenses of the family member insured under the particular policy plan. the plan can bear the cost of hospitalization, doctor consultations, diagnostic tests, and prescription medication.

The family health insurance plan is more affordable and convenient to have as compared to purchasing an individual health insurance policy for each member. the biggest benefit of having family health insurance is that insurance plans can be extended to spouses, dependent children, and even the parents in some cases.

Family health insurance policies come with multiple coverage options, benefits, and premium rates, and they can be customized to the particular needs of the family. family health insurance provides peace of mind to policyholders knowing that they are already protected against an emergency medical emergency.

Things to Be Considered While Buying Family Health Insurance in India: –

As there are countless insurance providers in India selecting the one with the maximum user benefits is a very daunting task. buying health family health insurance is not easy in India, as each policy provider has their own rules and regulations. So, before purchasing any kind of family health policy there are some factors you have to consider.

Coverage: –

The first and most important thing you have to check while buying family health insurance is the coverage, you have to make sure that your insurance policy is should provide coverage to all family members.

Other than that you also have to make sure that your family insurance policy includes major benefits like hospitalization expenses, pre and post-hospitalization expenses, daycare procedures, and ambulance charges as well.

Waiting period: –

The waiting period is a period during which insurance policyholders can not claim their policy protection, almost all insurers providers in India have the same short waiting period. it’s always better to have a family health insurance policy with a shorter waiting period.

Premium: –

Premium is a specific amount that policyholders have to pay the policy provider at regular intervals. premium is the amount that you pay to policy providers so they can repay you in an emergency as per their rules and regulations.

The best family health insurance policy is the policy which had the perfect combination of the premium amount and the coverage. look for a policy that provides maximum coverage at a minimum premium.

Exclusions: –

While buying a family health insurance policy it is also important to check what is covered or what is not covered under your health insurance policy. Many health insurance providers do not cover pre-existing illnesses, cosmetic surgeries, dental treatments, and many others. so you have to do some research and comparison of available family health insurance policies.

Network hospitals: –

Each insurance providers have their own contract with the different hospitals across the country to provide hassle-free claim settlement for policyholders. So, you have to make sure that your family insurance policy includes the chain of hospitals within the vicinity or the places you and your family frequently visit.

Co-payment: –

C0-payment is the percentage of the claim amount that policyholders have to pay, if your family policy covers half the expenses of the medical costs you have to pay the remaining 50% by yourself, that is called co-payment.

some insurance policies come with a mandatory co-payment clause, while others may have an optional clause. if your looking for an ideal family health insurance policy try to get a policy with a low co-payment clause.

Sub-limits: –

Sub-limits are the restrictions that the insurance provider imposes on the coverage of particular medical costs, such as lodging costs, physician fees, etc. Make sure you are familiar with the policy’s sub-limits and select a plan with greater sub-limits.

Policy renewability: –

Each policy provider have its own rules and regulations about policy renewability, some insurance provider does not provide policy renewability after a particular age limit, on the other hand, some insurance policy provides lifelong policy renewability.

so you have to be aware of your family policy renewability, a policy with lifelong renewability is always better for a family health insurance plan.

While purchasing family health insurance in India, it is important to carefully weigh a number of variables, including coverage, cost, waiting time, network hospitals, co-payment, and more. You may select a policy that offers comprehensive coverage and best suits your family’s healthcare requirements by taking into account all of these variables.

Best Insurance Plans You Can Consider To Protect Family: –

There are numerous health insurance providers available in the market, and if you don’t know there are 24 life insurance companies recognized by IRDA. so sometimes it confuses new policy seekers as to which one is more suitable and affordable for them.

So, here policyGyan India is with the top 3 family health insurance providers, and with them, you can get maximum family health benefits. we the policyGyan India aim to provide in detail knowledge about family health insurance plans, with our expert authority.

Family Health Insurance Plans.	Sum Insured (Rs)	Key Benefits.	View Your Policy.
Manipal Cigna Family Health Insurance Plan.	2.5 lakh to 1 crore.	1) AYUSH cover. 2) Maternity expenses. 3) Domiciliary hospitalization. 4) in-patient hospitalization expenses. 5) Worldwide emergency cover.	View Plan.
Niva Bupa Family Health Insurance Plan.	1) Gold Plan: – 2 lakh to 50 lacks. 2) PlatinumPlan: – 2 lakh to 1 crore. 3) Platinum plus plan: – 2 lakh to 2 crores.	1) 8600+ hospital network. 2) Cashless medical treatment. 3) Coverage to both pre and Post Hospitalization. 4) No Claim Bonus. 5) Co-payment availability.	View Plan.
HDFC Ergo Family Health Insurance Plan.	1) Silver Plan: – 2 lakhs to 5 lakhs. 2) Gold Plan: – 7.5 lakhs to 15 lakhs. 3) Platinum Plan: – 20 lakhs to 75 lakhs	1) Cashless claims are approved within 60 minutes. 2) Hospitalization coverage including COVID-19 3) Home Healthcare service. 4) Organ Donor Expenses. 5) LifeLong Renewability.	View Plan.

Let us discuss these plans in a detailed manner:

Manipal Cigna Family Health Insurance Plan

It is one of the best contestants in the Indian insurance market, with a good 91% of policy claim settlements. within the financial year 2018, its market share raises up to 40% from 36.71%.

Niva Bupa Family Health Insurance Plan

Niva Bupa is an industry-leading family health insurance provider with an 8600+ chain of hospitals across the country for easy settlement. Health Niva Bupa insurance has one of the best claim settlement ratios with 99.99%.

HDFC Ergo Family Health Insurance Plan

HDPC Ergo is one of the strongest players in the Indian health insurance market with a market share of 10%. It use to offer more than 50 plans to its users. The insurance provider also maintains an impressive claim settlement ratio of 97%.

What is Covered in Family Health Insurance Plan?

Before buying family health insurance it’s important to understand what is covered under that family health insurance, according to the survey conducted by ICICI Lombard in 2020 found that almost 57% of policyholders do not have adequate coverage to cover the medical treatment cost of their family members.

Each policy provider provides the policy with certain limitations on it. so you have to make sure that with the family health insurance, you should have access to the maximum medical facilities. here are some important factors your insurance policy should be covered.

Hospitalization Expenses: –

Medical treatment is super costly in India and it includes a variety of service charges like medicine, hospital bed rent, ambulance charges, nursing charges, doctor meetings service charges, and many more expenses. So, one family health insurance plan provides a sense of relief from financial burdens.

Daycare Treatment: –

Daytime medical treatments refer to treatments that are completed within a few hours and do not require an overnight stay in the hospital. Daytime medical treatments including things like chemotherapy, dialysis, and cataract surgery are all covered by one family health insurance plan.

Critical Illness Coverage: –

Some family health insurance policies also provide critical illness coverage as an extra benefit. In the event that the policyholder is identified as having a serious disease, such as cancer, a heart attack, or a stroke, this insurance provides a lump payment to the policyholder.

Maternity and Newborn Coverage: –

Prenatal care, labor, and delivery, as well as postpartum care for the mother and child, are all covered by the family health insurance plans. Those wanting to have children should get this insurance since childbirth-related medical costs might be high.

Alternative Treatment Coverage: –

Many family health insurance policies also cover the cost of alternative treatments such as Ayurveda, Homeopathy, and Unani as well. some families prefer this kind of treatment over allopathic treatments. so, you can check if your family’s health insurance covers the cost of these treatments or not.

Room Rent Limit: –

Almost all kind of insurance plans covers room to rent but some of them put a limit on the amount insured under the insurance policy. it is important to carefully consider the limit on the hospital room rent because in certain medical treatments rooms are super expensive you can not afford it single-handedly.

Organ Donor Expenses: –

Some health insurance policies also cover the cost of organ transplantation. so, for the emergency situation, you can also keep this option on if your family health insurance covers organ donor expenses.

Regular Health Check-Ups: –

In the family, we have all aged members from newborn babies to our grandparents, and they need regular health check-ups to detect potential health issues early and take necessary precautions. many health insurance plans cover the cost of health check-ups to encourage policyholders for these minor but very important check-ups.

Ambulance Charges: –

Many family and individual health insurance plans cover the cost of ambulance services. may the charges of ambulance services not so high but it’s still better to cover under the insurance policy.

A family health insurance plan is an essential investment in your family’s health. Understanding the coverage offered by your policy is important to ensure that you make the most of the benefits.

Each of these benefits is intended to offer financial security and assistance with medical costs. It is crucial to carefully assess the coverage offered and make sure that it satisfies your family’s healthcare needs before deciding to purchase a family health insurance plan.

What is Not Covered in Family Health Insurance Plan: –

What is covered or what is not under a particular health insurance policy totally depend on policy provider rules and regulation. there are also some common services or we can say features for which most family health insurance providers do not pay.

Cosmetic procedures: –

Cosmetic procedures such as rhinoplasty, liposuction, or breast augmentation do not cover under the family health insurance policies. These procedures are considered elective and are not deemed medically necessary.

Fertility treatments: –

Most family health insurance policies do not cover the fertility treatments such as in vitro fertilization (IVF), which can be expensive. Insurance providers often exclude these treatments from coverage, citing them as non-essential or experimental procedures.

Sexually Transmitted Diseases (STD): –

Most family health insurance plans do not provide coverage for sexually transmitted diseases. STD includes a number of diseases such as Bacterial Vaginosis, Hepatitis, Herpes, HIV/AIDS & STDs, and many others.

Pre-existing conditions: –

Family health insurance policies do not cover pre-existing conditions. pre-existing conditions are any diseases or illnesses presented before the policy purchase known as pre-existing conditions.

Self-inflicted injury: –

self-injuries are the pre-planned or result of a self-aware activity that does not cover the family health insurance policies. Such injuries also happen because of bad mental health conditions which are also not covered under family health insurance plans.

Mental health: –

however mental health services are becoming more widely accepted and covered under health insurance plans, some family health insurance policies may still not cover them fully or may limit coverage for mental health services. This can include therapy, counselling, or medication for mental health conditions.

Alternative therapies: –

Family health insurance plans typically do not cover alternative therapies like acupuncture or chiropractic care. Some treatments may not be thought to be necessary or essential, but rather complementary or alternative.

These are some major diseases or we can say illnesses which do not cover under the family health insurance plans. some health insurance providers do provide coverage but with certain limitations on it. So, you have to make sure your family health insurance covers most of the essential services for your family well being.

Importance of Family Health Insurance Plan: –

Family health insurance is important for a variety of reasons as it provides peace of mind and financial stability. one of the significant benefits of having family health insurance plans is that it offers tax benefits under Section 80D of the Income Tax Act.

family health insurance insured the safety and security of medical treatment for the family members. here are some reasons why family health insurance is so important.

Financial Protection: –

Particularly in a medical emergency, the rising healthcare expense can place a heavy financial burden. A family health insurance plan guarantees financial stability by paying for hospital stays and medical care. This might lessen the financial strain that families can experience in these trying times.

Tax Benefits: –

Having a family health insurance plan is a great way to get some tax benefits under Section 80D of the Income Tax Act. The government of India allows family health insurance holders to receive some tax benefits up to INR 25,000. This deduction increases to INR 50,000 if you are a senior citizen.

Comprehensive Coverage: –

Plans for family health insurance provide thorough coverage for a variety of medical costs, such as hospitalization, surgery, and other procedures. Healthcare management is made simpler because everyone in the family is protected by a single policy.

Access to Quality Healthcare: –

A family health insurance plan makes sure that your family should receive quality care facilities including the Best Hospitalization, Best Doctors, and other mandatory services. The family health insurance plan ensures that family members receive the best possible medical treatment without worrying about the cost.

Affordable Premium: –

The premium for many family health insurance plans is more affordable as compared to individual insurance plans. with family health insurance you get the whole family insured under a single policy at an affordable premium.

Flexibility: –

Family health insurance plans are super flexible policyholders can be easily modified or renewed based on the changing family healthcare need. the family health insurance plan allows policyholders to adjust their coverage as per their needs and also the same time ensures that the policyholder is always adequately protected against medical emergencies.

Preventive Healthcare Access: –

Some family health insurance policies also include wellness programs, vaccination, and other preventive healthcare procedures. Families are thereby encouraged to prioritize preventative healthcare and maintain good health.

So, these are some reasons why it’s so important to have family health insurance plans. keeping in mind financial protection provided by insurance companies during medical emergencies it’s even more important to consider having family insurance.

Documents Required to Buy Family Health Insurance In India: –

Each family health insurance providers have their own rule and regulations, however, many online policy providers make it easy for users to purchase any policy from home itself. but still, there are some important documents you need to keep with you while purchasing a family health insurance plan.

• Age proof or identity proof: – It is so important to have age proof or identity proof while purchasing family health insurance plans. It can include, Birth Certificate, school leaving certificate, Aadhaar Card, PAN Card, Passport, or Voter ID card.
• Address Proof: – While Buying Family health insurance you also need to provide address proof such as Aadhaar Card, Passport, Voter ID card, or utility bills.
• Income Proof: – You need to provide income proof such as salary slips, and income tax returns.
• Medical Reports: – In case of any pre-existing medical condition you have to submit medical reports or also if you are purchasing a policy for an elderly family member, you may be required to provide medical reports.