Family Health Insurance Plan

The financial security of your family is essential to afford the increasing cost of health care today. Family health insurance provides protection to your entire family against medical expenses incurred during an emergency on an individual or floater sum insured basis. Insurance companies provide different types of family health insurance plans.

These plans provide excellent coverage. They include a large network of hospitals, allowing treatment without immediate payment. Additionally, they ensure quick settlement of claims.

Family health insurance plan is kind of mediclaim policy that covers entire family in a single health insurance policy. This plan assumes that only one family member will get sick at a time, and they all share a fixed amount of insurance coverage.

Many family health insurance plans provide cashless hospital care. They cover both pre and post-hospitalization expenses. Additionally, they include maternity benefits.

Apart from getting financial protection against the high cost of treatment for your family. A health insurance policy is an excellent way to get tax-deductions.

List of 5 Best Family Health Insurance Plans in India:

• Aditya Birla Active Health Enhanced Plan -It is a top Indian insurance company which provide special plans for families. It offers sum insured ranging from Rs.2 lakhs to Rs.2 crores. The policy includes in-patient hospital care.
  Pre-hospital care has a 60-day waiting period, and post-hospital care has a 180-day waiting period. It covers daycare procedures, ambulance expenses, organ donor costs, homecare treatment, health check-ups, wellness, and hospital cash benefits.
  Additionally, family floater policy covers upto 9 members, has no age limit except the minimum age of 91 days.


• Digit Family Health Insurance Plan - It is a well-known insurance company. The company provides extensive coverage through some of the best family floater mediclaim policy plans in India.
  The sum insured amounts range from Rs.2 lakhs to Rs.25 lakhs. The policy covers key features, such as additional sum insured for accidental hospital care. It includes coverage for critical illness hospital care, maternity benefits, and newborn baby coverage.
  Coverage includes mental illness, bariatric surgery, organ donor expenses, and no age-based co-payment. It also covers annual check-ups, ambulance services, ICU room rent, Ayush treatments, refill sum insured, etc.
  


• Kotak Family Health Insurance Plan - It offers plans for the families that ensure more protection against financial crunches. The family medical insurance provides coverage with sum insured amounts ranging from Rs.3 lakhs to Rs.25 lakhs. This is a comprehensive plan with outstanding features like daycare procedures.
  It also covers organ donor expenses, domestic hospital care, hospital daily cash, in-patient hospital care, air ambulance coverage. The maximum age of entry for this plan is 65 years, and the minimum age is 91 months.


• Max Bupa Health companion Health Insurance - It provides an exclusive family health insurance plan at affordable rates, thereby leading the way to ensure comprehensive coverage. It provides policies with sum insured options ranging from Rs.1 lakh to Rs.1 crore. It allows a policy holder to undergo high-quality treatments in the network hospitals.
  Benefits offered by the policy include, but are not limited to, in-patient hospital care and pre-hospital care. It also covers OPD expenses, AYUSH treatment, organ donor expenses, daycare treatments. Considered the best family medical insurance plans in India, the plan aims to cater to customers' needs regarding coverage.


• Star Family Health optima Insurance Plan - This is one of the health insurance firms which offer a wide range of plans for a family. It lets policy holders choose a family health insurance with sum insured options ranging from Rs.1 lakh to Rs.25 lakhs. The plan covers health check-ups, domestic hospital care, and in-patient hospital care.
  It includes road and air ambulance charges. Coverage includes modern treatment, newborn care, and organ donor expenses. It also covers pre-hospital care, post-hospital care, and additional higher sum insured for road accident cases.

Family Mediclaim policy is one of the best ways to safeguard your entire family from financial uncertainties. As compared to individual vs family health insurance, family mediclaim policy has more benefits. The following is a summary of these:

• A family Mediclaim policy is one-stop insurance plan, a single policy, that covers and protects the entire family.
• This is more convenient to pay a single premium for entire family, rather than paying for various individual plans.
• The sum insured of family Mediclaim policy is for every family member which makes the coverage broader and better.

Several benefits that insured family members can get with family floater health insurance plans. Here is a quick rundown of some of the main benefits of buying a family health insurance plan:

• Stress-free Expense Coverage for Hospital Care -Any member of the insured family can avail cashless treatment in a network hospital of the insurance provider.


• Get Health Insurance Cover for Parents in the Same Plan - Many companies allow to include both your parents and parents-in-law in family health plan without extra charges.


• Affordable Premium - Health insurance policy for family enable you to cover all family members under a single plan. No need to pay separate premiums for each member. This comes at an affordable cost.


• Insure New Family Members Easily - In family health insurance one can add a new family member easily by paying an extra premium. Unlike individual coverage, you don't need to get a new policy every time a new family member is added.
  If you decide to add your parents to an existing Health Insurance Plan, make sure to increase your sum insured.


• COVID Health Insurance for Family - You can buy health insurance for COVID-19 to financially secure yourself and your family members against the virus. All insurance providers are offering COVID-19 treatment cover under basic health plan. It has also been launched to cover hospital care costs incurred for the treatment of COVID-19 on floater basis.


• Option to Avail Additional Benefits - Various add-on options are available under family health plans, including critical illness cover, maternity cover, etc.


• Tax Benefits on Health Insurance Premium – Family health insurance premium is tax exempted under Section 80D of the Income Tax Act.

The most common coverage available under family health insurance plans are:

• In-patient Hospital Care Expenses – The coverage includes any medical expenses for hospital care lasting over 24 hours because to illness or accidental injury.


• Day Care Procedures - It covers the cost of day care procedures, requiring a hospital care of less than 24 hours.


• Ambulance Charges - Coverage includes the expenses incurred for availing ambulance services to the hospital during medical emergency.


• Pre and Post-Hospital Care Expenses - The policy covers medical expenses before hospital care, like investigations and tests. It also covers expenses after discharge, including follow-up consultations for a specified number of days.


• Maternity Cover - Most family health insurance plans come with maternity cover for pregnancy-related expenses and newborn baby expenses.


• Organ Donor Expenses - It covers the cost of harvesting an organ and transplant expenses related to the donor.


• AYUSH Treatment - Coverage includes any hospital care expenses incurred to avail treatment through Ayurveda, remedying medicine, Unani, and Yoga.


• Domestic Treatment - It pays for medical expenses incurred on availing treatment at home on the advice of a doctor.


• Daily Cash Allowance - The insurance company provides the policy holder with a daily hospital cash allowance. This helps them cover day-to-day incidental expenses during hospital care.


• Mental Illness Cover - Most family health insurance plans provide coverage for mental diseases, such as depression, anxiety, Psychosis, etc.

When purchasing family health insurance, it's important to carefully read the details in the policy documents. Especially focus on those regarding what the policy does not cover. Also, it is important to check the waiting periods under the policy. Family health insurance plans in India generally do not cover the following medical expenses:

• OPD treatments and routine medical check-ups.
• Expenses incurred on aesthetic treatment or plastic surgeries.
• Expenses incurred on life-support machines and equipment.
• Coverage for treatment abroad is included in the plan.
• Any illness or injury resulting because of war, nuclear reaction, rebellion, acts of foreign enemies, etc.
• Injury or illness because of participation in criminal or unethical activities.
• Pregnancy or childbirth-related complications.
• Coverage for pre-existing medical history is not available until the waiting period is over.

Every family health insurance plan comes with acceptable criteria that vary from one plan to another. The following table shows a standard acceptable criterion for family health insurance plans in India:

Several types of waiting periods are applicable in family health insurance plans. To understand what they imply, please read below:

• Initial Waiting Period - This is a specific waiting period after the issue of the policy. It applies to family health insurance policy holders before making any claims. This is also known as a cooling-off period.
  All family health insurance plans come with a standard waiting period of at least 1 month and a maximum of 90 days. The only exception to this initial waiting period is the claims related to accidents.


• Pre-Existing Diseases (PED) Waiting Period - This is a special waiting period for certain pre-existing diseases. The health insurance policy holder discloses these conditions at the time of purchasing the policy. According to the Insurance Regulatory and Development Authority of India (IRDAI), a pre-existing disease is any health condition, illness, disease, or injury. It must be diagnosed within 48 months before purchasing the family health insurance policy.


• Waiting Period for Specific Diseases - Several diseases like hernia, tumor, ENT disorder, cancer, stroke come with specific waiting period in health insurance policies. The waiting period for family health insurance plan covering these diseases usually ranges between 2 years and 4 years.


• Maternity Waiting Period - Under family health insurance plans, policy holders can get maternity and newborn baby cover as add-on. Many family health insurance plans that come with an in-built maternity cover. But the cover comes into effect only after completing a waiting period of 2 years to 4 years.


• Waiting Period for Bariatric Surgery - Some family health insurances plans cover bariatric surgery too.


• Waiting Period for COVID-19 - To avail coverage benefits, such as hospital care and treatment under COVID-19 plans. The family health insurance policy holder needs to complete a waiting period of up to 30 days.

A plethora of family mediclaim policies in India, which makes choosing the best plan a difficult task. You can save your time by comparing the quotes of different family health insurance plans online at securenow.in. Let’s look at some of the reasons why you should consider buying a family health insurance plan online:

• More Convenient- Buying an online health insurance policy for your family is a convenient process now a days. You can easily compare various plans or get expert advice anytime, anywhere. Besides, you don’t need to fill up multiple forms at the time of buying the plan or stand in a queue to submit them.


• Instant Quotes - The process of buying a family health insurance plan online is quick. Instant quotes from various insurance companies are readily available for consideration. You can compare the quotes with each other to assist in choosing the best plan within your budget.


• Safe Payment Modes - As the world has turned digital, people prefer online payment over cash or cheque to reduce the risk of fraud. Digital payment options, such as debit cards, credit cards, net banking etc. with safe payment gateways are available.


• Instant Policy Issuance - Gone are the days when you had to wait for weeks to get your policy document. When purchased online, the issuance of your policy will be instant almost.


• Online Access to Policy Services - Upon the purchase of a family health insurance plan. You can easily access policy documents and avail after-sales services online or by downloading the mobile application. You can also raise a health insurance claim online through the insurers’ website.

You can file a health insurance claim in two ways – 1) Cashless claim and 2) Reimbursement claim. Below, we provide the procedure for filing a claim of both types:

Cashless Claim Process:

• Inform your insurance company about the health emergency
• Fill up the pre-authorization form, which you can find at the TPA or insurance desk of the network
• Submit the pre-authorization form with other documents to the hospital who will forward it to your insurer
• Upon approval of claim request, claim management team of your insurer will provide you with a letter of approval.
• If there is any query regarding your claim, then the insurance company will contact the hospital for the same.
• If it is not approved, you will need to request reimbursement.
• Once approved, receive the treatment at the hospital and sign all the documents before discharge.
• Your insurer and the network hospital will coordinate to settle your medical bills

Reimbursement Claim Process:

• Timely and promptly Intimate your insurer about your medical emergency
• Receive the required treatment at a non-network hospital
• Pay the hospital bills, collect, and file all documents at the time of discharge
• Submit the filled-in claim form along with required documents to your insurance provider
• The claim management team of the insurance company will review your claim.
• After verifying your claim, the team will send you a letter of approval or rejection.

Buy a family health insurance policy to cover all your family members. You can conveniently purchase it online through SecureNow Insurance Broker. They assist you to compare multiple health insurance plans online and buy one as per your coverage needs and budget. One can follow the below given steps to buy a family health insurance plan online: 

• Go to the website   www.securenow.in
• Click on the ‘Individual Insurance’ on top navigation on the homepage
• Enter your contact details, such as your name, phone number and email etc.
• Select the age of the proposer
• We will display family health insurance plans from multiple insurance companies for comparison.
• Compare the plans, view plans’ details and choose the best plan for your family’s needs
• Pay the premium for the plan online
• You will receive your family health insurance policy within few minutes 

In case of any query, you can reach out to insurance experts at securenow.in by calling on the toll-free number at +919696683999 or by sending an email to support@securenow.in You can also reach us on Whatsapp +91 9999207828