More often than not, well-being of your family comes to your mind than your own health. You leave no stone unturned to keep your family safe and sound. However, eventualities like illness that you cannot control are always on the cards. The best you can do is to stay financially protected during such hard times by securing a health insurance plan for your family. The beauty of a family mediclaim policy is it covers both your family and you without any particular limit for individual member of your family.
Why family health insurance plans score better than individual plans?
Family health plans get the better of individual health plans in many ways;
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A family floater policy gives you relief from the annoying task of maintaining and keeping track of several insurance policies .
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You don't have to pay for premiums for individual health covers of all members of your family.
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All members of your family have equal share of the entire sum insured amount in a policy year.
Which Family Mediclaim Policy would you choose?
There is no dearth of quality family mediclaim policy in India. With the increasing awareness of the consumers the demand for such health cover is on the rise and a plethora of health insurance providers have come up with family health insurance policies to tap into the growing needs. To trace the best plan out of them you need to assess available policies in terms of many parameters. Coverage on offer is one of the most crucial parameters as most plans cover only individual, spouse and children; but few plans extend the coverage to dependent parents, parents-in-law and siblings as well. Seemingly, all family health policies look the same but they differ on the basis of eligibility, benefits and limitations. You need to ensure that your chosen family medical insurance plan will fit your budget and serve all your purposes in near and distant future.
5 best family medical plans to keep your family safe and secured
India's health insurance gamut is presently brimming with a myriad of family mediclaim policies. After considering various parameters, we have come up with the list of best 5 health insurance plans for your family.
|
Insurer & Product |
Eligibility |
Sum Insured |
Unique Benefits |
Limitations |
|
Apollo Munich – Optima Restore Family |
Maximum 6 members including spouse, dependent children, dependent parents / parents in law between 5years and 65 years, dependent children from 91 days |
Rs. 3 Lakh, 5 Lakh, 10 Lakh, 15 Lakh, 20 Lakh, 25 Lakh and Rs. 50 Lakh |
No sub limit on room rent No co-pay is required Pre-existing condition is covered after a waiting period of 3 years Restore Benefit is available Multiplier Benefit is available Critical Advantage Rider is available for Sum Insured of Rs 10 Lakh and above. |
Free health check-up is not available up to Sum Insured Rs 15 Lakh Non-alopathic treatment, dental treatment and Pregnancy are not covered 2 years waiting period for specific diseases like cataract, hernia, joint replacement surgeries, surgery of hydrocele |
|
ICICI Lombard - -iHealth Plan |
self, spouse, dependent parents, dependent children, brothers and sisters. Minimum age – 3 months, no upper limit |
Rs. 3 Lakh to Rs. 10 Lakh |
No sub limit Lifetime renewal available No medical test required below 46 years Free health check-up (2 times a year) Dietician & nutritionist consultation No Claim Bonus available |
Non-alopathic treatment, dental treatment and Pregnancy are not covered Domiciliary expenses not covered 4 years waiting period for pre-existing diseases, 2 years waiting period for specific diseases like cataract, hernia, renal stones etc |
|
Cigna TTK - Prohealth |
91 days for children and 18 years for adult. There is no maximum age limit for entry |
Rs 4.5 Lakhs, Rs. 5.5 lakhs, Rs. 7.5 lakhs and Rs. 10 lakhs |
Maternity, New-Born Expenses & Vaccination Cover Worldwide Emergency Cover Health Maintenance Benefit Restoration of Sum Insured Cumulative Bonus for No Claims Free health check-up available Pre-existing condition is covered after a waiting period of 3 years |
20% co -pay for people over 64 years of age For Sum Insured 10 Lakhs medical check-up is applicable for insured aged 41 years and above |
|
Max Bupa - Companion |
Entry age for adults is 18 years onwards, 91 days to 21 years for children. Coverage available for up to 19 relationship |
Variant 1 – Rs. 2 Lakh, 3 Lakh, 4 Lakh Variant 2 – Rs. 5 Lakh, 7.5 Lakh, 10 Lakh, 12.5 Lakh Variant 3 – Rs. 15 Lakh, 20 Lakh, 30 Lakh, 50 Lakh and Rs. 1 Crore |
Lifetime renewal available No Claim Bonus available No sub-limit for pre and post hospitalization and domiciliary expenses No Limit on room rent Restoration of Sum Insured available Free Health check-up available Non-alopathic treatment covered Vaccination for Animal Bite covered Coverage for all day care procedures available Coverage available for all AYUSH (Ayurveda, Unani, Siddha and Homeopathy) treatment available |
20% co-pay is applicable for policyholders seeking treatment in zone 1 hospitals, however, policyholders can avail 10% discount by going for this option. |
|
Star Health - Comprehensive |
3 months to 65 years, no exit age as the plan comes with lifetime renewal option Coverage available for HIV + persons whose CD 4 count is not less than 350 at entry point. |
Rs. 5 Lakh, 7.50 Lakh, 10 Lakh, 15 Lakh, 20 Lakh, 25 Lakh |
Coverage for delivery Min. Rs. 10,000, Max. Rs. 40,000 based on sum insured New Born Baby cover Min. Rs. 50,000 and Max. Rs. 1,00,000 based on sum insured Restoration of Sum Insured available Coverage for outpatient dental and ophthalmic treatment (Min. Rs. 5000 and Max Rs. 10,000) based on sum insured Coverage for health check-up Min. Rs. 5000 and Max. Rs.12,000. Coverage for Bariatric surgery available Air Ambulance cover available from Sum Insured Rs. 7.5 Lakh. |
Non-alopathic treatment, Naturopathy treatment and Pregnancy are not covered Treatment outside India not covered 10% co-payment is applicable for for each and every claim made by policyholders over 60 years at entry level and renewals thereafter. |
Source: Insurance companies' portals
Conclusion:
Before purchasing a family health insurance plan, you should not only keep abreast of the benefits and features but you should also be aware of the limitations of each of these plans. Family health plans are ideal to cover the expenses of treating diseases but these plans are not effective for people with critical illness that make them unable to earn for a longer period of time. Family health plans unlike critical illness covers don't provide lump sum amount in the event of permanent or temporary disability of policyholders. This is why you should have a clear idea about the coverage and exclusions of the family health policy.
To find a family mediclaim policy that comes with adequate sum insured amount, wide coverage, lenient eligibility and least number of exclusions you have to compare various plans. At GIBL, you can compare, select and buy your favorite family medical insurance plan. Avail your policy today and make your family members realize one more time that you care.
