No Room Rent Capping | No Medical Check-up up to 55yrs | Tax Benefit up to Rs.75,000 | Buy Health Insurance starting @ ₹160 pm Check Plans

Secure the well-being of your loved ones and avoid medical worries with a robust family health insurance plan. On Bajaj Markets, you can compare different policies offered by various insurers, and choose a plan with premiums starting from just ₹160 per month.

 

Opt for insurance plans that cover doctor visits, specialists, and even preventative care. These policies allow you to breathe easy, knowing you can address all your family’s healthcare needs with a safety net in place.

Understanding Family Health Insurance

A family health insurance plan covers the medical and hospitalisation expenses of various family members. Having it means avoiding overreliance on your savings for healthcare and ensuring you get the best treatment possible. 

 

Under it, you can include yourself and your spouse, parents, children, or any other dependent family member by paying a common premium. Any insured member of the family can use the sum insured under this policy partly or entirely to cover their medical bills.

Health Insurance Plans for Families Available on Bajaj Markets

While ensuring your family’s well-being is paramount, it is equally crucial to look for affordability when choosing an insurance plan. Here are policies you can choose on Bajaj Markets:

Plans Available 

Hospitalisation Cover 

Starting Premium

Bajaj Allianz Family Health Care 

₹2 Lakhs to ₹50 Lakhs

₹266/month

Care Health Insurance Plan

Up to ₹50 Lakhs

₹672/month

Disclaimer: The above-mentioned premiums are indicative and may change subject to changes in the insurer's policies.

Get the Health Insurance Coverage of Your Choice

Insurance companies allow you to choose and tailor coverage that best fits your family’s needs. To begin, consider your family’s medical history.

 

Ensure that your plan covers any condition your family members have or have a chance of developing. Before you sign up, compare its features with those of other health policies. 

 

If a family member has a pre-existing disease (PED), choose a policy that covers it and check the waiting period. This can vary from 2 to 4 years, and you can request a claim for expenses related to these conditions only after this period ends. Go for a policy with the shortest waiting period.

Benefits of Getting Health Insurance Plans for Family

Having a family insurance policy can be useful in emergencies and for planned procedures. Some of the advantages you can enjoy by opting for comprehensive or mediclaim insurance for your family include:

  • Avoiding Financial Stress

Since the insurance provider will cover medical treatment costs for all insured family members, you need not worry about arranging the necessary funds. Rising medical inflation can lead to financial burdens, which you can avoid with such an insurance plan. 

  • Getting Access to Quality Medical Care

These policies allow insured family members to access timely and high-quality medical assistance without financial constraints. They also ensure that you get preventive care, such as vaccinations and annual screenings, to prioritise your health as a family.  

  • Paying Cost-Effective Premiums

The biggest benefit of a family health insurance plan is that it covers your entire family with just one premium. Since the sum insured is shared, you need not pay separate premiums for each family member. This makes these plans much more feasible. 

  • Getting Flexibility 

Family insurance plans allow you to include new members under the same plan without any hassles. 

  • Enjoying Income Tax Deductions

These policies also serve as a highly effective tax-saving tool. Under Section 80D of the Income Tax Act of 1961, you can claim deductions of up to ₹1 Lakh for yourself and your family. This also includes an annual deduction of up to ₹5,000 for expenses related to regular health check-ups. 

  • Getting Cashless Treatment 

With the latest update by the General Insurance Council in January 2024, you can now get cashless treatment at both network and non-network hospitals. As long as you comply with the guidelines, your out-of-pocket expenses can be reduced drastically.  

  • Covering COVID-19 Care

Insurance companies have included financial assistance for coronavirus in their policies since the pandemic. Medical insurance for families covers general hospitalisation and treatment expenses resulting from COVID-19 as long as it is not a pre-existing illness.  

  • Boosting Coverage With Add-ons

They help you enhance the coverage of your family health plan with only a minimal increase in the premium. Some popular add-ons available include maternity cover, critical illness cover, and daily cash allowance.

  • Getting a No Claim Bonus

If you do not raise a claim in a particular year, health insurance companies may offer you a reward. Known as NCB, you can get its benefit as an increase in the sum insured with no additional premium.

Inclusions in a Family Health Insurance Plan

Here are some expenses commonly covered under a medical insurance plan for families:

1. Pre- and Post-Hospitalisation Charges

Ranging from 60 to 180 days before and after hospitalisation, insurance policies cover a variety of costs. These include expenses relating to tests, doctor’s fees, and post-surgery hospital visits.

2. Annual Health Check-Ups

Some family health insurance plans offer complimentary health tests every year for all insured members. This ensures early detection and treatment of ailments.

3. Day Care Treatment

These plans also cover expenses relating to health conditions that require hospitalisation for less than an entire day. These include dialysis, eye surgery, and more. 

4. Advance Treatment Charges

Certain insurance plans also include coverage for robotics surgeries and other cutting-edge therapies at specialised healthcare centres.   

5. AYUSH Treatment

AYUSH stands for Ayurveda, Yoga, Naturopathy, Unani, Siddha, and Homeopathy. If you opt for them, some medical plans for families cover their expenses too. 

6. Ambulance Cover

These insurance plans also relieve you from other minor healthcare-related expenses. These also include ambulance charges so that you do not have to worry about smaller costs. 

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Exclusions in a Family Health Insurance Plan

Many insurance plans do not cover expenses arising due to certain medical conditions. Here are some of the ailments that are generally excluded:

  • Self-inflicted injuries, like suicide or attempted suicide

  • Diseases or ailments that require treatment within 30 days of the start of the policy date

  • Expenses of treatments for issues arising due to alcohol, drug, or other addictive substance use, misuse, or abuse

  • Treatments relating to pregnancy, childbirth, miscarriage, abortion, or other such procedures

  • Tests and treatments relating to fertility and in-vitro fertilisation

  • Hospitalisation expenses due to injuries from strikes, war, riots, or nuclear weapons 

  • Cosmetic and plastic surgeries are not considered a necessary medical expense unless under certain circumstances, so they are not covered 

  • Any treatment taken outside the country 

 

Some insurance policies do not include pre-existing medical conditions. It is best to check your policy document to ensure the features and terms suit your family’s and your expectations. 

Eligibility Criteria to Get a Family Health Insurance Plan

Here are the requirements to meet to qualify for a family health insurance policy:

  • While the minimum entry age for an adult is 18 years, a child aged as young as 90 days can also be insured

  • You can include yourself, your spouse, children, and parents in this type of insurance plan

Reasons to Get Health Insurance Plans for Family Online

Here is why getting this policy online is beneficial: 

  • Access to multiple options for informed decision-making

  • Instant access to the policy document

  • Quicker and more convenient as you do not have to visit multiple branches

  • Available around the clock, with no working-hour limitations

  • Safe and secure premium payments

  • Cost-effective due to lack of agent commission and administrative costs

  • Some insurance companies allow lifelong entry and renewal online 

Explore Other Health Insurance Plans Available on Bajaj Markets

Here are other medical insurance policies you can get on the platform:

Plans Available 

Hospitalisation Cover 

Starting Premiums

Aditya Birla Health Insurance

Up to ₹1 Crore

₹433/month

TATA AIG Health Insurance

Up to ₹2 Crores

₹612/month

Disclaimer: The above-mentioned premiums are indicative and may change subject to changes in the insurer's policies.

Things to Consider Before Getting a Family Health Insurance Plan

The following are some of the aspects you should remember to get the best health insurance for your family: 

1. Coverage

Every insurance policy covers standard medical expenses, like hospitalisation costs and ambulance charges. However, coverage can vary as per your policy and the insurer. Read and understand the fine print to better know your policy’s coverage before you zero in on a plan.

2. Insured Sum Enhancement

Medical inflation is increasing, and you may need to adjust your sum insured accordingly. Ensure your insurer gives you the option to increase your coverage amount during renewals. 

 

Some insurers offer a bonus of up to 100% appreciation of the insured amount if you have not filed a claim during the policy period. This further helps enhance your coverage, so check if your chosen plan offers this benefit. 

3. Network Hospitals

Now that you can get cashless service at both network and non-network hospitals, checking this list may not seem important. However, evaluate it as getting treatment at preferred hospitals in your insurer’s network can result in quicker settlements. 

4. Renewal Conditions

The age of the eldest member of the family influences the policy premium and renewal. For instance, some insurers may not allow renewal if the eldest member is a senior citizen, i.e., above 60 years. Check the conditions and opt for a plan offering a lifelong renewal facility.

5. Claim Settlement Ratio

Insurance companies promise quick and hassle-free settlement. However, check the claim settlement ratio and the time taken to settle them. Go for those with higher ratios and quicker turnaround time. 

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How to File a Claim for a Family Health Insurance Plan

Here are the general steps to file a cashless claim or request reimbursement:

  • Cashless Claim:

  1. Notify your insurer about the situation and visit a partner or non-network hospital

  2. Submit details of your family health insurance plan and complete the pre-authorisation form

  3. The insurer verifies the form, informing the hospital about your policy details

  4. Upon discharge, the hospital provides documents, such as bills and discharge papers, to the insurer for processing

  5. The claim will then be directly settled with the hospital after considering co-payment, if any

  • Claim Reimbursement

  1. Share all original medical documents, hospital bills, and other documents with duly filled insurance claim forms with your provider

  2. Wait while the insurer evaluates the details and furnish additional information, if required

  3. Your claim decision will be determined after verification

  4. You will then receive the claim amount based on the policy terms and conditions

Health Insurance Plans Available at Bajaj Markets

FAQs and Support

What is the difference between individual and family floater health insurance?

A family health insurance plan covers all family members with one premium and one coverage limit. On the other hand, an individual policy covers the medical expenses of only one individual with one premium.

I am already covered under a corporate health policy. Do I still need a separate health insurance plan for my family?

Yes. Corporate health plans often have limited coverage, which may not be adequate for your and your family’s medical needs.

How long can my child stay on family health insurance?

Dependent children can stay on a health insurance plan for a family starting from 90 days until they reach 25 years of age. 

Is there any waiting period for family health insurance plans?

There may be an initial waiting period of 30 days. During this period, you cannot make any claim for treatments.

How many members can be added to health insurance for a family?

There is no limit on how many members you can add to health insurance for your family. Apart from yourself, you can add your parents, spouse, dependent children, and parents-in-law. Remember, adding new members will add to the premium amount.

Is the cashless facility covered under a family health insurance plan?

Yes, family health insurance also comes with a cashless claim facility. Contact the insurer, convey the situation, and visit a network or non-network hospital to benefit from it.

What is the right age to buy a family health insurance plan?

If you can afford it, get this insurance policy when you turn 18 years old. Opting for health insurance at a younger age makes more sense because age is the most important factor that determines the premium amount.

 

Since younger people are less vulnerable to health issues, you can enjoy lower premium payments and save significantly.

Can a new baby be added to a family health insurance plan?

Yes, but it depends on your insurer and policy. Most insurers allow you to add a newborn baby which is at least 90 days old to a family health insurance policy. 

What will be the average premium for health insurance for a family of 4 members?

The cost of health insurance worth ₹10 Lakhs for a family of 4 members ranges from ₹10,000 to ₹35,000. It depends on several factors, such as the number of members added, the type of coverage, and the age and health of the insured members.

How to choose health insurance for a family?

To get the best health insurance for your family, check the benefits and coverage that the policy offers. Consider pre- and post-hospitalisation inclusions, premium and all exclusions. Choose a policy that offers maximum benefits at an affordable cost.

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