Family Health Insurance

Family health insurance is a type of health insurance designed to offer financial coverage for the healthcare expenses of an entire family. You can even add new members to your family at different life stages, like your spouse and your in-laws when you get married or your newborn baby when you become a parent. 

No Room Rent Capping | No Medical Check-up up to 55yrs | Tax Benefit up to 75k | Buy Health Insurance starting @ ₹244 pm

What is Family Health Insurance and How Does it Work?

Family health insurance is an insurance plan that covers and compensates the medical expenses of the entire family. The insurance plan offers coverage and compensation to family members of different age groups that include maternity care, organ transplantation, cardiovascular ailments, etc.

 

Family health insurance is an umbrella that takes care of medical treatments and emergencies making it a profitable deal in comparison to individual health insurance plans. The policyholder can also add new members of their family to the plan with a minimal hike in the premium amount. 

Best Health Insurance Plans for Family in India on Bajaj Markets in 2022

Family floater health insurance plans at Bajaj Markets are highly flexible. Here are the best family health insurance plans from leading insurance companies on our platform: 

Plans Available 

Hospitalisation Cover 

Starting Rate of Premiums 

Check Plans

Bajaj Allianz Family Health Care 

₹2 Lakh to ₹50 Lakh

₹3,198

Care Health Insurance Plan

Up to ₹50 Lakh

₹4,471

Disclaimer: Premium rates mentioned for the above family floater health insurance plans are not constant and subject to change over time. 

Buy/Renew Family Health Insurance Plans Online 

Most insurance companies have now moved online. While you can still buy insurance policies by visiting the insurer’s office, the online process is more streamlined and quick. Here’s how you can purchase or renew the best family health insurance plans in India online: 

1. Steps to Buy Family Health Insurance Online 

  • Step 1: Scroll up to the top of this page and click on ‘Check Plans’
  • Step 2: Provide the necessary details about the family members you wish to insure and your personal information.

  • Step 3: Pick from the list of available health insurance plans for families. You can also select add-on covers to enhance your coverage.

  • Step 4: Finally, upload the required documents and make the health insurance premium payment online.

  • Step 5: And voila! Your insurer will send the policy document via email shortly.

Benefits of Family Health Insurance

Here are a few benefits of buying a family health insurance plan:

 

  • Cost-Effective Premium -Your entire family is covered under a single health insurance plan. It saves you from paying separate premiums against individual health plans for each family member. Family health insurance plans are much more feasible as compared to buying individual plans for your loved ones.

  • No Need to Manage Multiple Plans - Handling the premiums and insurance claims made against individual healthcare plans for your family members can be daunting. However, with a family floater plan, you only have to manage one plan.

  • Flexibility to Add More Members - Under individual plans, you are compelled to buy a new health insurance policy every time you want to include a new member. However, family health insurance plans allow you to include new members under the same plan in a jiffy.

  • Income Tax Deductions -Health insurance is one of the most effective tax-saving instruments. Family health insurance and individual plans allow tax deductions under Section 80D. You can also claim an annual deduction of up to ₹5,000 for expenses incurred on regular health check-ups. It includes check-up expenses for the entire family, including self, spouse, children, and parents. 

  • Cashless Treatment Facility - Insurance companies tie up with hospitals and laboratories  to deliver cashless treatment and service facilities to the policyholders. Under the family health insurance policy plan, all the registered family members can avail of cashless treatment facilities at network hospitals without any financial stress.

  • COVID Care - After the pandemic, insurance companies have included financial assistance for coronavirus as well.  ‘Corona Kavach Policy’ is a specific insurance plan launched to provide monetary assistance during the pandemic, however, the family health insurance plan covers general hospitalisation and treatment expenses under the COVID care feature for all family members.

  • Additional Benefits – The policyholder can include add-on benefits with a minimal hike in the premium commonly termed as riders. Some of the popular riders that one can include in the family health insurance are maternity cover, critical illness cover, etc.

Inclusions & Exclusions Under Family Health Insurance

Choosing an appropriate family health insurance plan is an overwhelming task. You must double-check factors like ‘what is covered’ and ‘what is not covered’. Medical insurance for families must include multiple factors like pre-hospitalisation expenses, maternity coverage, ayurvedic treatments, and more. Here are a few things that your family health insurance plan should cover -

Inclusions 

Exclusions 

Complimentary health check-ups once in three years.

Routine check-ups or OPD treatments are not generally covered unless specifically mentioned by the insurance company.

Coverage for pre and post-hospitalisation expenses including ICU room rent, consultation, etc.

Cosmetic treatments, plastic surgeries, etc. are not covered under family health insurance.

Under the maternity care feature, the plan offers coverage for ₹25,000 for normal delivery and ₹35,000 for caesarean delivery.

Any ailment or injury that can be categorised as intentional self-harm will not be covered under family health insurance.

Treatment and medical expenses regarding organ donation are covered in the policy plan.

Any ailment or injury caused while pursuing criminal or unethical activities will not be covered by the insurance plan.

Reinstatement benefits can be availed on the same illnesses with 100% coverage of the sum insured.

Pre-existing illnesses  are those medical ailments that are existing before the purchase of the insurance plan.

Generally, pre-existing illnesses are not covered under insurance plans. In case, the family health insurance policy offers coverage for a pre-existing illness, the policyholder will have to complete the waiting period. 

The family health insurance plan offers coverage up to ₹20,000 for Homoeopathic/ Ayurvedic treatments.

Ventilator or life-support machine expenses are not included in a family health insurance plan.

For 10+ days of continuous hospitalisation, the policy plan offers convalescence benefits of up to ₹7,500.

Coverage for overseas medical treatments, unless specifically mentioned in the policy.

Points to Consider While Purchasing Family Health Insurance 

Before purchasing a family health insurance plan, there are certain pointers that one must take into consideration -

 

  • Policy Coverage - Every family health insurance plan covers hospitalisation expenses, ambulance charges, etc. however, there are certain terms and conditions about coverage limit that people fail to read before purchasing the plan. Therefore, it is advisable to learn about policy coverage before opting for any family health insurance plan.

  • Insured Sum Enhancement Option - Due to inflation, there is a hike in medical treatment and service expenses every year. In such a scenario, the insured sum enhancement option allows the policyholder to increase the insured amount during policy renewals. Some insurance companies offer a 100% appreciation in the insured amount as a cumulative bonus for claim-free years.

  • Network Hospitals - Insurance companies claim a wide network of hospitals where policyholders can avail of cashless treatment facilities to eliminate financial stress, especially during medical emergencies. However, one must locate and evaluate the services of the nearest network hospital before purchasing the family health insurance plan.

  • Renewal Conditions - The policy premium and renewal of the family health insurance plan are influenced by the age of the eldest member of the family. Some insurance companies or vendors do not offer renewal facilities to policyholders if the eldest member of the family turns 60+. Therefore, one must check the renewal conditions and opt for a family health insurance plan offering a lifelong renewal facility.

  • Claim Settlement Procedure - Insurance companies promise quick and hassle-free claim settlement procedures, however, one must check the claim settlement ratio and duration of the insurance companies before purchasing an insurance plan. 

Get to Know How You Can Save Tax on Family Health Insurance

Purchasing a family health insurance plan helps the policyholder to save a bit from their tax liabilities. Here are certain tax benefits that one avail on family health insurance -

 

  • For single premium family health insurance plans, the policyholder can avail of annual tax benefits of up to ₹1 Lakh under the Income Tax Act of 1961.

  • Purchasing family health insurance plans that include parents comes with tax deductions of ₹25,000 and in case, parents are senior citizens members the policyholder can avail of tax deductions of ₹30,000 every financial year.

  • Annual health preventive check-ups have tax benefits of up to Rs. 5,000.

Why Choose Family Health Insurance via Bajaj Health Insurance

It is important to choose an insurance company where you can place your trust and faith during tough times. Bajaj Markets promises to deliver hassle-free services and seamless financial assistance to its policyholders so that they are not financially stressed during medical emergencies.  Here is a list of reasons why one must purchase family health insurance via Bajaj Markets - 

 

  • Coverage on Medical Expenses - The hospitalisation expenses, ICU room rent, daycare costs, ambulance charges, etc. are all covered under Bajaj health insurance for a family policy. Bajaj Markets will directly settle the medical bills at their network hospitals eliminating financial hassles in the hospital.

  • Coverage for AYUSH Treatments - Bajaj health insurance plans cover the expenses of Homeopathy, Naturopathy, Ayurvedic, Unani, Siddha, and various other treatments. 

  • Wide Network of Hospitals - Bajaj Markets have merged with the best hospitals across the nation to ensure premium services and facilities to their policyholders during medical emergencies. The policyholder will no longer have to compromise with the medical facilities due to budget constraints.

  • Health Check-ups - Bajaj health insurance offers coverage and compensation for a routine check-up that allows the policyholders to analyse their health and take precautionary measures.

  • Insured Sum Enhancement - Policyholders can increase their insured sum amount to beat the inflation in the healthcare sector on policy renewal.

  • Reduces Tax Liability - Bajaj health insurance offers all the tax benefits mentioned in Section 80D of the IT Act of 1961 to its policyholders.

  • Discounts on Premium Payments - No-claim bonus points can be redeemed in the form of discounts on premium payments, which eventually reduces the overall price of the family health insurance.

Eligibility Criteria to Buy a Family Health Insurance Plan

Every family health insurance plan comes with eligibility criteria. Although the eligibility criteria vary from one plan to another, the following table shows the common eligibility criteria for family health insurance plans in India -

Categories

Details

Minimum Entry Age

For Adults: 18 years

For Children: 90 days

Maximum Entry Age

For Adults: 65 years

For Children: 25 years

Family Members Covered Under the Plan

Self, spouse, dependent parents, dependent children, and parents-in-law

Renewability

Lifetime

Family Health Insurance Claim Process 

Now that you have a family health insurance plan, how should you raise a claim during medical emergencies? There are two types of claim settlement processes–cashless and reimbursement claims. Here’s a complete guide on how to file health insurance claims.

1. How to File Cashless Claims

  • Step 1: Inform your insurer about the situation and visit a partner hospital.

  • Step 2: Submit family health insurance plan details and take the pre-authorisation form.

  • Step 3: The insurer then verifies the form, and the hospital is notified about the policy details.

  •  Step 4: Once discharged, the hospital will share documents like bills and discharge papers with the insurer.

  •  Step 5: The claim will then be directly settled with the hospital after reducing the co-payment (if any).

2. How to Get a Claim Reimbursement

  • Step 1: Share all original medical documents, hospital bills, and insurance claim forms with the insurer. 

  • Step 2: The insurer evaluates the details and may ask for any additional information if required.

  • Step 3: Your claim decision is made post-verification.

  • Step 4: You will receive the claim amount based on the policy terms and conditions.

Documents Required for Filing an Insurance Claim 

Here’s a list of documents you need to submit for raising an insurance claim: 

 

  • Duly filled claim form

  • Original copy of hospital discharge summary or card

  • Prescription and cash invoices from pharmacies and the hospital

  • An investigation report by the doctor

  • Medical Certificate

  • Family health insurance policy document

  • In case of an accident, FIR or Medico Legal Certificate (MLC)

Best Health Insurance Plans Available at Bajaj Markets

FAQs

  • ✔️What is Family Health Insurance?

    Family floater health insurance is a healthcare policy that covers you and your entire family under one plan. So, instead of paying multiple premiums for different plans, you can make a single payment to protect yourself and your loved ones.

  • ✔️What is the difference between family health insurance and family floater health insurance?

    Family health insurance plans come at a higher premium rate since it covers the whole family. On the other hand, the best family floater health insurance plans in India cover the insured, spouse, and children. However, a few plans extend to parents and your parents-in-law as well.

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

    Yes. Despite having a corporate health policy, you must buy health insurance for your family. Your corporate health policy most likely covers only you. In case it covers your family as well, the coverage offered by your workspace can be insufficient. Moreover, with a corporate health plan, you do not get the option of customising the policy as per your family's needs.

  • ✔️Can I add family members to the existing plan?

    Yes. You can easily add family members to the existing plan.

  • ✔️How long can my kid stay on family health insurance?

    Sons can legally remain under their parent's family health insurance plan until they turn 26 years old. Unmarried or divorced daughters can enjoy their parents’ health plans for endless years.

  • ✔️Is there any waiting period in family health insurance plans?

    Yes, family medical insurance comes with a waiting period of 30 to 90 days.

  • ✔️Can I get tax benefits under family health insurance plans?

    Yes. You can get income tax deductions under Section 80D towards family health insurance premiums.

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

    The maximum limit on the number of members allowable in a family health insurance plan differs from insurer to insurer.

  • ✔️Who all are covered under a Bajaj Allianz family health insurance plan?

    Health insurance for families available on Bajaj Markets covers self, spouse, parents, and up to 4 dependent children.

  • ✔️If I have a kid who is 3 years old, can I take a Bajaj Allianz family health insurance policy for her?

    Children can be covered with either of the parents in a policy but are not covered individually in health insurance plans. Dependent children from the age of 3 months to 30 years are covered under family health insurance plans.

  • ✔️How much to spend on health insurance for a family of 4?

    An estimate of ₹1,700- ₹2,500 per month needs to be spent on a family floater health insurance plan for 4 members.

  • ✔️Is a family health insurance or an individual health plan better?

    Purchasing a family health insurance will be a more profitable deal than an individual health insurance plan. Family insurance plans will cover the medical expenses of all the members whereas individual health insurance plans take care of only a single person’s medical expenses. The premium total of multiple individual insurance plans will be comparatively higher than the premium of family health insurance.

  • ✔️How does a family health insurance plan function?

    In a family health insurance policy, a fixed insured amount is designated to cover the medical expenses of the family members. The insured claim gets depleted with every claim. The policyholder will not be able to make further claims after the exhaustion of the insured amount. To avoid this, the policyholders can avail restore benefit feature, to restore 100% of the insured amount. 

Health Insurance Reviews

Health Insurance Reviews

4.5out of 5

7 reviews

Great Service. Keep up The Good Work

The best Health Insurance Company, which has no lengthy process to clear the claims. I applied for a Bajaj family health insurance, my policies got renewed immediately, and the claim is also done in a stipulated time.

The Best Health Insurance Plan for Your Family

Already referred to various family members. I would never change my policy even if I have to pay a few extra bucks. Undoubtedly the best place to get a family health insurance. Thank you so much for your support.

Trustworthy Health Insurance Plan

The Bajaj Allianz health insurance team responded to the initial claim request within hours and the final approval was done in no time. They have customer friendly policies and the customer support team is very good. Overall service was very good, keep it up.

Great help during emergencies

My family health insurance helped me a lot when my daughter was hospitalized for an emergency. The quick response and support is really appreciated.

Customer Support is great!

Bajaj MARKETS is a very easy platform. When I explored the family health insurance plans available and applied for one, the executive explained the process very nicely, making it easier.

Happy with the customizable family health insurance plan

The Family Health Insurance policy by Bajaj Allianz is a very extensive coverage plan, which made it easy for me to pay my medical bills during my recent hospitalization. With such customization available at affordable premium, I would definitely recommend it to my friends and relatives.

Excellent service provided!

The Bajaj Allianz family health insurance plan was a right choice when I was looking for a complete medical coverage. The cashless claim facility offered with the family health insurance plan was something that caught my attention!