✔️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.

Health Insurance Plans For Family

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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

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

Best Family Health Insurance Plans in India 2023

Family floater health insurance plans at Bajaj Markets are highly flexible. Here are some of the best family health insurance plans from leading health 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	CHECK PLANS
Care Health Insurance Plan	Up to ₹50 Lakh	₹4,471	CHECK PLANS

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

Benefits of Buying Family Health Insurance

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 health insurance 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 plans 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 family health insurance plans, all the registered family members can access cashless treatment facilities at network hospitals without any financial stress.

COVID-19 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 pandemic. However, medical insurance for family covers general hospitalisation and treatment expenses under the COVID-19 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.

Family Health Insurance at Bajaj Markets

What is covered & not covered in Family Medical Insurance Plan?

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 are not covered, unless specifically mentioned in the policy.

Points to Consider While Purchasing Family Health Insurance Plans

Policy Coverage -

Every family health insurance plan covers hospitalisation expenses, ambulance charges, etc. However, there are certain terms and conditions about coverage limits 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 -

Year by year, medical treatment and service expenses continue to increase steadily. 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 opt for 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.

Steps to Buy Family Health Insurance Plans 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 along with your personal information
Step 3: Choose 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

Documents Required for Filing 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)

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

Purchasing a family health insurance plan can help you save a bit from their tax liabilities. Here are certain tax benefits that one avail of family health insurance.

For single premium family health insurance plans, you can be eligible for 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. If parents are senior citizens, you can apply for tax deductions of ₹30,000 every financial year.
Annual health preventive check-ups have tax benefits of up to Rs. 5,000.

Eligibility Criteria to Buy a Health Insurance Policy for Family

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

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)

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

Why Choose Medical Insurance For Family 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.

Coverage on Medical Expenses -

The hospitalisation expenses, ICU room rent, daycare costs, ambulance charges, etc. are covered under 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 -

Health Insurance plans cover the expenses of Homeopathy, Naturopathy, Ayurvedic, Unani, Siddha, and various other treatments.

Wide Network of Hospitals -

Bajaj Markets have formed partnerships with great hospitals across the nation to ensure premium services and facilities to their policyholders during medical emergencies. You will no longer have to compromise with the medical facilities due to budget constraints.

Health Check-ups -

Health Insurance offers coverage and compensation for a routine check-up that allows you to analyse your health and take precautionary measures.

Insured Sum Enhancement -

You can increase your insured sum amount to beat the inflation in the healthcare sector on health 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.

Bajaj Allianz Health Insurance	Aditya Birla Health Insurance	Care Health Insurance

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FAQs On Family Health Insurance Plans

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.

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.

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

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.

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

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

Children can be covered with either of the parents in a policy, but they 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.

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

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.

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.

On Bajaj Markets, you can find amazing family health insurance plans from Bajaj Allianz Health Insurance, Aditya Birla Health Insurance and Care Health Insurance. From all the plans offered, you can choose one that best suits your needs and that of your family.

Yes, cashless facilities are covered under Family Health Insurance. You can approach network hospitals affiliated with your insurer in order to claim cashless treatments.

It is best to get Health Insurance as soon as you are eligible. This way you can enjoy

Yes, you can add your newborn baby to your Family Health Insurance policy. However, the minimum age for your baby to be eligible for health insurance is 90 days.

Health Insurance 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.

Rajat

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.

Akshay

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.

Nimesh

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.

Varun More

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.

Viral Mehta

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.

Manish Deo

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!

Nisha Mathur