Family Health Insurance

A family medical insurance policy can prove to be a boon in times of medical emergencies and allow treatment to start immediately and progress smoothly. Family Health Insurance plans are designed to take care of the entire family’s major and minor medical expenses. Comprehensive coverage is offered to all the members included in the family.

You can secure your loved ones against any kind of illnesses or accident with a Family Health Insurance plan at a single annual premium. Comprehensive family health plans offered by Bajaj Finance Ltd. cover your hospitalisation charges, consultation fees, medicines and more. Thus, save time and money with hassle-free medical coverage for your entire family.

Key Benefits of Family Health Insurance Plans

Here’s a glance at the key features and benefits of family health insurance plans:

Sum assured Rs. 1.5 lakh – Rs. 2 Crore
Daycare procedures 586 daycare Procedures
Cumulative bonus 10% to 50% on the sum assured
Tax benefit Included
Ambulance charges (per year) Up to Rs. 20,000
Free preventive tests Every 3 years

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    High sum assured

    Get a sum assured ranging from Rs. 1.5 lakh to Rs. 2 Crore and pay the medical bills of your entire family.

  • Hassle-free payment

    Pay just one single premium amount and get the best medical treatment for the whole family.

  • Save tax

    Save tax under prevalent tax laws.

  • Addition of a member

    Add a family member to your existing family health insurance policy based on the specific policy terms.

  • Add-on benefits

    A range of add-on benefits, covers expenses for organ donors, maternity and newborn baby, bariatric surgery, or even Ayurvedic and Homeopathic hospitalisation under a single policy.

  • No pre-medical tests

    No need to take a medical test if specified in the policy and subject to a clean proposal form.

  • Free annual check-up

    All policyholders are eligible for a free preventive annual health check-up every 3 years, irrespective of a claim.

  • Ambulance charges

    Get a cover for ambulance charges up to Rs. 20,000 in a policy year.

Best family health insurance plans to choose

Here are some of the best family health insurance plans offered by Bajaj Finance:

Family Health Insurance plans About the plan Sum Insured Network Hospitals
Aditya Birla Activ Assure Diamond This family medical insurance plan offers comprehensive coverage against a wide range of health features, making it one of the most optimal investment plans. Up to Rs. 2 crore 8000+
Aditya Birla Group Activ Health Plan It is also one of the best health insurance policies for families, as you can stay covered against major illnesses like Asthma, Blood Pressure, Cholesterol, Diabetes, Hypertension and more. This policy covers all these medical expenses and hospital treatments for all the insured members. Up to Rs. 10 lakh 8000+
Aditya Birla Super Top-Up If you need add-on health coverage for your family, the Aditya Birla Super Top-Up Plan is ideal. The plan allows you to select all the additional advantages that your family requires, which are otherwise unavailable in many family health insurance plans on the market. Up to Rs. 50 lakh 8000+
Bajaj Allianz Health-Guard Health-Guard from Bajaj Allianz is a comprehensive health insurance plan that covers medical costs incurred during hospitalisation due to a major illness , surgery or accident. Up to Rs. 50 lakh 6500+
Bajaj Allianz Global Personal Guard Policy This health insurance policy for families intends to provide worldwide coverage in the event of death, incapacity, or injury as a result of an accident. This policy is exactly what it says it is: a single policy that provides you with a world of protection. Up to Rs. 2 crore 6500+

Eligibility for Family Health Insurance

• The family members are between the age of 18 to 65 years.
• The age of dependent children should be between 3 months to 30 years.

Inclusions of Family Health Insurance Plans

To make an informed decision, one must know the primary inclusions in a health insurance policy for the family. Most family health insurance policies cover the following:

a. Coverage of daycare procedures in hospitals

b. Room rent coverage, hospital registration charges, and service charges, etc.

c. Health check-ups and vaccination expenses of all members

d. Pre and post hospitalisation expenses for up to 30 and 60 days respectively.

e. Critical illnesses cover and assistance services during emergencies

f. In-patient treatment charges for AYUSH (Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homeopathy) covered as per policy

g. Cashless transactions and immediate admission facility in hospitals

h. Tax Benefits on the premium amounts

In addition to these, many other services and expenses are covered in different health insurance plans.

Policy Exclusions under Family Health Insurance

Following expenses are not covered under a family health insurance:

  • Any diseases caused due to the consumption of addictive substances like alcohol, drugs etc.
  • Sexually Transmitted Diseases (STDs) like AIDS or HIV are excluded from Family Health Insurance
  • Policy.
  • Any disease contracted during the first 30 days of the policy period is not covered.
  • Certain diseases will be covered after a waiting period as defined by the policy like pre-existing diseases, joint replacement, prolapsed, herniated, or extruded intervertebral disc (PIVD), and bariatric surgery.
  • Diseases like hernia, piles, cataract and sinusitis shall be covered after a waiting period of 2 years and maternity/newborn baby expenses will be covered after 6 years waiting period.
Note: The exclusions may differ for various plans kindly read the policy wordings before purchase.

Importance of Family Health Insurance

Having family health insurance has become increasingly crucial as medical inflation rises year after year. From minor injuries to major illnesses, from accidental injuries to outpatient procedures, family health insurance comprehensively protects the entire family.

A family health insurance plan covers all members of the family under a single premium. If numerous claims are filed at the same time, the sum assured is divided among all family members. It brings mental peace and freedom to concentrate on treatment and recovery.

Here’s a list of key benefits you can get from family health insurance.

Easier to manage

One of the best things about having family health insurance coverage is that it insures your complete family, including your extended family and in-laws, under one policy.

Keeping your savings intact

An unforeseen sickness can affect a family's financial plans and deplete their funds. A health policy will cover the medical costs while keeping your savings intact.

Reinstatement value

You can get a 100% reinstatement of the sum insured if the sum insured has been exhausted.

Mental peace and freedom to concentrate on treatment and recovery

Whether due to illness or injury, family health care insurance plans handle the bills and payments so that the patient's health, treatment, and rehabilitation can be prioritised.

Protection from medical inflation through the years

Family health insurance will protect you from rising healthcare costs and allow you to receive the best treatments at renowned hospitals.

Why Choose Family Health Insurance Plans from Bajaj Finance

Bajaj Finance brings to you family insurance plans offered by top health insurance providers in the country. It is an established and trusted company known to put customer’s interest at the forefront in all its policies. Bajaj Finance offers comprehensive Family Health Insurance plans that are cost-effective and convenient. Their online customer portal makes it very easy to buy/renew policies or to apply for compensation. Bajaj Finance also has an impressive claim settlement ratio.

Reliable brand name

Bajaj Finance is a name that inspires trust amongst customers. The company has provided efficient and affordable insurance policies in all sectors and consistently has been amongst the top distributors of health insurance plans in the country.

Digital Process

Bajaj Finance’s online customer portal for family health insurance is quick, easy, and secure. This digital platform is informative and interactive with a customer-centric approach.

Easy Claim Process

Just keep the required documents ready, and the claim process will be completed in a short period. The online claim process is accessible and easily manageable for customers.

Why do customers prefer our family health insurance over leading competitor plans?

Here’s why customers prefer us:

  • Our health insurance partners provide cashless facilities for over 6500 + network hospitals.
  • There are around 586 day-care procedures covered under health insurance plans. The number may vary depending on the policy you choose.
  • Our partners have a claim settlement ratio of 98%.
  • You can earn a cumulative bonus between 20% and 50% on the sum insured for claim-free years.
  • The claims are settled within a few minutes.

Mandatory Documents for Family Health Insurance

Here are the documents required of each family member registered under a family health insurance plan:

Age proof:

  • Birth Certificate
  • Passport
  • Aadhaar card
  • 10th or 12th mark sheet
  • Driver’s license
  • Voter ID etc

Address proof:

  • Telephone bill
  • Electricity bill
  • Ration card
  • Passport
  • Driver’s license

Identity proof:

  • Passport
  • Aadhaar card
  • Voter ID etc

Photographs:

Passport size photographs of all members of the family covered in the policy.

Medical reports:

Medical reports if required by the insurer.

How to Apply for Online Family Health Insurance

Applying for health insurance online is quick and easy. Most health insurance sites have a section for online buying and renewing of policies. The process is secure and straightforward and makes buying the family health insurance policy hassle-free.

Here are a few easy steps you can follow to buy or renew a family health insurance plan online.

  • Click on the App Form
  • Fill in the necessary details that include your basic personal details and other requirements
  • Make the fee payment online
  • If required opt for a call back from our representatives or complete the process by clicking on 'Buy Now'

How to raise a claim under family health insurance?

You can file a family health insurance plan claim through the following ways:

For cashless services, follow the below mentioned process:

  • Email or fax the pre-authorization form, which is available at the hospital's third-party administrator or insurance department. You can also get it through the insurer's website.
  • All documentation, including the discharge letter, medical records, diagnostic tests, bills, and so on, must be submitted.
  • If the claim request is authorized, the claim management team will send you a letter of approval.
  • If there are any questions about your claim, the insurance company will contact the hospital.
  • If it's not accepted, you'll have to file a reimbursement claim.

For reimbursement claim, follow the below steps:

  • Submit the claim form, along with any other required documentation, to the address specified when the policy was purchased.
  • You need to address the queries raised by the claim management team of the insurance company.
  • After submitting the form, you will either receive an acceptance or rejection letter.

Save Tax with Family Health Insurance Policy

A family medical insurance can help you save taxes. It gives you a significant tax benefit under section 80D of the Income Tax Act of 1961.

In addition to the medical benefits of family health insurance, the premium paid for the policy also reduces your annual income tax obligation.

  • Your family health insurance plan is eligible for a maximum deduction of Rs. 25,000 per annum against your taxes (provided you are not over 60 years).
  • If you are a senior citizen (over 60 years old), you are entitled to a maximum deduction of Rs. 50,000.
  • The same is applicable if you are paying health insurance premiums for your old parents who are of the age of 60 years or above.

Frequently Asked Questions (FAQ) For Family Health Insurance

1. What is family health insurance?

Family Health Insurance is a comprehensive policy that offers medical cover to all family members under one policy. It is affordable, more efficient, and provides more benefits to the policyholder.

2. Can I include my parents in family floater health insurance?

Parents can be added to the Family Health Insurance Policy. There may be an increase in the premium, depending on their age and pre-existing diseases.

3. What is the difference between Family Health Insurance and Family Floater Health Insurance?

In a Family Health Insurance Plan, individual family members are given separate policies based on age and requirement. In Family Floater Health Insurance, the entire family is covered under one policy with benefits to all members.

4. Can I include my newborn baby in family floater health insurance?

A newborn baby can be added to an existing Family Health Insurance Policy after three months of birth.

5. What happens if one of the primary beneficiaries dies?

In case of death of the primary policyholder, the Family Health Insurance Policy can be passed to any other adult member of the family. The premium of the existing policy will not be reduced. The benefits of the original policy will remain intact until the next renewal, at which point the required changes can be made.

6. What happens if I exhaust the sum insured of the family health insurance policy?

Most Health Insurance Plans have a reinstatement facility. If the sum assured is exhausted, a top-up amount is added to cover additional expenses. The percentage of the top-up amount differs from policy to policy.

7. What is the difference between Individual Health Insurance and Family Health insurance?

The Individual Health Insurance Policy is for one person. In comparison, a Family Floater Health Insurance Policy covers all members of the family under one policy.

9. How much does a family health insurance plan cost?

Premiums for family health insurance plans differ from insurer to insurer. At Bajaj Finance, you can choose from a wide range of family health insurance plans with premiums that fit most pockets.

10. How do I choose a family health insurance plan?

Bajaj Finance Limited believes that a health insurance policy should be worth the coverage provided and the premium paid. Select a health insurance plan that offers comprehensive coverage to your entire family. It should offer a higher number of network hospitals. You can avail of cashless services from these network hospitals at the time of hospitalization or emergencies. Before as well as after hospitalization, you may need to undergo several tests. So, your health insurance plan should cover pre-and post-hospitalization expenses. Periodical medical check-ups are inevitable in the current busy lifestyle. So, purchase a plan that offers a complimentary medical check-up for all the insured people of your family. You can choose the right plan that suits all your needs with Bajaj Finance Limited.