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Top 4 health insurance policies for family

A family health insurance policy is a cost-effective and comprehensive health policy that extends substantial coverage to the entire family at an affordable premium. Under this policy, one can get coverage for up to six members in the family, including the policyholder, spouse, and up to four children. Moreover, some family health policies also allow customers to enrol their parents or in-laws in the policy. The sum insured is extended on a floater basis, covering family members allocated in the policy.

Individuals can avail of coverage for the expenses attracted for hospitalisation, pre-and post-hospitalisation, day-care, and more. Moreover, some family health insurance plans in India extend the benefit of sum reinstatement, helping policyholders restore the entire sum if it gets exhausted during the policy tenor.

List of family health insurance policies in India

Prompt disbursal and a wide network of cashless facilities are the primary lookouts in a good family health insurance policy. It ensures you access the best medical treatment whenever required. And to help you with that Bajaj Finance has partnered with some of the leading insurance companies to bring a range of family health insurance policies to keep your family secured during emergencies. You can avail of various additional facilities, such as pre-and post-hospitalisation expenses, day-care procedures, organ donor expenses, AYUSH benefit, ambulance cover, accidental death benefit, OPD treatment, maternity cover, etc.

These offers are customisable and available to meet different requirements, health conditions, and budgets. However, to enjoy all the features and benefits, you need to select the right health insurance plan for your family that suits your requirements.

Here is the list of best family medical insurance plans, providing an insight to intending policyholders:

Family health plan Insurer Sum Insured (in Rs.)
Aditya Birla Activ Assure Diamond Plan Aditya Birla Health Insurance Rs. 2 lakh-Rs. 50 lakh
Bajaj Allianz Global Personal Guard Policy Bajaj Allianz Health Insurance Rs. 50 lakh-Rs. 2 crore
Manipal Cigna ProHealth Group Insurance Retail Plan Manipal Cigna Health Insuance Rs. 2.5 lakh-Rs. 1 crore
Niva Bupa Health Insurance Niva Bupa Health Companion Plan Up to Rs. 1 crore

Individuals can assess their requirements and choose the best family health insurance plans that meet their needs.

Advantages of purchasing health insurance policy for family

There is a wide range of benefits that family members of the insured person can avail of a family health insurance plan irrespective of their age. Here is a quick outline of some of the essential benefits available under this single policy:

  • Hassle-free hospitalisation cover
    During hospitalisation, the family members of the insured person can ensure a cashless treatment in network hospitals or can choose any other hospital as convenient and get the payment reimbursed. In this way, one can acquire quality treatment for his/her family members without compromising.

  • Reasonable premium
    Since family health insurance plans do not demand individual premium payments for all the family members, one can choose to cover his/her spouse, children, or parents under this single plan at a cost-effective premium. However, it is wise to purchase a separate insurance cover for the aged parents to ensure they are adequately covered considering their age-related issues.

  • Availability of additional benefits
    There are various family medical insurance plans available in the market that are extended by various leading insurance companies, such as critical illness cover, mental illness treatment cover, etc. Nonetheless, one must not forget to go through the policy terms and conditions to learn about the waiting period applicable to the additional benefits before purchasing such family plans.

  • Include new family members
    In a health insurance plan for a family, the policyholder can conveniently include a new family member by paying an additional premium. Unlike individual insurance plans, where you need to buy a separate policy for each member of the family. However, if you include your parents in your existing health plan, you must increase the sum insured value.

Things covered under family health insurance plan

Now that you have an understanding of the family insurance plans and how they work most effectively take a look at the most common coverage available under such health plans:

  • Daycare procedures
    This policy covers daycare expenses that involve hospitalisation of less than 24 hours.

  • Pre-and post-hospitalisation expenses
    The medical expenses incurred before and after hospitalisation are covered up to a number of days.

  • Organ donor expenses
    It covers the expense of harvesting organs and donor-related expenditure during organ transplants.

  • Domiciliary treatment
    Such family insurance plans pay for the medical expenses incurred on availing treatment at home on doctor's advice.

  • Daily cash cover
    These family health insurance plans provide a daily cash allowance to the policyholder on day-to-day expenses during hospitalisation.

  • Ambulance charges
    The expenses incurred on availing of ambulance services to the hospital during medical urgencies are also covered under this policy.

  • In-patient hospitalisation expenses
    Medical expenses attracted on hospitalisation for more than 24 hours due to accidental injury or illness are covered.

Choose from a range of family health insurance policies available at affordable premiums online with Bajaj Finance and provide a financial support to your family during medical emergencies.

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