You need health cover regardless of what you take two at a time - pills or stairs.
  • How to Smartly Cover Your Entire Family with Health Insurance

    In today’s world, the rising cost of medical treatments have become a financial burden, particularly for families belonging to the low income groups. Even though India is known for the far fetching developments in medical tourism, for most of the Indians, medical treatments in multi-specialty hospitals are becoming unaffordable with each passing day.

    Medical expenses depend primarily on the nature of illness, the type of treatment and also the length of treatment. In the absence of a family health insurance plan, the aforementioned factors lead to financial stress and anxiety. For a person with dependents and ever growing responsibilities, it would not be wise to take risks especially when a multitude of family health insurance plans are available in the market. However, choosing the health plan can sometimes be a complicated process and therefore it is essential that you have a clear understanding of your family medical history.

    Things to Consider While Selecting Your Family Health Cover:

    • Number of Members: The size of your family may not necessarily help you analyze the healthcare costs involved, but the number of members surely does. For example, a 2 member family with serious medical conditions may spend more than a 4 member family with no illness.
    • Age of Members: When a family consists of members belonging to different age groups, it is ideal to segregate the health requirements of each member before deciding the plan. A younger member of the family may not be at the same level of health risk when compared to an older member.
    • Pre-existing conditions: Generally, insurers demand a 3- 4 years waiting period for members with pre-existing chronic conditions. Some companies offer a coverage for preexisting illness right from the first day of entry. So while going for a health insurance plan, compare the plans and select the one that covers the individual requirements of each member of your family.

    Family Floater Plans or Individual Plans: Which is better?

    Once you have identified the needs of individual members of your family, you may know that sometimes a family floater plan may not be the right fit. In such cases you will have to choose between an individual policy and family policies or a combination of both.

    Let’s consider the following example of two individuals Clark and Smith who are 38 years and 43 years respectively.

    While Clark chose a family floater plan to cover his 35 year old wife and his 24 year old dependent sister, Smith opted for a combination of family floater plans and individual plans. The reason being, Smith was looking for a policy that will cover his wife, children and his aging parents. He picked up two individual plans for his parents and a family floater for rest of the members. In Smith’s case, the number of aging members were two and their medical requirements would vary greatly from the younger members of the family. Therefore, a combination plan was the ideal choice for him, as premiums for family floater plans are based on the age of the oldest member. But in case of Clark, the members to be covered were young and it justifies his reason for opting a family floater plan. As the premium payments for family floater takes into account the highest risk factor, it is advisable that older members are covered under individual plans.

    The above example illustrates how assessing the needs of individual members can help in reducing surplus costs while planning your family health insurance cover.

    Different Types of Health Insurance Plans:

    • Hospitalization Plans: These plans compensate for the hospitalization costs of the individual or family depending on the sum insured. Some insurance companies offer additional lump sums and even post hospitalization expenses are covered under the plan
    • Daily Cash Plans: Daily cash plans payout a fixed amount on an everyday basis regardless of the actual medical expenses incurred.
    • Critical Illness Plan: Critical illness covers are offered either as riders or as a separate plan. It provides a lump sum amount to the insured when he/she is diagnosed with severe conditions such as heart attack, stroke, kidney diseases and the like.

    Always Compare Benefits:

    Once you have made your decision to choose a health plan for your family, the very next step is to compare the plans of different insurers. This step should be given due importance as one is likely to miss out a custom made plan if choices are made without comparisons. Also, one has to decide whether he wants a higher health coverage with high premiums or a low coverage plan with small premiums amounts.

    Significance of Sum Assured on the Family Health Policy:

    While comparing family floater plans and individual plans, sum insured on the policy is a chief differentiating factor between the two. While family floater plans offer the benefit of sharing the sum insured, multiple individual plans provide a certain assured sum to each member of the family. For example if three members are covered under a family floater plan for 3 lakh and one member uses up more than 1 lakh, then the remaining amount can again be shared again by all the members of the family. But in case of multiple individual plans with a cover of 1 lakh each, individual members will not be eligible for benefits once the sum insured is used up.

    What to Look for in a Family Health Insurance Plan:

    • It is always best to opt for a policy that does not have capping on room rent. Some insurance policies set a limit on the daily rent payable, which sometimes ends up with the policyholder paying a portion of the rent out of his wallet.
    • With the latest improvements in medical technology, many of the treatments do not require getting admitted. Therefore it’s advisable to go for a policy that gives sufficient space for day care procedures as well.
    • Cashless claims are offered only in the network hospitals of the insurance company. One must make sure that the network hospitals are within reach while opting for the plan.
    • Some of the family floater plans provide maternity benefits provided a certain amount of premiums have been paid. It is ideal to compare various policies and understand the restrictions and benefits on maternity covers.
    • Most of the health insurance policies have exclusions on some or the other disease, either temporarily or forever. One should have a clear idea of the types of diseases covered under the plan and the exclusions.

    GST rate of 18% applicable for all financial services effective July 1, 2017.

    Disclaimer: Premiums may vary depending upon factors like age, location and prevailing taxes/GST.

    Smart tips to choose family health Insurance plan Reviews

  • Page 1 of 50 1 2 3 4 5
    • Bajaj Allianz Health Insurance
      "Average Policy"
      0.5 3.0/5 "Satisfactory"
      I hold a health insurance policy with Bajaj Allianz from last 1 year, i am not aware of the premium amount as my company pays it. I have not claimed anything so far with this insurance and the coverage amount of Rs 70000 is very less for family coverage.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Oct 11, 2018
    • Religare Health Insurance
      "Good Policy"
      0.5 5.0/5 "Blown Away!"
      I have a health insurance policy with Religare from last 4 months, i am happy with the coverage value of this insurance policy and it is a Family health policy. I have no claim experience so far with this insurance and i pay a premium of Rs 12500 for this card. Coverage value is Rs 5 lac + 5 lac for this policy.
      Was this review helpful? 1
      , new delhi
      Reviewed on Oct 08, 2018
    • Bajaj Allianz Health Insurance
      "CONVENIENT"
      0.5 5.0/5 "Blown Away!"
      I had a claim experience with the BAJAJ ALLIANZ GENERAL INSURANCE. I have used this insurance is for 7 years which is cashless. It gives the coverage for my entire family. I had a claim for 1.5 lakhs and the medical coverage is for 3lakhs.
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 08, 2018
    • review Health Insurance
      "USER FRIENDLY"
      0.5 5.0/5 "Blown Away!"
      I had a claim experience with the LIBERTY GENERAL INSURANCE where i am holding for the health insurance policy. Premium i am paying 19K and it covers my family. Customer service is good and also the claim is cashless and the process is good within 2hours approval done.
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 08, 2018
    • Bajaj Allianz Health Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've a Family Floater Health insurance policy from the Bajaj Allianz. I am paying a premium of 16000 per year. It covers the entire family and so far there hasn't been any issues with their services.
      Was this review helpful? 0
      , thane
      Reviewed on Sep 26, 2018
    • Tata AIG Health Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've a health insurance policy with the TATA AIG. The policy is for myself and I've employer provided health insurance for my family. , I am paying a premium of 4000 monthly, the annual coverage of the policy is 5 lacs and I do not have any claim experience with the policy so far.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 26, 2018
    • Apollo Munich Health Insurance
      "Satisfactory"
      0.5 4.0/5 "Great!"
      I have a corporate health insurance policy with Apollo Munich. There is a coverage of three lakhs for the entire family. There are cashless facilities and also OPD facilities too. For the cashless option I need to use the medical card at any listed hospital and if I get hospitalized in a non listed hospital I need to pay the bill upfront and I would get 90% of the bill. Like wise for the OPD option where I can get all my medical bills like scans or other tests reimbursed, the process is done in 15 days and I would get 50%.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Sep 22, 2018
    • Star Health Health Insurance
      "Good overall"
      0.5 5.0/5 "Blown Away!"
      I have taken a health insurance policy from Star health insurance. It is for my family and I. Till date I have not had a claim experience. The medical coverage is for six months. The premium is not costly. The process to buy the policy in smooth and easy.
      Was this review helpful? 2
      , bangalore
      Reviewed on Sep 22, 2018
    • Reliance General Health Insurance
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      I've a health insurance policy with the Reliance General Insurance. I am paying a premium of 27000 per year. It is for the entire family. There hasn't been any claim experience so far. I will have to wait and see how they respond to my requests in future if I will have any.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Sep 15, 2018
    • Star Health Health Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      My health is insured with STAR health from last 1year and it is a good policy to use. It is a family policy where the coverage value is Rs 3 lacs per individual. I do not have claim experience with this insurance and i pay a premium of Rs 15000 for this insurance.
      Was this review helpful? 1
      , coimbatore
      Reviewed on Sep 12, 2018
    • Religare Health Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have a health insurance policy with Religare from last 1.5 years, a premium of Rs 14000 has to be paid for this insurance policy and it is a family coverage. My claim experience was very good and they covered 100%. Coverage value is Rs 5 lacs +5 lacs (auto refill) for this insurance.
      Was this review helpful? 1
      , ahmedabad
      Reviewed on Sep 12, 2018
    • Star Health Health Insurance
      "Start Health Insurance Fraud"
      0.5 0.5/5 "Unacceptable"
      My father purchased Star health insurance for family safety and was paying premium from last 2 years but when time came insurer refused to give claim stating that throughout the hospitalization and all investigation reports are within normal limits. My brother was admitted in family hospital delhi for 24 hours, doctors diagnosed him and billed approx 13500.
      Was this review helpful? 6
      , new delhi
      Reviewed on Sep 08, 2018
    • Chola Ms Health Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my health insured with Cholamandalam health insurance from last 2 years, i am happy with the coverage value of this insurance policy. I am not aware of the premium amount as my company pays it. It is a family coverage and they cover up to Rs 5 lacs for this insurance.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 08, 2018
    • Star Health Health Insurance
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      Star health is good in the health insurance policy. The medical coverage is good. It is for my family and I and fortunately I had not had a claim experience til date. The premium is normal and there are good benefits too. There is a no claim bonus too.
      Was this review helpful? 2
      , secunderabad
      Reviewed on Sep 06, 2018
    • ICICI Lombard Health Insurance
      "Normal Service"
      0.5 4.0/5 "Great!"
      I've a health insurance policy with the ICICI Lombard. I am paying a premium 280 per month, for me and family. I do not have any claim experience with the policy. The annual coverage 2.5 Lacs. It has been a hassle free experience with the policy so far.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 05, 2018
    • Bajaj Allianz Health Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a company provided health insurance policy with Bajaj Allianz from last 4 months. It is a family policy where the coverage value is up to Rs 5 lacs for this insurance. I have not claimed anything so far from this health insurance policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 05, 2018
    • HDFC Ergo Health Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a health insurance policy with HDFC ERGO from last 2 years, i have to pay an insurance premium of Rs 20000 for 2 years. I have not claimed anything so far from this insurance policy. The coverage for this policy is 3 lacs per head and this policy is for family.
      Was this review helpful? 2
      , bangalore
      Reviewed on Aug 30, 2018
    • HDFC Ergo Health Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a health insurance policy with HDFC ERGO from last 2 years, i have to pay an insurance premium of Rs 20000 for 2 years. I have not claimed anything so far from this insurance policy. The coverage for this policy is 3 lacs per head and this policy is for family.
      Was this review helpful? 1
      , bangalore
      Reviewed on Aug 30, 2018
    • United India Health Insurance
      "Good Service so far"
      0.5 4.0/5 "Great!"
      I've a a health insurance policy from the United India Insurance company. The company is paying premium and the entire family is covered. It offers an annual coverage of 3 Lacs. There hasn't been any claim experience so far with the policy.,..
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 29, 2018
    • ICICI Lombard Health Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my health insured with ICICI Lombard from last 3 years, i am not aware of the premium amount as my company pays it . The coverage value for this insurance policy is for Rs 2 lakhs and it is a family coverage. I have no claim experience so far with this insurance policy.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Aug 21, 2018
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