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
    • ICICI Lombard Health Insurance
      "Good Service"
      0.5 3.5/5 "Pretty good"
      I've a health insurance policy with the ICICI Lombard. I am paying a premium of 22000 for the entire family per year. I do not have any claim experience with the policy so far and I'll have to wait and see two they respond to my claims in case if I will have any.
      Was this review helpful? 0
      , new delhi
      Reviewed on Aug 13, 2018
    • review Health Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've a health insurance policy with the Aditya Birla health Insurance Co. I am paying a premium of 4000, this policy is only for me as I have employer provided group medi-claim for the entire family. I do have a claim experience with the policy where I availed a cashless hospitalization benefits of 2 lacs.
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 13, 2018
    • National Insurance Health Insurance
      "Good"
      0.5 4.0/5 "Great!"
      It is a corporate policy with national insurance. I have my health insurance with them. The coverage is for my family and I. The medical coverage is also good. I have the medical cards too. Fortunately I have no claim experience to use the policy.
      Was this review helpful? 0
      , jamnagar
      Reviewed on Aug 11, 2018
    • United India Health Insurance
      "Good "
      0.5 5.0/5 "Blown Away!"
      I have a corporate insurance from United India Insurance. It is a health policy and it is for my family and I. Though I have no used the policy, the benefits are good, they have given me the medical cards and also the medical coverage is good. The net work of hospitals are good too.
      Was this review helpful? 1
      , guwahati
      Reviewed on Aug 09, 2018
    • Religare Health Insurance
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I've a health insurance policy with the Religare. I am paying the premium of 12500 for an year, for the entire family. It offers annual coverage of 5 lacs. I do have a claim experience with the policy on that occasion I was able to claim 59000 and the whole claim process was easy and hassle free.
      Was this review helpful? 1
      , faridabad
      Reviewed on Aug 04, 2018
    • New India Health Insurance
      "Excellent services"
      0.5 5.0/5 "Blown Away!"
      My health insurance is with New India. The customer services and response is good and there are no hassles and they provide 93% of the claim. I have taken a family floater, there is a coverage of five lakhs and I also have a top up cover of 15 lakhs.
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 04, 2018
    • Apollo Munich Health Insurance
      "Very Good policy"
      0.5 5.0/5 "Blown Away!"
      They are very good in settlement and i have never had any claim experience so far. I can claim the money upto Rs. 4 lakhs. I have taken the policy for me and my family. The hospital list mentioned in the policy is good and the maximum hospitals covered by this policy. Cashless treatment is also available. Premium amount is paid by my company.
      Was this review helpful? 0
      , jaipur
      Reviewed on Aug 02, 2018
    • Oriental Insurance Health Insurance
      "Satisfied health insurance policy"
      0.5 5.0/5 "Blown Away!"
      They have provided the very good services. They have not deducted any un-respected amount. I can use the policy upto 85000. I had a claim experience with oriental insurance in the year of 2016. I'm paying the premium of Rs. 16000 per day for my family. The customer care people also given a proper response. The hospital list was good and the cashless treatment also available.
      Was this review helpful? 1
      , mumbai
      Reviewed on Aug 01, 2018
    • HDFC Ergo Health Insurance
      "Features are good"
      0.5 4.0/5 "Great!"
      My health insurance is with HDFC Ergo. The process to get this policy is good. The customer support is good too. I have taken a family floater and the medical coverage is for four lakhs. The premium is nominal too. There are good benefits in the policy. The tenure is for two years.
      Was this review helpful? 0
      , pune
      Reviewed on Aug 01, 2018
    • United India Health Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have a health insurance policy with United India Insurance from last 3 years, i am happy with the coverage value of this insurance policy. I have a family coverage of Rs 5 lakhs for this policy. I have claimed 90% of the bill value and it was a cashless treatment.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jul 31, 2018
    • Max Bupa Health Insurance
      "Good health insurance policy"
      0.5 4.0/5 "Great!"
      I have taken this health insurance policy for my family. I have taken this policy 2 years before and i have not experienced of any of the claim still now. Its a claim amount of Rs. 2 lakhs worth-able policy. I have to pay the premium amount of Rs. 3500. I never called the customer care service. I will make the payment through credit card and debit card.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 29, 2018
    • Apollo Munich Health Insurance
      "Don't take apollo munich policy and its not recommendable"
      0.5 1.0/5 "Really Bad"
      They have given worst service in Apollo munich. They are not giving properly reply on the mails and phone calls. They are not giving the perfect details. I have never experienced of any claim so far. They have given me a claim amount of Rs. 5 lakhs. I have taken this policy for me and my family. I used to pay the premium amount of Rs. 13000 in a year.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 27, 2018
    • Royal Sundaram Health Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've a health insurance policy with the Royal Sundaram Insurance company. I am paying a premium 6000 per year, this is for the entire family. I do not have any claim experience with the policy so far. I am getting an annual coverage of 3 lacs for the entire family.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jul 26, 2018
    • Cigna TTK Health Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've a health Insurance policy from the Cigna TTK insurance company. I am paying a premium of 15 000 yearly, This policy is for the entire family, me, Wife and children. I do not have claim experience. The features are good for the premium I pay. So far it has been a good experience with the policy.
      Was this review helpful? 2
      , kolkata
      Reviewed on Jul 26, 2018
    • HDFC Ergo Health Insurance
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had taken this insurance almost one year and the services which they had been providing so far had been good. There has been some cashless treatment which i had been getting as well. I had taken this for my whole family, me and my wife and children. Their customer support and their staff responses also had been good as well.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 25, 2018
    • review Health Insurance
      "Good health insurance policy"
      0.5 5.0/5 "Blown Away!"
      I have taken this health insurance policy for 3 months before. I don't have any claim experience so far. I can claim the amount of Rs. 15 lakhs. I've paid the premium of Rs. 3800 for year. I have taken this policy for my family too. I have never checked about the hospital list which is mentioned under this policy. I have never call the customer care service since i don't need it.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 25, 2018
    • ICICI Lombard Health Insurance
      "Good policy"
      0.5 5.0/5 "Blown Away!"
      I'm paying the premium amount of Rs. 11000 per year. I have taken this health insurance for my family. I have never had a claim experience with this policy. I can avail the claim amount of 3 lakhs maximum. Its easy to claim the policy. The hospital list was good. Cashless treatment is also available.
      Was this review helpful? 1
      , gurgaon
      Reviewed on Jul 25, 2018
    • Religare Health Insurance
      "Yet to experience the policy "
      0.5 3.0/5 "Satisfactory"
      I never had claim experience. I have taken this policy for past 3 years. I have taken this policy for my family. I used to pay the premium of Rs. 13000 every year. Most of the hospital are covered in this health insurance. The given sum assured amount is a satisfied one. I did not call the customer care since i don't have any claim need so far.
      Was this review helpful? 0
      , pune
      Reviewed on Jul 23, 2018
    • HDFC Ergo Health Insurance
      "Good health policy"
      0.5 3.0/5 "Satisfactory"
      There is a cashless treatment is available in this policy. I availed this policy for my family also. I used to pay Rs. 5000 for this health insurance. I never claimed this policy so far. All the hospitals, they are providing the cashless treatment. I can use the policy upto Rs. 1 lakhs.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 21, 2018
    • Royal Sundaram Health Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have my health insured with Royal Sundaram general insurance from last 3 months, it is a family health policy with the coverage value of Rs 1 lakh per member. I have no claim experience so far with this insurance and i get good tax benefits on this policy.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 20, 2018
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