Why need a health insurance for family?
Our family is everything to us. When one of its members is in distress, it affects the whole family. Because you share a special bond with your family till your last breath, you may also want to protect its members from diseases, health issues and other similar concerns. When you take charge of the responsibility to cover all the basics, a health insurance plan can go a long way toward simplifying matters as far as your family’s health and well being is concerned. With the enhanced risks of health issues and medical expenses, every family should have their own health plans and insurance policies accordingly.
A number of health insurances plans and health insurance companies are already trending in the market. These health insurance plans are devised to cover a major share of family health expenses, regardless of whether it is related to the viral flu or a major accident. To meet all your medical emergencies and health troubles, it is a good idea to opt for the best health insurance plans. Healthcare in India is already in a state of large transition. Increased income, health consciousness, price freedom, and the introduction to private healthcare financing with a range of health insurance plans for almost all the classes are some of its indicators.
Choosing the best health insurance plans for family is always a challenging task at any given point in time, primarily due to the presence of numerous health insurance companies and private healthcare companies. Generally, these businesses offer a wide range of health insurance plans for family. Still, the potential of India remains untapped, when compared to other countries in terms of health insurance plans for family. Only 15% of India’s population is covered through health policies.
What does a health insurance do?
Health insurance plans for family covers more than one member of a family, for the fixed amount assured for a single annual premium. It provides guaranteed coverage and protection for two or more members of a family at the same time. In case two or more persons from the same family are hospitalized or diagnosed at the same time, then these health insurance plans for family serve as the means to cover all the medical expenses for both the patients. Health insurance plans for family generally covers your spouse, and up to 4 kids. But some health insurance companies may also allow to provide your parents with the benefits of health policy. The best family floater health insurance plans in India also allows adding your extended family members (your in-laws) to your floater plan at an additional premium or some extra charge. Protect your family by choosing the best health insurance plans in India.
Best Health insurance Companies List
Best Private Health Insurance Company
Government Health insurance Company
there is a one drawback in Government health insurance companies in every 2-3 years they changes TPA and some of the TPA good for payment and approvals process
otherwise there is 4 Government insurance companies
1 United India Insurance company limited
2. The New India Insurance company limited
3. The Oriental Insurance company limited
4. the national insurance company limited
Types of Health Insurance Plans
Uncertain incidents that require immediate medical treatment and supervisions can bring down you and your family both emotionally and financially. Having a best health insurance plans in India can protect you as well as your family from such situations. There are a variety of health insurance policies, let us know them-
There are two ways to cover and protect your family and the best part about it is that it is customizable. You can either opt for individual policies and plans or for some best family floater health insurance plans. In a floater plan, both you and your family are covered in a single policy on a shared theme.
It is strongly recommended that you should go with family floater health insurance plans that not only covers you but also your parents and the other members who belong to your family. Some companies such as SBI health insurance plans, star health insurance, and HDFC health insurance provide for this feature. You can find out a detailed information about their websites the health insurance benefits, plans and premiums in this connection on the websites of the companies.
A family health can be further classified into Medical Insurance and Critical Illness Insurance. A medical insurance plan specifically reimburses the hospitalization cost relevant to health care treatment. The insurance company either bears the whole expense or maximum expense of a medical treatment or reimburses the treatment cost once the treatment is done.
A critical illness insurance is a type of policy which covers a policyholder against severe and chronic diseases, the insurance policy name itself suggests its features and benefits. Diseases or emergencies such as heart attack, stroke, kidney failures, bypass surgeries etc. are covered under this policy or insurance type. Apart from its benefits, it is important to know that, critical illness policies cannot be purchased as a single policy for the entire family. It has to be taken care individually for each family member. Of course, these policies can be taken and purchased according to every individual’s medical history and records.
Comparison of health insurance plans in India – Understanding health plans
Here is a list of some important points to consider while buying a health plan for your family. However, before choosing a health policy, a comparison of health insurance plans is a must.
- Basic coverage under a family health policy
While making a comparison of health insurance plans in India, you must know the basic health coverage offered under each plan. Given the likelihood of the fact that it may vary from one company to the other, it is imperative that you gather relevant information about each company to come up with an informed decision. Every healthcare policy offers medical coverage, hospital emergencies day care expenses and ambulance charges. Basic policy covers from a newborn baby to almost extended family members. You just have to simply keep adding their names to your policy. But remember, you can add up to 14 members only. To buy a proper plan, you must know the health condition of each and every family member.
- Maximum Renewal Age
99% of the insurance companies offer a renewal age of 60-65 years old maximum. But there are some insurance companies that offer a lifetime renewal facility. For this, you can opt for the best floater health insurance plan by comparing it with the other plans available in the market.
- Hassle free claim settlement
Almost all the insurance companies provide the same claim policy as instructed by the insurance regulator of India. There will be some different aspects of each and every company’s policy and operations. Before opting for a health plan, make sure you read all the insurance terms and conditions properly. Also note down the claim settlement process, including how the company offers the settlement, what are the conditions, the whole process, and everything. Majority of the insurance companies these days offer cashless hospitalization and medical expenses, so you don’t have to worry about collecting documents and then claiming them. The task can be accomplished online in quick time without any hassle these days.
Benefits of a Family Health Insurance Plan
- Hassle Free Plans
Family health insurance is the best way to protect and safeguard the health of your loved ones. A floater plan helps you to cover the entire family, relieving you from the task of maintaining and keeping track of different health policies. In the floater plan, you have to pay a single premium for the entire family.
- Avail Discounts
You can avail discounts and incentives which policies generally offer. Based on some parameters, some companies offer an individual to enjoy discounts. It may be a festive season, or any important seasons too.
- Add new family members
In a health insurance plan, you can add new family members very easily. But before adding someone you need to read all the instructions properly and carefully. In an individual cover, you will have to take a fresh policy, whenever there is an addition of a member to your existing policy. But in a floater plan, you don’t have to buy a fresh policy in the existing plan, you can just keep adding the new members to your old plan itself, without losing any benefits.
- Add extended family members
You can add your extended family members as well to your floater plan. But not all the insurance companies, but the majority of the insurance companies do offer these facilities for the buyer. Many providers offer an option to add your in-laws in the extended family member section, with an additional cost of the premium, that you are already paying. It makes the best family health insurance policy for both the sides of your family.
There are certain conditions and eligibility criteria to buy a family health insurance policy. Some of them are:
- Entry age for the policyholder should be from 18 to 65 years. Not more, not less. Some insurance companies do allow up to 70 years of maximum age.
- The family members’ age should be between 18 years to 65 years old or 70 year in some companies.
- The dependent children age should be from 90 days (3 months old) to 25 years. Some insurance providers do allow children from 30 days (1-month-old).
- Medical tests have to be taken, for some insurance companies.
- Renewal can be up to 65 years of age. But in some cases, it may go up till lifelong renewal facility too.
Thus, going by the points mentioned above, health insurance plan for every family is a must. The best health insurance in India review has almost all the top companies that feature these benefits. Choose wisely and smartly.