[ Top 5 Health Insurance Plans for Family in India ] Health insurance is one of the most important financial investments you can make for your family. Medical emergencies can occur anytime, and the cost of healthcare is rising rapidly in India. Having a comprehensive health insurance plan helps protect your family from the financial burden of hospitalization, surgeries, and treatments.
In this guide, we will look at the top 5 health insurance plans for families in India that offer extensive coverage, affordable premiums, and peace of mind.
Why Do You Need Health Insurance for Your Family?
Before diving into the best health insurance plans, let’s understand why having a family health insurance plan is essential:
- Rising Healthcare Costs: Hospitalization, medicines, and treatments are becoming more expensive each year. A good health insurance plan can help reduce the financial strain during medical emergencies.
- Comprehensive Coverage: Family health insurance covers not just hospitalization but also pre-and post-hospitalization expenses, doctor visits, daycare treatments, and more.
- Cashless Treatment: Most health insurance companies offer cashless hospitalization in network hospitals, reducing the hassle of paying upfront.
- Tax Benefits: Premiums paid for health insurance qualify for tax deductions under Section 80D of the Income Tax Act, 1961. [ Top 5 Health Insurance Plans for Family in India ]
Top 5 Health Insurance Plans for Families in India
1. Star Health Family Health Optima Plan
The Star Health Family Health Optima Plan is one of the most popular health insurance plans for families. It offers comprehensive coverage for hospitalization, surgeries, and other medical expenses. The plan covers all family members under a single sum insured. [ Top 5 Health Insurance Plans for Family in India ]
Key Features:
- Sum Insured: ₹3 lakhs to ₹25 lakhs
- Pre-hospitalization: Covers 60 days before hospitalization.
- Post-hospitalization: Covers up to 90 days after discharge.
- Daycare Procedures: Covers 405 daycare procedures like chemotherapy and dialysis.
- Network Hospitals: 9,800+ network hospitals for cashless treatment.
- Bonus: No claim bonus increases the sum insured by 25% for every claim-free year.
Example:
A family of four, including two children, can get a policy with a sum insured of ₹10 lakhs at a premium of around ₹15,000 per year.
Case Study:
Mr. Sharma, a 40-year-old IT professional, opted for the Star Health Family Optima Plan. After a sudden accident, his son required surgery. The family availed of cashless hospitalization at a network hospital, and the insurance covered 90% of the costs, saving them from a major financial hit.
2. HDFC ERGO Optima Restore Family Plan
The HDFC ERGO Optima Restore Family Plan is well-suited for families looking for extensive coverage and unique benefits like automatic restoration of the sum insured. [ Top 5 Health Insurance Plans for Family in India ]
Key Features:
- Sum Insured: ₹3 lakhs to ₹50 lakhs
- Restore Benefit: Automatically restores 100% of the sum insured if it gets exhausted during the policy term.
- Pre- and Post-hospitalization: Coverage for 60 days before and 180 days after hospitalization.
- Daycare Treatments: Coverage for over 540 daycare treatments.
- Network Hospitals: 10,000+ network hospitals.
- Free Health Check-ups: Annual health check-ups after every policy year.
Example:
A family of four can opt for a sum insured of ₹15 lakhs, with an annual premium of around ₹20,000. The restore benefit ensures that if one family member exhausts the sum insured, it is automatically restored for future claims. [ Top 5 Health Insurance Plans for Family in India ]
Case Study:
The Patel family had the HDFC ERGO Optima Restore plan when both parents were hospitalized due to COVID-19. Their policy covered the initial hospitalization costs, and the restore benefit recharged the sum insured for further medical needs during the same year.
3. ICICI Lombard Complete Health Insurance Plan
The ICICI Lombard Complete Health Insurance Plan is a comprehensive family floater plan offering flexible coverage options and wellness programs to ensure your family stays healthy.
Key Features:
- Sum Insured: ₹3 lakhs to ₹50 lakhs
- Wellness Programs: Earn points for staying healthy and redeem them for premium discounts.
- Pre-hospitalization: Covers 30 days before hospitalization.
- Post-hospitalization: Covers up to 60 days after discharge.
- Network Hospitals: 4,500+ network hospitals.
- Free Annual Health Check-up: Available for all family members. [ Top 5 Health Insurance Plans for Family in India ]
Example:
A family of three (parents and one child) can choose a sum insured of ₹10 lakhs with an annual premium of ₹18,000. The policy offers wellness programs and rewards for maintaining a healthy lifestyle.
Case Study:
Mrs. Iyer, a homemaker, availed ICICI Lombard’s family health plan. Her son required surgery after a sports injury, and the plan covered 85% of the medical expenses. She also benefited from free annual health check-ups and wellness rewards. [ Top 5 Health Insurance Plans for Family in India ]
4. Tata AIG Medicare Premier Plan
The Tata AIG Medicare Premier Plan offers wide-ranging coverage for family health needs, including maternity benefits and organ donor expenses.
Key Features:
- Sum Insured: ₹5 lakhs to ₹50 lakhs
- Maternity Benefits: Covers delivery expenses and newborn baby care from day one.
- Organ Donor Cover: Includes organ donor expenses.
- Pre- and Post-hospitalization: 60 days and 90 days, respectively.
- Network Hospitals: 7,200+ network hospitals.
- Restore Benefit: Automatic restoration of sum insured if exhausted.
Example:
A family of four can choose a sum insured of ₹20 lakhs with an annual premium of around ₹23,000. The maternity and organ donor coverage makes it an ideal plan for young families.
Case Study:
The Joshi family chose Tata AIG Medicare Premier for its maternity benefits. When Mrs. Joshi gave birth to their second child, the plan covered the delivery expenses and newborn baby care, significantly easing their financial burden. [ Top 5 Health Insurance Plans for Family in India ]
5. Religare Care Family Health Insurance Plan
The Religare Care Family Health Insurance Plan is known for its comprehensive coverage and no claim bonuses. It’s suitable for families looking for high coverage and additional benefits like worldwide treatment.
Key Features:
- Sum Insured: ₹5 lakhs to ₹6 crores
- No Claim Bonus: Increases the sum insured by 10% for every claim-free year.
- Worldwide Coverage: Optional add-on for coverage outside India.
- Pre- and Post-hospitalization: 30 days and 60 days, respectively.
- Annual Health Check-up: Available for all insured members.
Example:
A family of five (parents, two children, and one senior citizen) can opt for a sum insured of ₹25 lakhs with an annual premium of ₹28,000. The no-claim bonus can increase the sum insured by 50% over five claim-free years. [ Top 5 Health Insurance Plans for Family in India ]
Case Study:
Mr. and Mrs. Desai, both in their early 50s, opted for the Religare Care Family Plan with a sum insured of ₹30 lakhs. After a hospitalization due to illness, the plan covered 95% of their expenses, and the no-claim bonus increased their sum insured for the following years.
How to Choose the Best Health Insurance Plan for Your Family?
Here are a few things to consider when choosing the right health insurance plan for your family:
- Coverage Amount: Opt for a sum insured that is adequate to cover major medical expenses for all family members.
- Network Hospitals: Ensure that the insurer has a good network of hospitals near your residence for cashless treatment.
- Pre- and Post-hospitalization: Check the duration of pre- and post-hospitalization coverage.
- Daycare Treatments: Many modern treatments don’t require 24-hour hospitalization. Choose a plan that covers a wide range of daycare procedures.
- Maternity Benefits: If you are planning to start a family, ensure that your policy includes maternity coverage.
- No Claim Bonus: A no-claim bonus helps increase the sum insured for every year you don’t make a claim. [ Top 5 Health Insurance Plans for Family in India ]
FAQs – Top 5 Health Insurance Plans for Family in India
1. What is a family floater health insurance plan?
A family floater health insurance plan is a single policy that covers the entire family under one sum insured. The sum insured is shared by all family members, and it can be used by any member in case of hospitalization.
2. What is the difference between individual and family floater plans?
In an individual plan, each family member has their own sum insured, whereas in a family floater plan, all family members share a common sum insured.
3. What is the average premium for a family health insurance plan?
The premium varies based on factors like the number of family members, sum insured, and additional benefits. On average, a family of four can expect to pay between ₹12,000 and ₹25,000 annually for a family health insurance plan with a sum insured of ₹10-20 lakhs. [ Top 5 Health Insurance Plans for Family in India ]
4. What is a no-claim bonus?
A no-claim bonus is a reward given by the insurance company for every claim-free year. It usually increases the sum insured without an increase in the premium.
5. Can I add new family members to my existing health insurance policy?
Yes, most health insurance plans allow you to add new family members, such as a newborn baby, to your existing policy.
By choosing the right health insurance plan, you can ensure the financial well-being of your family during medical emergencies. Consider the features, coverage, and premiums of these top plans to find the best fit for your family’s needs.
Also Read: Top 10 – Best insurance policy in India with high returns for family