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calendar_monthPublished on 22 Aug, 2024
autorenewUpdated on 10 Jan, 2025
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Written by Mudit Handa
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Imagine a family spending quality time together when an unexpected medical emergency strikes in- it can drain their savings, leaving them mentally shattered. But the quiet hero enters into the scene and saves them all the trouble- family health insurance.
With medical insurance for family, planning a single shield of healthcare for the whole family is now possible. Seeking quality healthcare can be quite financially demanding.However, due to the whopping medical inflation rate and expensive healthcare, it is sometimes tough for people to deal with long-term medical expenses.
In such times, when you have medical insurance for your family, you need not worry about expenses. In this article, we will explore the details of the best health insurance plans for families that are offered by Care Health Insurance.
A family floater health insurance is a health plan that covers the entire family under a single health plan. Unlike individual health insurance, which covers a single person, in the health insurance policy for a family, multiple family members can be covered. Anyone can use the sum insured amount as required. Here is an illustration for better understanding: Ramesh, a 33-year-old working professional, has corporate health insurance offered by his company. However, considering the uncertainties of life, he has also invested in a separate health insurance plan for his entire family.
His family consists of 5 people, including his 32-year-old wife, two children aged 6 and 4 years and his 68-year-old father-in-law. Ramesh has purchased medical insurance for his family from Care Health Insurance. The plan has a sum insured amount of ₹25 lakhs. After 6 months of buying the plan, his father-in-law fell sick, and ₹5 lakhs was used from the sum insured limit. A month later, one of his kids fell from the stairs and got his leg broken, which was another ₹50,000 medical expense.
Both expenses were managed hassle-free since Ramesh had invested in affordable family health insurance. Ramesh still has ₹19.5 lakhs left in his sum insured limit, which can be utilised by any insured member if needed during the policy year.
As a first-time buyer, you may have a lot of queries at the time of buying health insurance for your family. So, before moving any further, have a look at the table given below to get a quick insight into the plan’s features offered by Care Health Insurance:
Particulars | Details |
---|---|
Suited for | Families |
Number of insured members | 5-6 persons (depending on the chosen plan) |
Sum insured | ₹3 lakhs to ₹6 crore (as per the chosen plan) |
Minimum entry age | 90-91 days for infants and 18 years for adults |
Maximum entry | May differ with each plan (usually 99 years/lifelong) |
Renewability | Usually Lifelong |
Waiting period | Yes (ranging from 30 days to 36 months) |
Add-ons | Yes (Optional) |
Grace period | 30 days from the policy expiry date |
Cashless treatment | Yes (24800+ network healthcare providers) |
Daycare treatment | Yes (541+ daycare treatments covered) |
Tax benefits | Yes, under Section 80D of the Income Tax Act of 1961 |
At Care Health Insurance, you get a range of affordable family health insurance. It is advised to analyse your needs and then compare the health insurance plans to choose the best one. Some of the medical insurance for families offered by Care are:
With comprehensive and unique coverages under Care Supreme, the whole family can avail the benefit. The policy has no sub-limits on essential features. The sum insured options are ₹7 lakh to ₹1 crore. Unlimited recharge, cumulative bonus, cumulative bonus super, 30% renewal discount, unlimited e-consultations, wellness benefit, no claim waiting period for same person same illness etc. are some of the USPs of this plan.
Care Senior Plan is especially designed for a family's senior citizens. This policy can be purchased without any prior medical check-up. The sum insured ranges from ₹3 lakh to ₹10 lakh. Zone-based premium, no pre-policy medical check-up, annual health check-up, AYUSH coverage, 150% increase in SI with NCB super (optional), smart select, cataract coverage etc. are some of the unique features of this plan.
Yet another popular family floater health insurance plan, the Care Advantage plan, is a high-sum insured plan. This comprehensive health plan covers all your family members and has a sum insured, ranging between ₹25 lakh and ₹6 crores.
A sedentary lifestyle, stress, and unhealthy eating habits have become the norm today. This amplifies the demand for medical attention, worsening healthcare costs. Then, family health insurance policies come as saviours. The best family health plans provide several advantages to the policyholders, a few of which are mentioned below-
Generally, a family floater health insurance covers the following health conditions:
Health Conditions Covered Under Family Floater Health Insurance Plans | |
---|---|
In-patient hospitalisation | Domiciliary hospitalisation |
Pre hospitalisation (up to 30/60 days) | Ambulance cover |
Post hospitalisation (up to 60/180 days) | Air ambulance cover |
Daycare treatment (541+ treatments covered) | Automatic recharge |
Organ donor cover (may differ with each plan) | Second opinion |
Alternate treatment (may vary with each plan) | Annual health check-up |
No claim bonus | Tenure |
Room rent | Unlimited e-consultations |
ICU charges | AYUSH treatment |
Some of the health conditions remain uncovered. These are termed exclusions of the plan. In a family floater health insurance, the following conditions are usually not covered:
Add-ons are the additional coverage you can purchase along with a health insurance plan. It is optional, so you may or may not choose to invest in it. Following are the common add-ons with medical insurance for families available with Care Family Health Insurance:
Which one to buy? A family medical insurance policy or an individual health insurance? Make it easier for you with the below-given information:
Feature | Family Health Insurance | Individual Health Insurance |
---|---|---|
Who’s covered? | 2 Adults + 2 Children | Single person separately |
Sum Insured Benefits | Entire family can avail SI, per policy | Insured individual can avail SI benefits |
Premium Calculation | Per age & health profile of the oldest member | Per age, health condition, and individual risk profile of each insured person |
Coverage for Dependants | May also cover dependant parents | Coverage only for insured individual |
Premium | Single premium for all members which is lower than an individual health insurance | A bit higher premium (as per policy) |
When to choose? | You want to cover your immediate family members into one policy and pay a single premium | When you want a dedicated and comprehensive coverage for yourself and avail higher SI individually |
When it comes to choosing the best family health insurance plan, there are multiple options available in the market. You should have a sound knowledge of the aspects of an insurance plan to fulfill your family’s medical needs. We are quoting a few factors that you can consider before buying one for your loved ones-
The health and safety of the family is of utmost concern for any individual. To get one of the best healthcare shields for your family, you may choose Care Health Insurance. With 24800+ network healthcare providers, Care Health Insurance offers quick and easy claim settlement procedures. The affordable family health insurance of Care has benefitted many families so far. Get yourself and your family covered today under medical insurance for your family to have the much-needed mental peace.
>> Also Read: Benefits of Buying a Family Floater Health Insurance Plan
Disclaimers: The above information is for reference purposes only. For more details about the health insurance plans and their benefits please refer to the sales prospectus, policy terms, and conditions.
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