Health insurance plans have become a necessity in today’s age when the incidence of ailments is increasing on a daily basis and medical costs have become highly unaffordable. In case of medical contingencies, a health insurance plan helps in paying off the medical bills which pose a threat to the policyholder’s finances.
Health insurance plans come in many different variants for different needs of individuals. One such common and popular variant is a family floater health insurance plan. The family floater plan covers the entire family under one plan thereby giving an umbrella cover to all family members. The plan is easily available and also affordable for covering the family.
Why to choose Family Mediclaim Policy?
A family mediclaim policy covers the entire family including the proposer, spouse and dependent children under one plan. In fact, some mediclaim plans also cover dependent parents and other relations under the family floater cover. Since the entire family can be covered under one plan, there is no need to buy separate individual plans for each member of the plan.
The family floater plan’s coverage is extended to every insured member. The premiums of family floater plans are also lower than the premiums of individual plans for each family member. These reasons make a family floater plan a good choice.
Advantages of Mediclaim Policy for Family
There are various advantages of mediclaim policy for the family. Due to these advantages, family floater plans are popular and favoured. Here are some advantages of family floater plans –
- The sum insured under the plan is shared independently as well as jointly by all family members. Thus, each member enjoys coverage up to the chosen sum insured
- The premiums are very low and affordable under a family floater plan than under separate individual mediclaim policies
- Dependent children aged 91 days and above can be covered under the plan
- Lifelong renewals are promised
How to choose best Mediclaim Family Policy?
To choose the best mediclaim policy, the policyholder should compare all the available plans before finding the best plan. When comparing, the plans should be judged on the following parameters –
- Members covered – ensure that the plan covers all the members of the family
- Sum insured – the available sum insured levels should be optimal so that a high coverage amount can be chosen for meeting the increasing medical costs
- Coverage features – the coverage features of the plan should fulfil the policyholder’s requirements. If the policyholder wants maternity cover, plans providing maternity cover should be considered
- Waiting period – health plans have a waiting period for pre-existing illnesses. The period can be between 1 year and 4 years. Choose a plan with a low waiting period for availing coverage for pre-existing illnesses earlier
- Premium rate – the premium should be reasonable with respect to the coverage features of the plan
- Discounts available – the plan should have attractive discount rates which decrease the premium amount
A plan which fulfils these criteria is the best family floater mediclaim plan.
List of Best Medicliam Policy for Family
Some of the best mediclaim policies for families are as follows –
| Name of the plan | Members covered | Sum insured allowed | Salient features |
| Apollo Munich Optima Restore | Self, spouse, dependent children, dependent parents or parents-in-law | Rs.3 lakhs to Rs.50 lakhs | · Stay Active benefit allows premium discounts based on number of steps taken
· Sum insured restoration and multiplier benefits are inbuilt · Optional Critical Advantage Rider |
| Bharti AXA Smart Health Insurance | Self, spouse and two dependent children | Rs.3 lakhs to Rs.5 lakhs | · AYUSH treatments are covered up to sum insured
· 25% increase in sum insured as no claim bonus |
| Cigna TTK ProHealth Plus | Self, spouse and dependent children | Rs.4.5 lakhs to Rs.10 lakhs | · Worldwide emergency cover
· Sum insured restoration · Health maintenance benefits · Inbuilt cover for maternity and new born baby |
| ICICI Lombard Complete Health Insurance | Self, spouse, dependent children, dependent parents and siblings | Rs.3 lakhs to Rs.50 lakhs | · Range of optional covers are available
· Inbuilt sum insured restoration |
| Max Bupa Health Companion Family Floater | Self, spouse and up to four dependent children | Rs.3 lakhs to Rs.1 crore | · Any age enrolment
· Vaccination against animal bites · Sum insured restoration benefit |
| Oriental Insurance’s Happy Family Floater – Silver Plan | Self, spouse, dependent children, dependent parents, parents-in-law and siblings | Rs.1 lakh to Rs.5 lakhs | · Daily hospital allowance
· Attendant allowance · Coverage when insured is the donor · Sum insured restoration |
| Star Health’s Family Optima | Self, spouse and dependent children | Rs.3 lakhs to Rs.25 lakhs | · Free annual health check-ups
· Sum insured restoration thrice in the policy year · Assisted reproductive treatments are covered |