Health Insurance Plans for Family
A family health insurance policy is also known as a family floater health plan. They are one of the most common types of health insurance plans available in the Indian insurance market. The plan aims to cover every member of your family under a single policy.
Family medical insurance provides cover in the form of sum assured, which is divided based on the number of family members or as a lump sum for the entire family. This cover is available in the form of financial assistance used to pay hospital bills, treatment of illness, doctor’s fees, cost of medical treatment and accidental emergency injury.
Under a family mediclaim policy, you can cover yourself, your spouse, dependent children, parents and in some cases, in-laws as well. Each member of your family can claim up to the total sum assured. Apart from basic cover, family health insurance policies also include cover for COVID-19 related expenses/hospitalization bills.
Why Buy a Family Health Insurance Plan?
If you are a family person, you must buy a comprehensive health insurance plan for you and your family. Here are the key benefits of Family Floater Health Care Plan:
Family Floater Plan
A family health insurance policy is also known as a family floater health plan. They are one of the most common types of health insurance plans available in the Indian insurance market. The plan aims to cover every member of your family under a single policy.
Split cover amount
Family medical insurance provides cover in the form of sum assured, which is divided based on the number of family members or as a lump sum for the entire family. This cover is available in the form of financial assistance used to pay hospital bills, treatment of illness, doctor’s fees, cost of medical treatment and accidental emergency injury.
Covers the entire family
Under a family mediclaim policy, you can cover yourself, your spouse, dependent children, parents and in some cases, in-laws as well. Each member of your family can claim up to the total sum assured. Apart from basic cover, family health insurance policies also include cover for COVID-19 related expenses/hospitalization bills.
Covers the cost of treatment
With a family insurance plan, you don’t have to worry about hospitalization of your loved ones. Family cover comes at an affordable premium cost, payable as annual installments. Also, if you don’t have sufficient balance at the time of your hospitalization, you can always avail cashless hospitalization. You will be stress free as the financial responsibility will be borne by the health insurance provider.
Critical illness cover
This is a very important factor. Serious illnesses can take a toll on your family’s emotional, physical, mental and financial well-being. Critical illnesses are life-threatening illnesses that can leave you incapacitated or incapacitated for a long time. A Medsilam policy for family provides critical illness cover to help you cope with financial losses.
Online shopping
Another important advantage of family medical insurance is that it can be purchased online. You no longer need to visit a bank branch or meet an insurance agent. With Coverfox, you can easily buy, renew and compare the best family health insurance plans in India at the click of a button.
Covers COVID-19
Due to the ongoing pandemic, existing insurance companies have included cover for expenses related to COVID-19, doctor’s fees, PPE kits. The Insurance Regulatory and Development Authority of India has directed all private and public general insurance companies to offer Corona Rakshak and Corona Kavach plans at a nominal premium.
Customize health policy
You can add a wide range of rider options to your existing or new healthcare policy at an affordable premium cost.
Tax benefits
Premiums paid for health insurance policies are eligible for tax deduction under Section 80D of the Income Tax Act, 1961.
How many members can be covered in family health insurance plans?
Spouse and Children: Generally, family health insurance plans cover the individual, his spouse and his dependent children.
Immediate family: Along with a spouse and children, some plans also cover dependent parents, grandparents, and grandchildren.
Extended family: Along with immediate family members, some plans also cover your in-laws, nephews and nieces.
Ward Guardians: There are some exceptional family health insurance plans that cover your ward guardians as well.
Disclaimer: The above information may vary from plan to plan and insurer to insurance company.
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Why buy a family health insurance plan online from Coverfox?
Very convenient
Buying family health insurance online has become more convenient than ever thanks to websites like CoverFox. Just compare different plans online and choose the policy that best suits your needs. You don’t need to fill multiple forms and stand in long queues to buy a policy. Fill all the required details and email the policy in just 5 minutes.
Free quote
Get instant quotes from various insurance companies when buying family health insurance online. You can compare quotes and choose a plan that matches your budget.
Easy payment
Coverfox offers multiple payment options such as debit card, credit card or e-wallets for easy payment according to your choice. These payment modes come with secure payment gateways.
Instant policy
Buying health insurance for family online gives you instant issue of your policy. You don’t have to wait for weeks to get your policy documents. The documents will be emailed to you immediately.
Easy access
After buying a family medical insurance policy, you can easily access your documents and get after sales services online. All you have to do is download the mobile app. You can also make a health insurance claim online.
How to buy family health insurance online?
If you want to cover all your family members in a single health insurance plan, you can easily buy it online. Coverfox offers to compare various family health insurance plans online and buy one that suits your needs. To buy the best mediclaim policy for your family in India, follow the steps below.
- Visit Coverfox.com and go to the Family Health Insurance page
- Enter your details like name, gender, contact number etc.
- Select the family members you want to cover and enter their ages.
- Give details of your past medical history
- Compare family health insurance plans from different companies and choose the best plan according to your needs.
- Pay premium online through secure payment method.
- Your family health insurance policy documents will be emailed to you in a few minutes.
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Documents required to purchase health insurance plans for family
Here is the list of documents required to buy mediclaim policy for family
KYC: Address proof and identity proof for all family members.
Proof of Age: Birth Certificate.
Photo: 2x passport size photographs of each family member.
Medical Report: Medical tests/checkups/reports for certain family members above 45 years of age.
With the advent of internet banking, all health insurance providers have enabled the online facility of policy renewal. All you have to do is visit the official website of the respective insurer and log in with your registered user ID/password. Once logged in, select the option for renewal and pay online through net banking/credit/debit card etc.
Family Health Insurance Claims Process
The family health insurance claim process can be understood as follows
Cashless Claim Process:
- Go to the insurance desk of a network hospital.
- Give ID card for identification.
- A pre-authorization form has to be filled and submitted.
- TPA verifies the documents and approves the cashless claim
- Insurers also assign field executives who facilitate claim processing for policyholders.
Compensation claim processing
- At the time of discharge, the policy holder should pay all the hospital bills and collect all the original documents.
- The reimbursement claim form needs to be submitted to the claim team of the insurance company or TPA along with all the necessary forms, hospital and medicine bills, medical and consultation reports and bills and any other documents required in the original.
- The claim will be validated by the insurer/TPA and then cleared as per the terms and conditions of the policy.
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