Family health insurance is a type of health insurance designed to offer financial coverage for the healthcare expenses of an entire family. You can even add new members to your family at different life stages, like your spouse and your in-laws when you get married or your newborn baby
Family floater health insurance plans at Bajaj Markets are highly flexible. Here are some of the best family health insurance plans from leading health insurance companies on our platform:
Plans Available | Hospitalisation Cover | Starting Rate of Premiums | Check Plans |
Bajaj Allianz Family Health Care |
₹2 Lakh to ₹50 Lakh |
₹3,198 |
CHECK PLANS |
Care Health Insurance Plan |
Up to ₹50 Lakh |
₹4,471 |
CHECK PLANS |
Disclaimer: Premium rates mentioned for the above family floater health insurance plans are not constant and subject to change over time.
Inclusions |
Exclusions |
Complimentary health check-ups once in three years. |
Routine check-ups or OPD treatments are not generally covered unless specifically mentioned by the insurance company. |
Coverage for Pre and post hospitalisation expenses including ICU room rent, consultation, etc. |
Cosmetic treatments, plastic surgeries, etc. are not covered under family health insurance. |
Under the maternity care feature, the plan offers coverage for ₹25,000 for normal delivery and ₹35,000 for caesarean delivery. |
Any ailment or injury that can be categorised as intentional self-harm will not be covered under family health insurance. |
Treatment and medical expenses regarding organ donation are covered in the policy plan. |
Any ailment or injury caused while pursuing criminal or unethical activities will not be covered by the insurance plan. |
Reinstatement benefits can be availed on the same illnesses with 100% coverage of the sum insured. |
Pre-existing illnesses are those medical ailments that are existing before the purchase of the insurance plan. Generally, pre-existing illnesses are not covered under insurance plans. In case, the family health insurance policy offers coverage for a pre-existing illness, the policyholder will have to complete the waiting period. |
The family health insurance plan offers coverage up to ₹20,000 for Homoeopathic/Ayurvedic treatments. |
Ventilator or life-support machine expenses are not included in a family health insurance plan. |
For 10+ days of continuous hospitalisation, the policy plan offers convalescence benefits of up to ₹7,500. |
Coverage for overseas medical treatments are not covered, unless specifically mentioned in the policy. |
Every family health insurance plan covers hospitalisation expenses, ambulance charges, etc. However, there are certain terms and conditions about coverage limits that people fail to read before purchasing the plan. Therefore, it is advisable to learn about policy coverage before opting for any family health insurance plan.
Year by year, medical treatment and service expenses continue to increase steadily. In such a scenario, the insured sum enhancement option allows the policyholder to increase the insured amount during policy renewals. Some insurance companies offer a 100% appreciation in the insured amount as a cumulative bonus for claim-free years.
Insurance companies claim a wide network of hospitals where policyholders can opt for cashless treatment facilities to eliminate financial stress, especially during medical emergencies. However, one must locate and evaluate the services of the nearest network hospital before purchasing the family health insurance plan.
The policy premium and renewal of the family health insurance plan are influenced by the age of the eldest member of the family. Some insurance companies or vendors do not offer renewal facilities to policyholders if the eldest member of the family turns 60+. Therefore, one must check the renewal conditions and opt for a family health insurance plan offering a lifelong renewal facility.
Insurance companies promise quick and hassle-free claim settlement procedures. However, one must check the claim settlement ratio and duration of the insurance companies before purchasing an insurance plan.
Step 1: Scroll up to the top of this page and click on ‘Check Plans’
Step 2: Provide the necessary details about the family members you wish to insure along with your personal information
Step 3: Choose from the list of available health insurance plans for families. You can also select add-on covers to enhance your coverage
Step 4: Finally, upload the required documents and make the health insurance premium payment online
Step 5: And voila! Your insurer will send the policy document via email shortly
Duly filled claim form
Original copy of hospital discharge summary or card
Prescription and cash invoices from pharmacies and the hospital
An investigation report by the doctor
Medical Certificate
Family health insurance policy document
In case of an accident, FIR or Medico Legal Certificate (MLC)
Purchasing a family health insurance plan can help you save a bit from their tax liabilities. Here are certain tax benefits that one avail of family health insurance.
For single premium family health insurance plans, you can be eligible for annual tax benefits of up to ₹1 Lakh under the Income Tax Act of 1961.
Purchasing family health insurance plans that include parents comes with tax deductions of ₹25,000. If parents are senior citizens, you can apply for tax deductions of ₹30,000 every financial year.
Annual health preventive check-ups have tax benefits of up to Rs. 5,000.
Categories |
Details |
Minimum Entry Age |
For Adults: 18 years For Children: 90 days |
Maximum Entry Age |
For Adults: 65 years For Children: 25 years |
Family Members Covered Under the Plan |
Self, spouse, dependent parents, dependent children, and parents-in-law |
Renewability |
Lifetime |
Step 1: Inform your insurer about the situation and visit a partner hospital
Step 2: Submit family health insurance plan details and take the pre-authorisation form
Step 3: The insurer then verifies the form, and the hospital is notified about the policy details
Step 4: Once discharged, the hospital will share documents like bills and discharge papers with the insurer
Step 1: Share all original medical documents, hospital bills, and insurance claim forms with the insurer
Step 2: The insurer evaluates the details and may ask for any additional information if required
Step 3: Your claim decision is made post-verification
Step 4: You will receive the claim amount based on the policy terms and conditions
Family health insurance plans come at a higher premium rate since it covers the whole family. On the other hand, the best family floater health insurance plans in India cover the insured, spouse, and children. However, a few plans extend to parents and your parents-in-law as well.
Yes. Despite having a corporate health policy, you must buy health insurance for your family. Your corporate health policy most likely covers only you. In case it covers your family as well, the coverage offered by your workspace can be insufficient. Moreover, with a corporate health plan, you do not get the option of customising the policy as per your family's needs.
Yes. You can easily add family members to the existing plan.
Sons can legally remain under their parent's family health insurance plan until they turn 26 years old. Unmarried or divorced daughters can enjoy their parents’ health plans for endless years.
Yes, family medical insurance comes with a waiting period of 30 to 90 days.
The maximum limit on the number of members permissible in a family health insurance plan differs from insurer to insurer.
Children can be covered with either of the parents in a policy, but they are not covered individually in health insurance plans. Dependent children from the age of 3 months to 30 years are covered under family health insurance plans.
An estimate of ₹1,700 - ₹2,500 per month needs to be spent on a family floater health insurance plan for 4 members.
Purchasing a family health insurance will be a more profitable deal than an individual health insurance plan. Family insurance plans will cover the medical expenses of all the members whereas individual health insurance plans take care of only a single person’s medical expenses. The premium total of multiple individual insurance plans will be comparatively higher than the premium of family health insurance.
In a family health insurance policy, a fixed insured amount is designated to cover the medical expenses of the family members. The insured claim gets depleted with every claim. The policyholder will not be able to make further claims after the exhaustion of the insured amount. To avoid this, the policyholders can avail restore benefit feature, to restore 100% of the insured amount.
On Bajaj Markets, you can find amazing family health insurance plans from Bajaj Allianz Health Insurance, Aditya Birla Health Insurance and Care Health Insurance. From all the plans offered, you can choose one that best suits your needs and that of your family.
Yes, cashless facilities are covered under Family Health Insurance. You can approach network hospitals affiliated with your insurer in order to claim cashless treatments.
It is best to get Health Insurance as soon as you are eligible. This way you can enjoy
Yes, you can add your newborn baby to your Family Health Insurance policy. However, the minimum age for your baby to be eligible for health insurance is 90 days.