Family Health Insurance Plan
Niva Bupa family health insurance plan offers the perfect solution for the well-being of your loved ones. With our 10,000+ network hospitals, 30-minute claim processing, and varied plans, you can rest assured knowing that your family's health is in trusted hands. Help us find the right plan for you.
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Family Health Insurance Policy
Discover the power of our family health plans and embark on a journey towards a secure and healthy future.
Hospitalization Plans
Present your family with the gift of comprehensive coverage and peace of mind with our hospitalisation plans.
Health Insurance Plans for Large Families
Experience the confidence of full coverage for your extended family with our exclusive health insurance plans for large families.
Wellness Plans
Embrace total wellness protection with our extensive range of wellness plans, catering to all your health needs.
Top Up plans
Unlock the benefits of our top-up plans for all-around protection.
Health Insurance Plans for Family
Family Health Plan
Every member of the family is covered by a single health plan under health insurance plans for family. Several insurance companies currently provide policies with coverage for extended families. For instance, the Heartbeat plan from Niva Bupa can offer coverage to up to 19 people simultaneously.
The fact that the best family health insurance plans act as a single defence against financial difficulties in the event that health issues affect every member of the family is another important factor in choosing such a policy. Additionally, they offer reimbursement-based access to high-quality medical treatment for the entire family in the hospitals in its network.
All about the Family Floater Health Insurance
Our devotion to our family is unwavering. We share one another's happiness as well as grief. Nothing matters more than their health and well-being. Against this backdrop, imagine a single policy that encompasses your family's health needs, bringing together the strengths of individual coverage under one united plan.
The family floater health insurance is such a policy that ensures that every member of your family has access to quality healthcare without the worry of individual policies or soaring expenses.
Who Should Invest in Family Floater Health Plans?
Though investing in health insurance plans for your family depends on individual circumstances and preferences, the following people must give special attention to such plans:
- Those with dependents, including a spouse, children, or elderly parents.
- Those seeking comprehensive healthcare coverage for their entire family.
- Those who value the convenience of managing a single insurance plan for the family.
- Those looking for a cost-effective option compared to individual health insurance plans for each family member.
- Those who want to ensure continuous coverage for their family's healthcare needs over an extended period.
Things to Consider Before Purchasing a Family Floater Health Plan
Visualise the following scenario:
You have a family floater plan worth ₹10 lakhs. One family member is hospitalised, and the associated medical expenses are ₹7 lakhs. During the same year, another family member has an accident, and the cost of treatment is ₹5 lakhs. The remaining ₹3 lakhs (₹10 lakhs- ₹7 lakhs) of the policy amount will now be used to cover the accident treatment expense. The remaining cost of ₹2 lakhs will have to be met out of your own pocket.
This is just one of the scenarios where your insurance coverage can prove inadequate. But you can avoid such situations by carefully reviewing your policy and studying the following particulars:
Factor | Meaning | Tips |
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Sum Assured | The maximum limit specified by the health insurance policy that the insurer will pay in the event of a claim. |
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Cost | Premium: The amount paid to the insurance company for coverage under a health insurance policy. Deductible: The predetermined amount that the insured must pay out of pocket before the insurance coverage begins. Co-payment: A fixed amount that the insured must pay at the time of receiving a specific healthcare service. Co-insurance: The percentage of healthcare costs that the insured individual is responsible for paying after meeting the deductible, typically shared between the individual and the insurance company. |
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Claim Settlement Ratio | The percentage of insurance claims successfully paid out by an insurance company in a given period. |
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Network of Hospitals | A group of medical facilities that have an agreement with an insurance provider to provide healthcare services to policyholders through cashless transactions. |
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Inclusions and Exclusions | Inclusions refer to the specific medical treatment that is covered under the policy, while exclusions are those treatments that are not covered and, therefore, not eligible for reimbursement. |
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Renewability | The ability to extend or continue a health insurance policy beyond its initial term. |
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Benefits of Family Health Insurance Plans
Life is a grand adventure, and at the heart of it is your family. Naturally, you want to ensure that your family members are shielded from the uncertainties that life may throw their way, especially when it comes to their health. That's where health insurance plans for family swoop in, devised to protect your family. Let's explore the advantages offered by these plans:
1. Larger Coverage
A family floater policy is a single health insurance plan that provides comprehensive coverage and several additional benefits such as preventive health check-ups, cashless treatment, pre and post-hospitalisation coverage, OPD visits, newborn cover, etc. Some family health plans also provide accident cover in case of an accident. They also offer a waiver of premium in case of permanent disability. Critical illness riders can also be added to an existing policy for wider coverage.
2. Low-cost Premiums
We all know that healthcare costs can put a dent in our wallets. But fear not! Family health plans come to the rescue with their cost-effective approach. By bundling your family's coverage into one plan, you can often enjoy significant savings compared to individual policies. It's like getting a discount coupon for your family's health, allowing you to allocate your hard-earned money towards other essential needs. By choosing options like annual total deductibles and copayments, you can further reduce your premiums.
3. Increased Flexibility
Life is all about adaptability, and family health plans are designed to fit into your dynamic lifestyle. They offer flexibility in terms of coverage utilisation. If one family member requires medical attention and utilises a significant portion of the sum insured, the remaining family members still have coverage available when needed. It's like having a safety cushion that adjusts to the changing healthcare needs of your loved ones.
4. Continuity of Coverage
Family health plans provide a continuous shield of protection, ensuring that your family remains covered even during transitions or life events. Whether it's a change in employment or relocation, your policy stays intact. These plans also allow you to add more relatives if they meet the eligibility criteria. All you have to do is ask the insurance provider for it and pay an extra charge. Additionally, some insurance companies give the newborn free coverage up until the conclusion of the policy year.
5. Enhanced Wellness and Preventive Care
Prevention is better than cure, and family health plans embrace this philosophy. Many plans offer wellness programs and preventive care benefits, such as regular health check-ups, vaccinations, and screenings. These proactive measures empower you to prioritise your family's health, catching potential issues before they escalate.
6. Simplified Administration and Support
Managing healthcare can be a daunting task, but family health plans simplify the process. With a single policy to manage, you'll experience reduced paperwork, streamlined administration, and a central point of contact for any queries or claims. Taking care of the nitty-gritty of the policy becomes easier, allowing you to focus on what truly matters—your family's happiness.
7. Tax Benefits
Under Income Tax Act's Section 80D, you can claim tax deductions for the health insurance premiums paid. This helps to reduce the tax liability and the overall cost burden of the medical insurance plan. This shows that the claim that family health insurance is too expensive is not true because tax benefits can be easily obtained. Perks like a no-claim bonus are also available, which entitles you to a concession on your premiums for each year without filing a claim.
Benefits of Family Health Insurance Plans | |
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Day Care Treatment | Available |
Health Cover | Upto 1 Cr |
No Claim Bonus | Available |
Discount on Renewals | Upto 30% |
Maternity Cover | Available |
Refill Benefits | Available |
How to Choose the Best Healthcare Insurance Plan for Your Child?
Parenthood is an incredible journey filled with joy, laughter and a whole lot of love. But it also comes with a fair share of worries and responsibilities. As a doting parent, your child's health is undoubtedly one of your top concerns.
Life's unexpected twists and turns can, however, lead to medical emergencies and soaring healthcare costs. That's where a reliable health insurance plan steps in. Let's have a look at the steps required to find the best health insurance plan for your child:
1. Find the Right Insurer
The first step is to choose the right insurance provider. You must select a reputed firm which has wide experience related to child healthcare insurance. Make sure to check the number and quality of healthcare institutions included in their network. You must read the user reviews available on online platforms and talk to an insurance expert to know more details.
Still, there is no substitute for your own research. Evaluate the various options on factors such as coverage, cost, renewability, flexibility, customer service, claim settlement process, etc. Then, on the basis of your healthcare needs and budget limits, select the insurer that suits you.
2. Get a Family Floater Plan
The best insurance policy is the one that is easier for you to sustain annually and on a long-term basis until your child becomes an adult. In case you have already taken a family floater plan, your child can be easily included in the same. In India, a family floater plan has a single utilisation limit which can be availed by all members of the family. However, for extra protection, you may still choose an individual health insurance policy for your child. Together, these two health insurance plans can provide your children with the special protection they deserve.
3. Avail the Premium Waiver Option
Generally, the health insurance premium for children is lower as compared to adults. This is because the insurer has to bear a lower risk, as children are relatively less susceptible to diseases. The low premiums make it easy for parents to meet their obligations.
Still, there may be situations where premium payments can’t be made. In such scenarios, the ‘premium waiver’ option must be availed. It acts as a safety net by waiving future premium payments if the policyholder (the parent or guardian) faces unforeseen circumstances such as disability, critical illness, or even death. This ensures continuity of coverage and provides protection against rising premiums, ultimately securing the child’s future.
4. Make Use of Benefits and Riders
Possibly the most crucial factor to keep in mind is the list of inclusions and exclusions under your health insurance, i.e. what you are being offered as part of the plan’s coverage. The more benefits you get for a given amount of premium, the better it is for the health of your children. Features like hospitalisation fees, doctor consultation fees, ambulance cover, pre-hospitalisation and post-hospitalisation expenses are some of the many inclusions that can make your healthcare plan complete and best-suited for your child.
There are also certain diseases which are not covered under regular health insurance in India and are known as exclusions. Common health insurance exclusions range from pre-existing conditions, cosmetic surgeries, dental treatment, infertility treatment, critical illness, etc. To obtain protection against such exclusions, you can purchase additional riders and add-ons. For instance, the critical illness cover/rider can help you get covered for critical and terminal diseases.