February 22, 2018

Best Family Health Insurance Plans in India 2018


Health insurances are offered by General Health Insurance Companies. There are very important factors that you should take into consideration before purchasing a health insurance policy for your family. Here is a comparison of all the Family Floater Health Insurance Plans of insurance companies and step by step guide to decide best family floater health insurance plans in India 2018. This post will help you to choose the best family health insurance plans in India 2018 covering major factors.

Advice:  Believe only the policy terms and conditions document. Not the sales lady, not the brochure, not the product web page.

What is family floater health plan

It is a type of health insurance plan, which allows members of the family to be insured under a single health insurance policy. It covers the policy holder, spouse and children.

What is family floater health plan

Why Family Floater Health Insurance Plan 

Always go for a family floater plan as it will cover the entire family. Otherwise you will have to buy individual health insurance plans for all family members each. It is hard to find one-size-fits-all health insurance plan to suit all your needs. You may have to find the best plan by checking some major factors such as claim settlement record, co pay, room rent, post hospitalization expenses, critical illness coverage etc. I will explain them here.

Best Family Health Insurance Plans in India 2018

Number of Family Members

Majority of the family health insurance does include all the family members. But the number of adults and number of children will mentioned in the plan and you can only include that much. As per Apollo Munich family floater policy, a policyholder can include spouse, dependent children, dependent parents, parents-in-law, grandparents and grandchildren. A maximum of 2 adults and a maximum of 5 children can be included in a single policy under a family floater plan. You may have to one more policy to include more adults.

Source: apollo munich

Maximum and Minimum Entry Age

The plan will mention maximum and minimum age of the family member to get included in the policy. This is called Entry Age. Majority of the policies provide 18-65 or 18-60 age for adults and 3 months - 18 years for children.


Identify the number and age of family members.
Check the insurance company website to see the maximum and minimum entry age.

Cashless Hospital Network

If you are staying in a semi rural area with few hospitals around that are not covered by the health insurance company, then you may end up paying for hospital costs. Always go to the health insurance company websites and check which are the hospitals available under that company. You can use the locators in the websites of the companies to check the hospitals covered.  I was planning to purchase a health policy from HDFC Ergo. I used the locator of HDC Ergo and found out there are only two hospitals covered under it in my area. Use Hospital Coverage Network of Max Bupa for that.

Cashless hospital will provide you facilities without paying a single penny from your pocket. They will charge the amount directly from the insurance company. Check how many cashless hospitals are there in the insurance company coverage. You can check them by going to the insurance company website and check for hospital coverage.


Identify major hospitals in your area where you will go for treatment

The first step is to identify major hospitals in your area. Go to their website and check for insurance section. This section would have listed all the insurance companies which they have tied up with. Check 4-5 hospital websites and create a list of common insurance companies.

aster medicity insurance companies linked tpa
Lourdes hospital insurance company list family plans

vps lakeshore listed insurance family plan companies tpa

The website will also show the process for cashless treatment or Procedure for Cashless hospitalization.

Empanelled for cashless treatment to HDFC ERGO Card holder Procedure for Cashless hospitalization

Once you have identified common insurance companies, it is time to check the premium and features. For that Go to Insurance companies website.

Check the hospital coverage network details in order to confirm whether they actually serve the hospitals.

Max Bupa family health insurance hospital coverage

Max Bupa family health insurance hospital coverage

Use Coverfox for Comparison

Coverfox is a website that compares health insurance, term insurance, care insurance etc. You do not need to provide mobile number or email id to access the data in coverfox. Select HEALTH INSURANCE, add number of family members, select their age and enter pin code. Declare any pre existing diseases of your family members. You can use the filters on the left side to compare and sort out best insurance plans for your family.

Must have features
Good to have features
Value Added Features

Use 5Paisa to see all Plans and Features of a Health Insurance company

Go to 5paisa.com to see the all the plans and features of the health insurance company. It list the following companies. You can use their health insurance calculator to find best family insurance plans. This is just like Coverfox.
  1. Cigna TTK
  3. L&T
  4. Religare
  5. Star Health
  6. Apollo Munich
  7. Bajaj Allianz
  8. Bharti Axa General
  9. Reliance
  10. TATA AIG
  11. SBI
  12. ICICI
  13. Royal Sundaram
  14. Future Generali
  15. Cholamandalam
  16. Universal Sompo

Minimum Waiting Period for pre exiting illness

Read the policies carefully to find out the minimum waiting period of any previously exiting illnesses of any of your family members. Some policies says that if you have XXX illness, you will have to wait for 4 years to apply for insurance coverage of that illness.

Claim Settlement Record

You can check the claim settlement record of the company to see whether the claims are settled or rejected.

There are many more factors to be checked and verified before purchasing a health insurance. It is not a 2 minutes task.

Comparison of Best health plans for you

Update 1: I was reading a post Best health plans for you in Livemint.com and saw a nice comparison of health insurance plans. See the list below. You can compare the plans and check the rating.

Source: Livemint

Here are the list of 44 health insurance companies to select with.
  1. Aditya Birla Health Insurance Company Limited
  2. AGA Assistance India Pvt. Ltd.
  3. Alankit Health Care Pvt. Ltd.
  4. Alliance Global Assistance Insurance Co.
  5. Apollo Munich Health Insurance Company Limited
  6. Asia Rescue And Medical Services Pvt. Ltd.
  7. AXA Assistance India Private Limited
  8. Bajaj Allianz General Insurance Co. Ltd.
  9. Bupa International
  10. Cholamandalam MS General Insurance Co. Ltd.
  11. Cignattk Health Instuance Company Ltd
  12. Ericson TPA Healthcare Pvt. Ltd.
  13. Family Health Plan (TPA) Ltd.
  14. FUTURE GENERALI India Insurance Co. Ltd.
  15. Geo Blue
  16. GMC- Henner Services
  17. Good Health Plan Ltd.
  18. HDFC ERGO General Insurance Co. Ltd.
  19. Health India TPA Services Pvt. Ltd.
  20. HTH Worldwide
  21. ICICI Lombard General Insurance Co. Ltd.
  22. ICICI Prudential Life Insurance Co. Ltd.
  23. IFFCO Tokio General Insurance Co Ltd.
  24. International SOS
  25. Max Bupa Health Insurance Co. Ltd.
  26. National Insurance Co. Ltd.
  27. New India Assurance Co. Ltd.
  28. Oriental Insurance Co. Ltd.
  29. Paramount Healthcare Management Private Limited
  30. Paramount Health Services & Insurance TPA Pvt.Ltd.
  31. Park Mediclaim Consultations Pvt. Ltd.
  32. Reliance General Insurance Co. Ltd
  33. Religare Health Insurance Co. Ltd
  34. Royal Sundaram Insurance Co.
  35. Star Health & Allied Insurance Co. Ltd.
  36. Starwell Health Management
  37. United Healthcare India (Private) Limited
  38. United Healthcare Parekh Insurance TPA Private Limited
  39. United Healthcare Management
  40. United India Insurance Co. Ltd.
  41. Universal Sompo General Insurance Company Limited
  42. Vidal Healthcare Services Private Limited
  43. Vipul Better Care
  44. Vipul Medcorp TPA Pvt. Limited

Room Sub Limits

The insurance company would have allotted a certain percentage of the total amount of insurance that you use for room rent. Suppose you have a health insurance plan of 1 lakh rupees of Max Bupa Health Companion plan, then you can use 14% of the total amount as room rent which is 14K rupess.

Co Pay

Co pay is where you have to also pay a certain amount from the pocket towards the total amount incurred. I would suggest to opt for an insurance that has no copay or less co pay. 

Premium Rates

Many users complain that their health insurance companies have hiked the premium rates or hiking the rates every year. This is a normal phenomenon. Better opt for a family health insurance plan with low premium, no co pay and good cash less hospital network in your region.

Get Quotes from Insurance Companies

You can go to the website of insurance company website, search for family health insurance plans and then request a quote with mobile number and email id. They representative from the company will call you and send you a quote via email. This is a great way to know how much premium you have to pay including tax.

Check this quote from Max Life Online Term Plan Plus & Cancer Insurance Plan.

quote from Max Life Online Term Plan Plus & Cancer Insurance Plan

Top Ups are the Best

You can go for a sum assured 5 lakh and then do top up for illnesses. That way you use reduce the premium rate. Top up offer lifelong renewability, tax benefits and added coverage.

Eg: HDFC health suraksha (5 lac floater) + A super top up of 20 lac(deductible of 5 lac) . Total premium of 26k + 10% loading.

Selecting a good family health insurance plan for your family is a time taking task and it depends on many factors. Take your time and write down necessary information including how much premium you can afford, number of family members, pre existing diseases etc. And finally reach to an adequate conclusion.

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