5 Best Family Floater Health Insurance Plans To Look Forward To Buying In 2023
Ketki Jadhav
Dec 30, 2022 / Reading Time: Approx. 5 mins
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After the covid-19 pandemic, there has been an increased awareness about health and health insurance in India. While many people know the importance of buying health insurance for their family, due to the confusion that arises because of the availability of hundreds of health insurance plans and lack of required knowledge, most of them procrastinate buying the policy.
When buying a health insurance policy for a family, many individuals consider only the premium and buy a family health insurance policy that comes with the lowest premium. While the policy premium is an important factor to be considered when buying a health insurance policy, it should not be the only criteria to make a decision. Many aspects need to be taken into account while choosing the right family floater health insurance plan. Buying it without knowing the fine details can make you regret in the future.
If you are looking to purchase a family health insurance plan, this article can help you choose the right plan for your family. The article enumerates 5 best health insurance plans for a family that are short-listed considering several factors, such as health insurance coverage, convenience to buy and renew the policy, claim settlement process, company goodwill, claim settlement ratio, add-ons and riders offered, premium, among others.
Here are the 5 best family floater health insurance plans to look forward to buying in 2023:
1. HDFC Ergo - My:Health Suraksha Insurance Plan:
HDFC Ergo's My:Health Suraksha Insurance Plan is a simplified yet wholesome health insurance plan for families. There is no maximum age limit to buy the plan. So, if you are a senior citizen or looking to cover your parents/in-laws under your plan, My:Health Suraksha Insurance Plan can be a great choice.
The plan has three variants - Silver Smart, Gold Smart, and Platinum Smart. While the key features of these plans remain the same, the sum insured and certain benefits make them different from each other.
Plan |
Sum Insured |
Silver Smart |
3 lakhs, 4 lakhs, 5 lakhs |
Gold Smart |
7.5 lakhs, 10 lakhs, 15 lakhs |
Platinum Smart |
20 lakhs, 25 lakhs, 50 lakhs, 75 lakhs |
Here are the key features of the plan:
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No capping on the room rent
-
Free Health Check-up every year after the policy renewal
-
Sum insured rebound cover that offers additional sum insured up to the base sum insured even if the existing sum insured is exhausted
-
Domiciliary cover
-
Cover for 586 daycare procedures
-
60 days pre-hospitalisation and 180 days post-hospitalisation cover
-
Cover for alternative treatments (AYUSH - Ayurveda, Yoga & Naturopathy, Unani, Siddha, and Homeopathy) and mental healthcare
-
Organ donor expenses
-
5% additional discount on online purchase of the policy
Network Hospitals |
13,000+ |
Minimum Entry Age |
90 days for children; 18 years for adults |
Maximum Entry Age |
No age limit |
Pre-existing Illnesses Waiting Period |
3 years |
Number of Members Covered |
Up to 4 adults and 6 children |
Sum Assured |
3 lakhs to 75 lakhs |
In-house Claim Settlement |
Yes |
Claim Settlement Ratio |
97% |
Add-ons Available |
Yes |
Premium |
Rs 20,340 |
(Note: Premium calculated for a family of 2 adults and 2 children with the eldest family member's age being 34 years)
2. Care Supreme Health Insurance:
Care Health Insurance offers Care Supreme Health Insurance that safeguards individuals and families with health and financial security with a complete health plan that offers extensive and unique benefits at the best value.
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Here are the key features of the plan:
-
No capping on the room rent
-
Cumulative No Claim Bonus of 50% of the sum insured per year, max up to 100% of the sum insured
-
Domiciliary cover
-
60 days pre-hospitalisation and 180 days post-hospitalisation cover
-
Cover for alternative treatments (AYUSH - Ayurveda, Yoga & Naturopathy, Unani, Siddha, and Homeopathy) and mental healthcare
-
Covers daycare procedures
-
Free 1 health check-up yearly
-
Achieve your Active Days Target (as per the terms mentioned in the policy) and get up to 30% discount on renewal premium
Network Hospitals |
19,000+ |
Minimum Entry Age |
90 days for children; 18 years for adults |
Maximum Entry Age |
24 years for children; 60 years for adults |
Pre-existing Illnesses Waiting Period |
4 years |
Number of Members Covered |
Up to 2 adults and 2 children |
Sum Assured |
7 lakhs, 10 lakhs, 15 lakhs |
In-house Claim Settlement |
Yes |
Claim Settlement Ratio |
95.2% |
Add-ons Available |
Yes |
Premium |
Rs 20,216 |
(Note: Premium calculated for a family of 2 adults and 2 children with the eldest family member's age being 34 years)
3. Aditya Birla Activ Assure Diamond Health Insurance Plan:
Aditya Birla Health Insurance's Activ Assure Diamond Health Insurance Plan protects your family with a cost-effective plan that offers comprehensive coverage for all your healthcare needs.
Here are the key features of the plan:
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Even if your Sum Insured gets insufficient, it will get reloaded by another 150% for a subsequent and unrelated illness
-
No capping on the room rent for the sum insured 7 lakhs and above
-
Cumulative No Claim Bonus of 10% of the sum insured per year, max up to 50% of the sum insured
-
Free annual health check-ups
-
586 essential but routine daycare treatments
-
Worldwide emergency assistance service
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Get up to 30% of your premium as HealthReturnsTM, which can be used to pay for renewal premiums, medicine or diagnostic tests
-
60 days pre-hospitalisation and 60 days post-hospitalisation cover
-
Cover for alternative treatments (AYUSH - Ayurveda, Yoga & Naturopathy, Unani, Siddha, and Homeopathy) and mental healthcare
-
Organ donor expenses
-
Second e-opinion
-
100% sum insured booster in case of accidental hospitalisation
-
100% sum insured booster in case of cancer hospitalisation
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Rs 500 hospital allowance for every 24 hours of hospitalisation up to 5 consecutive days
Network Hospitals |
10,000+ |
Minimum Entry Age |
91 days for children; 18 years for adults |
Maximum Entry Age |
65 years |
Pre-existing Illnesses Waiting Period |
4 years |
Number of Members Covered |
Up to 2 adults and 3 children |
Sum Assured |
3 lakhs to 75 lakhs |
In-house Claim Settlement |
Yes |
Claim Settlement Ratio |
94% |
Add-ons Available |
Yes |
Premium |
Rs 19,331 |
(Note: Premium calculated for a family of 2 adults and 2 children with the eldest family member's age being 34 years)
4. Niva Bupa ReAssure Health Insurance:
Niva Bupa Health Insurance's ReAssure is an affordable health insurance plan that makes securing your family's health painless.
Here are the key features of the plan:
-
No capping on the room rent
-
Free Health Check-up every year after the policy renewal
-
Cumulative No Claim Bonus of 50% of the sum insured per year, max up to 100% of the sum insured
-
Domiciliary cover
-
60 days pre-hospitalisation and 180 days post-hospitalisation cover
-
Cover for alternative treatments (AYUSH - Ayurveda, Yoga & Naturopathy, Unani, Siddha, and Homeopathy)
-
Covers daycare procedures
-
Organ donor expenses
-
Reinstatement of the base sum insured as refill benefit after the first claim is paid even on partial utilisation of the base sum insured
-
Up to 30% discount in the premium on the number of steps taken
-
Hassle-free 1 click renewal on the app
Network Hospitals |
7,600+ |
Minimum Entry Age |
90 days for children; 18 years for adults |
Maximum Entry Age |
No age limit |
Pre-existing Illnesses Waiting Period |
3 years (2 years for the conditions specified in your policy under Personal Waiting Period) |
Number of Members Covered |
Up to 6 members |
Sum Assured |
3 lakhs to 1 cr |
In-house Claim Settlement |
Yes |
Claim Settlement Ratio |
97% |
Add-ons Available |
Yes |
Premium |
Rs 20,421 |
(Note: Premium calculated for a family of 2 adults and 2 children with the eldest family member's age being 34 years)
5. Star Comprehensive Health Insurance Plan:
Star Comprehensive Health Insurance Plan provides care beyond health insurance cover with its disease management programme for a healthy life through wellness. Besides, it is one of the few plans that offer maternity and newborn cover in the base plan. Star Comprehensive Health Insurance Plan also offers attractive discounts on the premium with the wellness points earned.
Here are the key features of the plan:
-
No capping on the room rent
-
No pre-acceptance medical screening
-
Hospital cash benefit for up to 7 days
-
Covers all the daycare procedures
-
Second medical opinion
-
Domiciliary cover
-
Cover for alternative treatments (AYUSH - Ayurveda, Yoga & Naturopathy, Unani, Siddha, and Homeopathy)
-
Cumulative No Claim Bonus of 50% of the sum insured per year, max up to 100% of the sum insured
-
60 days pre-hospitalisation and 90 days post-hospitalisation cover
-
Childbirth and newborn cover
-
Organ donor expenses
-
Free Health Check-up after every claim-free year
-
Discount in the Renewal premium for a healthy lifestyle through wellness activities
Network Hospitals |
13,000+ |
Minimum Entry Age |
90 days for children; 18 years for adults |
Maximum Entry Age |
65 years |
Pre-existing Illnesses Waiting Period |
3 years |
Number of Members Covered |
Up to 2 adults and 3 children |
Sum Assured |
Rs 5 lakhs to 1 cr |
In-house Claim Settlement |
Yes |
Claim Settlement Ratio |
99.73% |
Add-ons Available |
Yes |
Premium |
Rs 24,686 |
Note: Premium calculated for a family of 2 adults and 2 children with the eldest family member's age being 34 years)
To conclude:
We have discussed some of the best family floater health insurance policies you can consider buying to protect yourself and your family against medical emergencies. Please note that while the Claim Settlement Ratio and Premium are important factors to be considered, they should not be the only aspect to consider while purchasing any insurance. To ensure you make an informed decision, we advise you to check your requirements, compare the plans, and read the policy details, terms, and conditions thoroughly before you buy the family floater health insurance policy. This will help you make an informed decision. Also, make sure you choose the sufficient sum insured based on your family's medical requirements.
Warm Regards,
Ketki Jadhav
Content Writer