5 Tips to Keep in Mind Before Choosing Family Health Insurance

In India, approximately 5.8 million people are affected each year by one or the other form of ailments. In simpler statistics, 1 out of every 4 individuals is at the risk of contracting an illness. Some of these ailments can be severe and incur huge costs with prolonged treatments. While one cannot compromise on the medical needs of the family, it can sometimes lead to huge debts thereby leading to mental stress.

To avoid any such problem from occurring with you or your family, it is advisable to always have family health insurance plans in place. These health insurance plans cover both the needs of an individual and his/her family in the form of a comprehensive family floater plan that can be availed at affordable premiums with high coverage of up to Rs. 50,00,000. But not all plans will prove as beneficial as the others.

Here are 5 tips that you must keep in mind before buying a family health insurance plan-

  1. Co-pay amount- Co-pay amount is the minimum amount that an insured individual must pay and only after paying the amount does the insurer pay for the remaining hospital or other medical expenses. It is important to note that you should opt for a zero-co-pay amount helping you to pay nothing from your pocket. It also ensures that your insurance provider aims at offering the best offers to you.
  2. Hospital Room Rent– Some insurance providers do not offer the freedom to the insured individual to choose a hospital room that suits them best. There is a cap on the room rent which limits the room rent expense that will be covered by the insurer. If you chose a room with a fee higher than the amount the insurer will not be liable to pay for the same. Hence, always choose an insurance cover that does not put a cap on the hospital room rent under the policy terms.
  3. Research on the list of network hospitals– While choosing your health insurance plan, always look at the list of insurer’s chains of network hospitals. Ensure that these are easily accessible and provide good quality health care facilities. It is also important to know that only these hospitals help you avail the cashless treatment facilities. Also, ensure that your health insurance plan covers ambulance charges and pre-and-post hospitalization expenses.  
  4. Choose a premium amount based on your needs– This is one of the most important aspects of choosing a health insurance cover. The better the benefits, the higher are the premium amounts. Hence, keep in mind the size of your family, your investment budget, etc., before choosing a family health insurance cover for yourself and your family.
  5. Choose a plan that covers all your family members- Make sure your family health insurance covers all your members i.e., your partner and your children. You can also include your parents in the plan by getting an add-on benefit. This way, you will rest assured that all the members of the family have a health safety cover that will protect them in time of need.

The above 5 tips will help you find family health insurance that will cater to all the needs and expectations of your family. It is worth knowing that health insurance covers provide the benefit of Income Tax exemption under Sec 80D of the Income Tax Act.  

If you are looking for a family health insurance cover with all the above benefits, you can visit Bajaj Finserv’s website, wherein you will find a detailed description of various health insurance covers, their benefits, premium amount, etc.


IITSWEB is the Chief Business Development Officer at IITSWEB, a Magento design and development company headquartered in Redwood City, California. He is a Member of the Magento Association and an Adobe Sales Accredited Magento Commerce professional. Jan is responsible for developing and leading the sales and digital marketing strategies of the company. He is passionate about ecommerce and Magento in particular — throughout the years his articles have been featured on Retail Dive, Hacker Noon, Chief Marketer, Mobile Marketer, TMCnet, and many others.

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