What Are the Best Family Health Plans 2018?

Do you want to secure your family with a comprehensive family health plan? But, there isn’t just one option. While there are many family health plans in the market, it is better to compare and choose the one that best suits your requirement. In this article, we aim to look at some of the best family health plans available in the insurance market.

What Are the Consumer’s Basic Expectations out of a Family Health Plan?

In a world that is full of uncertainties, we all want our families to be secure! We do not want any unforeseen situation and the rising medical prices to take a toll on our pocket. While buying a family health plan, we expect comprehensive coverage, along with prompt response and service as and when required. But, at the same time, we expect lesser premium and a decent coverage amount, so that our health and medical requirements are taken care of. This is the least that any consumer expects out of a family health plan.

How Do You Choose The Best Health Insurance in 2018?

The market is full of choices. Each and every family health insurance plan offers some of the other unique benefits. The point here is, do you have to confuse yourself and settle on any random health insurance? Absolutely not! It is necessary for you to compare at least the basic aspects of the health insurance and then make a wise choice.

In order to help you with your endeavor in choosing the best family health plan, you may consider the below aspects.

  ü  Minimum coverage amount

  ü  Maximum coverage amount

  ü  Minimum age requirement

  ü  Maximum age limit

  ü  Number of family members covered under the health plan

  ü  No claim bonus

  ü  Co-payment

  ü  Room rent sub-limits

  ü  Overall response and service

  ü  Real time consumer reviews

  ü  Premium amount as compared to other health insurance options

Your consideration may not be limited to the above aspects. In fact, you may want to explore more and gain a comprehensive insight of the product that you are about to buy.

Now, comparing would not require you to visit each website and then a take a call. This article renders a comparison of some of the family health plans. The decision, nevertheless, would be yours.

What Are the Best Family Health Insurance Plan 2018?

Let us have a look at the features of some of the bestfamily health plans, such as Star Family Health Optima, Apollo Munich Optima Restore, Religare Care, Royal Sundaram Lifeline Elite and Max BUPA Health Comparison.

	Star Family Health Optima	Apollo Munich Optima Restore	Religare Care	Royal Sundaram Lifeline Elite	Max BUPA Health Comparison
Minimum Amount Insured	INR 2 lakh	INR 3 lakh	INR 3 lakh	INR 25 lakh	INR 2 lakh
Maximum Amount Insured	INR 15 lakh	INR 50 lakh	INR 60 lakh	INR 1.5 crore	INR 1 crore
Minimum Entry Age	18 years for proposer and 16 days for children	18 years for proposer and 5 years for children	18 years for proposer and 3 months for children	18 years for proposer and 91 days for children	18 years for proposer and 3 months for children
Maximum Entry Age	65 years	65 years	No maximum age limit for adults. For children, 25 years	No maximum age limit for adults. For children, 21 years	No maximum age limit for adults. For children, 21 years
Waiting Period	4 years for pre-existing illnesses, medical conditions. 2 years for specified diseases	3 years for pre-existing illnesses, medical conditions	4 years for pre-existing illnesses, medical conditions. 2 years for specified diseases	3 years for pre-existing illnesses, medical conditions	4 years for pre-existing illnesses, medical conditions. 2 or 3 years for specified diseases (depending on the variant selected)
Number of Family Members Covered	5	6	6	5	4
Room Rent Sub Limits	No sub-limits	No sub-limits	1% of the amount – each day	No sub-limits	No sub-limits
Co-Payment	20% co-payment	No co-payment	No co-payment	No co-payment	20% co-payment, depending on the situation
No Claim Bonus	Upto the pre-determined limits	50% of the basic amount assured for every claim-less year	50% to 150% on the basis of NCB	20%, subject to a maximum of 100%	100% in the 5 years
Incurred Claim Ratio of the Insurance Provider	63.96%	63.03%	61.13%	52.89%	55.16%

Remember, comparing along may not resolve your concern. You need to determine your requirement, do a feasibility check, and choose the best possible family health plan option for your family. As a consumer, it is necessary for you to know the product before buying it. Hence, it is always better to consult an expert and know everything about it.  All these considerations, checks and consultations should help you decide on the best family health plan.

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