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Top 5 Health Insurance Plans for Parents and Children

Author: Priyesh Pandey
by Priyesh Pandey
Posted: May 03, 2018

Health is the biggest asset, the greatest wealth anyone can have. But when one falls sick, treating your ailments and problems can be cumbersome especially because medical costs are rising by the day. To tackle this issue of financial stress, you need to invest in a good health insurance plan. When choosing a plan, you need to decide whether you want to go in for individual plans or family health plans.

Benefits of Opting for Family Plans for Parents and Children

When compared to individual health insurance, family plans are better because:

1. A family floater helps you save up on premiums since you do not have to pay individual premiums for all members of the family.

  • 2.Purchasing health insurance for parents and children through a family floater frees you from the time consuming task of keeping a record and maintaining many kinds of insurance policies.
  • 3. Another essential advantage of family health plans is that all of the members in the family possess an equal share of the entire sum insured amount.

Types of Family Health Insurance Plans

There are various kinds of family health insurance plans that cater to every family’s specific needs and requirements. Here are a few of these plans along with their required details.

Star Health Insurance

Star Health Insurance offers you a family health plan in the form of Family Health Optima Insurance Plan. This policy offers protection to adults beginning from the age of 18 to 65 years. While dependent children are offered protection after the 15th day, the plan comes with lifelong renewability after the age of 65. It comes with a waiting period of 48 months while the minimum sum assured is INR1 lakh and maximum is INR15 lakhs.

New India Assurance

The Family Floater Mediclaim Policy provides a cover to adults between the ages of 18 and 65 years. The plan comes with lifelong renewability and in case of pre-existing diseases, has a waiting period of 48 months. Dependent children are covered from three months to 18 years. While maximum coverage amount is INR5 lakh, the minimum coverage amount is INR2 lakh.

Bajaj Allianz Health Insurance

The Family Floater Health Guard offers protection to adults from the age of 18 to 65 years while it covers dependent children from the age of 3 months to 25 years. Following a waiting period of 48 months, pre-existing diseases are covered. The minimum amount insured is INR2 lakh and if you purchase the insurance before 55 years, the maximum amount is INR10 lakh.

United India Health Insurance

This Family Medicare Policy comes with a minimum coverage amount of INR1 lakh and maximum coverage amount of INR10 lakh. Protection is offered to adults that fall within the age group of 18 to 80 years. It comes with lifelong renewability while dependent children are protected from 3 months of age to 18 years. The waiting period for pre-existing diseases lasts for 48 months.

National Insurance Company

The National Insurance Mediclaim Policy provides coverage to adults from the age group of 18 to 65 years. Dependent children from 3 months to 25 years are also covered. It consists of renewability that lasts up to 65 years of age while the waiting period of pre-existing diseases is 48 months. The minimum sum insured is INR50,000 and maximum amount is INR5 lakhs.

With the wide availability of plans and the kind of benefits medical insurance for parents as well as children brings you, you can know for a fact that going in for these family plans is your best option.

About the Author

Hey all My name is Priyesh, I have a passion for storytelling and collaborating with other talented writers. My day to day experiences inspires me to write and cover all insurance and finance related matter.

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Author: Priyesh Pandey

Priyesh Pandey

Member since: Feb 27, 2018
Published articles: 1

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