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Which Health Insurance is Suitable for a Family?

Choosing the right health insurance for your family is a crucial decision that requires careful consideration and understanding. Learn more about family health insurance here.

  • 5,279 Views | Updated on: Dec 27, 2023

In an era where healthcare costs continue to rise, and the importance of maintaining good health is paramount, choosing the right health insurance plan for your family has become more crucial. This decision involves considering various factors, including your family’s unique healthcare needs, budget constraints, and preferences.

Medical emergencies come out of nowhere. You can save your family from facing the brunt of rising medical costs by providing them with financial coverage. Health insurance is the one tool that can offer financial support during an unexpected health crisis.

What is Family Health Insurance?

Family health insurance, also known as a family floater plan, is a type of health insurance policy that provides coverage for multiple members of a family under a single plan. This type of insurance is designed to offer financial protection against the high costs of medical care and treatment for various illnesses and injuries.

Who can be Covered Under a Family Health Plan?

Understanding who can be covered under a family health plan is crucial to make the most of the insurance option. Here is a list of people who can be covered to help you decide better:

  • Spouses and children are automatically added to all family floater plans.
  • Sons can generally be included in the plan up to the age of 18 or 25 (varies per plan).
  • They can be covered beyond that in extraordinary circumstances.
  • Daughters can be part of the plan until they are married. After that, however, widowed, single, or dependent daughters can be part of the plan, irrespective of age.
  • Parents can be a part of the plan if they do not have separate health insurance plans for family policy.
  • In some family floater plans, dependent in-laws can also be included in the coverage.
  • A few family health plans also allow dependent siblings to be a part of the plan.

Advantages of a Family Health Insurance Plan

A family health insurance plan offers a range of advantages that provide not only financial security but also peace of mind. Some of them are as follows:

Wide Coverage for the Family

Family floater health plans offer a range of benefits, including doctor consultation, cashless hospitalization, pre and post-hospitalization coverage, pre-existing illnesses coverage, and so much more.

Ease of Maintaining the Policy

A family floater plan eliminates the hassles of maintaining separate policies for every family member. You only need to track a single health plan and pay a single premium for the coverage of all members.

Continued Coverage Despite the Death of One Member

The policy remains active even if one of the insured family members dies, and the rest of the family can continue availing the policy coverage.

Tax Benefits

You can avail tax deductions under Section 80D of the Indian Income Tax Act for the premiums paid for a family floater plan in a year. You are also entitled to an additional tax benefit if you pay for an individual health plan for your parents.

Inclusions and Exclusions in Health Insurance Plan

Inclusions and exclusions are two essential components of any health insurance policy, and having a clear understanding of these can help you make informed decisions about your coverage.

Category Inclusions Exclusions
Hospitalization Room and board charges Cosmetic surgery
Intensive care unit (ICU) charges Non-emergency services
Surgery and anesthesia fees Self-inflicted injuries
Medications administered in the hospital Experimental treatments
Inpatient physician services Long-term custodial care
Outpatient Care Physician office visits Non-prescription drugs
Specialist consultations Cosmetic procedures
Diagnostic tests and labs Alternative therapies
Ambulatory Surgery Center services Routine eye and dental care
Prescription Drugs Prescription medications (generic/brand) Over-the-counter drugs
Formulary coverage (specific drug list) Experimental drugs
Mail-order pharmacy services Weight loss medications
Specialty drugs (e.g., biologics) Fertility drugs
Maternity Care Prenatal and postnatal care Elective abortions
Labor and delivery services Surrogacy expenses
Newborn care Infertility treatments
Breastfeeding support and supplies Gender reassignment surgery

How to Choose Health Insurance Plans for Your Family?

Selecting the right health insurance plan for your family can be a complex task, given the multitude of options available. Here are some of the factors you must consider while choosing the right health insurance plans for your family.

Policy Coverage

It is important to decide on a policy that covers a vast range of illnesses, hospitalization costs, ambulance charges, etc. Specifically, look out for the coverage of pre-existing illnesses in the family.

Waiting Period Clause

Check the waiting period for coverage of all illnesses and procedures. Choose a low waiting period policy for primary diseases and medical procedures.

Adding New Members

When buying a health plan, you must ensure that you can add family members to the plan. In the event a senior member of the family has passed away, someone else can be added to the policy. If a new child is born into the family, they can be directly added.

Lifetime Renewability

Lifetime renewability will ensure you can get the policy’s benefits in your old age. This will help you save yourself from finding a new policy. An age-specific limitation on health insurance plans for a family can leave you stranded, looking for a new policy at that age.

Network Hospitals

Best health insurance plans for family provides tie up with hospitals to help you avail good quality cashless treatments. Therefore, you should select the policy that has renowned hospitals from your locality in its network. Going to a network hospital makes the process of claiming your insurance accessible.

Why Buy Health Insurance Plans for Family Online?

It can be difficult to choose the finest family medical insurance plan in India because there are so many options available. By comparing the prices of several family health insurance policies online sites, you may save time. Here are some additional benefits of buying a family health insurance plan online.

Instant Quotes

The process of buying family health insurance is quite short because quotes from different insurance providers are instantly available. Compare the prices to determine which one best suits your requirements and spending plan.

Safe Payment Modes

Now that the world is digital, people prefer making payments online to using cash or cheques since there is less danger of fraud. Family health plan purchases can be made online using safe payment gateways and electronic payment options, including debit cards, net banking, credit cards, etc.

More Convenient

It is easy to buy a family health insurance plan online. When necessary, you can rapidly compare several options or get expert advice. Additionally, you do not have to wait in line to submit them or do a ton of paperwork when buying the plan.

Online Access To Policy Services

Once you have bought a family health insurance plan, you can quickly access your policy documentation online or by downloading the mobile application, and you can also take advantage of after-sales services. Health insurance for family claims can also be submitted online.

Individual vs. Family Health Insurance Comparison

When it comes to choosing health insurance, individuals and families face a significant decision: Should you opt for individual plans or family plans?


Individual Health Insurance

Family Health Insurance


A health insurance plan where only one person is insured under the policy.

A health insurance plan that offers coverage for all your family members that are insured under the plan.

Coverage/Sum Insured

The sum insured covers only the individual covered under the plan.

The sum insured is shared among all the family members.


More extensive coverage and the sum insured is offered fully to the insured individual.

More affordable as the premium payment for all family members is done through a single payment rather than individual payments for each family member.


These plans can sometimes be more expensive.

The sum insured may not be enough to cover all family members.

Ideal For

It is recommended for bigger families with senior citizen parents (over 60 years) as a family floater plan may not be able to cover all medical costs.

Recommended for smaller/nuclear families or a young couple.

Summing Up

Buying a family health insurance policy is a great way to save your family from medical costs and provide them with coverage during emergencies. Family floater health plans provide coverage to every member of your family. When choosing a policy for the family, you must read up on the different plans available. Ensure you have your and your family’s requirements from the policy clear.

Key takeaways

  • Selecting a comprehensive policy that includes extensive coverage for various illnesses, hospitalization expenses, ambulance fees, and more is crucial.
  • Ensure to review the waiting periods associated with the coverage of different illnesses and medical procedures.
  • Lifetime renewability guarantees that you can continue to enjoy the advantages of your policy as you age.
  • Family-oriented health insurance plans collaborate with hospitals to provide you with access to high-quality, cashless medical treatments.

- A Consumer Education Initiative series by Kotak Life

Amit Raje
Written By :
Amit Raje

Amit Raje is an experienced marketer who has worked in various Fintechs and leading Financial companies in India. With focused experience in Digital, Amit has pioneered multiple digital commerce in India. Now, close to two decades later, he is the vice president and head of the D2C business department. He masters the skill of strategic management, also being certified in it from IIMA. He has challenged his challenges and contributed his efforts in this journey of digital transformation.

Amit Raje
Reviewed By :
Prasad Pimple

Prasad Pimple has a decade-long experience in the Life insurance sector and as EVP, Kotak Life heads Digital Business. He is responsible for developing user friendly product journeys, creating consumer awareness and helping consumers in identifying need for life insurance solutions. He has 20+ years of experience in creating and building business verticals across Insurance, Telecom and Banking sectors

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