6 Features You Must Compare Before Buying Family Health Insurance

September 29, 2022

Medical emergencies are one of life’s many uncertainties. With the rising cost of healthcare in India, purchasing a health insurance policy is nearly unavoidable.

However, with so many options available, finding a family health insurance policy that is right for you can be difficult. Don’t worry; we have made it easier.

Here is a quick list of the six factors to consider when purchasing the best health insurance plan for yourself and your family:

Network Hospital

Network hospitals directly connect with your health insurance company, allowing you to utilize cashless services in case of a claim. The cashless facility relieves you of the burden of settling your bill with the hospital because insurance companies directly settle the bill amount on your behalf. As a result, in this case, you do not need to file for claim reimbursement because the health insurance company has already settled the claim. You should look for family health insurance plans with the most network hospitals and, more importantly, the best network hospitals in your city.

Waiting Period

You will be in a better position to decide if you are aware of the waiting period clause. During this time, the insurer will not accept any claims based on pre-existing conditions or specific illnesses. And it can last anywhere from 24 to 48 months, depending on the insurer and the plan you choose. Furthermore, you will be able to claim the benefits only after this time period has passed.

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This waiting period will apply to pre-existing illnesses one may have before purchasing the policy. As a result, you can compare and select family health insurance plans with a short waiting period before claiming benefits.

Pre & Post Hospitalization Expenses

Pre-hospitalization expenses are costs incurred before you are admitted to the hospital, whereas post-hospitalization expenses are those incurred after you are admitted. Pre-hospitalization expenses are usually covered for at least 30 days, while post-hospitalization expenses are usually covered for at least 60 days. However, some insurance companies cover pre and post-hospitalization expenses for a longer period of time. As a result, you should look for family health insurance plans that cover you for the maximum number of days before and after hospitalization.


The premium you will pay is an important factor to consider when purchasing a health insurance plan. Having affordable family health insurance will help you in planning your yearly budget. However, it should not be the most important factor in your decision. Consider this: you purchase a health plan with a very low premium without even considering the policy’s features. When you file a claim, you discover that the insurance company is not obligated to reimburse you because the policy did not cover the medical condition you were hospitalised for. So you should be well aware of all the features, or else you may find yourself in a bind with a large hospital bill to pay when recovering from your health conditions or, God forbid, ailing.


A co-payment is a provision in health insurance plans that requires the policyholder to share costs. The specified percentage of the acceptable claim amount is referred to as cost sharing. Let’s look at an example to help you understand it better. Assume you have a health insurance plan with a 20% co-payment clause; if you are hospitalised, and the amount you are claiming is Rs 1 lakh, you as an insured would be responsible for Rs 20,000 (Rs 1 lakh * 20%), while the insurance company would pay the remaining Rs 80,000. As a result, at any stage of your life, you should look for family health insurance plans that do not include or have a lesser co-payment clause.

No-Claim Bonus

No-Claim Bonus or NCB refers to the insurance company’s discount for all years in which you have not filed a claim. For all claim-free years, your coverage amount is increased at subsequent policy renewals. However, the NCB limit is usually specified in most health insurance policies. The increase in the sum insured would be determined by the insurer’s specified limit.

Final Word!

It is worth noting that medical emergencies can occur at any time. As a result, it is critical to have adequate health insurance coverage to help you manage medical emergencies financially. Having adequate insurance coverage is essential in financial planning, which assists you in organizing your personal finances and achieving long-term financial goals. Family Health Insurance Plan offered by Care Health Insurance gives you the freedom to secure up to six family members in one plan and the flexibility to add new members to the existing plan.

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