HDFC Health Insurance Plans for Family

When you decide to purchase a health insurance policy, you prioritise a few factors:

1. A trustworthy/credible health insurer who will create no hassles during claim settlement.
2. An affordable health insurance plan
3. A policy that offers flagship and some basic features like no copayment, no room rent restrictions, no disease-wise sub-limits, unlimited restoration, limited restrictions, etc.

These considerations ensure that you have chosen a value-worthy health insurance policy. In this regard, HDFC Ergo has shown considerable promise in the last few years and it is now a popular choice among policyholders. Especially when it comes to health insurance plans for your family, the insurer has a few feature-rich and affordable plans.

What are the Best HDFC Health Insurance Plans for Families?

HDFC Ergo was founded in 2002 and has been offering a diverse range of insurance for a couple of decades. Considered as one of the largest insurers in the country, HDFC Ergo has held on to its popularity for long. Much of this popularity can be attributed to the good Claim Settlement Ratio (CSR) of 95.49% (industry average of 90.97%), low complaint volume of 6.23 (industry average of 24.029), an excellent network of hospitals (9300), and an excellent Incurred Claim Ratio of 85.27 (industry average of 82.96%).

While it's true that the health insurance plans from this insurer are a tad bit more expensive than the industry standards, the insurer’s policy features and operational efficiency make it worth the trouble. When you are seeking a health insurance policy for your family, such an insurer is what you need.

Here’s a look at the top 3 bets HDFC health insurance plans for families -

1. HDFC Optima Secure

HDFC Optima Secure is the best possible 2.0 version of Optima Restore and rarely has any caveats. The plan offers a good loyalty bonus, no room restrictions, and a Secure Benefit that triples your sum insured the moment you commence your plan. This boost in coverage is crucial when it comes to family health insurance policies considering that the sum insured is split among the members of the plan.  Optima Secure requires no copayment, has no disease-wise sub-limits, and has free health checkups.

Drawback: The only drawback with the plan is that much like other HDFC policies, this too is a bit more expensive than what is expected and that this policy has a waiting period of 3 years on pre-existing conditions.

2. HDFC Suraksha Gold

The myHealth Suraksha policy from the HDFC Ergo stable has 3 variants - Silver, Gold, and Platinum. While the Silver variant is the most basic policy and hence misses out on a few hits, the Platinum variant is pretty expensive. On the other hand, the myHealth Suraksha Gold policy is a great pick. On one hand, the policy is extremely comprehensive, with no outrageous terms and conditions, and on the other hand, the policy offers extensive coverage of ₹7.5 lakhs - ₹15 lakhs.

While the policy has a copayment feature, it’s an optional deal (that you most likely shouldn’t take unless you are a senior citizen or one with complicated pre-existing conditions that make it impossible to avail of a policy). There are no room rent restrictions, no disease-wise sub-limits, a good restoration perk, free health checkups, domiciliary coverage, and more.

Drawback: While the plan is affordable, the waiting period on its pre-existing conditions is fixed at 3 years. Also, the plan’s No-Claim Bonus starts off with 10%, up to a maximum of 100% and it comes with a clawback.

3. HDFC Optima Restore

Optima Restore from HDFC Ergo is a solid pick considering the comprehensive coverage it offers, the absence of any atrocious restrictions and a good No-Claim Bonus (50% to 100%).

The plan doesn’t demand any copayment, has no disease-wise sub-limits, no room rent restrictions, 60 and 180 days of pre and post-hospitalisation coverage, daycare and domiciliary coverage, and good restoration perks.

Drawback: The policy has a slightly extended waiting period of 3 years for pre-existing conditions and it offers no coverage for alternative (AYUSH) treatments.

Here’s a quick comparison of premiums between the 3 plans (a couple of 35 and 30 years old, and a couple of children of 5 and 6 years) for a coverage of ₹20 lakhs-

Why Should You Choose a Health Insurance Plan for Your Family?

A family health insurance plan is a single policy that offers coverage to multiple members of your family. While individual health insurance policies are always a good pick, health insurance policies for families have their own set of pros -

1. Affordability: Since family health insurance plans offer a single coverage for multiple family members, the risks of payout are spread thin. Thus, your insurers offer affordable premiums on your policies.

For an easy explanation, let’s take into account a family of 6 - husband (35 years), wife (30 years), son (5 years), daughter (6 years), parents (61 and 65 years).

Now, take a look

The premiums, in this case, are similar. However, please note that in the case of Individual health insurance policies, the plans only cover 2 adults and the overall price is similar to that of a family policy covering 4 members.

2. Convenient management of policies: Health insurance policies for families mean you have a single plan to handle. Naturally, this eases the trouble of handling multiple health insurance plans during renewal, portability, opting for add-ons, etc.

3. Inclusion of minors: In general, a majority of health insurance providers don’t offer individual health policies to children below the age of 18 years. However, since kids have low immunity and are susceptible to diverse ailments, they too need a health insurance policy for children. With a family health insurance policy in place, your minor kids are covered until the exit age (or unless they are 18+ and want to have a separate health insurance policy of their own).

Conclusion

Whenever a client approaches Ditto, we ask about their medical and financial goals. In case they already have an existing individual health insurance policy, we offer them family health insurance policies as an affordable option. While the family variant of these plans spreads the coverage thin, it offers a multitude of other perks like including your minor children, which makes the mode a solid choice.