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Selecting The Best Mediclaim Policy for Your Family: A Guide

All of us want a secure future for our loved ones. Health is an essential factor to consider to secure our family. However, even though we may take utmost care of our health and try to lead a balanced life, accidents and medical emergencies can happen to anyone, anytime. A health insurance policy for your family can take care of such unplanned situations.

If you do not have health insurance yet, fret not. There are multiple options for buying a medical policy for a family. But unfortunately, sometimes, people buy the wrong policy that fails to give the required coverage when needed. So you have to be careful and compare health insurance plans when selecting the mediclaim policy for family.

What is Mediclaim Insurance for Family? 

A mediclaim policy for a family is a medical insurance policy that covers all family members under a single health insurance plan. Such a family health insurance plan provides an assured sum shared by all the dependents of the medical insurance policy, assuming that all the family members will not require medical insurance claims simultaneously.

The dependents of a medical insurance policy are the policyholder’s family members. They may include the parents, spouses, and children of the policyholder. A good mediclaim policy for families should provide facilities like cashless hospitalisation, pre and post-hospitalisation coverage, and maternity coverage.

How to Select The Best Family Mediclaim Policy 

Following are some tips to help you pick the best mediclaim policy for your family.

  • Look for the right coverage: When you buy a medical insurance plan that covers your family, look for one that caters to the medical needs of all the family members. Select a comprehensive plan with several benefits and features, like critical illness coverage, cashless treatment, ambulance charges, in-patient hospitalisation, etc.

Consider the requirements of all the insured family members and compare different health insurance plans to know their offerings and limitations. There may be hidden factors that people usually miss at first glance. Therefore, read through several policies carefully and select the policy with no hidden costs and maximum coverage. You may consider the medical insurance policies offered by leading insurance providers like Tata AIG.

  • Flexibility to add new family members: When buying health insurance for the entire family, look for an insurance policy with the provision for adding new family members if required. In case a senior family member is not eligible for coverage under the policy anymore, or in the event of the demise of a family member, other family members covered under the policy should be able to continue using the policy without any complications.
  • Affordability of the plan: While a medical insurance plan should need your financial needs, it should also be affordable. The more benefits a health insurance policy offers, the higher its premium will be. Therefore, look for a reasonably priced mediclaim policy with an affordable premium for your family that provides sufficient coverage and benefits. You can always review the insurance policy later and increase the coverage as your family size and income increase.
  • Check the waiting period clause: A mediclaim policy for families generally covers pre-existing medical conditions and diseases and specific treatments like varicose veins and maternity expenses after a predetermined waiting period. This waiting period varies for different insurers. Check the waiting period for pre-existing diseases and specific treatments from different insurers. Look for an insurer that offers a low waiting period.
  • Look for a plan with lifetime renewability: Check the family health insurance policy’s tenure. You may choose a plan that offers lifetime renewability because the importance of health insurance increases in the later years of life. A mediclaim plan with lifetime renewability allows your family to enjoy the same coverage over the years, and there is no need to buy a new insurance policy after crossing the age limit. It saves you from buying a new insurance policy after a time and paying insurance higher premiums in your advanced ages.
  • Check the co-payment clause: Co-payment is the share of the claim amount that the policyholder agrees to pay on his own during the claim settlement of a mediclaim policy. The insurance provider pays the remaining part of the expenses. You may seek a family mediclaim policy with a zero co-payment clause to minimise your financial burden.


A mediclaim policy for a family covers all the family members insured under a single health insurance plan. Compare health insurance for families from different insurers and choose the best mediclaim policy for families with maximum coverage, low premiums, and features like a low waiting period and zero co-payment clauses.

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