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How to Find the Best Health Insurance Plan for Your Family?

By Juhi Walia
15 September 2022, 1:24 PM

Health insurance plans are not made every day. So, while investing in them, you should be careful and knowledgeable enough about all the aspects and conditions of the plan to ensure that you do not repent later. Now, the question is, how do you find the best health insurance plan for your family? The market is afloat with different types of health insurance policies, each promising to be better than the other.

Hence, there are certain important factors that you must consider carefully to understand the plans properly before buying them. Here, we shall discuss some of the crucial factors that will help you in your journey of buying the most suitable health insurance policy for family.

Important Factors to Consider Before Choosing the Right Health Insurance Policy for Your Family

Right Coverage

If you wish to buy health insurance, please check the type of coverage the health insurance offers. Health Insurance is done to keep our future financially secure to handle any unprecedented health-related challenges for us and our near ones. So, coverage is a very important thing to know about when choosing the right health insurance.

The plan is to cover pre and post-hospitalisation charges, critical illness cover, maternity benefits, cashless treatment, ambulance charges, and other extensive medical expenses. It should cover and cater to all the members insured by it.

Always Check the Waiting Period in Health Insurance 

Usually, most health insurance providers cover cases like maternity expenses and expenses of diseases that pre-existed or on the treatment of specific diseases like hernia, veins after a certain waiting period.

This waiting period can vary from 2 to 4 years and from insurer to insurer, and you should not be overlooking the same. Choosing a plan that offers a minimum waiting period should be your choice.

Read more - Waiting Period In Health Insurance

Check How Flexible the Health Insurance is

While buying health insurance, you should check on the flexibility of adding a new member that it offers. How easy and hassle-free it is to add a new member to the existing health insurance plan is very crucial as this may save you unnecessary delay and harassment in the future.

In the case of the death of any of the insured members or the plan can no longer cover a senior family member, the option of adding a new member to continue with unaltered benefits should be there, and the process should be smooth and easy.

Choose a Plan that Offers Lifetime Renewability 

This is one of the most vital factors to consider before you buy health insurance. Check the tenure for which the health insurance benefits are offered. Is it for a lifetime or a limited period? So, if you have a health insurance plan with limited renewability, then after reaching a certain age, the plan will become invalid, and you will have to buy another plan with a much-hyped premium rate.

So, it is always better to choose health insurance that offers the option of lifetime renewability. This is to ensure your family members continue to have the same coverage in the future, even if the age limit crosses. 

Check Whether the Plan has a Co-Payment Clause

If a health insurance plan comes with a co-payment clause, the policyholder will have to pay a certain percentage of the amount. For instance, if the policy comes with a 10% co-payment clause, policyholders will have to pay 10% of the hospitalisation charges on their own.

So, look for the percentage of the co-payment clause and better to buy a policy without any such co-payment clause at all.

Check the Room Rent Limit

In case of hospitalisation, room rents turn out to be a great concern as it makes for a considerable expense. Also, the type of hospital room that will be eligible in case of hospitalisation is another important factor to know about.

So, always choose a health insurance plan with a higher room rent limit. Also, it should provide clarity about the type of room that the insured will be eligible for.

Thus, compare health insurance policies to know all these important factors and then choose the one that best suits you. Going through the points mentioned above, you can identify the best health insurance policy for your family. But are you thinking that with so many different health insurance products available in the market, how to make the right decision? Then visit Paytm Insurance

You will get the most seamless, paperless and contactless online health insurance buying experience. You can compare the best health insurance quotes from the most reputed insurance providers and get the best possible policy issues within minutes.

Read more -


1. What is health insurance?

 It is an essential insurance product that cover for medical and surgical expenses for the insured person during a medical emergency.

2. Why is it Important to buy health insurance?

Health insurance is absolutely necessary for today’s time to ensure that when faced with some critical illness in the family, you do not lose all your savings to clear the hefty medical bills.

3. What is the eligibility age to buy health insurance?

Any individual falling within the age group of 16 to 65 is eligible to buy a health insurance plan. And for children, this eligibility age is between 90 days to 18 years.

4. Can the same person have more than one health insurance policy?

Every plan is different and comes with varying benefits. So yes, you can have more than one health insurance policy in the same name according to your requirement.

5. What are the different types of health insurance plans available in the market?

  • Individual health insurance plan
  • Family floater health insurance plan,
  • Senior citizen health insurance plan,
  • Critical illness insurance plan,
  • Maternity health insurance plan,
  • Group health insurance plan,
  • Personal accident insurance plan
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