Best Family Health Insurance Plans in India 2021

Buying health insurance can be an intimidating and time-consuming task, but as your family grows, it's important to protect them against the unexpected. ValueChampion's experts have analysed hundreds of policies and thousands of quotes to help you find the best plan for your family.

Universal Sompo Complete Healthcare Insurance

Consider this if you're seeking a great, cheap policy.

If you're seeking an affordable health insurance policy for your family, Universal Sompo's Complete Healthcare Insurance is a great choice and is one of the best health insurance plans in India. They offer three levels of family health insurance - Basic, Essential and Privilege - and annual premiums are up to 31% cheaper than the market average (for their middle tier of coverage).

Annual Premium Prices Indian Family Health Insurance Policies
Annual Premium Prices Indian Family Health Insurance Policies

In-patient hospitalisation is covered, as is domiciliary treatment and out-patient consultations. Each plan also covers Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homeopathy (AYUSH) up to the sum insured amount, so your family members have the option of seeking alternative medicine and treatments if desired.

The Complete Healthcare Insurance plans also fully cover day care, as well as claims 30 days pre-hospitalisation and 60 days post-hospitalisation. These policies provide a maternity benefit as well, where delivery is covered up to Rs. 15,000.

TierSum InsuredAnnual Premium
Basic₹1,00,000 - ₹2,00,000₹2,395
Essential₹3,00,000 - ₹5,00,000₹6,577
Privilege₹6,00,000 - ₹10,00,000₹9,972

Universal Sompo has a 92% incurred claims rate (ICR), which is strong, but falls just outside the optimal range for an Indian health insurer. A healthy ICR is between 75-90%, which indicates a strong ability to settle claims against annual premium collection. Since Universal Sompo's ICR is just 2% above the desired threshold, it is not a concern, but it should be noted that they use annual premiums to cover risk transfer slightly more than is recommended.

The company also boasts a 93% claim settlement rate, which is one of the four-best rates of any insurer in our study. This indicates that policyholders can expect fast claim settlements with a minimal amount of obstacles.

Universal Sompo Complete Healthcare InsuranceMarket Average
Claim Settlement Rate93%91%
Network Hospitals7,7006,186
Market Share0.56%3.13%
Sum Insured Range₹1,00,000 - ₹10,00,000₹1,94,118 - ₹56,87,500
Annual Premium₹9,958₹14,498
Pre-hospitalisation30 days57 days
Post-hospitalisation60 days96 days
PolicyBazaar Reviews4.7 (12 reviews)4.1 (49 reviews)

Since the individual sum insured amounts are low compared to other family health insurance plans in India, Universal Sompo's Complete Healthcare Insurance plans are recommended for those who prioritize affordable annual premiums in exchange for a slightly lower scope of coverage.

The Complete Healthcare Insurance plans have a few drawbacks for families to be aware of. Most importantly, pre-existing illnesses or diseases will not be covered until the family plan has been active for three years. Their plans also do not cover birth control, sleep disorders or weight loss surgery, and the policyholder is responsible for the cost of vitamins and nutrients.

Why Choose Universal Sompo Complete Healthcare Insurance?

Universal Sompo's Complete Healthcare Insurance plans are a great choice because of their cheap annual premiums and their large network of hospitals. Families can rely on an in-network hospital in their area in case of an accident, and their claim rates make for fast and easy settlement processes.

Care (Formerly Religare) Health Plan

Consider this if you're seeking a plan with a high maximum sum insured.

If you're looking for one of the most complete family plans on the Indian health insurance market, Care Health Insurance, formerly known as Religare, offers one of the best health insurance policies for families in India. Care's Health Plan is their most comprehensive and is the best fit for most families.

The Care Health Plan provides coverage for both immediate and extended family members. Larger families, especially those with members having pre-existing health conditions, can opt for a plan with a high sum insured, which is a specialty of Care. Their Health Plan's offer insured sums up to Rs. 1 crore, the second-highest of any health insurer in our study.

Maximum Sum Insured Indian Health Insurers
Maximum Sum Insured Indian Health Insurers

Care's family health insurance policy can be applied outside of India, so it is the preferred insurer for frequent travellers. The Care Health Plan covers day care procedures, domiciliary hospitalisation is covered up to 10% of the sum insured, donor expenses for organ transplants and AYUSH treatments.

Care Health PlanMarket Average
Claim Settlement Rate84%91%
Network Hospitals7,4006,186
Market Share3.66%3.13%
Sum Insured Range₹3,00,000 - ₹1,00,00,000₹1,94,118 - ₹56,87,500
Annual Premium₹14,320₹14,498
Pre-hospitalisation30 days57 days
Post-hospitalisation60 days96 days
PolicyBazaar Reviews4.2 (38 reviews)4.1 (49 reviews)

There are a few drawbacks to the Care Health Plan. Both the insurer's claim settlement rate and its incurred claims ratio are sub-optimal, at 84% and 55% respectively. This may lead to longer settlement periods with a few obstacles along the way. Some key exclusions include any procedures within the first 30 days of a new policy, expenses due to self-inflicted injury, expenses for drug or alcohol misuse, and treatments due to pregnancy.

Why Choose Care Health Plan?

Thanks to its high maximum levels for insurance, Care Health Plan is best for large families and families who have members with pre-existing health conditions. Their annual premiums are reasonably priced for the amount of coverage they provide, and their large network of hospitals makes it simple and easy to find a medical facility in your area in case of an emergency.

Read More: Care (Formerly Religare) Health Insurance Review

Bajaj Allianz Health Guard Gold Plan

Consider this if you're seeking a strong claim settlement process.

Bajaj Allianz offers one of the best health insurance policies for families in India, called the Health Guard Gold Plan. It has one of the widest scopes of coverage of any health insurance plan in India, and consumers can choose from a variety of maximum sum insured levels.

The Gold Plan's maximum sum insured is Rs. 50,00,000, it covers all day care expenses, and covers AYUSH treatments up to Rs. 20,000 per year. Bajaj Allianz also covers all maternity benefits, claims up to 60 days before hospitalisation, and claims up to 90 days after hospitalisation. Donor expenses for organ transplants are fully covered, and policy-holding families receive a tax deduction under Section 80D.

Annual premiums for the Health Guard Gold Plan start 17% below the national average, which helps Bajaj Allianz offer one of the strongest scopes of medical coverage for the price.

Bajaj Allianz Health Guard Gold PlanMarket Average
Claim Settlement Rate98%91%
Network Hospitals6,5006,186
Market Share3.33%3.13%
Sum Insured Range₹1,50,000 - ₹50,00,000₹1,94,118 - ₹56,87,500
Annual Premium₹12,060₹14,498
Pre-hospitalisation60 days57 days
Post-hospitalisation90 days96 days
PolicyBazaar Reviews4.3 (38 reviews)4.1 (49 reviews)

Bajaj Allianz's Health Guard Gold Plan also carries some of the best claim rates of any family health insurer in India. Their 98% claim settlement rate is the best of any company we analysed, and their 85% ICR is one of the three most optimal ratios in our study, falling right into the healthy 75-90% range.

One of the key drawbacks of Bajaj Allianz's Health Guard Gold Plan is their zoned pricing structure. Zone A is for families in large cities like Mumbai, Delhi and Bangalore, while Zone B is for families in less populated areas of India. Both Zone A and Zone B plans carry identical coverages, but families in Zone A will be required to pay a nearly 20% higher annual premium for their medical insurance.

Why Choose Bajaj Allianz Health Guard Gold Plan?

For families seeking a strong level of medical coverage at an affordable annual price, the Gold Plan from Bajaj Allianz is one of the top options. Since this policy covers maternity and delivery costs, which can get expensive, couples who are looking to start a family or those who intend on growing their family are the best fit.

Read More: Bajaj Allianz Health Insurance Review

Magma HDI One Health Plan

Consider this if you're seeking multiple levels of coverage.

With Magma HDI's One Health plans, families have the option of choosing between five different policies, each with multiple levels of sum insured options. Their lowest tier of medical coverage is Support, and the highest is their Premium coverage.

SupportSecureSupport PlusShieldPremium

The average One Health policy can be up to 14% cheaper than market average for an Indian family health insurance plan. Magma HDI's plans offer important benefits, like critical illness coverage up to the sum insured, as well as personal accident coverage.

Like Care's policies, Magma HDI's One Health plans offer an emergency hospitalisation benefit, providing in-patient medical coverage outside India. However, Magma HDI will only cover up to 50% of the sum insured amount.

Magma HDI One Health PlanMarket Average
Claim Settlement Rate94%91%
Network Hospitals4,3006,186
Market Share0.13%3.13%
Sum Insured Range₹2,00,000 - ₹1,00,00,000₹1,94,118 - ₹56,87,500
Annual Premium₹12,424₹14,498
Pre-hospitalisation30 days57 days
Post-hospitalisation60 days96 days

Under Magma HDI's One Health plans, day care is covered up to the sum insured, and AYUSH treatment is fully covered. The company also has strong claim rates, including a healthy 90% ICR and a 94% claim settlement rate, so families can expect a smooth settlement process with minimal obstacles. Magma HDI's claim settlement rate is one of the five-best of any insurer in our study, and they are one of just six insurers we analysed to have an optimal ICR.

Those intent on starting a family may want to choose one of the previously listed insurance plans, since Magma HDI does not provide maternity coverage. The waiting period for pre-existing diseases is also 48 months, so the One Health policy may not be properly suited for those with pre-existing health conditions.

Why Choose Magma HDI One Health Plan?

Magma HDI's One Health Plan provides the largest number of options for families, and it's simple to compare them. With so many different options on the market and so many different needs for each family, Magma HDI makes it easy to find the right policy for you. They also provide a wide range of insured sum values, so you can be sure your family is covered no matter how big or small, and no matter how severe the medical situation.


Want to learn more about health insurance plans for families in India? Read our answers to some common questions on the topic.

Each and every family is different, has different needs, and has a different budget. Plus, there are so many policy options to choose from. The most effective way to choose is to evaluate not only what your family requires for coverage in the short-term, but also what they'll require as you continue to grow and expand. A great place to start is annual cost, and we've analysed the best cheap options for your family in a previous study.

In India, health insurance annual premiums are mainly priced according to the maximum sum insured that your policy provides. The higher your level of coverage and the higher the sum insured, the more expensive your annual premium will be. If you decide to sacrifice some coverage and choose a lower maximum sum insured amount, your annual premium will be cheaper.

Yes, all health insurance companies provide cashless hospital options so you can receive medical treatment without having to worry about out-of-pocket payments. Not all in-network hospitals are cashless, but most insurers have a list of strictly cashless options, if that is the preferred method of treatment and reimbursement.

For most insurers, there is no limit on the number of claims you can submit. However, you will no longer be allowed to submit any claims after the maximum sum insured amount has been reached for a given policy year. It's best to check with your insurer before finalizing your policy to make sure that they have not installed a maximum number of claims, but will use the maximum sum insured amount to create a limit on coverage.

Each insurer is different, but generally, family policies are limited to two adults and two children. Normally, only your dependents can be added to your family's plan, but due to the increasing need to insure growing and aging family members, some insurers are introducing new add-on options and new policies that allow an extended range of coverage for more members.


Our team of expert analysts identified the most prominent health insurance plans in India to gather data. We compared over 20 health insurance providers, over 100 different plans and nearly 15,000 quotes. We analysed the premium pricing and other relevant data points to better compare the insurance plans and select the best option for families.

Health Insurance Providers in ValueChampion’s Study
Aditya BirlaBajaj AllianzCare (Formerly Religare)Future GeneraliHDFC Ergo
ICICI LombardIFFCO TokioKotakLibertyMagma HDI
ManipalCignaNew IndiaRoyal SundaramSBI GeneralStar Health
Tata AIGUniversal Sompo

Our research is expansive and our analysis is thorough, but there were a few limitations. It's difficult to collect data for all plans and providers across India, so we selected the most prominent and comprehensive policy options. We also used Mumbai as the city of residence for our quote collection, since it's the largest city in India. We used a standard family of two adults and two children to arrive at our insured sum amounts and annual premium costs.

Mike Wagenman

Mike Wagenman is a Senior Research Analyst at ValueChampion India, specializing in insurance. He holds a Bachelor of Arts degree in Communication and Business from Rider University, and his prior work experience includes data, revenue, and business analysis in the international travel and technology markets. Mike has worked with clients around the world to help identify financial value and find the most optimal way to achieve success.