CNBC TV 18 Your Money: Health insurance for family & claim process


I am Sachin Sharma, 29 from ludhiana working in PSU, I want to purchase family floater health insurance plan for my wife age 28 and son 01 year old for 5 lacs cover. Kindly suggest me which company I choose whom cover critical illness rider also, offline or online and how much premium paid with complete claiming process.


Options: Appollo Munich, Religare or some nationlised bank my details are:


  • Annual income: 03 lacs
  • Term insurance: 30 lacs hdfc click 2 protect plus
  • Contingency fund: 01 lac


Dear Sachin,

I appreciate your decision to get your family covered as this will ensure that you are prepared to face any unforeseen medical emergency. However I would also encourage you to be a part of the family floater that you intend to secure your family with as it will continue to give you cover even if you plan to switch your job, when the insurance provided by your current employer stops.

Coming to the second part of your query on which company should you chose? You can consider buying Bank of Baroda Health Insurance policy of Rs.5 lakhs family floater which will cost you Rs. 7,182 p.a. Please note, the policy is renewable up to 80 years of age and is available only to Bank of Baroda account holders. Alternatively, you can consider of taking Apollo Easy Health family floater (2 Adults + 1 Child) for Rs. 5 Lakhs (Rs. 15,900) with add on Critical Illness of Rs. 5 Lakhs this will cost you (Rs. 17,391) irrespective of the mode of execution (i.e. online or offline).

Coming to the process of claim, it differs in planned and emergency hospitalization.

Planned Hospitalization

To avail for inpatient hospitalization services, you can go in any hospital in the country. If it is from the network of hospitals of the insurer, you can avail the cashless service, where you can get the treatment for free. In this case, the company pays your treatment expenses directly to the hospital.

Emergency Hospitalisation: 

But, in second case, where you or your family member gets the treatment in non-network hospital, you have to pay the bill and then can claim, up to the sum insured, for the medical expenses incurred.

You can claim the money by filling the health insurance claim form, which can be collected either from company’s office, from agents or online. The following information should be correct to claim for the reimbursement of medical expenses.

Name of the policy holder

Contact details

Policy number

Date and time of problem

Location of problem

Nature of problem

Remember to provide claim intimation to the insurance company before hospitalization and claim documents to the insurance company within 7 days of discharge.


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