As all the fingers of the hands are not the same, similarly, all health insurance policies are also not alike. A policy may cost you less, but it does not cover your family members. The one which offers you maximum coverage has high co-payment, another one gives you extra benefits but has hidden charges. Which one should you select? Here are few things that you can consider to reap the maximum benefits out of it:

Age: A medical emergency can knock on the door at any age, so why take the risk? If you are young and recently started earning, opt for individual health insurance. It gives you comprehensive coverage as per your healthcare needs.

Family: People who have a loving family to take care of family health insurance policies are better options. You can include a maximum of six members in a single policy. It gives you relaxation from the hassle of buying or renewing separate policies for each member.

Financial Burden: Family protection is the priority for all. With health insurance for family, you can keep your family members secured under one umbrella. The premium is also low compare to individual health policy. It reduces your financial burden during a medical emergency.

Inadequate Corporate Policy: Do not rely on your corporate policy to protect your or your family’s health. Its Sum Insured is less and also do not offer other benefits. If you are single, invest in an individual policy. If you have a family of more than two persons, opt for a family floater.

Lower Premium: Discounts on family health insurance give great ease to your pocket! The premium is comparatively lower than individual health insurance. You need to pay only a single premium to cover a maximum of six members of your family.

Comprehensive Coverage: The best part of having health insurance for family is that all the insured members get comprehensive coverage under a single policy. Whether it is hospitalization, medication, or treatment, members can avail the claim up to the Sum Insured. Whereas, under health insurance for individuals, the scope of coverage is limited only to one person.

Tax Benefits: Health insurance is the best way to keep your health and wealth secured. The premium you pay against health policy gets tax exemption under section 80D. However, if you invest in individual health insurance, it goes up to Rs.25,000 per year. Under family floater, you can get tax exemptions up to Rs.1,00,000 (T&C apply).

Top Health Insurance Companies in India

Check the below companies that offer individual and family health insurance in India:

  • HDFC Ergo
  • Care Health Insurance
  • Go Digit
  • IFFCO Tokio
  • ICICI Lombard

You can check the details of the plan by visiting their official websites.


It is true the earliest you insured yourself, the sooner you can reap the benefits of medical insurance. Attaining 20s is perfect for investing in individual health insurance. However, once you grow as a family person, family health insurance works as your supporting pillar during a medical emergency. Thus, opting for what type of health insurance is ultimately depends on your priorities, but investing in any is crucial for all.