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Health Insurance for Self and Spouse and 1 Kid

Securing your loved one’s health against rising medical expenses is now easy! Get comprehensive health insurance for Self and Spouse and 1 Kid starting @Rs. 20/per day*

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Securing your family’s future is key. Hence, prudent financial planning is vital. Health insurance cushions loved ones against medical inflation and unexpected illnesses. A good health insurance policy delivers ample coverage for hospitalisation, daycare procedures, and much more. Health insurance provides peace of mind, knowing it will be there to help with medical expenses. It's like a safety net that allows you to focus your energy on health and happiness. With the rising expenses of healthcare, it's reassuring to have this important protection in place for all your loved ones.

The need for health insurance for self and spouse and 1 kid
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Here is why health insurance is necessary when you have a spouse and a kid:

An unplanned hospitalisation or surgery can affect savings. Good Health Insurance provides financial protection from such unplanned expenses. Additionally, tax benefits with health insurance plans are also available. Up to Rs. 25,000 of premiums paid qualify for tax deductions under Section 80D, helping reduce the tax burden.

Which is the ideal plan for covering self and spouse and 1 kid under health insurance?
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When it comes to choosing the ideal health insurance plan for self, spouse, and one child in India, it's essential to understand the different types of plans available.


Family Floater Health Insurance
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Family floater health insurance plans cover the entire family, including self, spouse, dependent children, and sometimes, dependent parents, under a single policy.


Critical Illness Insurance
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Critical illness insurance provides a lump sum benefit if the insured person is diagnosed with a specific critical illness listed under the policy. 


Senior Citizen Health Insurance
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Senior citizen health plans typically have higher sum insured options, cover pre-existing diseases, and offer additional benefits such as annual health check-ups, hospital cash, and critical illness coverage.


Super Top-up Health Insurance
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Super Top-up plans are useful for those who have a basic health insurance policy or enough savings for smaller medical expenses but need higher coverage at an affordable price.

The importance of family floater health plans
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For families, the family health plan is often the ideal choice. It covers self, spouse, children, and dependent parents under a single policy, with the premium calculated based on the age of the eldest member. The entire sum insured can be used by one or all members, making it more cost-effective than buying separate individual policies. Additionally, it's hassle-free since only a single policy needs to be managed.

What benefits do I get for choosing ACKO?
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You get the following benefits when choosing ACKO as your health insurance provider:

ACKO Platinum Health Plans
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Our most comprehensive plan provides unmatched features:

ACKO Standard Health Plan
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Balances coverage breadths with affordability through:

ACKO Platinum Super Top-up
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Intelligently boosts existing plans through:

ACKO Personal Health plans stand out from other insurance providers with several unique customer-centric features. The plans offer a hassle-free claims experience with zero paperwork and instant cashless settlement, unlike most insurers, which involve extensive form-filling and verification delays.

How much sum assured in health insurance is needed for Self and Spouse and 1 Kid?
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Here are some tips on selecting a suitable sum insured for you and your family.

The goal is to choose an amount that fully protects yourself, your spouse, and your kid's healthcare, which is needed now and in the future despite rising medical expenses. Start with at least Rs. 10 lakhs and increase based on your circumstances.

How much do I have to pay to buy my ideal sum insured?
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The amount you need to pay for your ideal sum insured depends on various factors, such as the size of your family, the age of the members, your medical history, and the level of coverage you require. Let's examine three examples to understand the ideal sum insured for different family types and their approximate costs.

1. Ideal sum insured for self and spouse (without children or parents): 

A sum insured of Rs. 10-15 lakhs is considered ideal for a couple without children or parents. This amount provides adequate coverage for most medical emergencies and ensures financial stability. For instance, a couple aged 30 and 28 years can get a family floater plan with a sum insured of Rs. 10 lakhs for an annual premium of approximately Rs. 10,000-15,000.

2. Ideal sum insured for a nuclear family of 3 members (Parents and one child): 

A sum insured of Rs. 15-20 lakhs is recommended for a family of three, including parents and one child. This coverage ensures that the entire family is protected against medical contingencies without putting a strain on their finances. For example, a family with parents aged 35 and 32 years and a child below 5 years can opt for a family floater plan with a sum insured of Rs. 20 lakhs for an annual premium of around Rs. 18,000-25,000.

3. A family of six members, including ageing parents, self, spouse, and two children:

For a larger family with six members, including ageing parents, a higher sum insured of Rs. 25-50 lakhs is advisable. This coverage ensures that all family members, especially the elderly, have access to quality healthcare without worrying about the costs. For instance, a family with parents aged 60 and 58 years, self and spouse aged 35 and 33 years, and two children below 10 years can choose a family floater plan with a sum insured of Rs. 30 lakhs for an annual premium of approximately Rs. 40,000-50,000.

Cost breakup for the above examples:
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  1. Self and spouse: Annual premium of Rs. 10,000-15,000 for a sum insured of Rs. 10 lakhs.

  2. Nuclear family of 3 members: Annual premium of Rs. 18,000-25,000 for a sum insured of Rs. 20 lakhs.

  3. Family of six members: Annual premium of Rs. 40,000-50,000 for a sum insured of Rs. 30 lakhs.

calculate your health insurance needs with health insurance premium calculator

Should I invest in a high sum insured health plan?
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Investing in a higher coverage plan is a strategic decision for long-term health and financial well-being. Here's why:

  1. Rising medical costs: Healthcare expenses are increasing rapidly, and a higher sum insured ensures that you and your family have access to quality medical care without facing financial strain.

  2. Protection against critical illnesses: Higher coverage plans often provide better protection against critical illnesses, which can be expensive to treat and may require long-term care.

  3. Peace of mind: With a higher sum insured, you can have peace of mind knowing that you and your family are well-protected against medical emergencies, allowing you to focus on recovery rather than worrying about finances.

  4. Long-term savings: While a higher coverage plan may have a higher premium, it can lead to significant long-term savings by reducing out-of-pocket expenses and providing better financial protection in case of severe medical conditions.

Factors to consider while getting Health Insurance for self, spouse and 1 kid
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Following are some factors to consider while getting health insurance for self, spouse, and 1 kid.

  1. Declare any existing medical conditions upfront. This ensures transparency and accurate premium pricing.

  2. Choose a sum insured (amount covered) suitable for your budget and needs now, as well as potential future medical expenses.

  3. Make sure dependents like parents, spouse and children are adequately covered.

  4. Consider options like family floater plans, individual plans or group policies based on your current situation.

  5. Review what medical costs are included, like hospitalisation, ambulance, treatments, etc. 

  6. Understand any waiting periods before claims can be made for pre-existing diseases or conditions.

  7. Know about permanent exclusions like cosmetic procedures. This avoids uncertainties when filing claims.

  8. Disclose accurate medical histories and ages of all individuals to be insured so the right coverage is customised for your family's needs.

The goal is to find a suitable health plan that provides the needed medical protection for you and your loved ones now and in the future.

Which type of claim is better? Cashless or reimbursement claim?
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When it comes to health insurance claims, there are two main types: cashless claims and reimbursement claims. Both have their advantages, but cashless claims are generally considered more beneficial for policyholders.

Cashless Claims
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In a cashless claim, the insured person can avail treatment at a network hospital without paying any money upfront. The insurance company directly settles the bill with the hospital. Network hospitals are healthcare providers that have tied up with the insurance company to provide cashless treatment to policyholders.

Reimbursement Claims
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In a reimbursement claim, the insured person pays for the medical treatment out of their own pocket and then seeks reimbursement from the insurance company by submitting the necessary documents.

While reimbursement claims offer greater flexibility in terms of hospital choice, cashless claims are generally more convenient and suitable for most policyholders. The cashless facility ensures that the insured receives immediate medical attention without any financial burden, making it an ideal option for families with limited access to instant cash or those following a strict monthly budget.

Advantages of Cashless Claims
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Here are the benefits of cashless claims.

Financial convenience
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Cashless claims are particularly beneficial for families that follow a monthly budget and may not have access to instant cash. With cashless claims, they don't have to worry about arranging funds for medical treatment, as the insurance company directly settles the bill.

Immediate medical attention
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In case of an emergency, a cashless claim ensures that the insured person receives immediate medical attention without any delay due to financial constraints. This feature can be life-saving in critical situations.

Hassle-free process
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Cashless claims eliminate the need for the policyholder to pay the hospital bills and then seek reimbursement from the insurance company. This makes the process hassle-free and saves time and effort.

Why is raising claims easier with ACKO policies?
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ACKO, being a digital-first insurance company, offers several advantages that make raising claims easier and more convenient for policyholders. By leveraging technology, ACKO has streamlined the entire insurance process, from purchasing a policy to filing a claim, making it simple and hassle-free for customers.

One of the key benefits of choosing ACKO is the ACKO app, which serves as a one-stop solution for all your insurance needs. The app allows you to buy a policy, manage your insurance portfolio, and raise a claim, all from the comfort of your home or office. This eliminates the need to visit a branch office or deal with extensive paperwork, saving you time and effort.

When it comes to raising a claim, the ACKO app simplifies the process significantly. You can initiate a claim directly through the app by providing the necessary details and uploading the required documents. The app also informs you about your claim's status, ensuring transparency throughout the process.

As a digital-first company, ACKO has lower operational costs than traditional insurance companies. By saving on expenses related to physical branches, paperwork, and manual processes, ACKO can offer competitive premiums to its customers. This means you can get comprehensive coverage at affordable prices without compromising on the quality of service.

In a nutshell
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Rising healthcare costs make health plans vital for young families seeking financial security. Comprehensive policies adequately covering your spouse and child offer optimal value. Thereby, prudent households stay protected despite medical inflation.

Frequently Asked Questions (FAQs)
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Here are some common questions about Health Insurance for Self and Spouse and 1 Kid


Which health insurance is best for cashless treatment?

ACKO offers one of the best cashless insurance through an extensive network of partner hospitals. Policies are 100% digital, allowing faster admissions and claims settlement without payment worries.

How does family health insurance work?

Family plans bundle coverage for you, your spouse, and children under 26 years old. Premiums are usually cheaper overall than separate individual insurance costs.

How much health insurance is enough?

Adequate coverage balances premium affordability with protection from major costs through features like low deductibles, copay caps, and no limits for critical care.

What is the waiting period for family health insurance?

There are typically no waiting periods with family health plans. Coverage starts once you enrol and pay the first monthly premium.

Which age is best for health insurance?

The best age is early on, as prices rise significantly with age. Locking in coverage in your 20s or 30s secures lower premiums long-term.

Disclaimer: The plans, services, features, processes, and other details mentioned on this page are subject to availability and changes. Please check the applicable policy wordings before making any insurance-related decisions. Feel free to reach out to us at [email protected] for any queries.