Oriental Insurance Happy Family Floater and Max Bupa Family Floater Heartbeat Plan : What to Buy?

Family Health Cover Insurance Products are insurance plans that provide health insurance to the entire family. Here we compare two policies – Oriental Insurance Happy Family Floater and Max Bupa Family Floater Heartbeat Plan.

Health costs are rising and it is important to cover yourself and your loved ones with health insurance. There are health plans that can provide insurance cover for the family. Here is a comparison of two of them – Oriental Insurance Happy Family Floater and Max Bupa Family Floater Heartbeat Plan.

Policy Name Oriental Insurance Happy Family Floater Max Bupa Family Floater Heartbeat Plan
Details It is a family health insurance cover. The family that includes spouse, parents, parents in law and children can be covered under 1 policy and a common sum assured value. There are two variants of the plan – Silver and Gold. It is a comprehensive insurance plan that can be applicable family consisting of spouse, parents, parents in law and children. There are 3 variants of the family floater – Silver, Gold and Platinum. Multiple relationships of family members can be covered.
Age Eligibility 55 Years is the maximum age at which insurance can be taken. There is no age limit on renewability. There are no age restrictions.
Sum Assured Rs. 1,00,000- Rs. 5,00,000 for the Silver Plan and Rs. 6,00,000-Rs. 10,00,000 for the Gold plan. The person buying the insurance should cover at least one more person under this plan. It is not an individual plan. The sum assured depends on the type of plan. The amount ranges from Rs. 2,00,000 to Rs.1 crore depending on the variant selected.
Premium for 1 year for 2 adults and 2 children Rs.19726(Gold Plan with Sum Assured – Rs.10,00,000 Eldest Person Insured – 35 years) Rs.30644 (Gold Plan with Sum Assured – Rs.10,00,000 Eldest Person Insured – 35 years)
Pre and Post Hospitalization Not applicable in the policy. Coverage for medical costs incurred 30 days before hospitalization.Coverage for medical costs incurred 60 days after hospitalization.
Key Features There is a cash allowance and attendant allowance inbuilt for 15 days of hospitalization in the Gold Plan.The insured has the option of either availing or not availing Third Party administrator services.There is no medical examination for people under the age of 60. Ambulance charges and domiciliary hospitalization is covered up to a certain limit. There is a possibility of getting overseas medical cover too on payment of requisite premium. Maternity benefits for 2 deliveries after 3 annual premiums are covered. Newborn babies are covered until next renewal. Vaccinations for the first year for the baby are also covered. Waiver for deductible between the ages of 58 and 60. There are free health check-ups available. Ambulance charges, emergency hospitalization and domiciliary hospitalization is covered up to a certain limit. There is a Health relationship program in some variants which will help the insured earn and redeem points or increase sum assured.
Pre-existing Medical Conditions Insurance cover will be available after continuous renewal of 4 years. The pre-existing diseases will be covered after waiting period of 24 months when the insurance cover is valid for the Gold plan and after 48 months during which the Silver Plan is valid.
Co-Payment Feature A co-payment of 10% is applicable in the Silver Plan which means the person insured has to pay 10% of the claim. There is no co-payment clause in the Gold Plan If the insured is above the age of 65 years, 20% of the claim has to be paid. This keeps reducing by 5% for every year of renewal and becomes 0 after 4 years.
Exclusions Certain ailments and diseases are not covered for certain time of the policy. Dental Treatments, Congenital conditions, cosmetic surgery, AIDS, Alternative Treatment, self-inflicted injuries and claim due to unlawful activity are not covered. A waiting period of 2 years for specified diseases for persons above age of 60 is present and for others, pre-existing diseases have a waiting period of 4 years. The first 90 days after taking the policy are not covered unless it is an emergency.

With Oriental cover, the positive points are that the premium is low. There are different variants and discount given if TPA is taken. The negatives are that there is no maternity coverage and co-pay is applicable in the Silver Plan. Coverage amount is restricted and there is a restriction on age for renewal. If you are looking for a lower sum assured and want to pay a lower premium, it is a policy that you can consider.

Max Bupa cover looks quite a comprehensive plan. This has different variants, and the sum assured range is big. It offers maternity coverage which is not common. Day care coverage is also available. On the other side, premium is high and there is much exclusion. There is co-pay if the insured is above 65 years old. If you are looking for a higher sum assured and a range of family relationships to be covered, this plan can be considered.


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