Health Insurance for Self and Spouse and 2 Kids

The typical Indian household consists of a family that includes a working individual, a homemaker spouse, and two children who are financially dependent on their parents. However, 

Increasing medical expenses can be worrisome. So it's important to have a comprehensive family floater health insurance plan. ACKO provides specially crafted family health insurance plans, ensuring inflation-adjusted healthcare coverage. Such future-proof protection also assumes greater importance as children transition into higher education and careers while medical expenses continue their upward trajectory.

With steep medical inflation, covering hospitalisation costs for four family members through savings is tough. Hence, purchasing tailored health policies acts as an indispensable long-term safety net - shielding from unpredictable illnesses or accidents needing significant financing. Further, tax savings of up to ₹25,000 annually make buying adequate insurance a smart investment.

The ideal solution for families consisting of self, spouse, and two children is often a Family Floater Health Insurance plan. This type of plan provides coverage for the entire family under a single policy, making it more cost-effective than purchasing individual plans for each family member. The sum insured is shared among all the members, and any member can use it as needed.

Our most robust plan offers unparalleled coverage:

Our affordable plan strikes the perfect balance between coverage scope and premium:

Enhance your existing health plan cost-effectively:

Each member has varied health needs across life stages as a nuclear family. Accounting for these individually gives clarity on arriving at the required coverage. 

For self and spouse, assess expected routine medical costs over a year along with probabilities of hospitalisation, major illnesses or surgeries based on lifestyle habits and hereditary illnesses.

For kids, factor in regular paediatric expenses like childhood illnesses, and contingencies needing hospitalisation.

Finally, cushion for unforeseen accidents/injuries. Adding generous buffers for steep medical inflation annually also gives peace of mind. Choose a sum insured to holistically cover all four individuals under one tailored plan.

When determining the ideal sum insured for your health insurance policy, it's essential to consider various factors such as your family size, age of the members, medical history, and financial capacity. Here are three examples of ideal sum insured for different family compositions, along with the approximate costs:

For a couple without children or parents, a sum insured of around Rs. 10-15 lakhs is considered adequate. This coverage amount should be sufficient to cover most medical emergencies and hospitalisation expenses. The annual premium for such a plan would be approximately:

For a family of three, including parents and one child, a higher sum insured of around Rs. 20-25 lakhs is recommended. This increased coverage accounts for the potential medical needs of the child and the higher risk of health issues as the parents age. The approximate annual premium for this plan would be:

For a larger family with ageing parents, self, spouse, and two children, opting for a sum insured of Rs. 30-40 lakhs or more would be a wise decision. This higher coverage ensures adequate protection for all family members, especially considering the increased healthcare needs of elderly parents. The annual premium for such a plan would be approximately:

calculate your health insurance needs with health insurance premium calculator

It's important to note that these are rough estimates, and the actual premiums may vary based on factors such as the insurer, the specific plan, and the medical history of the family members.

Investing in a higher coverage plan can be a strategic decision for long-term health and financial well-being. Here's why:

Tax benefits: Health insurance premiums paid for self, spouse, children, and parents are eligible for tax deductions under Section 80D of the Income Tax Act, making a higher coverage plan a tax-efficient investment.

Here are the factors to consider while buying health insurance.

Comprehensively assessing these criteria helps choose the most tailored health plan catering to both current and long-term protection needs for self and spouse and 2 Kids.

ACKO, being a digital-first insurance company, offers several advantages that make raising claims easier and more convenient for policyholders.

One of the key benefits of choosing ACKO is the seamless digital experience they provide. The ACKO app is a one-stop solution for all your insurance needs, from buying a policy and managing renewals to raising a claim. This user-friendly app simplifies the entire process, allowing you to access your policy details, initiate a claim, and track its progress, all from the comfort of your smartphone.

When it comes to raising a claim, ACKO's digital-first approach truly shines. Here's how:

In addition to the convenience of raising claims, buying insurance from ACKO is also more affordable than buying from traditional insurers. As a digital-first company, ACKO has lower operational costs, translating into competitive premiums for policyholders. This means you can enjoy comprehensive coverage at a lower cost, without compromising on the quality of service.

With medical costs and treatment complexities growing exponentially, quality health policies are essential for nuclear families, too - ensuring finances don't curb access to the best medical care for spouses or children. Sufficient family floater limits with cashless coverage through major hospitals give comprehensive, convenient protection when needed most.

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.