Health Insurance for Self and Spouse and 1 Kid

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.

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.

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.

You get the following benefits when choosing ACKO as your health insurance provider:

Our most comprehensive plan provides unmatched features:

Balances coverage breadths with affordability through:

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.

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.

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.

calculate your health insurance needs with health insurance premium calculator

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

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

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.

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.

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.

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.