Updated on 10 Dec 2025
The cost of healthcare in India is increasing annually. A sudden medical emergency can easily disrupt your savings. This is why countless families opt for a health insurance policy to keep themselves well-protected. However, for a family of 4, which normally consists of two children and two adults, the health plan stands out as a useful monetary protection. Through this blog, you will learn about family health policy, including which coverage to choose and more.
What is family health insurance?
Family health insurance, also called family floater plans, is a category of medical insurance that offers coverage to the entire household under one policy. Such policies cover all members of the family, including the policyholder, his/her children, spouse, and parents. One can even cover parents-in-law under a family floater plan, regardless of the fact that they are dependents of your spouse. A health insurance policy for a family offers financial protection against medical expenses arising from illnesses, accidents or hospitalisation. It ensures that the family members can get access to quality healthcare without constantly worrying about the cost of treatment.
How much health insurance coverage should be opted for a family of 4?
The cost of medical insurance for a family of four in India varies based on several factors such as age, number of family members and their health condition and coverage benefits. On average, the premium for a family health insurance plan with coverage of Rs 10 lakh per annum can cost between Rs 15,000 to Rs 25,000 per annum. However, the premium for a family health insurance plan increases with the policyholder’s age and the number of family members covered under the policy.
If you are looking to invest in health insurance for a family of 4 or any number of family members, compare different family health insurance plans from various insurance providers. Choose the plan that offers the most comprehensive coverage at an affordable cost.
It is important to take note of the factors that can affect the cost of family health insurance. For instance, the premium for family health insurance plans increases with the policyholder’s age and the family members covered. Furthermore, the premium for family health insurance plans is higher for individuals with pre-existing medical conditions.
While considering the medical insurance for a family of four, it should be kept in mind that the higher the sum insured, the more the premium for family health insurance. Also, plans with higher coverage benefits, such as maternity and critical illness coverage, have higher premiums.
What will be the cost of a health insurance policy for a family of 4?
The cost relies heavily on certain aspects, such as the coverage amount, health history and even age. Basic coverage can cost between ₹15,000 and ₹35,000 each month. For families with older parents, the premiums might be significantly higher.
How to calculate the premium for family health insurance?
The majority of the insurance firms offer a premium calculator online. In the calculator, you need to insert the following:
- All pre-existing health issues.
- The number of family members.
- Sum insured amount.
- The age of the eldest member of the family.
Based on this information, the online calculator will then display the annual premium.
Factors affecting the cost of health insurance for a family in India
In India, certain aspects can have a significant impact on the cost of the family insurance for the family. These include:
- Add-ons, such as critical illness or maternity cover.
- All existing health ailments.
- The type of hospital network.
- Chosen coverage amount.
Conclusion
The cost of a health plan for a family of four can vary significantly, but it’s a small investment compared to the financial burden of medical treatment. Ensure that you conduct thorough research before selecting a health plan for your family. That way, you can have a policy that will be ideal for your family. If you need tailored solutions and advice on health policies, fill out the form mentioned on this page. Let us help you find a health plan that meets your needs.
Disclaimer: The information provided in this blog is for educational and informational purposes only. It is not intended as a substitute for professional advice, diagnosis or treatment. Please consult a certified medical and/or nutrition professional for any questions. Relying on any information provided in this blog is solely at your own risk, and ICICI Lombard is not responsible for any effects or consequences resulting from the use of the information shared.