How to choose family medical insurance? Key comparison points and tips for purchasing.

Medical expenses are continuously rising, and in the face of sudden illnesses or accidents, securing a suitable medical insurance plan for your family can ensure support during critical moments and alleviate financial stress. However, with numerous family medical insurance plans available in the market, which one should you choose? This article will provide an in-depth analysis of the features of family medical insurance and compare the key factors to consider when making a purchase, helping you find the most suitable protection plan for your family.

There are numerous medical insurance options available in the market, including individual medical insurance, group medical insurance, and family medical insurance. What are the differences between them? Individual medical insurance can be purchased independently, with coverage tailored to personal needs, offering greater flexibility. Group medical insurance, on the other hand, is provided by companies and typically covers hospitalisation, outpatient services, and some additional benefits; however, the scope of coverage and renewal conditions are determined by the company, and the policy becomes invalid upon an employee’s resignation. Family medical insurance allows family members to be insured together, offering more cost-effective premiums compared to individual policies. Certain plans also enable family members to share the total coverage amount, making it particularly suitable for families seeking comprehensive protection for all members.

Family medical insurance offers coverage similar to general medical insurance, including hospitalisation and surgical benefits. Certain plans, such as the Bupa Shared Sum Insured Medical Protection Plan, also include optional outpatient, dental, and maternity coverage; additionally, they allow family members to share an annual coverage limit of up to HKD 5 million. Policyholders can obtain higher coverage at a lower premium, making it particularly suitable for families with limited budgets.

Coverage Details

When purchasing family medical insurance, the first consideration should be the family structure and the medical needs of each member. To ensure comprehensive medical protection for family members, in addition to hospitalisation coverage, special attention should be paid to whether the plan offers optional benefits such as physiotherapy, day surgery, and outpatient services. These additional benefits can address the specific needs of different family members and effectively reduce medical expenses. If you wish to share the annual coverage limit with family members, confirm how many family members the insurance plan can cover. Typically, plans cover spouses and children, while some may also include the spouse’s parents, grandparents, siblings, or even cohabiting partners and their immediate relatives.

Coverage Limits

Medical expenses can amount to a significant cost over the long term. It is advisable to consider medical inflation before purchasing insurance to ensure that the coverage amount of the family medical insurance can meet the long-term needs of each family member.

Co-payment

Some family medical insurance plans, such as the Bupa Shared Limit Medical Protection Plan, stipulate that compensation for certain items may only cover up to 80%, meaning the insured must bear the remaining medical costs. Before purchasing, it is wise to carefully compare the differences between various plans.

Assessing Existing Medical Insurance

If you already have medical insurance provided by your employer, first review whether its coverage is sufficient. If there are gaps, these can be addressed through family medical insurance or a “Top-up” plan.

Future Family Planning

If you plan to have children in the future, choose a medical insurance plan that covers prenatal check-ups, delivery expenses, and neonatal medical protection to ensure your baby receives comprehensive medical coverage from birth. Some insurance plans, such as the Bupa Shared Limit Medical Protection Plan, allow newborn babies of female policyholders to receive one year of free critical illness coverage, subject to application and underwriting approval.

If you wish to establish medical protection for your family, in addition to purchasing family medical insurance, you can also take note of offers from insurance companies. Taking the Cigna Voluntary Health Insurance Series - Flexi Plan (Superior) as an example, this plan currently offers a limited-time promotion where policyholders and their family members who successfully enrol together can enjoy premium discounts and shopping vouchers.

There are numerous types of medical insurance available in the market, and they often involve specialised knowledge, making it difficult for the general public to conduct their own research.  If readers have any queries, feel free to contact 10Life insurance advisors via WhatsApp for assistance.

Further Reading
【Which Voluntary Health Insurance Scheme is Best for 2025】Comparison of “5-Star” Plans – Which is the Top Choice for Middle-Class Families?
【Voluntary Health Insurance Comparison】Which Plan is Suitable for Babies and Children? Even Congenital Conditions Before Age 8 are Covered?
【Toddler Insurance】What Medical Insurance Should Parents Buy for Kindergarten Children?
【High-End Medical Insurance Comparison】Top-Tier High-End Medical Plans in the Market – Understand 3 Key Factors to Choose the Right Insurance
 

Last updated on: 7 April 2025

This English version of this article has been generated by machine translation powered by AI. It is provided solely for reference purposes. In the event of any discrepancy or inconsistency between this translation and the original Chinese version, the Chinese version shall prevail.