The family floater health insurance plan is designed keeping in mind the coverage requirements of the entire family. Feature wise, it’s quite similar to an individual health plan. The key differentiator is the fact that it provides complete health coverage to the whole family, says Naval Goel.
Under this plan the insured can provide coverage to her/his family, including self and spouse, parents and children as well. It is one of the best policies when it comes to providing coverage to your loved ones.
This single policy will cover all the members of the family, thus reducing your task of buying multiple health plans for your loved ones and managing them individually.
Basically the family floater plan provides coverage to the insured, her/his spouse and children, but there are some plans available which offer coverage to your siblings, parents and in-laws as well.
Nowadays the family floater health plan has gained increased popularity. There are around 30 companies which are offering health insurance plans in India, buying the best floater plan among these insures is not a tough task as today we have the comparison services which makes it easier for you to compare and buy.
Features of family floater health plan
Apart from basic features such as health coverage to the whole family under a single plan, sum insured amount floats for all the members, no medical examination for persons up to the age of 60 years, which varies from insurer to insurer, day care treatments etc are some vital features of this plan. With the help of this plan, policyholders would get coverage on medical expenses in case of hospitalisation.
This will include in-patient charges, boarding expenses, nursing care, medical consumables, necessary treatment, etc.
Pre and post hospitalisation expenses
- Pre-hospitalisation: It will cover the pre-hospitalisation expenses; the period of the same depends upon the norms of insurers.
- Post-hospitalisation: It will cover the expense incurred, with respect of medical treatment and essential examination for a specified period after discharge from a hospital for medical treatment related to the illness or bodily injury.
- Emergency ambulance charges: The ambulance charges in an emergency will also be covered by the insurer under the claim process.
- Medical check-up: Some insurance companies are also offering free medical check-up facility.
Advantages of the family floater mediclaim policy
- It is a helpful plan under which a single plan provides coverage to the entire family. It is also suitable for big families. A person can cover all the family members under a single plan irrespective of their age.
- Hassle-free coverage to entire family
- It reduces the task of selecting individual health plan for each member of the family and manages the same. It reduces the need of paying separate premium of health insurance for each member of the family separately.
Avail discounts
Under the family floater plan, you can get discounts and incentives that companies usually offer. It is one of the easiest ways to secure the health of your family.
Add new family member easily
In this mediclaim plan you can add a new family member easily. In case of the unfortunate death of senior-most member of the family, other members can continue with the plan without losing any benefit. This is one of the biggest benefits of this plan.
Include parents and in-laws too
Some insurers allow customers to add siblings and in laws by paying a little extra cost.
Useful features
It comes with many helpful and attractive features such as coverage on maternity, new born baby, etc.
Basic health coverage for family floater
Almost all the expenses related to treatment or hospitalisation is covered by the family mediclaim policy, but it is still vital to check the features of the plan and what it basically covers. You should check from when does the policy start covering the pre-existing diseases and check out the exclusions as well.
Maximum age of renewing the plan
Many health insurers offer plan renewal till 60-65 years. Nowadays, the lifelong renewal facility is also available with some insurers.
Claim reimbursement procedure
Check out the claim procedure of the company and the claim settlement ratio. Understand the procedure clearly as it will help you at the time of filing the claim. Many insurers are offering cashless facility hence do check it out.
Photograph: Jacki Gallagher/Creative Commons
Naval Goel is CEO and Founder, PolicyX
