Family Floater Health Insurance: Everything You Need to Know

Health care is a topic of concern these days. The good news is that people have started taking care of their health even more than before. Improving your diet or exercising is good to keep you fit and healthy, but nothing can be predicted these days. Looking at the rise in the cost of healthcare, purchasing a health insurance policy is a wise decision. Along with yourself, you also want to take care of your family’s health, in case of a medical emergency. Hospitalization can drain your savings and put a burden on your finances with all the diagnostic tests, hospital and medicine bills, etc.

Even if you have a nuclear family, you’re likely to get caught in life-threatening circumstances. Proper treatment is necessary or there’s a danger to your precious life along with your family. What would you do in case there is a sudden need for hospitalization for either member of your family? To make sure you remain financially secured under situations like these, it is prudent to purchase family floater health insurance.

Benefits of having a family plan:

1. Flexible in nature

You can add any member who is a new addition to your family, to your floater plan. If you are newly married and plan to start a family, there is an option for you to choose for maternity insurance with newborn cover. And if your child hits the age of 18, then he/she will be excluded from the floater plan automatically.

2. Covers Parents

A few policies offer coverage for parents as well under the family floater.

3. Affordable Premiums

Individual health policies are great if you need customized plans by paying a slightly higher premium amount. If the price is your issue, you need not worry. Family floater health insurance plan has got your back, as it will not only cover every family member under a single policy and is also more on the affordable side.

4. The benefit of Tax Exemption

Under section 80D of the Income Tax Act, you’re free from income tax that is paid for health insurance as a premium amount for yourself as well as family.

Features of Family Floater Health Insurance

• You can avail of treatment for pre-existing diseases after serving a specific waiting period
• Several members of the same family can benefit from this cover
• Keeping in consideration the risk and location, you can either chose a high or low coverage amount, based on which the premium amount will be decided.
• There is a facility of cashless health insurance if you get hospitalized in one of your insurer’s network hospitals.

How to opt for a good Family Floater Online?

Given below are a few factors that can be considered while buying the plan:

• Make sure that the plan you’ve selected offers flexibility, so you can increase the sum insured
• Check the list of network hospitals offered by your preferred insurer. Make sure the list consists of at least 2 hospitals in your vicinity for medical emergencies
• Look for the waiting period offered to you by your insurance provider in case of pre-existing diseases
• Choose the policy with maximum renewal age of every member
• Go through the exclusions mentioned in your policy document carefully so youdon’t have to face any hassle at the time of insurance claim. Check if the coverage you’re looking for isn’t excluded from the policy

You can buy the family floater health insurance policy online in a few clicks, without having to worry about visiting the branch office or contacting an agent. Provide the necessary accurate details on your insurer’s website and your policy will be issued in just a few minutes. Make an informed choice for your family and secure their future with the right plan.