Imagine a situation where a family member is suffering from an ailment or has met with an accident. The very thought of seeing your loved ones in pain can cause you mental distress. It could get worse if you have to worry about the medical bills being higher than what you could provide for. A family forms an integral part of your existence and taking care of them is an obvious priority. Medical emergencies unfortunately don’t come with a warning and medical costs are rising by the day which is why it is imperative that you buy a comprehensive health insurance plan for you and your family.
If you have a family that is financially dependant on you, you should look for a healthcare policy that will provide broad coverage for all your family members. Family floater health insurance is the best recommended plan when it comes to securing the health of your family. A family floater plan is especially designed keeping in mind the healthcare needs of your loved ones. It omits the hassle of managing multiple insurance policies by offering several benefits under a single umbrella.
What are the Benefits of a Family Floater Plan?
Family floater health insurance, as mentioned above, saves you the hassle of keeping track of multiple policies that your family members may hold. And unlike other health plans, it provides coverage for your entire family and sometimes even for your extended family. The other benefits that this policy offers are:
- When compared, a family floater plan is more affordable than individual health plans.
- The sum insured in a family floater plan is higher which ensures that you do not fall short on funds when facing sudden hospitalisation.
- Since family floater plans cost lesser, you can increase your savings.
- With the family floater plan you can enjoy tax benefits under Section 80D of the Income Tax Act.
What is the Coverage that I Get?
Different insurance providers offer different coverages, depending on an individual’s requirement. The family floater plan by Bajaj Allianz, for example, provides the below coverage:
- The insured sum can range from Rs. 1.5 lakh to Rs. 50 lakh
- All expenses for day care treatments are covered
- The amount insured can be reinstated
- Ambulance expenses are covered up to a limit of Rs. 20,000 per year
- Access is provided to a cashless network of over 5,700 select hospitals across India
- Provides coverage for pre and post-hospitalisation charges. For pre-hospitalisation, the charges should be incurred 60 days prior to hospitalisation and for post-hospitalisation, the charges should be incurred 90 days after hospitalisation
- Offers lifelong renewal option
Apart from Bajaj Allianz, there are other insurers that offer the family floater plan. We’ve listed them below:
|Insurance Provider||Name of the plan||Features|
|ICICI Lombard||Complete Health Insurance||
|Bharti Axa||Smart Health plan||
|Apollo Munich||Optima Restore||
|Oriental Insurance||Happy Family Floater||
|Star Health Insurance||Family Health Optima||