Family floater health insurance

Family Floater Health Insurance

A family floater health insurance plan, as the name itself suggests, is an insurance plan that is tailor-made for families. It is quite similar to the individual health plan with an add-on benefit of providing health coverage for the entire family.

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The customer has the option to get a full family medical insurance coverage that includes self, spouse, children and parents. A family floater is the best insurance plan when it comes to safeguarding the health of your loved ones. Since it is a single policy for the entire family it relieves you from the task of buying and maintaining several health insurance policies for each family member. Usually, family floater health plans offer coverage to individual, spouse and kids.

However, there are some insurance companies that offer family health plans to cover siblings, parents and in-laws also. Family Floater health insurance plan is best choice when you want to cover Parent’s health insurance, spouse and kids insurance in one health insurance plan.

The concept of family health insurance plan is gaining immense popularity among individuals. In addition, with over 30 general insurance companies offering health insurance plans in India, choosing a best family floater health plan is no more a daunting task.

Easy access to internet is not only adding to one’s comfort of buying family floater health plans, but it is also adding more responsibility on individuals to learn all intricacies of the health insurance plans before making a final decision.

UNDERSTANDING FAMILY HEALTH PLAN Here are a few important FAQs that people usually consider before buying a plan. Go through them to resolve any confusion you might have regarding a health plan.

What is basic health coverage for family floater?

While making a comparison of different health insurance plans, it is important to make a list of basic health coverage offered under the policy. Almost all health plans offer day care expenses, in-hospitalization expenses, ambulance charges, etc. If you are planning for a child, you should go for the health plan that covers insurance for new born baby or simply add the baby as beneficiary to your existing family floater insurance plan. Also the policy comparison should be done keeping in mind your coverage for pre existing diseases, lifestyle and exclusions during the first 30 days of the policy.

What is the maximum age of renewing the mediclaim policy?

Many health insurance companies offer policy renewal till 60-65 years.

Nowadays, some health insurance companies also offer lifelong renewal facility. Make sure to choose the family floater health plan that would protect you when you need it most.

Can I increase the sum insured of a family floater plan?

The living costs never remain same, so is the cost of medical treatment. Most insurers offer the facility to upgrade the sum insured in the coming years.

Sometimes, when you renew timely and have No Claim Bonus the insurance provider company will reward you by increasing the amount of sun insured.

What is the claim reimbursement procedure in family floater mediclaim policy?

Although, all health insurance companies follow the same claim process as directed by the insurance regulator but there might be some differences in aspects of each company’s functionality. Before buying any health policy, make it a point to explicitly understand the company’s claim filing and settling process. Many companies these days offer cashless hospitalization so no hassle about collecting documents and filling them.

Do health plans under family floater insurance plan offer cashless hospitalization?

Nowadays, almost every health insurance company is offering cashless hospitalization in their network hospitals. This makes the hospitalization process seamless and hassle-free. However, it is imperative to cross check the same to ensure that names of good hospitals are included in the list.

What are the exclusions of the family floater Mediclaim Policy?

Before buying a family floater health insurance you must thoroughly read the policy documents to understand the exclusions of the insurance policy. Also make sure to understand different clauses mentioned in the insurance policy like pre-existing disease, cashless hospitalization, waiting period, etc.

[Source: http://insurancereturnss.blogspot.in/2016/05/family-floater-healthinsurance.html]