Family Floater Health Insurance
Family floater health plan means health insurance that which covers more than one member of a family for a fixed sum assured. Family health policy provides coverage for two or more members in a family in the same policy and at the same time. Family health plan normally covers you and your spouse along with up to 4 children. But some insurance companies allow you to include your parents in your existing health insurance policy. This family floater health insurance Protects you and your complete family in one policy. A family floater health insurance is the best family health plan when it comes to protecting the health of your loved ones. Family health insurance plan is the best key to full fill the heavy hospital bills at the time of hospitalisation. Family insurance policy helps in financial emergencies.
Family Footer Health Insurance Plan Covers
In-patient Hospitalization: Medical expenses are covered at the time of hospitalization. Suppose one family member is hospitalized for more than 24 hours, the insurance company will pay the cost of hospital bills up to your sum insured.
Pre-hospitalization Expenses: It means the amount used before hospitalization are named as pre-hospitalization expenses. For example, X-ray, MRI, blood test, urine tests, OPD, etc. are covered.
Post-hospitalization Expenses: It means medical expenses suffered after discharge from the hospital. For example, medicines or any medical tests are done after the discharge to check the improvement of a patient is covered in this policy.
Restore Benefit: This feature helps to restore the basic plan cover (sum insured) in case the coverage gets exhausted. However, restore benefit is applicable only for unconnected claims.
Day care treatment: Day care treatments means that treatments that do not require 24 hours of hospitalization.
Ambulance Charges: In family health insurance policy companies offering ambulance charges in case of emergency. The cost of the emergency ambulance charges is including in your policy.
Hospital Cash: Hospital cash provides a lump sum amount from the insurance company in case of hospitalization or this amount other basic requirements of the person attending the patient.
Family Footer Health Insurance Plan not Covers (Exclusions)
- Claim raised within the 30 days period of the health insurance policy (except accidental case).
- Any sexually transmitted diseases.
- Any treatment related to fertility issues.
- Any treatment and expenses incurred due to routine medical check-ups.
- Any treatment/surgery is done for gender reassignments or for gender change.
- Any treatment is undertaken abroad.
8 Things to check before buying family floater health insurance
- Family floater health insurance plan you are choosing
- Basic coverage under a family health plan
- Claim Settlement Ratio of the company
- Premium they are offering
- Ask for the maximum renewal age
- Flexibility to increase the sum assured of a family floater health plan
- Get hassle-free claim settlement
- Avail seamless cashless hospitalization
Best Family Floater Health Insurance Plan
Insurance Company | Family Health Plan | Age | Sum Assured | Pre & Post Hospitalization | Pre-existing Diseases |
Bajaj Allianz Health Insurance | Family Floater Health Guard | 18 to 65 years; 3 Months to 25 years as dependent children | Minimum=2 Lakh; | Pre-hospitalization: 60 days; Post hospitalization: 90 days | After a waiting period of 48 months |
Star Health Insurance | Family Health Optima Insurance Plan | 18 to 65 years; lifelong renewability after 65 years of age; dependent child from the 16th day | Minimum=1 Lakh; Maximum=15 Lakh | Pre-hospitalization: 30 days; Post hospitalization: 90 days (7% of total expense max up to Rs. 5, 000) | After a waiting period of 48 months |
National Insurance Company | National Insurance Mediclaim Policy | 18 to 60 years; 3 Months to 25 years as dependent children; renewability up to 65 years of age | Minimum=50, 000 Lakh; Maximum=5 Lakh | Pre-hospitalization: 30 days; Post hospitalization: 60 days | After a waiting period of 48 months |
New India Assurance | Family Floater Mediclaim Policy | 18 to 60 years; 3 Months to 18 years as dependent children; lifelong renewability | Minimum=2 Lakh; | Pre-hospitalization: 30 days; Post hospitalization: 60 days | After a waiting period of 48 months |
United India Health Insurance | Family Medicare Policy | 18 to 80 years; 3 Months to 18 years as dependent children; lifelong renewability | Minimum=1 Lakh; Maximum=10 Lakh | Pre-hospitalization: 30 days; Post hospitalization: 60 days subject to max up to 10 percent of sum assured | After a waiting period of 48 months of continuous renewal with the company |
Oriental Insurance Company | Happy Family Floater Policy | 18 to 65 years; lifelong renewability after 65 years of age | Minimum=1 Lakh; | Pre-hospitalization: 30 days; Post hospitalization: 60 days | After a waiting period of 48 months of continuous renewal with the company |
SBI General Insurance | Smart Health Insurance | 18 to 65 years; 3 Months to 22 years as dependent children | Minimum=1 Lakh; | Pre-hospitalization: 30 days; Post hospitalization: 60 days | After a waiting period of 24 months |
Manipal Cigna Health Insurance | Family Floater – ProHealth Protect Plan | Adults – Greater than 18 years 3 months to 23 years as dependent children | Minimum – 2.5L | Pre hospitalization: 60 Days; Post Hospitalization: 90 Days | After a waiting period of 48 months |
Cashless Mediclaim Policy for Family
It means that the insured don’t have to spend any amount on hospital bills. You just have to show your health insurance card and all the expenses will be paid by your health insurance company. Cashless facility is available only in the network hospitals. The health insurance company should have to tie up with the hospital, only then you can avail the cashless feature.
Family Floater Health Insurance Companies in India
- Star Health and Allied Insurance Co. Ltd.
- Apollo Munich Health Insurance Co. Ltd.
- Max Bupa Health Insurance Co. Ltd.
- Aditya Birla Health Insurance Co. Limited
- Cigna TTK Health Insurance Co. Ltd.
- Religare Health insurance Co. Ltd.
- National Insurance Co. Ltd.
- The New India Assurance Co. Ltd.
- The Oriental Insurance Co. Ltd.
- United India Insurance Co. Ltd.
- Acko General Insurance Ltd.
- Bajaj Allianz General Insurance Co. Ltd.
- Bharti AXA General Insurance Co. Ltd.
- Cholamandalam MS General Insurance Co. Ltd.
- DHFL General Insurance Limited
- Edelweiss General Insurance Company Limited
- Future Generali India nsurance Co. Ltd.
- Go Digit General Insurance Limited
- HDFC ERGO General Insurance Co. Ltd.
- L&T General Insurance Co. Ltd.
- ICICI Lombard general insurance Co. Ltd.
- IFFCO Tokio General Insurance Co. Ltd.
- Kotak Mahindra general insurance Co. Ltd.
- Liberty general insurance Co. Ltd.
- Magma HDI General Insurance Co. Ltd.
- Raheja QBE General Insurance Co. Ltd.
- Reliance General Insurance Co. Ltd.
- Royal Sundaram General Insurance Co. Ltd.
- SBI General Insurance Co. Ltd.
- Shriram General Insurance Co. Ltd.
- Tata AIG General Insurance Co. Ltd.
- Universal Sompo General Insurance Co. Ltd.
Advantages of a Family Health Plan
- Cover the cost of treatment for the entire family
- The premiums are affordable
- Every covered member gets high coverage
- Maternity coverage is allowed under many plans
- You can choose for a comprehensive cover
- New members can be easily added
- You get tax benefits
Family Floater Health Insurance Premium is calculated
The health insurance premium is calculated based on the Sum Insured you have opted for and the age of the senior most person of the family. The premium will increase based on the age of slabs according to the premium chart. In case of PSU companies such as National Insurance, The New India Assurance, The Oriental Insurance and United India Insurance the premium can increase without a change in age slab if the person has taken claim in the last year. They charge loading on it and thus your premium will increase.