Health insurance floater plan provides security to the whole family, savings of money also

Special things related to this …

1. Financial security is available for less money

   • In this, all the family members are covered in a single plan. Also, everyone’s premium also comes the same. For example, it is understood that there are four members in a family. You take an individual plan of two lakh rupees for all.
   • In this, each will get a cover of only two lakh rupees. In contrast, if you buy a family floater plan of 8 lakh rupees, then everyone will get a cover of 8 lakh rupees instead of two. It is not necessary that all members become unwell at the same time.
   • 5 to 7 lakhs suddenly on the illness of a member. Family plotter will save you from financial trouble. The concept behind the companies behind this plan is that there is little chance of family members falling ill together.
   • Well, individual and family floaters are ‘Indemnity’ plans. This means that you get back the expenses incurred during the hospitalization.

2. 15 people of family can cover

   In the floater plan, you can take your family i.e. spouse, child, parents as well as in-laws, as extended family cover. Many companies also cover pre-existing parental illness in the floater plan. However, you will have to pay a higher premium for this. In total, you can cover 15 family members in a floater plan.

3. Add-on cover will be available for critical illness 

   If you cover the whole family in a single plan, then one of the advantages is that you are saved from the hassle of taking different policies and remembering their numbers and details. In such a situation, you can be saved from repeated problems by taking a policy for life time. Apart from this, there are many plans in which the option of add on cover of the CRITICAL ILLNESS is also found.

4. How long will it be renewable 

   Most insurance companies offer policy renewable options from the age of 60 to 65 years. However, there are some companies that also offer lifetime rewaiables. In such a situation, you choose a floater plan that gives you more and more financial security. At the same time, if you buy health insurance together for two years, then you will also get benefit in premium. 

5. This is how the family floater scheme works

   • A person purchased a family floater plan with an insurance amount of Rs 10 lakh to cover his family. The family consists of his wife and their two children. During the policy period, he gets dengue and has to be hospitalized. About 3 lakh rupees are spent in his treatment.
   • Under a family floater plan, they are able to claim this amount from their insurer and receive the amount after submitting the necessary documents and evidence. Under his family floater plan, he still has Rs 7 lakh left. These can be useful for themselves and other family members when needed.