Keeping our loved ones healthy and safe is of the utmost priority for all of us. Therefore, to increase safety, security and to provide them complete support during sudden or chronic medical conditions, it is important to get everyone in the family covered under health insurance. But, since buying individual insurance plans for every member of the family is neither wise nor affordable, family floater plans are a favorable option keep things balanced.
What Is A Family Floater Health Insurance Plan?
Family-floater health insurance plans are specific insurance plans designed to insure and cover all members of the family under one umbrella. So, with these plans, every member gets equal and all benefits of health insurance.
Additionally, buying this policy is always considered a wise decision as it provides security and financial assistance for medical care and hospitalization for all family members under one single premium.
Why Buy a Family Floater Plan?
If you are thinking of buying individual health insurance plans for all your family members, you probably are unaware of the robust benefits of family floater plans. So, here are some of the reasons that make buying a floater plan a wise decision:
- Annual Health Check-ups
Typically, these plans provide complimentary annual health check-ups for all family members or offer coverage for the same. This is one of the key benefits of family floater plans as it enables you and your loved ones to stay on top of their health.
- Lifelong Renewability
The lifelong renewability feature makes family floater plans extra affordable and convenient, as getting all members insured for a lifetime in one purchase is a great benefit to rely on.
Getting family floater plans keeps your budget in check as they provide high sum insured at a single premium per year which is available to all family members. Plus, there is no set limit on claims, and you can even make multiple claims during the year if two or more family members fall sick.
- Policy Renewals
According to the IRDAI guidelines, the premium amount will depend on the age of the insured person and geographical regions. In addition, the premium for such plans is calculated based on the eldest insured person’s age.
These plans provide the benefit of adding a new member to the current sum insured. This mitigates the hassle of buying different plans and ensures the whole family stays financially covered for medical emergencies.
What To Look for While Buying This Plan?
When buying health insurance, the availability of wide options, amenities, and premium amounts can make the process confusing. In such a case, having the right guidance can save energy and time and can aid in choosing the ideal family floater plan. Therefore, here are key factors to consider while buying floater plans:
- Inclusions and Exclusions
Understanding what all is included and excluded from your family health insurance plans is a must.
- Hospital Network
Always buy family floater plans from providers having a wide hospital network.
- Pre & Post-Hospitalization Expenses
It is essential to understand whether your policy covers pre & post-hospitalization expenses as it will help save you from hefty hospital bills.
- Claim Settlement Ratio
One must buy a family floater plan from providers with a high claim settlement ratio, preferably above 85%.
Buy Your Family Floater Health Insurance Plan Today
So, family floater policies are not only an affordable and smart investment but also beneficial as they cover all members of the family under the same plan. However, buying the right plan is also crucial, which is why it is best to check all available options, research, and find a good insurance provider.
One of the best family floater plans can be availed from Care Health Insurance, which provides premium benefits with a 95.2% claim settlement ratio. In addition, the company also ensures 24*7 customer support to elevate benefits and service quality. Not only this, but it also covers modern-day treatment. So, what are you waiting for? Get your family floater health insurance plan now!