What is Family Floater Health Insurance?

Comprehensive Guide to Family Floater Health Insurance

What is a Family floater in simple terms? Family floater health insurance is a single policy that Provides health coverage for all the family members. These policies eliminate the need to buy separate individual plans for each member. Below, you can find more details about a family health insurance policy.

Family Floater Health Insurance: Key Highlights

●These are specialised mediclaim policies that ensure coverage for medical expenses of all family members under a single policy. They typically feature a higher sum insured, which is shared among all beneficiaries.

●The policyholder needs to pay a single premium, and in most cases, the insurance company allows only immediate family members to be added to such plans. This means a policy seeker can add themselves, their spouse, and their children to the list of beneficiaries.

Some family floater plans allow the policyholder to add dependent parents, siblings, and even in-laws as beneficiaries.

What Does a Family Floater Health Plan Cover?

A family floater health insurance policy takes care of the following costs:

●Hospital Expenses
The added members get coverage for various hospitalisation charges like room rent, doctor’s fees, nursing fees, and other types of service charges.

●Pre and Post-Hospitalisation Charges
Typically, these plans cover medical expenses incurred up to 30 days before and 60 days after hospitalization. However, the time frame is subject to vary based on the policy you buy. So, be sure to read the terms and conditions thoroughly before enrolling.

●Preventive Check-up
The top-rated family floater health plans cover expenses for regular health check-ups and vaccinations for all family members.

●Wide Range of Add-on Covers
Finally, you may avail of several add-on covers like maternity cover, hospital cash cover, critical illness cover, etc. Although these add-ons will increase your insurance premium, they help customise the plan to meet your needs.

What Does a Family Floater Insurance Plan Not Cover?

Family floater insurance plans come with certain exclusions that are important to understand before purchasing. Common exclusions include:

●Pre-existing conditions: Illnesses or conditions diagnosed before purchasing the policy are typically excluded for a waiting period.
●Lifestyle-related conditions: Diseases caused by habits like smoking or alcohol abuse may not be covered.
●Self-inflicted injuries: Injuries resulting from attempted suicide or deliberate harm are not included.
●Cosmetic procedures: Treatments for aesthetic purposes, such as plastic surgery, are excluded unless medically necessary due to accidents.
●Alternative treatments: Procedures like Ayurveda, homeopathy, or naturopathy may not be covered unless explicitly stated.
●Transmission-related diseases: Conditions like HIV/AIDS are typically not covered.

Now that it is very clear what to expect from a standard family floater health insurance policy, you can proceed to apply for one online.

Star Health offers multiple family health coverage options with features like unlimited renewal bonus, unlimited restoration, and the option to cover parents and parents-in-law. So, you may want to explore these options and select a plan that best aligns with your requirements.

Also read:-

→ What is No Room Rent Capping in Health Insurance

→ What is PED in Health Insurance

→ What is Restoration of Cover in Health Insurance

→ What is the Recovery Benefit of Health Insurance

→ What Is the Sum Insured In Health Insurance