Why We All Need Family Floater Insurance Plan?
22 Jun 2016
If you are very concerned about your family’s health and safety and do not from where to start, then Family Floater plan is the answer for you. Noxious or illness can arise at any stage or time among your family members and at that time, stress about financial or monetary terms and hospital bills is not acceptable.
Floater family insurance plan covers all members collectively in one plan on a sharing basis. There is absolutely no limit on the cover that is provided for each family member.
Know about Family Floater Insurance Plan
Family Floater plan is an insurance policy that will cover your entire family which means you are not supposed to take number of different insurance policies for all your family members separately. The insurer of a floater family insurance plan can add up to 4 more dependent members under it such as his/her spouse, children, parents etc.
You can get such floater family plans extended and customized as per your requirements and budget.
The presumptions on which this policy works are:
- The family members will not fall sick or ill at the same time.
- Each family member will not have same hospital or medical expenses. It will vary as per the illness and preferred treatment.
There are many insurance companies online which are expert in making various floater family insurance plans and also assist you from beginning till the end when you put a claim in process during emergency situations.
Things that you must keep in mind while Finalizing a Floater Family Insurance Policy
Before you finalize a plan, make sure that you have applied an exhaustive search on the company’s portfolio, background, and available floater family insurance policies. You cannot just rely blindly on any company. There are various important points as mentioned below that you must keep in mind before you get such a plan.
- You must always calculate and take professional help on the amount of sum that will be insured for the entire family. It should not be too high and it should not be too less.
- While calculating premium, take into account various risk factors such as family’s medical history, prolonged diseases, and other heart ailments because even if one of your members is suffering from such diseases will lead to higher premium value.
If any member in your family is suffering with such diseases/ailment will use higher insurance amount/cover, and this will create an impact on the other member’s cover.
- Know about the hospital networks with which insurance company is associated all over the country so that you can get easy cashless treatments during your family’s dark hours.
- You must know about the co-payment that you are supposed to make when at the time of claim. For example of you choose to pay 20% of your sum insured of Rs. 200000, then at the time when you demand a claim, you are supposed to pay 20,000 as co-payment to settle the coverage and claim.
Right from room expenses to medical billing, everything is taken care under floater family health insurance plan.