pays for your hospital bills for diagnostics, surgery etc.
Today, Health Insurance is no longer a luxury but rather a necessity. Rising costs of health care is taking treatments out of reach of most Indian families while illnesses are on the rise. It therefore becomes imperative that people opt for a comprehensive family health care plan.
Having a health plan allows you to access timely treatment for your medical problems. Many times it has been observed that people who do not have a health cover avoid taking right care just because they are not able to afford the treatment costs.
To make health plans affordable for the common man, insurance companies have devised the concept of family floater plan. A Family Floater Plan is supposed to be a more economical and efficient way of purchasing a health cover for your family.
A family floater plan is a way to cover the health of your entire family without incurring as much cost as you would need to shell out in case you were to go for an individual cover for each member in your family. This is especially true for a younger family where the age of the elder most member would be less than 45 years.
Assuming there are four members in a family and you intend to buy 1 lakh health cover for each member of your family, you would be better off if you choose to buy a family floater plan. The family floater plan would provide you a cover of 4 lakh but it would cost you much less. The 4 lakh cover in case of floater plan is the cumulative Hospitalization costs that the insurance company would cover in a year for the entire family.
The point I am trying to highlight is that if all members of the family were to be hospitalized in the same year the maximum costs that insurance company would pay for is 4 lakhs. But the benefit here is that the insurance company would provide cover for the same maximum amount (4 lakh) even if a single member of the family were to be hospitalized. This is not possible had you brought an individual heath cover for each member. So a family floater plan allows members of a family to share the cover so that they are able to afford the best treatment available for their health needs.
The other simple benefit being that you do not have to keep a track for a number of health policies but just administer one for the entire family.
In case you have still not got your family covered for health insurance do consider buying a family floater plan. But before you finalize a floater plan do make it a point to do some basic research. Also write down your needs with regard to the various health covers you may be looking for.