Health insurance is an essential component of any comprehensive financial plan, as it provides individuals and families with the peace of mind and protection they need to navigate unexpected medical expenses. One of the most popular types of health policies is the family floater plan, which provides coverage for an entire family under a single policy. Family floater health insurance policies in Niva Bupa offer a range of benefits and coverage options that make them an attractive option for those seeking comprehensive health coverage for their loved ones.
In this article, we will explore the various coverage options and benefits provided by family floater health insurance policies and how they can help you and your family stay protected and healthy. So, whether you are a new parent, part of a growing family, or simply looking for better medical insurance coverage, read on to learn more about family floater plans and how they can benefit you.
What do Family Floater Plans Cover?
The top health insurance plans for family will cover the following things:
Daycare Procedures
Daycare procedures are medical procedures that don’t need more than 24 hours in the hospital. Chemotherapy, cataract surgery, tonsillectomy, and other operations are some of the most popular examples of such procedures. 160+ such daycare procedures will be covered by the finest family floater policies.
Surgeries
A family floater health insurance coverage often covers operations, both big and small. However, you should double-check the list of procedures that each insurance company covers because it typically varies from one plan to the next.
Room Rent
This is the daily rate for a room or bed that an inpatient must pay. It is typically one of the largest price categories in the event of hospitalisation. Thankfully, the majority of family floater plans will pay for this! Some of the better plans would also pay for things like service fees and hospital registration.
Health Check-Ups & Vaccination Expenses
Keeping an eye on our health is crucial, but it can also get expensive, particularly if the entire family needs to get checked up. Fortunately, a solid family floater health plan will provide free annual check-ups regularly. Additionally, a decent plan will pay for vaccination costs, which can be quite beneficial, particularly during this COVID-19 outbreak.
Medical Costs for both Pre-and Post-Hospitalisation
Healthcare costs in the event of a disease or medical condition may start far before hospitalisation and may continue well after discharge. Keeping this in mind, pre- and post-hospitalisation costs are typically covered by a family floater health policy. You may be able to extend this coverage under some plans by paying a higher price.
Advantages of Family Healthcare Insurance
Indecisive about whether to get a family floater plan or a separate plan for each family member? The decision ultimately depends on your demands. Family floater plans, however, offer several benefits over individual health policies. Among these advantages are:
Easier To Manage
The convenience of not having to manage numerous plans is one of the best features of family medical insurance coverage. One insurance protects everyone in your family, including your in-laws and extended family.
More Affordable
A solo policy is far more expensive than a family floater medical insurance coverage. Comparing these plans to individual health plans, they typically offer a significantly covered amount at a significantly reduced price.
Higher Sum Insured
A family floater plan’s sum insured is increased to provide coverage for the entire family. This will guarantee that there won’t be a funding crunch if two people get sick at the same time. One of the major advantages of family health policies is this.
Reinstatement Value
Some insurers guarantee a 100% restoration of the sum insured if the sum assured is used up while treating a patient. This guarantees that you have coverage even after the amount insured has been used up completely.
Better Tax Advantage
Section 80D of the Income Tax Act also applies to you as a result of the family floater plan. If you include your parents or in-laws who are elderly in your family health plan, you may be eligible for income tax deductions of up to ₹75,000 each year.
In A Nutshell
Family floater health insurance policies offer a comprehensive range of coverage options and benefits to protect you and your loved ones from unforeseen medical expenses. From hospitalisation and critical illness insurance coverage to pre and post-hospitalisation expenses, these policies provide a safety net for your family’s health and well-being. By selecting the right policy and coverage options, you can ensure that your family’s health is always a top priority, and you can be assured that you are prepared for any health-related challenges that may arise.
