Know More about Family Floater Health Insurance
Family Floater Health Insurance Policy: -
A family floater health insurance policy is one where several members of a single family can be covered for sum insured and with the payment of a single annual premium amount. The sum insured under this plan floats upon all the family members insured in it and can be used to cover hospital bills and other medical expenses. Such plans provide coverage to your spouse, children, and dependent parents/parent in law with a common premium.
Benefits:-
- Entry Age: – Any person aged between 18 years and 65 years, can take this insurance.
- Family: – Proposer, spouse, dependent children from 16 days up to 25 years and depending parent/Parent in laws is also covered depending on the plans.
- Coverage: – It covers entire family under the umbrella of one health insurance.
- Premium saving: – Considerable saving in premium as the family is covered under one sum insured.
- Sum Insured: – It comes with maximum sum insured of Rs. 1 crore depending on the plans.
- Cumulative Bonus: – The insured person will be eligible for cumulative bonus of the basic sum insured for each claim free year depending on the plans.
- Life-Long Renewal: – Get life-long renewal, regardless of your health status or previous claim made under your policy.
- Wider Coverage: – Include In-patient hospitalization, pre and post hospitalization, day care treatment etc.
- Add-on Covers: – You can add addition policies to enhance your coverage like critical illness policy, maternity benefits etc.
- Tax Benefits: – It offers tax savings on the paid premium under section 80D of the Income Tax Act 1961.
What is Covered
- In-Patient Hospitalization Expenses
- Pre and Post Hospitalization
- Emergency Road Ambulance
- Domiciliary Hospitalization
- Organ Donor Expenses
- Alternative Treatment
- Day Care Procedures
- COVID 19 Treatment
- Health Check up
What is Not Covered
- Unproven Treatments, Unrecognized Physician or hospital
- Intentional Self-inflicted Injury or attempted suicide
- Injuries or illness due to war or nuclear perils
- Circumcision, External Congenital Anomaly
- Investigation & Evaluation, OPD Treatment
- Hazardous or Adventure Sports
- Cosmetic or Plastic Surgery
- Abuse of Alcohol or drugs
- Dental/Oral Treatment
- Obesity Treatment
- HIV AIDS
Waiting Periods:-
- Pre-Existing Disease: – Expenses related to the treatment of a PED shall be excluded until expiry of 36 months or 48 months depending on the plans.
- Specific Disease/Procedure waiting period: – Expenses related to the treatment of a specific diseases shall be excluded until the expiry of 24 months of continuous coverage.
- 30-days waiting period: – Expenses related to the treatment of any illness within 30 days of commencement of the first policy shall be excluded except claims arising due to an accident.
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Note: – Refer to the policy documents for further details on sub-limits, waiting periods and exclusions
