What To Look For In Family Floater Health Insurance Policy
What To Look For In Family Floater Policy?
Do all your family members have individual health insurance plans? Imagine if each of them didn’t need individual plans. Now imagine if the pooled money for everyone’s insurance built a super cover of a really large sum insured. More? What if you got discounts for having more people in your policy? If you like the sound of it, then you’d love a family floater health insurance plan!
Family Floater Health Insurance Plan extends the benefits of a cover to your entire family, typically including your spouse, up to three children under a certain age, and sometimes even parents.
Similar to an individual health insurance plan, you have to pay regular premiums but the sum insured in a family floater health insurance policy is higher. With a family floater health insurance plan, you also don’t have to juggle multiple insurances for each family member.
To choose the right health insurance plan for your family, look for these features-
Compare different plans and list the coverage offered under each, such as hospitalisation expenses, day-care expenses, ambulance charges etc. Before choosing one, ensure that any injuries which are by-products of your lifestyle (hazards at work), pre-existing diseases (if any), and genetic predisposition to certain ailments are covered. Also, if you are planning on having a baby soon, make sure that the floater plan’s coverage can be extended to the baby on birth.
Look for the maximum possible age renewal of policy so that you are insured when you need it the most. Most companies offer renewal of policy up to age sixty-five, but policies like Tata AIG MediCare (UIN: TATHLIP18004V011819) offer lifetime renewal facility.
Holding other factors constant, it is obvious that health expenses are bound to rise as you age. Your health insurance policy may need to be upgraded as time passes. Tata AIG MediCare allows you to increase the sum insured at the time of renewal basis your requirements.
Rebates and discounts
Most insurers offer rebates and discounts on their policies provided certain parameters are fulfilled. Keep track of such offers to set off the premium expenses. With MediCare policy you can get up to 20% discount on your premium for 2 members, 28% discount for 3 members and 32% discount for more than 3 members. Long term discount tenure is 5% for 2 years and 10% for 3 years.
Ensure that in the unfortunate scenario of your demise, your family can continue to enjoy the benefits of the family floater plan.
If you want to include family members in addition to the one the policy offers, for example, parents, you might have to pay an additional premium. You should also raise the sum insured in such cases.
With these points in mind, you can choose the right health insurance for your family!
Tata AIG MediCare (UIN: TATHLIP18004V011819) offer family floater health insurance plan is invested in your and your family’s health. The family floater plan is designed to include you, your spouse, your dependent children and the dependent parents under coverage.
With end-to-end coverage, you can protect your entire family and invest in a healthy future!
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