Being the risk experts, we know that in health matters there should be no compromise and make sure that a comprehensive insurance scheme begins. It’s important to select the best combination of features and coverage ates to get everything you’d need into an ideal health insurance plan. The family floater health insurance plan is a robust and convenient Health Insurance Package. The package is designed taking into account the important role the health insurance plays in calculating the cost of medical emergencies.
Health is Wealth. Health is an Asset. We are happy, only if we are healthy. But, we all know that medical treatment has got more expensive, is getting more expensive and may continue to be more expensive. Health care has become a costly affair.
What is the Family Floater Health Insurance Policy?
The Family floater is a scheme that provides a set cover for more than one family member. The balance of the total insured floats around the entire family – that is, the cap can be used by any family member and for any number of occasions. A Family Floater health plan is identical to that of an individual health plan, the only difference is that it is expanded to include the whole family. A Family Floater Plan acts as a coverage shield for the entire family, and hence the term.
For example : If you buy a family floater plan with Rs 5 lakh as sum assured, for four members of your family. All four people put together can spend a maximum of Rs.5 Lakhs in one year. If one of your family members uses Rs 3 lakh of the sum insured then only Rs 2 lakh would be left for the rest of the family to use in one policy year.
Health insurance policies typically protect people, partners and babies. Some insurance companies do, however, have provision for covering dependent spouses, siblings, and spouses in statute.
To know more about Health Insurance, you can visit our website https://www.jayantharde.com or contact our representative at +91 712 2282029 or meet us at 51, Gurukripa, Old Sneha Nagar, Wardha Road, Nagpur – 440015.
How to select the best Health Insurance Plan for Family?
When it comes to health insurance, you can not rely on any one-size-fits-all package. Health Insurance is a scheme focused on a contract with legal jargon thrown into it. A Health Care program includes medical terminologies in addition to this. You can find that each of the various Health insurance policies on the market is unique in some way or the other, with its own advantages and limitations.
However, below are some of the important factors that you can keep in mind before buying a family floater health insurance plan.
Premium:
Insurance premium is usually the first thing most of us determine when buying an insurance policy. A family floater package offers health care at a reduced cost to the entire family compared to individual Mediclaims.
Co-Pay clause:
Co-payment means that the policyholder must bear a specified portion of the value of the claim. Of instance, the policyholder must bear 20 per cent of the cost in an 80 per cent -20 per cent provision and the remaining amount (80 per cent) may be asserted.
Sub-limits:
Health insurance providers can prescribe restrictions for certain diseases or treatments. For example: the policyholder may only demand Rs 20,000 for a cataract operation, but Rs3 Lakhs may be the policy amount guaranteed. Sub-limited plans are better but can charge higher premiums.
Waiting period for Pre-existing diseases:
You need to check whether the policy protects current illnesses. All current diseases can be protected in some plans, and in others, the policy holder has to wait a few years before making a claim.
Alternative Treatments :
Some policies also cover non-allopathic or alternative treatments such as homeopathic, ayurvedic etc.
- Waiting period for specific diseases.
- Disease wise capping (if any).
- Definition of family i.e., who and all can be included in a Family Floater plan with the insurance cover.
- Check if any of the (or) all day-care procedures are covered?
- Find out if any complimentary free-health check-ups are allowed?
Maximum Renewal age:
This criteria specifies up to what point the policy should be renewed. Find out whether or not life-long renewal is permitted.
No claim bonus:
Those are benefits the organization offers in the event of a claim-free year. It varies from company to business.
Check out the list of ‘exclusions’ provided in ‘Product brochure’ or consult the customer care of the concerned insurance company.
Claim Settlement Record :
Given the complexity of the product it is important to settle claims. Nevertheless, the data available in the public domain isn’t user friendly, so it’s necessary to use it in your evaluation. (Incurred Percentage of claims from some of the biggest health insurance companies.)
Restoration of Sum Assured :
Make sure you have ‘restoration value’ in your health insurance. For eg, you have a floater plan with a Amount Insured of Rs. 4 lakhs, and your spouse gets sick, and all the coverage is eaten. When, sadly, another member of your family gets hospitalized later in the same policy year, this feature will help you recover your Sum Insured in this case.
To know more about Health Insurance, you can visit our website https://www.jayantharde.com or contact our representative at +91 712 2282029 or meet us at 51, Gurukripa, Old Sneha Nagar, Wardha Road, Nagpur – 440015.
Source: https://hardejayant.blogspot.com/2020/04/best-family-floater-health-insurance.html
