Should I Go for Family Floater or Individual Health Insurance Plans?

by kumar rahul Best Insurance Deals

Health insurance holds immense significance in today's life. Considering this, what we must make sure that our loved ones are secure against any sudden health condition, illness or accident. Having a health insurance policy not only ensures financial protection against out of the blue exorbitant medical bills but also gives you< ultimate peace of mind. It gives you the strength to bravely deal with almost any medical condition that life could throw at you.

Since you never know the upcoming date on which you or one of your family members will fall ill or neither can you predict your hospitalization bills beforehand, it's always a wise decision to opt for a good health insurance plan before the time runs out like dry sand from your fists. There is undoubtedly a range of health insurance plans available in the market today. There are plenty of health insurers too.

Now the question comes down to whether you should go for individual health insurance plans or a family floater health insurance policy to cover all your family members under one single plan. Both of these plans have their own benefits and drawbacks. For the family floater health insurance plan, the major benefit is that you will have a health cover for a lower premium cost. You do not have to pay much and still get your entire family under a good health insurance plan. And to state the drawback of family health insurance, such plans do no ensure that the coverage will be sufficient.

However, you can opt for higher Sum Insured, but for that, you will pay a higher premium too. In addition, some health insurance providers impose limitations on Sum Insured. Plus, the premium of a family floater health insurance plan depends on the eldest family member being covered under the policy. So let's say the eldest member of your family is over 65 and has major health issues like heart diseases, etc., you can assume that the premium of the policy will be considerably higher. So the bottom line is, age and health issues of elder family members i.e. your parents will be a major factor in terms of determining the premium of the policy.

So what you can do in this case is opt for separate health insurance plans to cover the eldest members of your family. And yourself and your kids you can opt for a family floater health insurance plan. In this aspect, a family floater health insurance policy will do just a fine job since all of you are young and lead a healthy life.

But if you had chosen for a single-family floater plan to cover all your family members, it would cost you higher than the individual plans and the Sum Insured wouldn't be sufficient in the event of an unforeseen medical issue. So make sure you consider your family member's age, their present health conditions before drawing any conclusion in terms of buying a family floater policy. In terms of choosing a good health cover, do not only think from the perspective of low cost, but you must also consider the coverage option and protection.

But, now it should be clear to you what you should go for if you are confused between family floater health insurance policy and individual health cover. And if you are on the lookout for a good health insurance plan for yourself or your family, you can simply click here and instantly compare a bunch of health insurance plans with the highest coverage options and benefits and buy the plan online that suits your requirements for the lowest premium. Do not wait any longer to get a health insurance plan because later it will cost you considerably a higher premium.

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About kumar rahul Advanced   Best Insurance Deals

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Joined APSense since, October 31st, 2018, From Kolkata, India.

Created on Apr 21st 2020 00:42. Viewed 265 times.


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