With the increasing cost of healthcare and medical facilities, it has become mandatory for anyone and everyone to have a health insurance cover. There were times when health insurance was considered as an added benefit. But today, it has become a sheer necessity. Without adequate health cover, an individual is left to suffer with the financial hardships, in case of medical emergencies. During such critical times, worrying about money is the last thing one would want to do.
Health insurance can be offered either as a floater plan ( also called family floater) or an Individual plan (Non floater plan).
Family floater health insurance protects all members of your family in a single health insurance plan under a single sum insured amount. Such plans provide coverage to individuals, spouse, children, and parents with a common sum insured value and premium. Family floater insurance can be customised according to the unique needs. It covers for all expenses incurred towards hospitalisation, pre and post-hospitalisation expenses, critical illnesses and much more.
Family health insurance has a fixed insurance value/amount that can be used by all the people insured under the plan. For instance, if you purchase a policy with a cover of INR 500,000 for a year and include your spouse and children to the plan, this amount can be claimed for the health expenses of anyone within your family who are covered under the insurance plan.
The opposite of floater policy is an Individual policy. Here each insured member is covered for a fixed sum insurance amount/value. These type of policies are expensive as every single individual member is covered up to a sum insured value.
The most popular option in group policies is a floater policy plan.
PlanCover have been consulting on group healthcare plans to employers of businesses, startups, and small to mid-capacity organizations. If your company has employee strength between 7 to 450, PlanCover is the best place to buy the insurance. Specify your requirements and they will fetch you a list of matching insurances from the leading IRDAI-approved insurance companies in India. Connect to their team to purchase the best policy.
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