Corporate Health Insurance and Family-floater Insurance in Health Insurance

Start your financial planning by buying a health insurance plan as the inflation rate and the cost of medical treatment are so high. With changing lifestyles and increased exposure to life-threatening diseases, it's more important than ever to buy comprehensive health insurance that covers medical expenses for you and your family members.

However, people, especially those working in the corporate culture, often get confused between corporate health insurance and family floater insurance. Primarily, the masses are under the impression that corporate health insurance is sufficient to manage their medical expenses. And some big level of companies that also covers close relatives like parents, spouses, and kids under their corporate health insurance benefit. However, the truth is that there is a big difference between both these plans in terms of features, benefits, and sum insured. Corporate health insurance and Family floater health insurance have some differences and Here in this article, we will discuss these two widely used health insurances.

What is Corporate Health Insurance?

Corporate Health Insurance is a type of health insurance that provides coverage to a group of people such as employees of a company. Corporate Health Insurance is a synonym of Group Health Insurance.

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What is Family Floater Health Insurance?

A Family floater health insurance provides you and your family with a wide range of coverage options. These plans are less expensive than buying an individual policy for each member. The best way to ensure basic health insurance coverage is to buy a family floater health insurance.

A Family-floater plan can cover you, your spouse, two children, parents, and in-laws. The premium of this type of policy is based on these four factors that are listed below:

• Number of insured members
• Extent of coverage
• Sum Insured
• Age of the members

Corporate Health Insurance vs Family Floater Health Insurance

Below-mentioned is the table to show the differences between Corporate and Family-floater health insurance plans:

Conclusion

Now, you have understood that there is a big difference between these two types of health insurance. It is necessary to evaluate your and your family members health needs before making a selection between corporate health insurance and family floater health insurance plan.