It is quite evident that the pandemic is not over yet and the constantly evolving new variants mutation further proves that the COVID-19 is not going to leave us soon. Moreover, the emerging rush, economic pressure and discomfort of moving back to the old regime of life such as socializing, studying, and working from office - all together are affecting our mental health. Above all, extreme weather conditions are further deteriorating the health of masses.
All such factors increase the need of having health insurance for every family member manifold. While there are several plans available for each member of the family but when the different members of the same family go out in search of insurance, a family floater health insurance plan makes a huge sense in several ways.
Primarily, the family floater health insurance plans are highly economical and convenient to manage vis-a-vis to buy and manage separate insurance plans for each member. The individual plan for one person for INR 5 lakhs sum insured costs approx INR 10,000 but the family floater plan that includes 2 adults plus 2 kids cost approx INR 20,000 for INR 5 lakhs. Certainly, this proves that family floater health insurance policies are much more affordable for an average salary person who can't spare extra money for separate insurance plans for each member. Simultaneously, the maintenance of the insurance portfolio becomes seamless as in a family floater plan, one plan needs to be managed in terms of timely payment of premiums, renewal or to raise the claim which can be a cumbersome process in individual health insurance plans.
For the past few years, there can't be a scenario where COVID-19 is not talked about. Amidst this highly contagious infection that could affect the health of the entire family at the same time, having a family floater plan becomes pivotal. A family floater plan pays for the hospitalization and medication of each member without any worry, including the treatment taken at a makeshift hospital or even at home. This plan fulfills the needs of all family members without much hassle and worry such as presenting different policies of every member to the hospitals or raising a claim for each member - all can be done with one policy
Moreover, kids under the age of 18 who are still not vaccinated are in dire need to be covered under family floater health insurance plans. Children are generally delicate and have weaker immune systems, moreover, exposure to public places, schools, malls, etc. make them more vulnerable to catching the virus. Therefore, they need to be covered under an apt health insurance plan.
Another benefit of the family floater plan is that it covers newborn babies without much of a hassle. After 90 days of birth, newborns are covered under family floater plans for their early vaccinations and postnatal care. In fact new plans are being launched that are giving coverage to newborns from day 1 in family floater plans. While there are not many individual health care plans available for new born babies, neither advised to buy a separate plan for them to avoid paying an unnecessary premium, family floater health care plans are quite beneficial for new parents to stay untroubled.
When we talk about family health plans, one thing that comes to our mind is what if the entire sum insured gets consumed, either by one or all family members in a year? And at the same time what would happen if another family member needs the health plan? Well then understanding the needs of the family, certain family floater plans come with restoration benefits. Restoration benefit allows the automatic refill of the complete sum insurance amount into the insurance post the entire sum insured amount is finished. For instance, if a sum insured of INR 5 lakhs gets exhausted within a year then the insurance company automatically provides another INR 5 lakh's sum insured to ensure that the policyholders don't face any challenges. Therefore, this feature ensures that the family stays at peace without worrying about their medical bills.
While above-mentioned points laid enough stress on the significance of the family floater plan, but at the same time it is important to consider certain factors before buying a family floater health insurance plan, such as:
Family always comes first for all of us where we ensure that their needs are always fulfilled. So while taking care of their happiness, do take care of their health safety too!
Written By : Naval Goel
Last Updated : December, 2021
Dr YSR Aarogyasri Scheme
Star Health Insurance Covered Diseases List
Non-Medical Expenses in Health Insurance
Having a Good Health Insurance Advisor
Health insurance is a must in traveling itinerary
Health Insurance Riders and their relevance
Difference Between Insurance and Assurance
*Terms and Conditions May Apply
(Showing latest 5 reviews only)
March 5, 2023
Ranjan Kumar VermaPatna
February 21, 2023
I got payment with in 3 working days. I am glad how Vomitha ma am who s the executive, listen me carefully and release the payment directly to my account. Thanks Acko
January 12, 2023
Dnt buy any policy from Star health They are big fraud my father is admitted in hospital crucial stage they reject our claims without reason i will filled case against company in consumer court shameless agency only single policy i trust HDFC Ergo
December 9, 2022
Mujhe khaas kar inki service best lagi. Policyx se mai hamesha services lungi. Maininki services se khush hu
December 9, 2022
Policyx helped me a lot in documentation process, I was skeptical at first but they made my work easy.
Request A Callback
मैने 2016 में PolicyX.Com से Health Insurance Online Purchase किया था। अभी 2021 से मैं STAR HEALTH का Policy continue किया हूँ। मैने अपनी Wife का (Gallbladder/Stone) ऑपरेशन 03/03/2023 को करवाया, हॉस्पिटल में बहुत ही अच्छी सुविधा प्रदान किया गया औऱ जब Discharge के समय मैने Cash Counter में जा कर पूछा की मुझे कितना पैसा देना हैं तो हॉस्पिटल प्रशासन ने मुझे कहाँ Thank you sir आपको कोई Payment नही करना आप अपने घर अच्छे से जाए औऱ अपना ख्याल रखे ! क्योंकी मेरा Health Policy STAR से हैं आपका payment का Confirmation STAR C