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Get Health Insurance for Family of 4 Research Team | Posted On Monday, August 05,2019, 05:23 PM

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Get Health Insurance for Family of 4



You definitely want to ensure the safety and well-being of your family. This means your family must enjoy good health. Therefore, instead of availing separate health cover for family members, you can opt to avail a family floater health insurance plan.

This is a comprehensive health insurance policy that covers all the members of your family (self, spouse and 2 kids) and makes sure they receive the best treatment at good hospitals during a medical emergency, anywhere in India.

There are certain benefits of availing a family floater health insurance plan. You do not have to pay multiple premiums or manage multiple health insurance policies. All your family members are insured under the same health insurance plan. The premiums of family floater health insurance are lower and affordable; when compared to a number of individual health insurance plans. The policyholder enjoys additional discounts on adding new members to the existing family floater health insurance policy.

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Get Health Insurance for a Family of 4

Features of Family Floater Health Insurance:

The family floater health insurance plan allows you to save money and covers your family under a single health insurance plan. Single health insurance policies save you the hassles of managing multiple policies and remember the premium dates. Listed below are some key features of family floater health insurance policies:

  • A comprehensive Cover for Your Family Members: You can insure all your family members under a single health insurance policy. Some insurers also allow you to add parents or in-laws by charging an extra premium. However, you can insure your spouse along with two kids under your family floater health insurance policy. A single cover ensures all members enjoy high sum insured and extensive coverage for a wide range of ailments and medical treatment.
  • Rebate on High Sum Assured: Under the family floater health insurance plan; the insured may enjoy coverage of up to Rs 5 Lakhs in a year. A family floater health insurance plan offers rebates on a higher sum insured.
  • No Claim Bonus for Claim-Free Years: These policies generally come with a No-Claim bonus, which is a percentage of the sum assured. A 5% to 10% NCB is offered and added to the subsequent year’s sum assured for each claim-free year. In this way, the insurance company rewards the policyholder for remaining healthy across the year.
  • Cashless Claim Settlement: The family floater health insurance plan allows the policyholder to claim the cashless facility; while availing treatment at network hospitals. The cashless facility helps to reduce the out-of-pocket expenses as well as settle hospital bills easily; during hospitalization.
  • Policy Tenure: The family floater health insurance plan offers options on policy tenure. You can opt for policy tenure of 1, 2 or 3 years.

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What is Covered Under the Family Health Insurance Plan?

  • In-Patient Hospitalization: The policy covers all hospitalization expenses and offers the insured a cashless facility to settle the hospital bills. The policy covers all the insured members provided hospitalization takes place for more than 24 hours.
  • Pre-Hospitalization Expenses: The medical expenses undertaken before hospitalization are termed as pre-hospitalization expenses. All diagnostic charges and medical care involved before hospitalization are covered by the policy.
  • Ambulance Charges: Most insurers who offer family floater health insurance cover emergency ambulance charges. The sub-limits offered by insurers vary across policies.
  • Hospital cash: The daily hospital cash benefit is a rider benefit offered by many insurers. The insured member gets daily cash allowance on availing this rider. The hospital cash can be utilized to take care of the additional expenditures like medicines or basic requirements necessary to take care of the patient.
  • Restore Benefit: Many insurers offer the restore benefit feature for the family floater health insurance plan. This feature can be used to reinstate the basic policy cover in case the main cover is exhausted. However, this feature is only available for unrelated claims.
  • Daycare Treatment: Treatment like cataract surgery which does not require hospitalization for more than 24 hours can be termed as daycare treatment. This surgery requires the patient to be admitted for only a few hours. The daycare cover is not offered by all insurers.

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