This is an interesting story of Dinesh, a 30-year-old guy from a small city in Erode district, Tamil Nadu, who was able to save his spouse, Anusha, from a dangerous health condition. Dinesh is a plumber who earns Rs 15,000 a month. He decided to avail a family floater health insurance policy for his entire family of 3 members; as he was aware of the fact that family floater health insurance is the only way to protect the health of his dependents.
Family floater health insurance is a must for people working in the unorganized sector; where the income is not enough to pay for costly hospitalization.
There was no medical history of chronic illnesses before Dinesh’s spouse was diagnosed with this disease. Many people do not prefer buying family floater health insurance plans. Unfortunately, they struggle to arrange funds for medical emergencies. In Dinesh’s case, it was not too difficult. He had bought a family floater health insurance plan with a yearly premium of Rs 3,600 (Rs 300 a month) when he was just 25. This policy came to his rescue after 4 continuous renewals. The sum assured was Rs 4 Lakhs.
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Family floater health insurance offers assured coverage to 2 or more members of a family; if they are hospitalized. Experts recommend this plan to families with good medical history.
It covers the insured, spouse and children. But, some insurers allow policyholders to include their parents as well. Family floater health insurance is need-based. You can get an appropriate family floater health insurance policy; by consulting the free financial education company, IndianMoney.com for a holistic financial education.
See Also: Get Health Insurance for Family of 4
Family floater health insurance commonly covers In-patient hospitalization, ambulance expenses, daycare treatment and pre and post-hospitalization expenses.
The features, inclusions and exclusions of family health insurance differ among insurance companies. It also depends on the type of policy. Before buying a family floater health insurance plan, make sure to consider family health requirements and buy the one that best suits needs. The health insurance policy, which was purchased by Dinesh, gave him the much-needed relief.
See Also: Health Insurance Benefits
Family floater health insurance offers tax benefits under Section 80D of the Income Tax, Act, 1961. This is a great way to save tax. Family floater plans are flexible in nature. It means you can easily add new family members like a newborn.
Want to buy family floater health insurance? If yes, consider the following tips:
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