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Home Articles How Suraj Gifted His Loved Ones a Health Insurance Plan?

How Suraj Gifted His Loved Ones a Health Insurance Plan?

IndianMoney.com Research Team | Updated On Wednesday, August 21,2019, 06:25 PM

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How Suraj Gifted His Loved Ones a Health Insurance Plan?

 

 

A family floater health insurance policy covers insured and family members under a single plan. A family floater plan generally covers self, spouse and 2 children. The family elders like in-laws or dependent parents can be added by paying an extra premium. It covers the members against various diseases and ailments and helps meet hospitalization expenses during a medical emergency.

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How Suraj Gifted His Loved Ones a Health Insurance Plan?

Features of Family Floater Health Insurance:

  • Covers Family Members: You can cover family members against a number of ailments under a single health insurance policy. You need not purchase individual plans to cover each family member.
  • Increase in the Sum Insured: A family floater health insurance plan offers a No Claim Bonus for each claim free year. A percentage of the sum assured is added to the current year’s sum assured or you get discount on premiums.
  • Cashless Claim Settlement: With cashless claim settlement; you don’t have to pay a single rupee from your pocket. The insurer directly settles your medical bills with the hospital.

See Also: Types of Health Insurance Plans in India

Is a Family Health Plan Better Than Individual Health Insurance?

The family floater health insurance plan provides insurance cover to more than one member of the family. Under the family floater plan, the sum assured can be availed by either one or all the family members.

There are cases where individual health insurance plans are better than family floater health insurance plans. Family floater plans consider age of the eldest member. This means a higher premium vis-à-vis individual health insurance plans.

See Also: 4 Insurance Plans You Must Have

How Suraj Gifted His Loved One’s a Health Insurance Plan?

Suraj a 36 year old; owned a grocery store in a town. He wanted to insure his family members against diseases and availed a family floater health insurance plan to secure his wife and his only son (4-year-old).

One fine day his son fell ill. On diagnosis, they found their child suffering from jaundice. He was hospitalized in a reputed hospital. Though the medical expenses were high; Suraj was not perturbed. The family floater health insurance plan took care of the medical expenses.

The family floater health insurance plan helped the family focus on the child’s recovery; as it offered the cashless facility. Suraj didn’t have to pay a single rupee from his pocket as the insurer settled the medical bills with the hospital.

Suraj was also relieved as the family floater health insurance policy; also covered post-hospitalization care. The family floater health insurance plan helped Suraj and his family avail medical care at a reputed hospital during the medical emergency and saved his finances from getting derailed.

See Also: Advantages Of Buying A Health Insurance Plan

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IndianMoney.com Research Team

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