I am 30 years married with a daughter and living in Mysuru. I have availed a family floater health plan with sum assured of INR 4 Lakhs. I am the proposer (primary) person insured under this plan? I want to know if the proposer dies will this family floater health plan be terminated?
A family floater is a health insurance plan where all members of a family are covered under one policy. You (proposer) pay the premium of the plan. You can cover self + spouse + 2 children + parents, under this plan. If you and any member of your family are over 45, all members covered have to compulsorily undergo medical tests before the policy is issued. If the proposer dies the policy is not terminated. It is transferred to another family member who is over 18. There are no fresh medical checkups as family members were already covered under the plan. The family floater now covers lesser number of members and the premium could decrease when it comes up for renewal, provided no claims have been made.