The entire family is covered by the Family Floater Health Plan. Your family is protected under a single policy with this kind of health insurance. The plan’s beneficiaries split the insured amount evenly. Comparatively speaking, the premium is lower than that of an individual health insurance policy (considering each family member buys one).
Consider, for instance, that you had Family Floater Health Insurance. It provides a 20 lakh rupee sum covered for you, your spouse, and your two children. The insurance will pay the expenses in accordance with the terms and conditions if you are hospitalised for a covered surgery that costs Rs. 10 lakhs. For planned hospitalisations or future medical emergencies for you or the patient, the remaining Rs. 10 lakhs are available.
Features of a Family Floater Health Insurance Policy
One health insurance policy covers the entire family.
The beneficiaries split the insured amount.
It provides financial protection against hospitalisation, operations, medical care, daycare, etc.
Family’s Need for a Mediclaim Policy
You can manage the financial strain of having a medical problem with the aid of a Family-Floater Mediclaim Policy. especially now, when getting medical care has gotten so expensive. For the majority of disorders, hospitals offer complete packages, such as the COVID-19 package, cancer treatment packages, annual health packages, etc. The price of these is not controlled, and the medical facility is free to set the price in accordance with the level of care provided. This is why health insurance becomes crucial. According to the amount of insurance you choose to purchase, a decent health coverage will assist you in paying for treatment costs. A Family-Floater plan also covers your dependents, allowing you to receive quick medical attention without worrying about the cost.
Online Family Health Insurance Purchase Process:
Nowadays, purchasing any type of insurance online has gotten a lot simpler. Similar to how purchasing a health insurance coverage online is simple, the conventional offline process required extensive form-filling and postal correspondence. Online health insurance purchases are quick and simple. The measures you can take to purchase the best family health insurance online are as follows:
Step 1: Determine your needs The best financial assistance will be offered when you or a member of your family experiences a medical emergency if you get a health insurance coverage that meets your needs. A few factors that will help you decide what you are searching for in health insurance include the number of family members, your budget, the medical histories of the persons being covered, etc.
Step 2: Compare plans. Once you are aware of your needs, you will be aware that there are a number of comparable health insurance plans on the market. So comparing these plans to locate the one that provides more coverage at a lesser cost would be the next logical step.
Step 3: Learn more about the insurance provider: When purchasing a policy from an insurance provider for the first time, you should research their reputation to ensure that you are making the right choice. Social media makes it possible for you to read what previous customers have said about the insurance in terms of reviews and ratings. If you are satisfied with the insurance company’s feedback, you can decide to move forward.
Step 4: Examine the regulation: Search for your preferred health insurance plan on the website of the insurance provider of your choice. Now carefully review the terms and conditions as well as the specifics of the policy.
Step 5: Payment Making an online payment is the last step after making sure you are buying the proper plan from a reputable insurance provider. Any method is acceptable, including mobile wallets, net banking, etc. Your health insurance provider will deliver the insurance policy to your registered email address following the transaction.
Three advantages of purchasing a family health insurance plan:
An insurance policy aids in protecting your finances from events covered by the plan. The following advantages will come with family health insurance for you:
Medical insurance coverage
A medical emergency is a physically and financially taxing experience for the patient and their family. Hospitalization is a challenging time due to the patient's ongoing tests and the family members' visits. By purchasing health insurance, a patient can be confident that they are covered for all costs associated with a medical condition. Health insurance covers a variety of services, including hospitalisation, testing, ambulance fees, doctor visits, medications, and much more.
Financial Support in Times of Need
The patient will receive top-notch care quickly, you can be sure of that. The policyholder need not worry at all about the cost of treatment if the insured receives care at a network hospital. The policyholder must pay a small amount under deductibles because the insurance company pays the majority of the hospital bill.
Family Health Peace of Mind
Purchasing health insurance can provide you peace of mind regarding the costs associated with a medical issue. You can rely on the insurance provider to protect you when you need it most. Even if no claims are filed, all you need to do is keep the insurance plan in effect.
Who May Purchase a Family Medical Insurance Plan?
Anyone who wants a financial safety net for medical emergencies for oneself as well as the family can purchase a Family Health Insurance Plan. The entrance age for purchasing a plan has typically been set at 18 years old by insurance providers. However, dependents might range in age from 91 days to 65 to 75 years old depending on the insurance company’s rules.
Required Documents:
When purchasing a health insurance plan, the insurance company typically requests the following documents:
ID Proof
Address Proof
Medical Record
Photographs
Calculator for Family Health Insurance Premiums:
You may estimate how much money you will need to pay on an insurance policy by using the insurance premium calculator. On their websites, several insurance firms now offer premium estimators. This will enable the policyholder to take charge of the kind of coverage being bought. An equivalent tool is the Family Health Insurance Premium Calculator. It aids in your understanding of the policy’s premium or “quote.”
You must enter information such as the type of insurance needed, the number of family members, add-on coverage, the amount of the sum insured, and personal information such as the name, age, and medical history of the covered persons in order to calculate the premium. This information will be used by the calculator to generate a price. After that, you can study the terms and conditions and coverage before making a payment.
Family health insurance benefits:
The following are the fundamental things that the majority of insurance providers’ family health insurance policies cover:
Room Rent
These are frequently referred to as bed or room fees.
ICU fees
When a person has a serious illness, they must receive intensive care, sometimes known as the ICU. Charges for basic hospitalisation are lower than those for the ICU.
Doctor Visit
During hospitalisation, the patient may receive visits from a variety of doctors, including the general practitioner, a specialist, an anaesthetist, dietitian, paediatrician, lactation consultant, etc.
Charges for the operation theatre
These fees apply if the patient needs to have surgery.
AYUSH Treatment
Ayurveda, yoga, naturopathy, unani, siddha, and homoeopathy are examples of AYUSH therapies. These therapies are currently becoming more commonplace. Your insurance provider might also agree to pay for these expenses.
Costs associated with renting an ambulance
Once or twice each claim, the insurance provider will cover these expenses
By reviewing the policy wordings, you can determine what is covered by your Family-Floater health insurance coverage. Online access to this material will be provided. When in doubt, think about speaking with the customer service representative.
Family health insurance exclusions:
Each insurance company has a set of conditions that must be met in order for them to honour the claim. Exclusions of the policy are the name given to these restrictions. These are essentially the items that your health insurance coverage does not cover. Here is an overview:
1.Diseases that have existed for a given amount of time.
2.Claim made at the time of the search.
3.Expenses for infertility treatment or related costs.
4.The costs associated with treating any type of addiction.
5.Treatment for injuries sustained during criminal activities or while breaching the law.
6.Injuries caused by risk-taking sports.