A happy family eats together, prays together, and stays insured together. A family health insurance policy is specifically designed to protect your entire family under one umbrella.
You can include your spouse, children, parents, or even parents-in-law in family floaters. The best part of this kind of policy is you have to pay a single premium for all the insured members, and the sum insured is shared across all members. You can include a maximum of six members of your family.
However, when you actually dive into the options available online, you end up with lots of confusion. These days, several health insurance companies offer different family floater plans. So what kind of family health policy is perfect for you? Let’s check out:
Types of Family Floater Plans
Leading players like Care Health Insurance, Star Health, MaxBupa, ICICI Lombard offers three types of health insurance plans for the family:
- Individual family health insurance
- Family floater health insurance
- Senior Citizen Health Insurance
Individual Family Health Policy: Under this plan, you can cover your each family member, respectively. However, the premium is high in this policy, and the sum insured is separate for each family member.
Family Floater Health Insurance: You can cover a maximum of six members of your family under this plan. The amount of premium is low compare to individual family health insurance, and all insured members are covered under a single plan, which reduces the complication of the process. As healthcare inflation is rising this plan helps you get the best possible treatment for your loved ones without financial stress.
Senior Citizen Health Insurance: You can buy senior citizen health insurance to avail of the best healthcare facility for your parents. It is the policy for older people covering their health care expenses. However, the premium of this policy is a bit on the higher side depending on the age, pre-existing diseases, and past medical history of your parents. Yet, it is beneficial and cost-effective for them.
Top Companies In India Offering Best Family Health Insurance
Below is the nifty list of top companies in India, offering the best family health policy. You can get into more details about these plans and choose the best one that suits your family’s health care needs.
| Health Insurance Company | Family Floater Plan | Sum Insured |
| TATA AIG General Insurance | Mediprime | 2-10 Lac |
| Care Health Insurance | Care Family Health Insurance | 4 Lac- 1 Cr |
| HDFC Ergo | Health Suraksha Plus Regain-Gold & Silver | 3-10 Lac |
| The Oriental Insurance Company | Happy Family Floater Policy | 1-20 Lac |
| Star Health & Allied Insurance | Family Health Optima | 1-25 Lac |
Source: Companies’ official websites
Benefits of Family Floater Plan
Below are the benefits that you can avail under a family health insurance policy:
- Coverage for all family members under a single plan
- Single and lower premium reduces your financial burden
- Immediate cashless hospitalization for family members during a medical emergency
- Claim for tax benefit under section 80D of the Income Tax Act that reduces your taxable liabilities
Takeaway
Your family is your supporting pillar, and their security and protection are your utmost responsibility. So, opt for any family health insurance policy and give them a worry-free and healthy life.
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