Floater Health Insurance Policy :
Family Floater is one single policy that takes care of the hospitalization expenses of the entire family. The policy has one single sum insured, which can be utilized by any/all insured persons in any proportion or amount subject to maximum of overall limit of the policy sum insured. Quite often Family floater plans are better than buying separate individual policies. A family Floater plan takes care of all the medical expenses during sudden illness, surgeries and accidents. This insurance is available to persons between the ages of 18 years to 60 years.
FLOATER BENEFIT means the Sum Insured as specified for the proposer under the policy, is available for any or all the members of his /her family for one or more claims during the tenure of the policy.
The Family Floater Medi claim Policy can be issued to the persons up to 60 years of age covering the following family members:
- Self
- Spouse
- Dependent children - Maximum two
Parents/Parents-in law/ brothers and sisters are not covered under Family Floater Policy even if they are residing with the proposer.
The other features of Floater Health Insurance Policy are:
- Sum Insured: Minimum Sum Insured is Rs. 2 lakhs and Maximum Sum Insured is Rs 5 lakhs.
- Premium: Premium is as per Individual Medi claim Policy (2007). The basic premium will be as per highest age of the family member.
For example, a family consists of self, spouse and two children purchases health insurance of Rs 1.00 lakh.
Under the floater policy, any family member can avail the medical claim of Rs 1.00 lakh. The premium will be applicable to the highest aged member of the family.
