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All You Need To Know About Family Floater Health Insurance Plans

Author: Radha Lakshmi
by Radha Lakshmi
Posted: Nov 21, 2019
health insurance

A health insurance is the most preferred options to secure your family during medical emergencies. Some people buy a separate one for each family member, which does not make sense. You can simply buy one single policy for the entire family. Hence, buying a family-floater plan is the best option.

The family floater health plan is a type of insurance policy that will provide guaranteed coverage to all included members of a family at the same time. It is very convenient as single insurance covers the entire family. You only need to pay one single premium and both parents as well as children can be covered together. Therefore, you must know how to choose the best health insurance plans for the family.

Here are the top five things you must consider before buying family floater health insurance:

1. Consider all family members

A family floater health insurance will include all your loved ones. Before making a final selection, consider the number of dependants, their age, and so on. Later, pick the one that suits your and your family’s needs.

2. Consider the members’ health

After you have finalized on the number of dependants you want to cover in a health plan, consider their health status. It helps in calculating possible medical expenditures. In addition, it keeps aside the charges for ailments and diseases that the insurance company will declare as pre-existing.

3. Decide the Sum assured

You must choose the right sum insured, whether you purchase health insurance for yourself or your entire family. It is about the amount against which your medical bills are paid. Always keep your family’s present and future health conditions in mind while selecting a number. See to it that you can afford the premium amount to continue the policy in the long run.

4. Opt for network hospitals

When it is about your family, choose a hospital that is nearby caters to the needs of all members. You must also examine the health insurance company’s network hospitals. Opting for network hospitals guarantees cashless treatments. You can pick these hospitals and avail cashless treatments with ease.

5. Check for claim-settlement ratios

The number of claims passed by the general insurance company in a certain period of time is known as the Claim Settlement Ratio. Before you select an insurance plan, claim settlement ratio is also an important factor to consider. When expressed in percentage, the higher it is the higher are your chances of claim acceptance.

What all is covered under the family-floater insurance policy?

  1. Nursing expenses that are incurred during in-patient hospitalization
  2. Pre as well as post-hospitalization medical expenses
  3. Ambulance charges
  4. Room, boarding expenses as provided by the hospital
  5. Anaesthesia, oxygen, blood, and operation theatre charges, X-ray, dialysis, radiotherapy, chemotherapy, diagnostic materials, medicines and drugs, cost of a pacemaker, cost or organs, artificial limbs, donor's medical expenses towards organ transplant, etc.
  6. Reimbursement of expenses up to a maximum of 1500/-


Given below is a list of few exclusions under this policy:

  1. Treatment of Spondylitis, any type of carcinoma, sarcoma or blood cancer, Hip joint replacement, end-stage renal failure, osteoarthritis, heart diseases, benign prostatic hypertrophy, etc.
  2. Cost of spectacles, hearing aids, and contact lenses
  3. Hormone replacement therapy
  4. Any routine examination, vaccination or screening
  5. Sex change or treatment related to sex change
  6. Expenses on tonics and vitamins unless it forms a part of treatment for disease or injury


A family floater health insurance policy is vital. Protect your family by finding the best family-floater plan for them online. Investing in an online health insurance ensures the security of your family in a single click. Additionally, these online plans are affordable, convenient as well as transparent in nature.

About the Author

A mother of 2 lovely kids. Digital Marketer by profession and a blogger by passion! Here to inspire and motivate people with my writing.

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Author: Radha Lakshmi
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Radha Lakshmi

Member since: Mar 03, 2019
Published articles: 27

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