The wellbeing of you and your loved ones is always of utmost importance. We want to protect them from any unexpected illnesses or diseases and the financial burden they can bring along. Choosing to buy a health insurance plan for your family is the best possible way to safeguard you and your loved ones in the coming years.
It is imperative in today’s world to opt for a reliable health insurance plan like a family floater policy. This can help you live a hassle-free life without the stress of any illness related financial issues. A family floater Mediclaim policy insures your whole family under one plan and allows every member to avail the insurance sum in the time of need.
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To understand more about a family floater Mediclaim policy, it is important to know all the features and benefits that you can avail from the plan. Some of the features that will make you want to opt for a family floater Mediclaim policy are listed below.
Features Of a Family Floater Mediclaim Policy
- Coverage For the Whole Family
In a family floater mediclaim policy, the entire family and all its members can get insurance coverage under the same plan. There is no need for a separate plan for individual family members.
- Affordable Plan and Premiums
When you opt for a family floater mediclaim policy, the premiums are extremely affordable and convenient to pay. The cost is much lower in comparison to getting individual health insurance plans for each member and can be paid monthly or quarterly.
- Cashless Feature
You can enjoy cashless coverage at the network hospitals which have partnered with the insurance company. There are a number of network hospitals where you can get the treatment and the expenses will be handled by the insurer and the hospital directly after you complete some formalities like providing your plan details.
- Co-Payment Feature
After a certain age, family members of the plan can avail the co-payment clause. In this feature, a list of expenses is set aside initially which can be paid by the policy holder. In this way, a certain amount can be paid by the insurer and the policy holder both which reduces the premium amount.
- Coverage For Pre-Existing Illnesses
Some family floater mediclaim policies keep a waiting period for the treatment of pre-existing medical condition and illnesses.
- Tax Benefits
According to the Indian tax laws, you can avail a tax deduction of a large amount on the payment of the premium for a family floater mediclaim policy. This feature is regulated by the Income Tax Act of India.
- New Members Can Be Added
In a family floater mediclaim policy, there is no upper age limit of additional members and claiming the insurance sum. New members can be added to the same family plan and can avail the same sum as any other member.
A family floater mediclaim policy is flexible in nature. You can avail add on coverages as a part of your policy and customize it to the healthcare needs of you and your family.
- Extensive Coverage
When you opt for a family floater Mediclaim policy, every member of the family can enjoy an extensive coverage sum when required. This means that each and every member who is a policy holder in the family plan can avail the entire sum of the insurance rather than a specific amount assigned to them as and when it is required.
There are numerous reasons for you to opt for a family floater Mediclaim policy to protect you and your loved ones from any unexpected medical or financial situation in the future. Once you have made the decision, the next step is to find the right insurance provider. Reputable companies like Care Insurance offer a large variety of customizable family floater Mediclaim plans that can be altered to fit your needs in the best possible way.