Check the Top Family Floater Plans in India

Medical emergencies are unpredictable. They can strike anytime and anywhere regardless of age and gender. But because of the fact that we love our families so much, we don’t want them to suffer ever due to bad health conditions.

So, straightly put, love and care are reasons good enough for why we want them to be covered under relevant health insurance. 

Where most of us opt for a family floater health insurance plan, there are certain advantages to getting one. A few of them are lower premiums and fewer hassles. A family floater health insurance plan, therefore, becomes a priority and can never be undervalued for a lot of reasons.

And therefore, an increasing number of people are leaning on health insurance plans to secure their finances. Let us discuss some of the best family floater plans in India. 

ICICI Lombard Complete Health Insurance-iHealth Plan  

Once selected, the Complete Health Insurance-iHealth Plan from ICICI Lombard gives you a health insurance plan that fits your entire family. It was awarded the ‘Product of the Year’ in a survey conducted by Nielsen in 2013. 

What does it cover?

• In-patient hospitalization expenses are covered. This covers room charges, doctor/ surgeon's fees, medical bills, etc.
• Pre and post-hospitalization expenses. 

Benefits of the plan

• The plan covers all your family members including you, your spouse, your dependent parents, your dependent children, your brothers, and sisters, under the same sum assured.
• There is no upper sub-limit on entry age.
• Value-added services like free health check-ups twice a year, online doctor chat, specialist e-consultation, vaccination care, speech and audiology, dietician and nutritionist consultation, and discount coupon book.
• Choose between two valuable add-ons-Daily cash+Convalescence benefits or Critical illness cover+Donor expenses. 
• Medical tests are not required for individuals below 46 years of age
• Cashless hospitalization.
• No capping on major medical illnesses
• Lifelong renewal facility.
• Increased sum assured on every year the claim is not made 

Negatives of the plan

• The policyholder has to complete a waiting period of 30 days, before which any coverage is not provided. For pre-existing diseases, there is a waiting period of 4 years. Whereas for certain diseases such as cataracts, hernia, renal stones, etc, it is for 2 years.  
• Common exclusions include alcohol/drug abuse, dental care expenses, vision care/hearing aid, AIDS, pregnancy-related expenses, infertility and in-vitro fertilization, non-allopathic treatment, suicide attempts/self-inflicted injury. 
• Domiciliary expenses are not covered. 
• The insured individuals aged above 46 years have to undergo medical tests to get insured. 

Max Bupa Heartbeat Plan

Max Bupa's Heartbeat plan comes in three variants, viz-silver, gold, and platinum. The plan covers up to 19 relationships with individual SI for each of them. It is supplemented with a floating sum assured that is accessible to any family member. The plan offers certain benefits to the policyholders like inbuilt maternity benefits, newborn benefits, no limitations on the minimum or maximum entry age, etc. 

What does it cover? 

• In-patient hospitalization expenses
• Pre-hospitalization and post-hospitalization coverage.
• All the daycare procedures
• Organ donor’s expenses 
• Domiciliary treatment
• Expenses related to emergency ambulance 

Major benefits of the plan

• Lifetime renewability
• Maternity benefit (up to 2 deliveries)
• Automatically covers a newborn
• Increased sum assured on every claim-free year
• Free health check-up 
• NCB extra loading
• Outpatient benefits (for the platinum plan)
• Childcare benefit

Negatives of the plan

• The policyholder will have to complete a waiting period of 90 days initially. They won't be given any coverage during the waiting period (except in case an accident or emergency takes place). For pre-existing diseases, the waiting period is 4 years. Whereas, for certain diseases, it is 2 years.  
• There are many exclusions in the plan.
• There is a clause of co-pay for 20% of the amount of the claim. 

Star Health's Family Optima Plan

Star Health Family Optima Plan gets your entire family covered at a reasonable premium under a single plan. 

What does it cover? 

• In-patient hospitalization expenses
• Pre and post-hospitalization expenses 
• Ambulance expenses

Benefits of the plan 

• Automatic restoration of the SI (basic) after the complete utilization of the plan
• Domiciliary Hospitalization Expenses for treatment more than 3 continuous days.
• Bonus on the basic sum assured for every claim-free year
• Newborn baby cover from the 16th day
• Medical tests are not required for people aged less than 50 years
• Cashless hospitalization at more than 5,400 network hospitals
• A grace period of 120 days. 

Negatives of the plan

• There is a waiting period of 4 years for pre-existing diseases. An initial waiting period is 30 days. During the waiting period, no coverage will be given. However, for specific diseases like hernia, renal stones, etc., the waiting period is 2 years. 
• Non-allopathic treatment is not covered under the plan.
• The 24-hour hospitalization limit is not applicable for 101 listed daycare procedures.

TATA AIG Wellsurance Family 

If you want a single policy that covers your child’s education and also your parent’s medical expenses, then this is the plan that offers you all. TATA AIG Wellsurance Family Plan protects your entire family under a single sum assured. 

What does it cover?

• Ambulance charges 
• Value-added service 
• Hospitalization expenses
• Post-hospitalization expenses
• 11 critical illnesses 

Benefits of the plan

• In-hospital benefits for sickness 
• Daily cash benefit
• In-hospital benefit for accident
• Critical illness benefits  
• ICU benefit 
• Convalescence benefit
• Cashless claim settlement in more than 3,000+ impaneled network hospitals 
• Discounts on health check-ups at network hospitals
• Double claim benefit

Negatives of the plan

• A waiting period of 4 years is to be completed for a pre-existing condition. For critical illness, it is 90 days, whereas the general waiting period is 90 days before which no coverage is given. 
• There are quite a few exclusions in the plan. 

Also Read

Best Health Insurance Plans Without Health Checkup!

Best Cashless Health Insurance Policies in India

Take Away

To get yourself and your family covered from financial contingencies, you can buy the best one depending on certain features such as premium, sum assured limit, entry-exit age cap, and insurers. To simplify these health insurance plans for you, consider the table below: