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Factors To Consider When Comparing Family Health Insurance Plans Online

Updated On Oct 20, 2021

Family health insurance plans provide financial aid to multiple members of a family. It offers wide and sufficient coverage that can be equally distributed among the members of a family and makes sure that the family members receive quality treatment at the time of an emergency. The family health insurance plans can cover you, your spouse, children, and dependent parents. This type of health insurance plans offer discounts and rewards to the policyholders in addition to a new member within the health insurance plan.

Family health insurance plan can protect your complete family within a single plan and offer them coverage at the time of need. However, people suffering from critical diseases or any other underlying disease must invest in a separate health insurance plan as they need a higher amount of sum assured for their treatment. Treatment of critical diseases under a family floater health insurance plan can lead to exhaustion of the cover and thus, leaving nothing for the other members of the family covered under the same plan.

You can look for various options of family floater health insurance plans online and compare them. You must invest in a plan that meets the requirements of your loved ones at a negotiable price. Health insurance plans with comprehensive coverage offer features like pre and post hospitalization expenses, room rents, ambulance charges, domiciliary expenses, medication costs, and much more. When looking for a suitable health insurance plan, it is wise and better to explore as many options as possible before investing in a particular family floater plan.

Must Read: Importance of Health Insurance for Family

Factors To Consider When Comparing Family Health Insurance Plans Online

Factors To Consider When Comparing Family Health Insurance Plans Online

Following are some of the common factors that must be taken into consideration while investing in a family floater health insurance plan online:

1. Coverage Scope

The most important part of buying a family floater plan is the coverage, as it must be sufficient enough to meet the requirements of all the members of your family without compromising their needs. The family floater plan must include certain basic features like organ donor expenses, OPD charges, room rents, ambulance charges, critical illness coverage, and much more.

2. Lifetime Renewability

Health insurance plans come with a policy tenure after which the plan stands invalid and none of its features can be availed. To avail the accumulated benefits of your existing health insurance plan, you must renew the plan without any delay. Therefore, your family floater plan must include lifetime renewability of services as it helps you to renew your plans without any maximum age restrictions.

3. Network Hospitals Linked To The Insurer

You can avail cashless claims at the network hospital of the insurer and therefore, you must invest in a plan whose insurer has a wide network of linked hospitals. It makes the claim settlement process quick and hassle free for the policyholders and does not require the people to pay a penny from their pockets.

4. Waiting Period

When investing in a family floater health insurance plan it is important that you mark its waiting period, as it is the time frame during which the policyholders cannot avail the benefits of their purchased family floater plan. You must invest in a plan that has a short waiting period, so that you can enjoy the coverage of the plan as early as possible.

5. Premium

The premium of a health insurance plan should be affordable and under financial budget. You can customize your plan and then accordingly set the premium rate for your health insurance plan. The premium rate must not hamper your budget.

6. Top-Up Plans

The family floater plan you are investing in, must offer a wide range of additional covers to enhance your existing health insurance plan. Based on the coverage and financial budget, you can get an additional cover for your existing family floater health insurance plan.


You must consider the above mentioned key points when investing in a family floater health insurance plan to make sure that it is suitable for you and your loved ones. The plan you invest in must offer you a wide range of benefits and it should be cost-effective.

Also Read: Tips To Choose Best Individual Health Insurance Policy In India

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

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