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Who Should Buy A Family Floater Health Insurance Policy?

Published On Oct 01, 2021 11:00 AM By InsuranceDekho

Health insurance plans have gained immense popularity and importance over the last few years, as due to the spread of the global pandemic, the protection of every individual has become essential. Health insurance providers along with the insurance regulatory body, have rolled out different types of health insurance plans over the years, to meet the growing and changing requirements of the policyholders. Some of the commonly bought health insurance plans are individual health insurance, maternity benefit plans, senior citizen plans, family floater plans, personal accident covers, and a lot more. Each and every type of health insurance plan has its own importance and it offers a unique set of features to the policyholders at an affordable price. 

Family floater plans are one of the widely bought and must beneficial health insurance policies as it can cover different members of a family under a single plan, thus easing the process of buying and claiming a health insurance plan for a family. A family floater plan can include you along with your spouse, children, and dependent parents. Some health insurance providers offer discounts and rewards in addition to extra members in a family floater plan. The coverage of a family floater plan is wide and comprehensive, and it is distributed equally among the insured members of a family. However, people with pre-existing diseases or medical history must be insured under a separate plan as they require a high claim amount. 

About Family Floater Health Insurance Plan 

A family health insurance policy is one of the prominent types of health insurance plans under which multiple members of a family are covered under a single health insurance policy. The premium and claimed amount under this policy is equally distributed among the insured members of the family thus covering the entire family under an extensive and affordable health insurance plan. Let us look at some of the prominent benefits of a family floater plan that can be availed by the policyholders at the time of the claiming process:  

  • It ensures quality treatment of the patients at the hospitals without worrying about the money constraint. 
  • Family discounts and rewards are offered on this plan for the addition of a new member under the plan.
  • By paying extra premiums, you can also provide enough coverage to your parents and in-laws within the same family floater cover. 
  • Additional COVID-19 specific benefits are also made available to the insured members under this policy. 
  • Tax saving benefits are offered to the policyholders who are also taxpayers under Section 80D of the Income Tax Act. 

Must Read: Individual vs Family Health Insurance Plans

Who Should Buy A Family Floater Health Insurance Policy?

This health insurance policy is a great deal for policyholders with children and parents, as it can cover all the members under a single plan and provide them with enough coverage against the medical cost of treatment during an emergency hospitalization. It enables the people to include the senior citizens within their families like parents and in-laws under the same plan. This exclusive and comprehensive health insurance cover can also cover families with a medical history and offer them a reliable option to secure their health in the long run. 

Inclusions Under A Family Floater Health Insurance Plan 

Following are some of the basic inclusions that are made under a regular family floater health insurance plan: 

  • This plan covers the pre and post hospitalization expenses along with the in-patient costs, domiciliary expenses, etc. 
  • Day care expenses are also offered under a family floater plan to the policyholders. 
  • Organ donor expenses are looked after under this cover 
  • It also includes the cost of road ambulances in case of a medical emergency. 


A family floater health insurance plan is an extensive plan with cost-effective coverage. It must be bought according to the requirements of the different members in the family. You must carefully read the policy terms before investing in a health insurance plan to avoid inconvenience. 

Also Read: Do You Really Need A Family Health Insurance of Rs. 1 Crore?

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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