We talk about the importance of having health insurance in place but we never talk about which type of insurance is better. In most cases, experts and related articles refer to individual health insurance plans while suggesting the right insurance scheme. However, they often forget to consider the family, the existence of which is likely possible.
Family floater, as the name suggests, is a health insurance scheme which covers members of the family against any type of medical illness. That said, the best part about the said insurance scheme is, the availed coverage limit can be used by any of the insured members or can be equally divided amongst each one of them. For instance, if a person A falls sick and goes through treatment which costs around 4 lakh, and the total coverage available under the insurance scheme is Rs 4 lakh - he/she can get the entire amount reimbursed.
Read More- Best family Floater health insurance Plans In India
Why family floater is important?
- For senior citizens, most of the medical expenses likely to occur is covered through critical illness insurance. However, medical inflation rates are subject to change with time and the presently availed coverage might not be sufficient. Hence, having an additional secondary insurance - family insurance would ensure enough funds to deal with any medical emergency.
- Same goes with corporate employees who are mostly covered through the corporate health insurance policy. The employee health insurance scheme covers the employee but not the family and hence, the family members remain vulnerable to health problems. Hence, taking a family health insurance plan becomes an indispensable need.
Bottom line: In the end, it is necessary to compare and choose the right family floater health insurance scheme.
