Family Floater Health Insurance

Fmaily Floater Health Insurance

Family Floater is a health insurance policy that covers multiple members of the same family under a single Premium. A family floater health insurance plan is beneficial because the premium is comparatively lower that the individual health insurance policy.

Most of the health insurance companies limit the family member to the primary insured his spouse and children. However, there are some insurers who even allow coverage for parents, siblings and other relatives under the same policy.

Advantages of Family plans

• It safeguards the health of the family members.
• All family members can be covered in one policy.
• Does not have to deal with maintaining different policies for each individual member.
• Entire family can be covered by paying one premium only.
• You can change or add new members in the plan.
• Some insurance providers give the option of covering siblings and in-laws.
• Income tax benefit under section 80D of the IT act can be availed.