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Ride without worries,with our long term two wheeler insurance plan.
Safeguard the health of your loved ones with a wide range of health insurance plans.
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Comprehensive cover for your car,so you can drive yourself.
Safegaurd the healthof your loved ones with wide-ranging health insurance plans.
Secure your joyuos family trips with international travel insurance cover.
With the increasing demand for health insurance plans, many companies have come up with different types of health insurance policies. There are numerous types of health insurance plans such as family floater plan, individual health insurance or health insurance for senior citizens. The family floater health insurance and the individual policies are two of the major health insurance plans in India. There is a common confusion amongst people on whether to buy a separate insurance plan for all the family members or a single health insurance plan covering the entire family. To help you decide, this article discusses the benefits of the family floater health insurance and gives you insights on which plan would suit your requirements the best and thus decide which one to opt for between the family floater and individual policy.
A family floater health insurance is just like any other health insurance policy. The only difference is that the insurance covers all your family members. It usually consists of health cover for the family members such as spouse and children. However, in some cases, you can also add members of the extended family of parents or in-laws and others. For people living in joint families, family health insurance can be a better choice since it covers the needs of the entire family. The family floater health insurance has its terms and conditions similar to the individual health insurances. However, the only difference is that it covers the entire family and usually has a higher rate of premium.
There are many advantages of investing in a family floater health insurance. One of the most significant benefits is the higher cover value. If a family member gets hospitalized, he/she can use the total insured sum to get their treatment or can use some amount from the cover. The cover can be redeemed again in case any other family member needs medical attention. This means that with one premium, you are securing the lives of each member of the family. If you choose to buy individual health insurance plans for each member of your family, the premium will sum up to a considerably higher amount as compared to a family floater plan.
If you have a family and you are the one paying for all their expenses, a family floater health insurance is a must for you. However,it is important to note the downside of the family floater health insurance. Which is: if one member of the family uses the entire health insurance cover, there will be nothing left for the other members of the family. If two or more members of your families get ill at the same time, the coverage amount will either decrease, or you will have to pay for one member. However, with the individual health insurance plan, each member is protected separately. So, each of the family members can get the benefit of the health insurance policies no matter how many members of the family need hospitalization or undergo medical expenses.
That said, both these health insurances are a good option. The only determinant is your needs.
To conclude, it can be said that no matter what your choice is, it is important to note all the terms and conditions before making a decision. Consider all your needs and the advantages provided by the insurance company and only then, make an informed choice. If you think that all your family needs can be covered under one health insurance plan, family floater health insurance is the right choice for you. However, if this is not the case, buying individual health insurance policies are the best deal.
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Disclaimer : The information published on this website is for the public's reference only. Content of this information is to provide an overview of your Travel needs and should not be relied upon for personal, medical, legal or financial decisions and you should consult an appropriate professional for specific advice. Bharti AXA General Insurance Company Limited makes no representations about the suitability, reliability, timeliness, and accuracy of the information, travel, services, or any other items mentioned on this subject for any purpose whatsoever.
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