Family Floater Health Insurance Policy – Definition, Coverage, Exclusions, Types, Companies, Benefits, Claim Process, Quotes

Contents

• What is a Family Floater Health Insurance Policy?
• What are the coverages under a Family Floater Health Insurance Policy?
• What are the Exclusions under a Family Floater Health Insurance Policy?
• What are the Features and Benefits of a Family Floater Health Insurance Policy?
• What is the difference between an Individual and a Family Floater Health Insurance Policy?
• What factors should you look for when choosing a Family Floater Health Insurance Policy?
• What factors impact the Premium of a Family Floater Health Insurance Policy?
• Why do you need a Family Floater Health Insurance Policy?
• Best Family Floater Health Insurance Plans in India - HDFC Ergo My Optima Secure Health Insurance - ICICI Lombard Elevate Plan - Bajaj Allianz Health Guard Platinum Plan - Royal Sundaram Lifeline Elite Plan - Manipal Cigna ProHealth Prime Advantage Plan
• How to make a claim under a Family Floater Health Insurance Policy?
• How to Buy a Family Floater Health Insurance Policy with Qian?
• How to Renew a Family Floater Health Insurance Policy with Qian?
• Frequent Asked Questions About Family Floater Health Insurance Policy

What is a Family Floater Health Insurance Policy? - Definition

A Family Floater Health Insurance Policy is a Health Insurance Plan which provides Health Insurance Coverage to all the family members under a single Plan. The Policy provides coverage for Hospitalisation Expenses, Pre and Post-Hospitalisation Expenses, Daycare Procedures etc. A Family Floater Health Insurance Policy usually covers the Proposer (individual), Spouse and Dependent Children and Dependent Parents.

What are the coverages under a Family Floater Health Insurance Policy?

A Family Floater Health Insurance Policy provides the following coverages:

1. Hospitalization Expenses: A Family Floater Health Insurance Policy covers hospitalisation expenses incurred due to Illness or Injury, including Room Rent, Boarding Expenses, Nursing, Intensive Care Unit Charges, Surgeon/Anesthetist Fees etc.
2. Pre- and Post-Hospitalization Expenses: The Policy also covers Pre and Post-Hospitalisation Expenses usually for a Period of 30-60 days respectively.
3. Daycare Procedures: Daycare Procedures are medical treatments or surgeries that do not require a 24-hour hospital stay due to technological advancement. Family Floater Insurance Policies cover Daycare Procedures such as Cataract Surgery, Chemotherapy, Dialysis, and Minor Surgical Interventions.
4. Maternity Benefits: Some Health Insurance Policies also provide coverage for Expenses related to Pregnancy and Childbirth for both, Normal and Cesarean Deliveries. Maternity Benefits Coverage under a Family Floater Health Insurance Policies have a waiting period, of 2 to 4 years and also a Sub-Limit which is usually around Rs50,000 to Rs1 lakh.
5. AYUSH Treatment: Most Family Floater Health Insurance Policies also provide coverage for such alternative medicine treatments such as Ayurveda, Unani, Siddha and Homeopathy treatments provided they are availed in a government registered hospital.
6. Domiciliary Treatment: Domiciliary Hospitalisation cover provides coverage for treatments that require hospitalization but are carried out at home due to the patient’s condition or lack of hospital beds. The Cover includes expenses for Medical Treatments, Nursing Care, and medication administered at home and is useful for patients with mobility issues. Many Family Floater Health Insurance Policies provide coverage Domiciliary Treatment as well.

What are the Exclusions under a Family Floater Health Insurance Policy?

Family Floater Health Insurance Policies have the following exclusions:

1. Pre-Existing Diseases: Family Floater Health Insurance Policy does not cover Pre-Existing Diseases until the end of Waiting Period of 1 to 4 years. Pre-Existing Diseases are covered only after the end of Waiting Period.
2. Specified Diseases: Family Floater Health Insurance Policies do not cover expenses related to treatment of Specified Diseases/listed conditions until the end of Waiting Period of 1 to 2 years. Sepecified Diseases are covered only after the end of Waiting Period.
3. Investigation & Evaluation: Expenses related primarily for diagnostics and evaluation purposes are not covered.
4. Rest Cure, Rehabilitation and Respite Care: Expenses related primarily for recovery or enforced bed rest and not for receiving treatment are not covered by the Policy.
5. Obesity/Weight Control Treatment: Expenses related to treatment of Obesity are not covered by a Family Floater Policy
6. Cosmetic surgery: Expenses for Procedures such as Plastic Surgery, Botox, and other Cosmetic Treatments are generally not covered unless they are necessary due to an accident or reconstructive surgery.
7. Change-of-Gender Treatments: Expenses for Change of Gender Treatments are not covered under a Family Floater Health Insurance Policy.
8. War-Related Injuries: Injuries or illnesses resulting from war, acts of terrorism, civil war, or nuclear risks are excluded from Coverage under a Family Floater Mediclaim Policy.
9. Sexually Transmitted Diseases (STDs) and HIV/AIDS: Many policies exclude coverage for treatment related to STDs and HIV/AIDS.
10. Sterility and Infertility: Expenses incurred for Sterility or Treatment of Infertility are not covered under a Family Floater Policy
11. Substance Abuse: Medical expenses arising from the use of alcohol, drugs, or other intoxicants are not covered under a Health Insurance Policy.
12. Maternity and Newborn Care: Maternity expenses are usually excluded unless the Policy explicitly includes coverage for maternity benefits.

What are the Features and Benefits of a Family Floater Health Insurance Policy?

The key benefits of a Family Floater Health Insurance Policy are as follows:

1. Hospitalisation Expenses: Family Floater Health Insurance Policies offer coverage for Hospitalization Expenses, including Room Rent, ICU charges, Nursing Fees, and other associated costs under In-Patient Hospitalisation Coverage.
2. Pre and Post-Hospitalisation Expenses Coverage: Health Insurance Policies provide coverage for Pre- and Post-Hospitalisation Expenses, usually for a period of 30-60 days respectively. These Expenses constitute a significant sum and coverage for the same reduces the financial strain on the Insured.
3. Coverage for Daycare Procedures: Family Floater Health Insurance Plans provide coverage for Daycare Procedures, such as cataract surgery, chemotherapy, and dialysis, which typically do not require a 24-hour hospital stay due to technological advancement. These treatments are quite expensive and Coverage for the same ensures you receive timely care without the financial burden of a full hospital stay.
4. Organ Donor Expenses: Family Floater Policies provide coverage for Organ Donor’s Hospitalisation Expenses for harvesting of the donated organ where the Insured is the recipient. This is an important coverage under a Health Insurance Policy.
5. Affordable Premiums: The Sum Insured for a Family Floater Health Insurance Policy is shared between all members of the family and is not exclusively applicable for an Individual unlike an Individual Health Insurance Policy. The Premiums of a Family Floater Health Insurance Policy are thus much more reasonable as compared to the combined premium if all the family members avail a separate Individual Health Insurance Policy for themselves.
6. No Claim Bonus: Family Floater Health Insurance Policies offer a No-Claim Bonus where the Policy Sum Insured is automatically increased without an increase in Premium if there is no Claim made under the Policy. No Claim Bonus is an extremely useful feature as the Policyholder automatically benefits from an Increased Sum Insured.
7. Cashless Claim Settlement: Health Insurance Companies have a network of hospitals where the Insured can avail cashless claim settlement, meaning the Insured does not have to pay any of the hospitalisation expenses out of his own pocket. The Insurance Company settles the bill directly with the hospital. This is a big benefit as it reduces the financial burden on the Insured.
8. Tax Benefits: The Premiums paid for Family Floater Health Insurance Policies are eligible for Section 80D Deductions under the Income Tax Act, 1961. Policyholders can claim deductions on premiums paid for themselves, their spouses, children, and parents.
9. Lifetime Renewal: Family Floater Health Insurance Policies allow Lifetime Renewals as long as the Policyholder pays the premiums on time. Lifetime Renewability allows Policyholders to renew their plans without any age restrictions.

What is the difference between an Individual and a Family Floater Health Insurance Policy?

The only difference between an Individual and a Family Floater Health Insurance Policy is that the Sum Insured under an Individual Health Insurance Policy is dedicated exclusively for the Insured Individual while under a Family Floater Health Insurance the Sum Insured is common and shared between all the Insured Family Members. An Individual Health Insurance Plan is usually more suitable for people who have no dependents or older age people as they are at a greater risk of developing health complications while a Family Floater Mediclaim Policy is suitable for younger families which can share the Sum Insured between the family members at a reasonable premium. Additionally, the Premium for a Family Floater Health Insurance Policy is lesser than the sum of premiums of separate Individual Health Insurance Policies for all family members since the family members share the Sum Insured under a Family Floater Policy.

What factors should you look for when choosing a Family Floater Health Insurance Policy?

A Policy holder should look at the following factors before choosing a Family Floater Health Insurance Policy:

1. Coverage: The Policyholder should check the coverage under the Family Floater Health Insurance Plan before finalizing the Policy. It is prudent to choose a Plan offering comprehensive coverage for In-Patient Hospitalisation Expenses, Pre and Post-Hospitalisation Expenses and Daycare Procedures.
2. Room Rent Capping: Room Rent Limit in Health Insurance is a limit on the rent of the hospital room that will be borne by the Insurance Company. Health Insurance Policies specify limits on Room Rent. If you exceed the Room Rent Limit, then the entire Claim will be subject to Deductions. If affordable, it is better to choose a Plan with no Room Rent Capping as this will avoid deductions in claim amount later on.
3. Co-Payment: Co-Payment is a cost sharing requirement under a Health Insurance Policy which states that that the Insured will bear a fixed percentage of the admissible claims amount. For example, if a Policy has a 10% Co-Payment Clause, it means that the Insured pays 10% of the bill, and the Insurance Company pays 90%. Co-Payment Clause helps the Insurance Companies manage risk and keep Premiums lower. Policyholders must read the Policy Wordings thoroughly for the Co-Payment Percentage under the Policy and consider their ability to pay the Co-Payment amount during a medical emergency. Policies with lower or no Co-Payment are preferable.
4. Pre and Post-Hospitalisation Expenses Coverage: Pre and Post-Hospitalisation Expenses coverage provides coverage for medical expenses incurred prior to admission and post discharge from hispital. Such Expenses constitute a significant percentage of Medical Expenses and Policyholders should choose a Policy offering Pre and Post-Hospitalisation Coverage of at least 60-90 days respectively.
5. Waiting Period for Pre-Existing Diseases: Pre-Existing Disease means any medical condition which is already existing 48 months prior to the effective date of the Health Insurance Policy issued by insurer. Family Floater Health Insurance Policies do not cover any claims related to Pre-Existing Diseases before a Waiting Period of 24 months to 48 months The Insured should compare the Waiting Period for Pre-Existing Diseases amongst multiple Health Insurance Plans before finalising the Policy.
6. No-Claim Bonus (NCB): No-Claim Bonus provides an automatic increase in the Policy Sum Insured without an associated increase in Premium for every Claim Free year under the Policy. Policyholders should choose a Health Insurance Policy which offers a high No Claim Bonus as it translates into increased Sum Insured in the future.
7. Restoration Benefit: Restoration Benefit in Health Insurance Policy restores the Policy Sum Insured after it is exhausted due to a Claim raised under the Policy. Restoration Benefit is extremely important in case of Family Floater Health Insurance Policies where multiple family members are sharing a Common Sum Insured and the Sum Insured is more likely to get exhausted in such a case. Restoration Benefit comes to the aid in such a situation and reinstates coverage after the Sum Insured is exhausted. Policyholders should choose a Family Floater Policy which has a Restoration benefit which can be utilised even after Partial Utilisation of Sum Insured and also one which can be used for same/related illnesses
8. Cashless Hospital Network: A strong network of Cashless Hospitals allows Policyholders to receive treatment at the hospitals without paying money out of their own pocket. The Insurance Company settles the bill directly with the Hospital. The Insured should choose an Insurance Company with a large network of hospitals, especially those near his residence. This ensures that you have access to quality healthcare facilities in emergencies without financial strain.
9. Premium: Insurance Premium is the amount that the Policyholder pays to maintain coverage under a Health Insurance Policy. Lower premiums might be attractive but could come with Sub-Limits or other restrictions. The Policyholder should purchase a Policy which balances the premium with the Coverage received.
10. Claim Settlement Ratio: Claim Settlement Ratio indicates the percentage of Claims settled by the Insurer against the total Claims received. A higher ratio reflects the Insurer’s reliability in processing and paying out claims. The Policyholder should choose a Health Insurance Company with a high Claim Settlement Ratio to ensure your Claims are likely to be settled promptly.
11. Lifetime Renewal: Lifetime Renewal of a Health Insurance Policy ensures that the Policyholder can renew his Health Insurance Policy without any upper age limit if premium is paid on time. Lifetime Renewal of the Policy is crucial as medical needs increase with age in order to ensure that the Insurance Company does not refuse coverage at old age when you require Insurance Coverage the most.

What factors impact the Premium of a Family Floater Health Insurance Policy?

Family Floater Health Insurance Policy Premiums depend on the following factors:

1. Sum Insured: The higher the Sum Insured, higher is the premium for a Health Insurance Policy.
2. Number of Family Members Covered: The Premium of a Family Floater Health Insurance Policy depends on the number of family members covered under the Policy. Policies with higher members will have higher premiums.
3. Type of Coverage: Health Insurance Plans with wider coverage will have higher premiums than plans with narrower coverage.
4. Medical history: People with Pre-Existing Conditions, such as asthma, diabetes, or heart conditions, while have higher premiums for their Health Insurance Policies than people with no Pre-Existing Conditions.

Why do you need a Family Floater Health Insurance Policy?

Medical expenses are increasing at higher rate than inflation today and Lifestyle diseases are on the rise. India is the diabetes capital of the world while WHO has estimated that 1 in 10 Indians will suffer from cancer in their lifetime. The treatments of such diseases and ailments is very expensive and it is of utmost importance to have adequate Health Insurance Coverage to take care of such expenses that might arise in the future. A Family Floater Health Insurance Policy ensures that you can afford the best treatment for your family members should such a need arise.
A Family Floater Health Insurance Policy will provide reimbursement for the Hospitalisation Expenses, Pre and Post-Hospitalisation Expenses of all the insured family members in case they are hospitalised for any ailments or injuries. It will ensure that the family members receive the best medical treatment and you don’t need to compromise on the same because of high medical costs.

Best Family Floater Health Insurance Plans in India

HDFC Ergo My Optima Secure Health Insurance

HDFC Ergo’s Optima Secure is a comprehensive Health Insurance Plan providing extensive coverage for individuals and families. The Policy offers coverage for Hospitalization Expenses, Pre- and Post-Hospitalization expenses, Day Care Treatments etc.

Key Features of HDFC Ergo My:Optima Secure Health Insurance Policy

1. Various Sum Insured Options available up to from Rs5 lakhs to Rs2 Crores
2. Pre and Post-Hospitalisation Expenses Coverage for 60 days and 180 Days
3. Secure Benefit under the HDFC Ergo My:Optima Secure Plan provides 2X Coverage from Day 1. This means that you Policy Sum Insured doubles from Day 1
4. Plus Benefit under the Policy provides 50% increase in coverage every year for 2 years upto a maximum of 100% irrespective of whether there is a claim under the Policy or not. This means that the Plan offers 100% increase in coverage at the end of the 2nd year
5. Restoration Benefit provided for Related and Unrelated Illnesses provided during the Policy Year, for both, Partial and Total Claims.
6. Protect Benefit under the Policy provides coverage for Consumable Expenses as well which are normally excluded under other Health Insurance Policies
7. Policy provides coverage for Domiciliary Hospitalisation, Emergency Air Ambulance and Organ Donor Expenses
8. Global Health Cover Option under the Optima Secure Global Plus Plan pays for emergency and planned overseas hospitalisation expenses as well.
9. The Plan also provides various Add-On Covers such as a Critical Illness Cover, Personal Accident Cover etc.
10. Waiting Period of 36 months for Pre-Existing Diseases
11. Waiting Period of 24 months for Specific Diseases
12. Lifelong Renewal

ICICI Lombard Elevate Plan

ICICI Lombard Elevate Plan provides comprehensive Health Insurance coverage for Hospitalization Expenses, Day Care Treatments, Pre and Post Hospitalization Expenses and AYUSH treatments. It offers coverage from Rs. 1 Lakh to 10 Crores. The Policy offers various Sum Insured Options ranging from Rs5 lakhs upto Unlimited Sum Insured.

Key Features of ICICI Lombard Elevate Health Insurance Plan

1. Policy provides coverage for Hospitalisation Expenses, Daycare Procedures and Pre and Post-Hospitalisation Expenses
2. Pre and Post-Hospitalisation Expenses Coverage for 90 days and 180 Days
3. Policy provides a Loyalty Bonus of 20% of the Policy Sum Insured upto a maximum of 100% of the Annual Sum Insured at the end of each Policy Year irrespective of a claim being initiated in the Policy Year.
4. Policy provides coverage for Domiciliary Hospitalisation and Organ Donor Expenses
5. Restoration Benefit provided for Related and Unrelated Illnesses during the Policy Year. For Related Illnesses, hospitalisation should be after 45 days from the date of discharge of the earlier claim.
6. The Policy provides an Infinite Care Add-On cover where the medical expenses of Policyholder are covered without any limit on Sum Insured for any one claim during the lifetime of the Policy
7. ICICI Lombard Elevate Plan provides various Add-On Covers such as Power Booster (Super Loyalty Bonus), Jumpstart Benefit, Worldwide Cover, Inflation Protector Cover, Critical Illness Cover, Personal Accident Cover etc. which enhance Policy Coverage.
8. ICICI Lombard Elevate Plan provides Maternity Coverage Add-On Cover where the medical expenses for the delivery of a baby and/or expenses related to lawful termination of pregnancy in life threatening situation are covered up to 10% of the Policy Sum Insured upto a maximum limit of Rs1 Lakh. This cover is applicable only for Family Floater Policies and has a Waiting Period of 24 months.
9. Waiting Period of 30 Days for Surrogacy Cover
10. Waiting Period of 24 months for Bariatric Surgery Cover
11. Waiting Period of 24 months for Worldwide Cover
12. Waiting Period of 24 months for Maternity Benefit Cover
13. Waiting Period of 36 months for Pre-Existing Diseases
14. Waiting Period of 24 months for Specific Diseases
15. Lifelong Renewal

Bajaj Allianz Health Guard Platinum Plan

Bajaj Allianz Health Guard Insurance Policy – Platinum Plan is a comprehensive Health Insurance Plan providing coverage for Hospitalisation Expenses incurred due to illness or injuries. that offers a wide range of benefits to its policyholders. The Platinum Plan offers various Sum Insured Options ranging from Rs5 Lakhs to Rs1 Crore. The Entry Age for the proposer and other adult family members is 18 to 65 years, while Dependent Children and Grandchildren can be covered from the age of 3 months to 30 years.

Key Features of the Bajaj Allianz Health Guard Insurance Policy – Platinum Plan

1. The Bajaj Allianz Health Guard Policy covers Hospitalization Expenses, Pre and Post-Hospitalization Expenses, Daycare Treatments, Road Ambulance, Organ Donor Expenses, Daily Cash Benefit etc.
2. No Room Rent Limit for Platinum Plan
3. Policy offers Restoration Benefit for Related and Unrelated Illnesses once during the Policy Year on complete exhaustion of Sum Insured
4. Provides maternity coverage under the Gold and Platinum Plan after a Waiting Period of 72 months depending on the Sum Insured chosen
5. No Claim Bonus of 10% Base Sum Insured up to a maximum of 100% of the Base Sum Insured for Silver and Gold Plans. Platinum Plan offers a No Claim Bonus of 50% Base Sum Insured for the first 2 years and 10% Base Sum Insured for the next 5 years up to a maximum of 150% of the Base Sum Insured. If a Claim is made under the Health Insurance Policy during any Policy Year, the accrued Bonus is reduced at the same rate at which it has accrued
6. The Policy provides a coverage for Bariatric Surgery upto 50% of the Sum Insured subject to a maximum amount of Rs5 lakhs under the Platinum Plan
7. Bajaj Health Guard Mediclaim Policy provides Maternity Coverage where the medical expenses for the delivery of a baby and/or expenses related to lawful termination of pregnancy are covered upto a limit of Rs25,000 for Normal Delivery and Rs35.000 for Caesarean Delivery.
8. Waiting Period of 24 months for Specific Diseases
9. Waiting Period of 36 months for Pre-Existing Diseases
10. Waiting Period of 36 months for Bariatric Surgery
11. Waiting Period of 72 months for Maternity Coverage
12. Lifelong renewability of the policy is allowed with no age restriction.

Royal Sundaram Lifeline Elite Plan

Royal Sundaram Lifeline Elite Health Insurance Plan provides comprehensive coverage for Hospitalisation Expenses, Pre and Post-Hospitalisation Expenses, Daycare Procedures etc. The Policy offers various Sum Insured options ranging from Rs25 lakhs to Rs1.5 Crores

Key Benefits of Royal Sundaram Lifeline Health Insurance Policy – Elite Plan

1. Policy offers coverage without any Room Rent Limit
2. Pre and Post-Hospitalisation Expenses coverage for 60 days - 180 days respectively
3. No-Claim Bonus of 20% Base Sum Insured up to a maximum of 100% of the Base Sum Insured under the current Policy Year.
4. Restoration Benefit provided for Unrelated Illnesses during the Policy Year if the Sum Insured is partially or completely exhausted.
5. Royal Sundaram Lifeline Health Insurance Plan offers a Maternity Sub-Limit of Rs2 lakhs/Rs2.5 lakh after a Waiting Period of 3 years. Both parents should be covered under the same plan to avail the benefit under the Policy. The Policy also offers a New-Born Baby Cover of upto 25% of the Policy Sum Insured and covers the vaccination expenses of the baby for the first year upto Rs10,000.
6. Royal Sundaram Lifeline Elite Plan offers OPD Coverage with a Sub-Limit of Rs10,000. The Policy also covers Charges for Dental Treatment, Cost of Spectacles, Contact Lenses and Hearing Aids once in 2 years with a sublimit of 30% of OPD Treatment sublimit
7. Royal Sundaram Lifeline Elite Plan offers International Coverage for Worldwide Emergency Hospitalisation (Excluding USA and Canada) upto 50% of Sum Insured subject to a maximum of Rs20 lakhs provided that the Medical Practitioner has certified the treatment as an Emergency which cannot be postponed until the Insured has returned to India.
8. The Plan also provides coverage for International Treatment of 11 specified Critical Illness (excluding US and Canada) with a Co-Payment of 20% provided that the Critical Illness is diagnosed by a Medical Practitioner within India during the Policy Period and after completion of the 90 days initial waiting period.
9. Policy provides a Domiciliary Hospitalisation Cover upto the Sum Insured
10. Waiting Period of 24 months for Specific Diseases
11. Waiting Period of 24 months for Pre-Existing Diseases
12. Waiting Period of 36 months for Maternity Coverage
13. The Premiums are applicable for Section 80D Deduction under the Income Tax Act, 1961
14. Lifetime Renewal

Manipal Cigna ProHealth Prime Advantage Plan

Manipal Cigna ProHealth Prime Advantage Plan offers health insurance coverage for families for Hospitalisation Expenses, Pre and Post-Hospitalisation Expenses, and Daycare Procedures with Sum Insured options ranging from 5 Lakhs to 1 Crore.

Key Features of Manipal Cigna ProHealth Prime Advantage Plan

1. Manipal Cigna ProHealth Prime Advantage Plan offers various Sum Insured Options from Rs5 Lakhs to Rs1 Crore
2. Pre and Post-Hospitalisation Expenses coverage for 60 days - 180 days respectively
3. The Policy provides Unlimited Restoration Benefit for Related and Unrelated Illnesses provided during the Policy Year.
4. Cumulative Bonus of 25% Base Sum Insured up to a maximum of 200% of the Base Sum Insured under the current Policy Year.
5. The Policy provides a Bariatric Surgery Cover upto the Sum Insured subject to a Maximum Limit of Rs5 lakhs
6. Manipal Cigna ProHealth Prime Advantage Plan offers OPD Coverage with an option to choose a limit of Rs20,000, Rs30,000 and Rs50,000 as Outpatient Sum Insured. The Policy has a Sub-Limit of 20% of Outpatient Sum Insured for Pharmacy Expenses. OPD Coverage is available only on cashless basis from the Network providers of Manipal Cigna Health Insurance Company.
7. Manipal Cigna ProHealth Prime Advantage Plan offers Global Coverage for Emergency Hospitalisation Expenses or Emergency Outpatient Treatment upto the Policy Sum Insured. Global Coverage is only available for Emergency Hospitalisation Expenses or Emergency Outpatient Treatment and is not available for planned hospitalisation. There is no Waiting Period for Global Coverage and the Claim is settled on Reimbursement Basis only.
8. Manipal Cigna ProHealth Prime Advantage Plan offers Maternity Coverage along with a New Born Baby Cover (including 1st Yeat Vaccination Expenses) with a Sub-Limit of 10% of Policy Sum Insured subject to a maximum limit of Rs1 lakh.
9. The Policy also offers Infertility Treatment Cover of upto Rs2.5 lakhs.
10. Waiting Period of 24 months for Specific Diseases
11. Waiting Period of 24 months for Pre-Existing Diseases
12. Waiting Period of 24 months for Bariatric Surgery
13. Waiting Period of 36 months for Maternity Coverage
14. The Premiums are applicable for Section 80D Deduction under the Income Tax Act, 1961
15. Lifetime Renewal

How to make a claim under a Family Floater Health Insurance Policy?

The Claim Process for a Family Floater Health Insurance Policy is the same as any other Health Insurance Policy. The Insured can file a Claim in 2 ways

1. Cashless Claim Settlement: The Policyholder has to just show the Mediclaim E-Card at the network hospital. The Insurance Company settles the bill directly with the hospital and the Policyholder does not have to bear any expenses out of his own pocket.
2. Reimbursement Claim Settlement: Under Reimbursement Claim Settlement Process, the Policyholder pays the hospital bill out of his own pocket first and then claims a Reimbursement under the Policy by submitting the required documents to the Health Insurance Company

What are the documents required to make a Reimbursement Claim under a Family Floater Health Insurance Policy?

In order to make a reimbursement claim under your Health Insurance Policy, you need to submit the following documents to your Insurance Broker:

1. Photo Identification Proof of the Insured Person
2. Address Proof of the Insured Person
3. Cancelled Cheque of the Insured Person
4. Health Insurance Card
5. Duly Filled and Signed Claim Form
6. Doctor’s Prescriptions
7. Diagnostic Reports
8. Hospital Reports
9. Hospital Bills and Pharmacy Bills
10. Hospital Discharge Summary

How to Buy a Family Floater Health Insurance Policy with Qian?

Qian Insurance is a licensed Insurance Brokers in India with tie-ups across a wide range of Health Insurance Companies in India. The dedicated team at Qian will assist you in comparing Health Insurance Plans across multiple plans.

You need the following documents to purchase a family floater health insurance:

1. Photo Identification Proof
2. Address Proof
3. Duly Filled and signed proposal form
4. Medical Reports
5. Premium Cheque If you wish to purchase a Health Insurance Policy, you can reach out to us via email at insurance@qian.co.in or call us on 022-35134695.

How to Renew a Family Floater Health Insurance Policy with Qian?

Family Floater Health Insurance Policies offer lifetime renewal. Hence, your Insurer cannot discontinue the Policy at any time except in the cases of fraud or missing of premium payment. Policyholders need to follow the below-mentioned steps to renew their Health Insurance Policy:

1. Contact Customer Service: Contact Qian Customer Service by at insurance@qian.co.in or call on 022-35134695 to renew your Policy. If you wish to port your Health Insurance Policy, intimate the same to the customer service.
2. Renewal Notice: Qian will send a Health Insurance Policy Renewal Notice mentioning the renewal premium.
3. Renew Policy: You can renew the Policy online by paying the Premium via the payment link sent by Qian.
4. Receive Policy: Once the Premium is paid, you will receive the Policy Copy via email and the hard copy will also be dispatched to the given address.

Compare and Get the Best Health Insurance Quotes with Qian!

A Family Floater Health Insurance Policy offers peace of mind by ensuring that you are financially protected against unexpected medical emergencies. The Policy also helps you in managing the rising costs by covering a substantial portion of medical expenses, including hospitalization, surgeries, and medications Qian Insurance has tie-ups with leading Health Insurance Companies so that you can choose from a range of Policies depending on your budget and requirements. Qian is an experienced Insurance Broker for family floater health insurance and can assist you in selecting the best family floater health insurance plans as per your requirements. We will assist you with the entire Claim Process for your Health Insurance Policy. Get the Best Quote for Health Insurance Policies with Qian. You can get in touch with us at insurance@qian.co.in or call us at 022-35134695. We would be glad to assist you.

Frequent Asked Questions About Family Floater Health Insurance Policy