What is a Family Floater Plan? Features & Benefits

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One of the most booming service sectors in today’s date is none other than Insurance. Loads and loads of insurance policies, insurance providers and so also insurance policyholders can be located in this particular sector in recent times. Some of the famous policies include Life Insurance Policy, Motor Vehicle Insurance Policy, Health Insurance Policy and so also Retirement Policy to list down a few. However, one such insurance plan that has just recently joined the league of top of the mind insurance policies is the Family Floater Plan. In this article, we will be discussing the Family Floater Plan with special focus on its features and benefits.

In today’s date, one of the priority policies that is enjoying a good deal of response from the present as well as prospective insurance policyholders is none other than the Health Insurance Policy. Ever since its inception this particular policy has continuously witnessed an upward trend. The main reason behind the same is the utmost importance that people in India have placed on Health. Considering the huge popularity of this particular policy a number of variants have been introduced in the name.

One of the most well known variants is none other than the Family Floater Plan. As we all know in case of an individual health insurance policy, coverage is provided only to that particular person who is insured under the same. As opposed to this phenomenon, Family Floater Plan helps you to insure your complete family under a sole health insurance policy. Most of the companies include self, spouse and their two dependent children under a Family Floater Plan. However, there are some other companies that also help one to include his or her parents as well as parents-in-law under the Family Floater Plan.

One main reason behind the popularity of the Family Floater Plan is because of the nominal quotes that it enjoys as compared to the quotes given out by insurance service providers for individual health insurance policies. Hence, if you decide to buy one Family Floater Plan then, the sum charged for the same will be less as compared to the total sum directed to the four individual health insurance policies. Thus, buying a Family Floater Plan is considered to be a cheaper option as compared to the individual health insurance plans. Apart from this, the Family Floater Plan is known for floating the assured sum of money among all the members who are listed under this particular plan.

Moreover, you can list one individual, more than one individual or so also all the individuals insured under this policy for the usage of the assured sum. In addition, since there is only one policy for the entire family you can easily and effectively manage the same. In case there happens to be any addition to the family then, you are not required to take out another separate policy, but can add the individual to this particular policy itself. This tends to add to the further convenience. Hence, if you desire to get your complete family insured with health insurance then, it is advisable to opt for a Family Floater Plan.

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