Often when buying an insurance policy for themselves, people feel guilty about making the security for just themselves. And if you have dependent parents, husband/wife and children to look after – the thought of insurance covers for the entire family seems like a big investment. But not anymore! Family floater policies have made its way into the market ensuring healthcare security for the entire family in just one plan!

Family Floater Insurance is health insurance plans that cover the entire family at an affordable premium in just one policy. While it steers you clear of the guilt of being selfish, it also brings about a wide range of financial and security benefits for the entire family. It’s a better way to secure your family when money is a concern!

Covers the Entire Family in One Health Insurance

In a family floater insurance, a member of the family can take up an insurance policy for the entire family, including husband/wife, parents, extended families, and 2 children. Depending upon the policy period, a member of the family, etc the insurance policy is designed and the premiums are mostly low as compared to individual health insurance plans. In times of unprecedented health concerns, the policy covers medical bills, doctors' fees and treatment expenses for any of the members of the family. Bonus: It is not just the immediate family but also the extended family members, uncles, and aunts who can reap the benefits of the plan in times of need.

Higher Sum Insured

A family floater insurance policy insures for a higher sum than an individual policy. As the provision covers the entire family, the insurance sum is higher which is extended in times of need as per the medical expenses incurred. So while an individual policy sometimes isn’t enough to cover your entire medical expenses and treatments, a family floater policy ensures full coverage giving you a sense of higher security.

Keeps Insurance Cover under Budget

A family floater policy is more of a budgeted insurance cover as compared to the individual policies. Taking individual insurance policies involves individual premium payments, taxes, and fees that sum up to make a huge impact on your current finances. But a family floater policy is an individual policy with a higher sum insured that isn’t multiple but cost-saving when paying premiums. It insures several people at a lesser comparative cost.

Tax Benefits

A Mediclaim or the Family floater insurance cover is tax-deductible and can save your tax costs to a huge extent. While the tax benefits aren’t available if the extended family is involved, one can claim around INR 50,000 to INR 100,000 deduction under section 80D of the Income Tax Act and save tax expenses.

Easy to Maintain

Instead of maintaining individual Mediclaim for the entire family and making individual payments for the premiums, the floater policy brings all the expenses under one giant umbrella and makes the process easy for you. It helps you maintain your insurance policy in a more sorted and easier fashion than other insurance covers.

For a happy and loving family, a family floater insurance policy is the most sort after insurance covers to sign-up for. With benefits for the entire family, it makes finances, healthcare, and security an easy advent!