Family Floater Mediclaim Policies

One must understand the insurance policy before signing on the black dotted line and today we take the Family floater policies and one can consider these as mediclaim insurance policies where the sum insured value floats among the family members. Such policies can cover husband, wife, and children and in some cases parents too. The coverage for the entire family is limited to the sum insured and this point needs to be kept in mind.

For example if a family consisting of husband, wife and one child take a Floater mediclaim policy for a sum assured of Rs.5 lakhs , they will be entitled to claim medial expenses upto Rs. 5 lakhs in total . Thus if the husband and wife both have a claim of Rs.3 lakhs each in the current year, they will be entitled to claim a total of Rs. 5 lakhs only. The extra 1 lakh will have to be paid from pocket.

Do remember to check out the Best Health Insurance for Senior Citizens in India and get that insurance which you needs at a cost effective premium.