Health
Family Floater Plans: An Overview of Inclusions and Exclusions
Family floater health insurance plans are designed to provide an umbrella cover to the whole family, covering all members in a single policy. Buying the right family floater plan is not an easy task, as it requires you to understand the inclusions and exclusions of the policy clearly.
Sunil, a 35-year-old working professional at an MNC in Pune, had purchased a family floater plan from a well-known health insurance provider. He was relieved that the entire family was covered for any health emergencies. During the year, his father was admitted to a hospital for prostate surgery. That is when he surprisingly discovered that he could get a partial coverage for the claim as there were sub-limits on the room rent, and a few of the tests before hospitalisation were not covered as per the policy wordings.
Sunil’s is not an uncommon story. Many families assume all bases are covered under family floater health insurance plans. Finding exclusions at the time of claim settlement can only lead to rejection and cause financial distress. Awareness before you buy a policy is extremely crucial. Let’s discover some common inclusions and exclusions under a family floater plan in India that can help you make an informed decision.