Today, people are more aware about healthcare expenses and hence, buy online health insurance policies India because they know that it helps mitigate the risk of such expenses. But, majority of customers are always confused whether to buy family floater plan or individual health policy.
An individual insurance gives separate coverage for each person with defined cover. On the other hand, a family floater policy online can be utilized by any of covered members. Under family floater, any family member mentioned in a policy can utilize this whole limit.
Generally, these plans are considered to be more affordable as compared to individual plans. In fact, family floater health insurance India provides more flexibility especially in terms of accessing the whole coverage among the group.
It has been observed that buying a family floater health insurance is always more beneficial for a family. But, it may not be the same case in all conditions. But, opt for individual mediclaim policy if you have older family.
The younger family has a distinct cost benefit in case they choose to go in for family floater insurance, but at the risk of decreasing the overall family coverage.
Here, customers should know that when you grow older, the visible cost-advantage of this policy will soon be decreased to almost zero but overall family coverage will be decreased when they require it the most.
The family floater policy will be renewed only till the senior most family member crosses the maximum renewability age. The same concept applies to children who attain the maximum age, around 25 years.
Usually, most plans have no certain provision for continuing coverage of surviving members in case of the unfortunate demise of the senior-most family member. Also, the health insurance claim under family floater policy from one member will increase the premium cost for the entire family.