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Insurance Article

How to Insure Family's Health with Medical Insurance

June 05 2012
However, with the insurance sector becoming more and more tuned to the needs of the consumer, you do not have to face such problems anymore. Nowadays, you can avail the benefits of an insurance policy that will take your whole family under its protection. This policy is known as the family floater health insurance policy which acts as an umbrella for the whole family.

For example, if you have four members in your family then you can have two scenarios.
  • The first scenario is that you ensure each and every member of the family with a health insurance policy individually of some sum.
  • The second scenario is that you insure health of your family through a family floater health insurance policy worth a certain amount.
Now, in case one member of the family falls sick or gets injured and the costs of appropriate medical treatment rises to a certain limit, then with scenario one, the extra money would have to be paid by the family. However, in the same situation with scenario two, the family would not have to pay anything from their pockets to get the injured or sick member treated. Apart from this clear advantage over individual health insurance policies, if you take steps to insure health of your family with a family floater policy then you can avail other benefits as well. The following are some.
  • Any medical expenses that you may incur during treatment owing to hospitalisation for more than 24 hours will be handled by the insurance provider if you take measures to insure health of your family with this policy.
  • In addition to this, your family would also be entitled to protection against the medical expenses for the period of 30 days before and 60 days after hospitalisation.
  • After having the policy active for a while, you would also be entitled to inclusion of pre existing ailments.
  • If you insure the health of your family with family floater plans then you would be entitled to cashless claims facilities with many hospitals which fall under the network of the majority of the policies.
  • With these policies you can avail tax benefits as per Section 80D of the Income Tax Act of 1961.
As is more than apparent, when you insure the health of your family through family floater policies you ensure that they get as many benefits as is possible. Availability of a bigger insured amount goes a long way in relaxing you and your family about medical emergencies.


If you invest to insure health of your family with a family floater health insurance policy, you are not only ensuring the availability of appropriate medical attention but also your long term financial stability. Furthermore, benefits available when you insure health of your family with such a policy also include multiple tax benefits..

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