What is Family Floater Mediclaim Policy?
A Family Floater Mediclaim Policy is a type of health insurance policy that provides medical coverage for an entire family under a single sum insured. Instead of purchasing separate policies for each family member, a family floater allows the sum insured to be shared among all covered members, including the policyholder, spouse, children, and sometimes parents. This policy covers hospitalization expenses, surgery costs, diagnostic tests, and other medical expenses for any insured family member. It offers a convenient and cost-effective way to secure health coverage for the whole family, as the entire sum insured can be utilized by one or more members as needed during the policy period.
Why Family Floater Mediclaim Policy Needed?
A Family Floater Mediclaim Policy is needed for several key reasons, providing comprehensive health coverage and financial protection for the entire family
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Cost-Effective
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Shared Coverage
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Convenience
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Peace of Mind
Why Choose Insurance Vala for Your Family Floater Mediclaim Policy?
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Tailored Plans: Insurance Vala provides customized family floater policies designed to meet your specific family health needs and budget, ensuring comprehensive coverage and value.
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Expert Guidance: We offer professional advice on selecting the right policy, explaining coverage details, and helping you understand the best options for your family’s health requirements.
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Efficient Claims Handling: We help on streamlined and transparent claims process, providing prompt support and assistance to ensure quick and hassle-free claims settlements.
FAQ's for Family Floater Mediclaim Policy
What is covered under a Family Floater Mediclaim Policy?
A Family Floater Mediclaim Policy typically covers hospitalization expenses, including room charges, surgeries, doctor fees, diagnostic tests, and medications. It may also include pre-hospitalization and post-hospitalization expenses, emergency ambulance charges, and day-care procedures.
How is the sum insured utilized in a Family Floater Policy?
The sum insured in a Family Floater Policy is shared among all covered family members. This means that the total coverage amount can be used by any insured member or distributed among them based on their medical needs during the policy period.
Can pre-existing conditions be covered under a Family Floater Mediclaim Policy?
Yes, most family floater policies cover pre-existing conditions after a waiting period, which typically ranges from 2 to 4 years. It’s essential to disclose any pre-existing conditions at the time of purchasing the policy to ensure coverage after the waiting period.
What happens if one family member exhausts the sum insured?
If one family member exhausts the sum insured, the remaining sum can still be used by other covered members, as long as the total coverage limit has not been reached. It’s important to choose a sum insured amount that is adequate for your family’s needs.
Is a Family Floater Policy more cost-effective than individual policies?
Yes, a Family Floater Policy is generally more cost-effective than purchasing individual policies for each family member. It provides coverage for the entire family under a single plan, offering better value and convenience.