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Your family’s health is your most cherished treasure, isn’t it? However, managing healthcare for everyone can sometimes feel overwhelming. That’s where a family floater health insurance plan steps in to simplify things.
Instead of juggling multiple policies, covering all members under one, brings peace of mind. It’s an affordable and efficient way to secure your family’s well-being while protecting your finances.
After all, having family floater insurance is the perfect way to say, “Apno ka khyaal, Suraksha ke saath” 😉
Family Floater Health Insurance is a type of health insurance plan that offers coverage for all members of a family under one policy. Instead of individual health insurance policies for each family member, a family floater policy combines the total sum insured, which can be utilized by any member when the need arises.
This plan is an efficient and cost-effective way to protect the health of your entire family with a single premium.
Imagine one policy covering your entire family, just like a big protective umbrella!
Yes, the Family Floater Policy covers everyone under Umbrella, providing coverage to each member. The premium is cost-effective, as it is a ONE-TIME premium for all family members. Watch this video to know how it works, why it’s cost-effective, and how it keeps your loved ones safe under one shared sum insured.
Medical emergencies can arrive anytime in a family to anyone, leaving a significant loss in your savings. That’s where you will know why having a family floater health insurance plan is necessary. Here are a few reasons why you must have a family floater mediclaim policy:
Medical care expenses are rapidly increasing, and a medical emergency can quickly deplete your cash. With family health insurance coverage, you can easily handle the growing expenses and ensure that no family member is left uninsured.
Unhealthy habits and a sedentary lifestyle have increased the prevalence of lifestyle diseases, which can be financially, physically, and mentally draining. Early purchase of a family health insurance plan can prevent your money from declining while you treat such conditions.
A family health plan is the most evident and significant advantage because it provides financial security against rapidly rising medical costs. Due to medical inflation, a single hospital stay can deplete your savings. Thus, the health plan will protect your hard-earned money.
With financial protection against any medical emergency up your sleeve for all your family, you can feel satisfied and have mental peace.
Under Section 80D of the Income Tax Act, premiums paid for health insurance policies are eligible for tax deductions. Individuals can claim deductions on health insurance premiums for themselves, their spouse, children, and parents up to a specified limit.
Managing a single policy for the whole family is convenient and reduces the paperwork and administrative burden associated with multiple policies. Also, the shared coverage allows policy members to utilise the available coverage as and when needed, thus optimising the usage.
Coverages
Double Wallet Plan
Infinity Wallet Plan
Worldwide Treatment Plan
Important Features
This covers for all hospitalization expenses including due to an Illness, Accident, Critical Illness or even pandemics like Covid 19. It can be used to cover for multiple hospitalizations, as long as the total expenses are up to your sum insured.
You need to wait for a defined period from the first day of your policy to get covered for treatment related to any non-accidental illness. This is the Initial Waiting period.
Exclusive Wellness Benefits like Home Healthcare, Tele consultations, Yoga and Mindfullness and many more available on our App.
We provide a back-up Sum Insured which is 100% of your Sum Insured amount. How does Sum Insured Back Up work? Suppose your policy Sum Insured is Rs. 5 lac. You make a claim of Rs.50,000. Digit automatically triggers the wallet benefit. So you now have 4.5lac + 5 lac Sum Insured available for the year. However, one single claim, cannot be more than the base Sum Insured as in the above case, 5 lac. .
Digit Special
No claims in the Policy year? You get a bonus -an additional amount in your total sum-insured for staying healthy & claim free!
Different categories of rooms have different rents. Just like how hotel rooms have tarrifs. Digit plans give you the benefit of having no room rent cap, as long as it is below your Sum Insured..
Health insurance covers medical expenses only for hospitalizations exceeding 24 hours. Day care procedures refer to medical treatments undertaken in a hospital, requiring less than 24 hours due to technological advancement such as cataract, dialysis etc.
Digit Special
Get a world class treatment with the Worldwide Coverage! If your doctor identifies an illness during your health examination in India and you wish to get a treatment abroad, then we’re there for you.You’re covered!
We pay for your health check-up expenses upto the amount mentioned in your Plan. No restrictions on the kind of tests! Be it ECG or Thyroid Profile. Make sure you go through your policy schedule to check the claim limit.
There may be emergency life-threatening health conditions which may require immediate transportation to hospital. We absolutely understand this and reimburse for expenses incurred for your transportation to a hospital in airplane or helicopter.
Digit Special
Co-Payment means a cost sharing requirement under a Health Insurance Policy that provides that the Policyholder/Insured will bear a specified percentage of the admissible claims amount. It does not reduce the Sum Insured. This percentage depends on various factors like age, or sometimes also on your treatment city called zone based copayment. In our plans, there is no age based or zone based Co payment involved.
Get reimbursed for the expenses of road ambulance, in case you are hospitalized.
This cover is for all expenses before and after hospitalization such as for diagnosis, tests and recovery.
Other Features
The disease or condition that you are already suffering with and have disclosed to us before taking the policy and has been accepted by us has a waiting period as per plan opted and mentioned in your Policy Schedule.
This is the amount of time you need to wait for, until you can make a claim for a specific illness. At Digit it is 2 years and starts from the day of policy activation. For the full list of exclusions, read Standard Exclusions (Excl02) of your policy wordings.
If You sustain an Accidental Bodily Injury during the Policy Period, which is the sole and direct cause of Your Death within twelve (12) months from the date of accident, then We will pay 100% of the Sum Insured as mentioned in Policy Schedule against this cover and as per plan opted.
Digit Special
Your organ donor gets covered in your policy. We also take care of the pre and post hospitalization expenses of the donor. Organ donating is one of the kindest deeds ever and we thought to ourselves, why not be a part of it!
Hospitals can go out of beds, or the patient’s condition may be rough to get admitted in a hospital. Don’t panic! We cover you for the medical expenses even if you get treatment at home.
Obesity may be the root cause of so many health issues. We absolutely understand this, and cover for Bariatric Surgery when it is medically necessary and advised by your doctor. However, we DONOT cover if hospitalization for this treatment is for cosmetic reasons.
If due to a trauma, a member has to be hospitalized for a psychiatric treatment, it will be covered under this benefit, upto INR 1,00,000. However, OPD consultations are not covered under this. The waiting period for Psychiatric Illness Cover is same as Specific Illness waiting period.
Before, during & after hospitalization, there are many other medical aids & expenditures such as walking aids, crepe bandages, belts, etc.,which need your pocket’s attention.This cover takes care of these expenses that are otherwise excluded from the policy.
To understand how Family Floater Health Insurance works, let's consider the example of Mr. Aditya's family. He wanted to buy a family health insurance that provides coverage for each family member. So, he purchased a Family Floater Policy with a sum insured of INR 10 lakhs.
Here are the family members' details of Mr. Aditya:
One day, Aryan falls ill and requires hospitalization for a medical condition. The total medical expenses incurred during his treatment amount to INR 2 lakhs.
The family has a coverage of INR 10 lakhs. Since Aryan's medical expenses amount to INR 2 lakhs, the insurer covers this expense from the shared sum insured. After Aryan's treatment, the remaining sum insured of INR 8 lakhs is available for the medical needs of other family members, including Mr. Aditya, Mrs. Ruchi, Riya and even Aryan again (if the requirement arises).
Securing your family’s health doesn't have to be complicated. Hence, buying a family floater health insurance plan is easy and provides coverage by pooling everyone under one policy with a shared sum insured.
Choose the company that best suits your needs to buy a family floater health insurance. For example, if you choose Digit insurance for purchasing a family floater plan, here are the steps you can follow:
Step 1 – Visit the Digit Insurance website and enter your deatils like the city PIN code and mobile number for verification.
Step 2 – Select the policyholders. For example, you want coverage for yourself, your wife, and your parents (with a specified age).
Step 3 – Enter details such as your parent’s age and any specific medical history they have.
Step 4 – Choose the preferred coverage amount and add any optional riders (add-ons) or benefits.
Step 5 – Complete the necessary personal and contact details.
Step 6 – Review the policy terms, check the cost breakdown, and verify coverage options.
Step 7 – Pay the premium securely online.
Once these steps are completed, the policy will be activated after the insurance provider reviews and verifies all submitted details and documents.
A family floater health insurance claim can be made multiple times a year until the whole sum insured is exhausted. The claiming process is a simple and easy procedure. The hospital you select will determine the claim procedure.
You can file a cashless claim if you have chosen a network hospital, or you can use a reimbursement claim procedure if you have chosen a non-network hospital:
Step 1: Notify your insurer and select a network hospital for your treatment before getting your parent's hospitalization.
Step 2: Show your parent’s e-health card at the network hospital helpdesk and ask for the pre-approval.
Step 3: Fill out and sign the form and submit it to the helpdesk.
Step 4: After verification, the insurance company will take care of the cost involved in the treatment.
Step 1: If you select a non-network hospital for your parent's treatment, keep all the medical bills, reports, and other essential expense documents with you.
Step 2: After treatment, contact your insurer and provide them with all the soft copies of the documents and bank account details for reimbursement of expenses.
Step 3: The insurer will verify the documents, and you will receive a reimbursement for the treatment.
Your health insurance plan with Digit extends several exclusive benefits that enhance your coverage. Here are the key advantages:
|
Co-payment |
No |
|
Room Rent Capping |
No |
|
Cashless Hospitals |
8400+ Network Hospitals across India |
|
Inbuilt Personal Accident Cover |
Yes |
|
Wellness Benefits |
Available from 10+ Wellness Partners |
|
City Based Discount |
Up to 10% Discount |
|
Worldwide Coverage |
Yes* |
|
Good Health Discount |
Up to 5% Discount |
|
Consumables Cover |
Available as an Add-on |
Confused about whether to choose individual health insurance or family floater for all of your family members? Well! Understanding the differences between the both can help you make an informed decision for the financial security of your family along with peace of mind:
Choosing the right health insurance plan for your family can feel like a hectic process, but by considering some essential factors, you can select the best family floater health insurance. Here are some important factors you must consider:
In conclusion, a family floater health insurance plan isn’t just a policy—it’s a commitment to your loved ones’ well-being. Covering everyone under one plan offers financial stability, peace of mind, and the reassurance that your family’s health is always prioritized.
“It is more than just an insurance! It’s a promise of security for your family’s well-being.”
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Disclaimer #1: *Customer can choose options at the time of availing insurance. Premium amount may vary accordingly. Insured is required to disclose any pre-existing condition or on going treatment before policy issuance in the proposal form.
Disclaimer #2: This information is added only for informative purposes and collected from different sources across the Internet. Digit Insurance is not promoting or recommending anything here. Please verify the information before making any decisions.
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