Family floater policies are offered by a number of health insurance companies in India. If a number of family members are ill then the assured amount is distributed among them and multiple claims are entertained. It is cost-effective as it saves the money of opting for a plan for every individual. A family floater health insurance plan means that several family members are covered by paying a single premium yearly for an assured amount.
Family Floater Insurance providing top insurers:
Name of the plan
Oriental General Insurance
Happy Family Floater
. Under silver-1000 INR/ 1% of assured amount
Under gold- 2000 INR/1% of assured amount
Heartbeat Family First (Gold)
Complete Health Insurance
Family Health Guard
The paid premiums are benefitted from tax deductions as stated under Income Tax Act’s section 80D. Sum up to fifteen thousand can be deducted on the health insurance premium for children, spouse and self. An added exemption of twenty thousand is given if senior citizens are covered. If anyone availing this plan covers his family members who are senior citizens, thirty five thousand rupees can be saved in taxes.
If you are worried about the scenario where upon the admittance of a family member, the entire assured amount gets exhausted, then you should know that certain insurers feature automatic top-up/recharge of the assured amount by 100%. It also covers recurring hospitalization in the current year.
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