FAMILY FLOATER

One Policy to Protect Your Entire Family's Health

A family floater plan covers all members of your family under a single sum insured — more affordable than individual plans for young families with children.

Cover 2–6 Members

Single Policy

Rs.5L to Rs.50L

Sum Insured

Cost-Effective

vs individual plans

Get Started Talk to Advisor

Family Floater Example

FamilySelf + Spouse + 2 Kids

Sum InsuredRs.25 Lakhs

Annual PremiumRs.22,500

Cashless Hospitals10,000+

Restoration BenefitUnlimited

KEY FEATURES

Benefits of Family Floater Health Insurance

Cover the Entire Family in One Policy

A single policy covers self, spouse, and dependent children up to age 25. Some plans extend to parents and in-laws. Simpler management with one renewal date and one premium.

Cost-Effective for Young Families

For a family where members are young and relatively healthy, the floater premium is significantly lower than buying separate individual policies for each member.

Restoration Benefit

If the sum insured is exhausted during the year due to one claim, restoration benefits replenish the sum insured for subsequent claims by other family members — at no extra cost.

Waiver of Premium on Critical Illness

Some plans waive future premiums if the primary insured is diagnosed with a critical illness, ensuring the family remains covered even if the breadwinner is ill.

Maternity and Newborn Cover

Plans include maternity benefit for planned deliveries after the waiting period, plus newborn cover from day 1. Essential for families planning to have children.

Annual Preventive Health Check

Leading plans include annual preventive health check-up for all covered members as a free service. Blood tests, ECG, and basic screening at no additional cost.

ELIGIBILITY

Family Floater Eligibility

Any nuclear family — self, spouse, and dependent children. Some plans include parents and in-laws.

✓Self aged 18–65 (as primary insured)
✓Spouse and children automatically covered as dependents
✓Children covered from 3 months to 25 years (plan dependent)
✓Parents can be added in some floater plans up to age 60
✓Honest declaration of all pre-existing conditions required
✓Minimum sum insured Rs.3 lakhs; recommended Rs.15 lakhs for families

Documents Required

✓PAN Card (primary insured)
✓Aadhaar for all family members
✓Passport-size photographs
✓Medical history declaration for all members
✓Doctor reports for existing health conditions
✓Bank account details (auto-debit)

THE PROCESS

How It Works

Assess Family Health Needs

Share family composition, ages, city, and any existing health conditions. We recommend the right sum insured and identify plans that cover each member's specific health situation.

Compare Plans with Floater Vs Individual

We present the cost comparison: separate individual plans vs a floater vs a combination of floater + top-up. For most young families, a floater with top-up is the most cost-effective.

Apply for All Family Members

Submit one proposal covering all family members. Declaration of health conditions is done for each member. We pre-check all declarations to ensure accuracy.

Policy Active — All Members Covered

All enrolled family members can use the cashless network from day 1. Add a newborn within 90 days of birth to extend coverage automatically.

Frequently Asked Questions

Should I choose a family floater or separate individual policies?

For young families where all members are healthy, a floater is more economical. As members age or if one has chronic conditions, individual policies may be better because an older member's claims will exhaust the shared floater sum insured, leaving others unprotected. A common strategy: floater for self and children, separate policy for parents.

What happens if the entire floater sum insured is used up in one hospitalisation?

If a single hospitalisation exhausts the entire sum insured, remaining family members have no cover for the rest of the year unless you have a restoration benefit or top-up plan. This is the main risk of floater plans. We recommend choosing plans with unlimited restoration to mitigate this.

Can I add a newborn to my existing floater policy?

Yes, most plans allow adding a newborn within 90 days of birth to the existing floater. Some plans cover the newborn from day 1 automatically. Contact the insurer or us within this window — missing it means the child can only be added at renewal. We remind you and handle the endorsement.

What is a super top-up health insurance plan?

A super top-up plan kicks in when your hospitalisation bill exceeds a defined deductible (say Rs.5 lakhs in a year). It is an affordable way to increase your total cover. For example: base floater of Rs.10L + super top-up of Rs.40L with Rs.10L deductible. Total coverage: Rs.50L at much lower cost than a Rs.50L floater.

Can working children buy a family floater for their parents?

Yes, many people buy a senior citizen health plan for their parents and claim Section 80D deduction of up to Rs.50,000 for premiums paid for parents above 60. Parents do not need to be on your floater — a separate plan for them is often better given their age and health conditions.