Antony Jacob CEO, Apollo Munich Health Insurance explains that a floater health insurance plan is tailor-made for growing families. The idea behind a family floater plan is that an individual, spouse and children are covered for the policy period without a specific limit on each member. If you are recently married or have just started a family, we would recommend you consider a floater plan. Under this plan, the premium amount is dependent on age and health status of the eldest member of the family. This type of plan is most suited for young families and for those who already have an employer provided health insurance cover, but would need the benefit of continuous coverage for themselves and their families in case of job change, etc.
If one of your family members is older than 50, has health issues or lifestyle issues, it would be sensible to look for an individual cover for that member. It is advisable to have a separate cover for people with special needs. You should also carefully review and understand the benefits, waiting periods, exclusions and features of the plan you choose. Remember to disclose all medical conditions while filling up the proposal form. This will help you have a hassle-free experience at the time of filing claims.
