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Things you Should Know Before you Buy a Family Floater Health Insurance Plan

TeamAckoJan 18, 2024

In the dynamic landscape of today's healthcare industry, safeguarding the health and well-being of your family has become a paramount concern. Here, a family floater health insurance plan is a comprehensive solution that not only offers financial security but also peace of mind. In this article, we will highlight essential considerations that will guide you in making an informed choice when purchasing a family floater health insurance plan.




10 questions to consider before buying a family floater health insurance policy

Selecting a family floater health insurance plan requires meticulous consideration. By evaluating factors such as the sum insured, premium affordability, coverage for various medical expenses, and value-added features like telemedicine and app-based claims settlement, you're poised to make an informed decision aligned with your family's health needs and financial well-being. 

Ask yourself the following questions before buying family health insurance.

1. Is the sum insured adequate?

The sum insured is the cornerstone of your health insurance policy. Before making a decision, evaluate your family's needs. Consider the city you live in, prevailing medical costs, and the health conditions of your family members. Opt for a sum insured that provides a comfortable buffer against medical uncertainties. Inflation and rising healthcare costs should be factored in when determining the adequacy of the sum insured.

2. Is the premium amount manageable?

While comprehensive coverage is paramount, it's equally important to select a policy that aligns with your budget. Calculate the premium amount that you can comfortably allocate without compromising other financial commitments. Several insurers offer policies with varying premium options, allowing you to strike a balance between affordability and comprehensive coverage.

3. Is the insurer's network of hospitals extensive?

Access to quality healthcare is non-negotiable. One of the fundamental advantages of health insurance is the network of hospitals it provides access to. Verify if the insurer's network includes reputable hospitals and medical facilities in your city. A wide network ensures that you have options during emergencies and seamless cashless claim processing.

4. Does the policy cover hospitalisation, pre-hospitalisation, and post-hospitalisation expenses?

A comprehensive family floater health insurance plan should cover not only hospitalisation expenses but also pre-hospitalisation and post-hospitalisation costs. Medical treatment often involves consultations, diagnostic tests, and follow-up care. These costs, if not covered, can accumulate quickly and strain your finances.

5. Does the policy cover daycare procedures?

In the era of advanced medical procedures, many treatments no longer require prolonged hospital stays. Ensure that the policy covers daycare procedures, which include surgeries and treatments that don't demand 24-hour hospitalisation. This coverage can be particularly relevant, especially if you have young children who might require specialised medical attention.

6. Does the policy cover ambulance charges?

In times of medical emergencies, the cost of ambulance services can be a significant concern. Make sure that the policy includes coverage for ambulance charges. This feature ensures that you can access timely medical transportation without incurring extra expenses.

7. Does the policy cover AYUSH treatments?

India has a rich heritage of alternative medicine, encapsulated in the AYUSH systems. Ensure that your chosen policy provides coverage for AYUSH treatments, allowing you to explore holistic healing methods such as Ayurveda, Yoga, Unani, Siddha, and Homeopathy.

8. Does the insurer facilitate an app-based claims settlement process?

Efficiency in claims settlement can make a significant difference during stressful times. Many insurers now offer app-based claims processing, simplifying the submission and approval of claims. This digital approach expedites the process, enabling you to focus on your family's well-being rather than administrative hassles.

9. Is telemedicine facility available?

The concept of telemedicine has gained prominence, especially in recent times. Check if the policy provides access to telemedicine services. This feature allows you to consult with medical professionals remotely, which can be particularly advantageous for non-emergency medical queries and consultations.

10. Are the online reviews positive?

In the digital age, insights from other policyholders can provide valuable guidance. Research online reviews and testimonials about the insurer and the policy. Positive reviews often indicate a satisfactory customer experience and reliable claims settlement procedures.

Frequently Asked Questions (FAQs)

This section features answers to some common queries about family floater health insurance in India.


How do I determine the right sum insured for my family?

Calculating the appropriate sum insured involves considering factors such as the number of family members, their ages, and any existing health conditions. Also, take into account the medical costs in your city and potential inflation. It's wise to err on the side of caution and opt for a higher sum insured to ensure comprehensive coverage for unforeseen medical expenses.

Can I afford a comprehensive family floater plan on a tight budget?

While comprehensive coverage is essential, there are plans designed to suit various budgets. The key is to strike a balance between coverage and affordability, ensuring that you're adequately protected without straining your finances.

How do I know if a health insurance policy's network hospitals are convenient for my family?

Before finalising a policy, review the list of network hospitals provided by the insurer. Ensure that the network includes hospitals in your city or locality. Additionally, check if renowned hospitals and medical facilities are part of the network, as this can ensure access to quality healthcare services.

What's the significance of pre-hospitalisation and post-hospitalisation coverage?

Pre-hospitalisation coverage takes care of medical expenses incurred before the actual hospitalisation, such as diagnostic tests and consultations. Post-hospitalisation coverage covers expenses for follow-up treatments and care after discharge. Both are crucial as they provide a holistic coverage approach, addressing the entire medical journey.

How can I make the most of telemedicine services offered by my insurance policy?

Telemedicine services allow you to consult doctors remotely, which is particularly beneficial for non-emergency medical advice. To utilise this service, simply register on the insurer's telemedicine platform or app. You can then schedule virtual consultations with doctors, get prescriptions, and seek guidance on minor health concerns without leaving your home.

Disclaimer: The content on this page is generic and shared only for informational and explanatory purposes. It is based on industry experience and several secondary sources on the internet, and is subject to changes. Please go through the applicable policy wordings for updated ACKO-centric content, and before making any insurance-related decisions.


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