Protect your family’s health under one insurance plan

SBI General

Health should be of primary significance in our priority list. Especially in today’s stressful times, it is paramount that we are more prudent about it. Sometimes, despite adopting a healthy lifestyle and taking precautions, we might be faced with health emergencies or accidents.

Whilst you cannot control health emergencies, you can take steps to be prepared for any health emergency. The easiest way to introduce the elements of planning and financial security to your health is by buying a suitable health insurance policy as early as possible in life. Besides individual policies, one of the key options that help in covering the whole family is a family floater.

A family floater policy is essentially a health insurance plan that covers the unexpected medical expenses of the entire family. Through this, an individual can get all their family members covered by paying one single premium.

The family plan extends the benefits of a policy to your entire family, typically including your spouse, dependent children, and parents. While selecting a family health insurance plan, make sure to check if it extends coverage to other family members. Insurance seekers can then add another member to the floater plan or buy the fixed floater options, by paying a nominal amount of extra premium to make sure there is enough coverage for every person.

Speaking on the benefits of a family health insurance policy, Mr. Shreeraj Deshpande, Head – Health Business, SBI General Insurance said, “Health insurance is a crucial investment to protect your loved ones in times of medical emergencies. With family health insurance plans or family floater plans, a single health insurance premium provides comprehensive coverage for every member of your family at an affordable premium and helps you stay stress-free. It will help you ensure that you have enough finances to give your loved ones the best treatment for a speedy recovery.”

The premium for a family floater health insurance policy is generally lower than the combined premiums of individual health insurance policies for each family member. These plans usually cover expenses related to hospitalisation, medical treatments, and even pre and post-hospitalisation expenses. Furthermore, under Section 80D of the Income Tax, an individual can claim tax savings of up to Rs. 25,000 every year.

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