Advantages Of Family Floater Health Insurance Compared To Individual Health Insurance   by Insurancepolicyx@gmail.com

If you are considering a complete insurance plan for your family, look no further, as the Family Floater Insurance Plan covers in its ambit the entire family. Unlike the Individual Health Insurance, which only caters health insurance to an individual, the former covers the entire family insurance. It can be safely said that the Family Floater is the best insurance plan for the family. However, before you actually take up an insurance policy for the family, you must take in consideration the needs and requirements of the family along with a thorough research of the companies offering such insurance policies.

The Family Floater Health Insurance Plan

The Family Floater Plan covers the whole of the family normally comprising self, the spouse and two children dependent on them. There are certain policies that also take into its ambit the siblings, dependent parents and parents-in-law as well. The insurance works on the following principle. Supposedly, a family of four people is insured for a specified amount of money, all of them are entitled to make use of the specified amount for the expenses incurred on their hospitalization. This is one of the benefits of the Family Floater Policy to provide additional coverage. You may find various policies that might be better than this insurance plan when it comes to the entire family, but this policy is the best solution with suitable cost effective benefits.

The Family Health Policy fits in the budget of the family with ease. You do not have to spend on buying separate policies for all the members of the family. A single insurance covers the entire family thus saving you money. The same fact can be verified by comparing the cost incurred on the various policies of different companies. It is also termed as the umbrella cover for the family. Another benefit is that the member of the family can get a greater amount in the claim. Since all the members of the family are covered in the same policy, you can manage the policy in a better manner.

Individual Health Insurance

This kind of policy is normally taken by the unemployed and the self-employed people. People would normally opt for an individual coverage despite them being showed the plan by their company. In the health insurance business, individual plan does not mean that the employee is offered insurance individually. It simply means that the individual has to pay some part of the premium. Even if the individual pays the entire premium of the family plan, the policy will still be termed as the individual insurance policy. The drawback of such plans is the price, which is always expensive than the group policy.

There are many disadvantages to the Individual Health Policy, the foremost being that it does not cover anyone except the person insured. The insurer also has to undergo medical examination. The premium in this kind of insurance is established by the risk factor. This gives the discretion to the insurance company to deny the health insurance to the individual.

To sum it up, the Floater Family Health Insurance Policy is by far the best policy for the family as compared to the Individual Health Insurance Policy.