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Family Floater Health Insurance

Best Family Floater Health Insurance Plan in India


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7.5% Discount
10% Discount

Your premium is Rs.

Above Premium includes 18% GST



Claim Settlement Ratio (OND 2018)


8350+ +

Network Hospitals across 500 cities


400 Lacs+

Lives covered

Your family's health and well-being is always a priority, and you make every possible effort to safeguard their health and happiness.  Opting for family health insurance is an investment you should make for a secure future. 

A family floater health insurance policy covers several family members under one policy, ensuring that all family members benefit from a common pool.

Sometimes, hospital bills and other medical expenses could be so high that it can considerably impact your savings. A family floater mediclaim policy offers comprehensive health coverage will give you a financial safety cushion during medical emergencies. So, you will not have to spend large sums of money from your savings and avoid financial hardships.

Table of Content:

What is Family Floater Health Insurance?

Family floater health insurance is a health plan that covers the entire family instead of an individual under a single policy. When covered with a floater, every family member gets the medical benefits under the same umbrella. Best family floater plans offer a high sum insured at a single premium per year, available to all the members. After the first claim settlement, other family members can also avail multiple claims from the rest of the sum insured.

Key Features of Family Floater Health Insurance

The key features of best family floater health insurance are;

  • The health plan covers several members of the same family.
  • Considering factors like risk and location, the primary policyholder can select a high or low coverage amount, based on which the premium amount is decided.
  • The insured persons can avail of the cashless hospitalization facility at any network hospital.
  • The policy includes a co-payment feature if the age of the eldest member is 61 years or above.
  • There is a waiting period for treatment cover for pre-existing illnesses.

Individual vs. Family Floater Health Insurance

Individual health insurance plans offer insurance coverage for a single person only, and the policy is bought in their name. On the other hand, family floater health insurance plans are comprehensive plans that offer health coverage to an entire family; wherein all the members share the premium cost and sum insured.

How Does Family Floater Health Insurance Works?

Let us suppose a family floater health insurance plan covers a family consisting of an individual, spouse, and two dependent children. Firstly, the premium amount is decided based on the age of the eldest member.

Now, for instance, if the family floater mediclaim policy offers a sum insured of Rs 5 lakh. If one member falls ill and is hospitalized, that family member can get coverage for the medical expenses from the family floater health insurance plan.  If hospitalization expenses came out to be Rs 2 lakh, then the remaining Rs 3 lakh is available for the rest of the family, and multiple claims can be made with that amount.

Benefits of Family Floater Health Insurance

  • Affordable compared to individual health insurance plans
  • Option to add new family members to the plan
  • High sum insured available for the entire family
  • Facility to get cashless hospitalization
  • Increased sum insured upon policy renewal
  • Maternity cover with a waiting period

Why should you opt for Family Floater Health Insurance?

Family Floater Health Insurance offers comprehensive health coverage for all the family members under a single policy. It is a better option for a family with kids. Family floater plans offer adequate cover at an affordable cost and eliminate the hassle of multiple individual plans. Moreover, one can avail a discount of 5% if family members are covered in the same policy on individual sum insured basis. It offers the following benefits.

  • Pre-hospitalization Cover: Family floater medical insurance covers the pre-hospitalization charges of the procedures an insured undergoes before getting hospitalized, such as diagnostic tests and routine medication. It is available for a period of up to 30 days before your hospitalization.
  • In-Patient Hospitalization Cover: The policy covers an extensive range of hospital expenses incurred by an insured entailing room charges, nursing expenses, ICU charges, surgeon's fees, doctor's fees, anesthesia, blood, oxygen, and operation theatre charges, etc.
  • Ambulance Cover: The policy covers the costs that an insured incurs for availing a domestic road ambulance. One can also choose an air ambulance cover, which is an optional cover in the policy. 
  • Post-Hospitalization Cover: The family health policy covers the expenses that the insured person incurs while recovering after discharge from the hospital. That includes doctor consultations, diagnostic tests, etc.
  • Domiciliary Hospitalization Cover: In case the insured person is not getting admitted to a hospital and instead opting for treatment at home, then the policy also offers domiciliary hospitalization cover for a defined period.
  • Annual Health Check-Up: Annual health check-up is a key benefit available for the insured members in family health insurance plans.  
  • Lifelong Renewability: Family floater health plan ensures your family members receive continued coverage under the policy throughout life, by opting for regular policy renewal

Factors Affecting the Premium on a Family Floater Health Insurance Policy

The following factors affect the premium cost on a family floater medical insurance policy:

  • Age: Young policyholders are less likely to face health issues and have much lower premium as compared to their older counterparts.
  • Body Mass Index​: Body mass index, calculated using weight and height may affect the premium since it is an indicator of good health.
  • Family Medical History: If there is a history of severe ailment in the family, it may lead to increased premium since the member is also likely to suffer from that ailment.
  • Consumption of injurious substances: People who regularly consume alcohol and smoke are likely to pay a higher premium than those who don't partake in such activities.
  • Sum Insured: The premium depends on the coverage amount one has opted for. Premium will be higher if the sum insured chosen is higher.
  • Add-on cover: Policyholders have the benefit of optional covers to boost their coverage. For this, there will be an additional premium cost.
  • Discounts: Premium also depends on factors like discounts. Policyholders have the choice to get a discount on the premium if they select a policy with a longer tenure option say 2 or 3 years. 

>> Check: Health insurance Plans for Family

Tips to Choose the Best Family Floater Online

Factors to consider when choosing a family floater health insurance policy:

  • Opt for a policy with a shorter waiting period for pre-existing diseases
  • Ensure the plan offers flexibility to increase the sum insured
  • Select the policy with the maximum renewal age of each
  • Check the nearest network hospitals for a cashless treatment facility
  • Look for a policy with minimum exclusions

Eligibility for Family Floater Health Insurance Plan

The minimum entry age for a family floater mediclaim policy is 90 days with at least one insured person of 18 years.

How can I customize the best family floater cover for my family?

You can buy family floater health insurance and customize it according to the number of members you want to be insured, age, and premium. Moreover, you can also opt for our add-on covers such as a reduction in wait period, OPD cover, COVID care, no claim bonus, etc., to enhance the coverage of your family floater health plan.


What is the minimum and maximum policy duration?

For the family floater mediclaim policy, the minimum duration is one year, and the maximum is three years with a lifelong renewability option.

Is there any tax benefits under family floater health insurance

Yes, under section 80D of the income tax act of India 1961, you can avail of tax benefits as well under family floater policy subject to income tax rules and regulations.

Is a medical check-up necessary before buying family floater health insurance?

There is no pre-policy medical check-up before buying family floater medical insurance for sum insured till 40 lacs and age up to 60 years.

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