What is a floater in Star Health Insurance?

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What is floater in Star Health Insurance?

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A floater in Star Health Insurance is a single insurance policy that covers multiple members of the same family for medical expenses. A floater policy protects both individuals under one policy and premiums are paid for cover against a single sum insured. Floater policy not only offers convenience of having one policy for all the family members but also helps to save money.

Floater policy in Star Health Insurance offers coverage for medical expenses for self, spouse, children and dependent parents (or parents-in-law).

Benefits of Floater Policy from Star Health Insurance:

• Easy to manage: The floater policy is easy to manage as it offers coverage for all the family members with one policy and one premium.

• Flexible: Floater policy covers the entire family, including parents and parents-in-law. Moreover, the sum insured can be shared among the family members as per their needs.

• Cost effective: As the whole family is covered by just one floater policy, the premium is cheaper than buying individual health policies for all family members.

• Tax Benefits: Premium paid under a floater policy is eligible for tax benefits, under Section 80D of the Income Tax Act.

To know more about Floater Policy from Star Health Insurance and other health insurance policies offered by Star Health, you can visit the following link:
https://www.starhealth.in/health-insurance-plans/family-health-insurance

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Floater plan in Star Health Insurance is a policy that provides coverage for the entire family. It is different from the normal plans as it provides coverage to all the members (say spouse, children, siblings, parents etc.) under the same sum insured.

Essentially, floater plan combines the individual sum insurace limits applied separately to all the members in the family and pools them into one single sum insured, making it very cost effective. The total coverage is divided among all the members and is payable as per their requirements, subject to the sum insured limit.

Let me explain this with an example - Say if you opt for a floater plan with a sum insured of Rs.5 Lakhs and in the family include yourself, your spouse, your child and parents. All will be covered under the same sum insured limit of Rs. 5 lakhs and bonuses, discounts and some other benefits will be applied to the plan. Under the floater plan, the sum insured limit of Rs. 5 Lakhs can be utilized for any of the members, making it more viable for larger families.

Finally, floater plans are suitable for people who want to ensure coverage for all the family members at an affordable premium.

You can read more about Star Health floater plans here:
https://www.starhealth.in/products/family-floater-plans

Tinyswan

Floater in Star Health Insurance is a type of coverage designed to provide additional insurance protection for a single family with multiple members. This means that multiple family members can be covered under one policy with one premium rate. The coverage for each individual will be protected under the same sum assured. The benefits are available for any medical expenses incurred during the policy period, including hospital expenses, doctor’s fees, medicines and even pre and post hospitalization expenses. This type of policy is great for families because it provides financial security regardless of each family member’s medical history. Plus, it can be an economical option for a family that needs protection from medical expenses.