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This Time Gift a Health Insurance on International Families Day

Today is International Families Day- A day to celebrate the importance of family, which is not just limited to parents and siblings, but also includes uncles, cousins, in-laws and grandparents.

This time, don’t waste money on bouquets and cakes, gift them something substantial. Say THANK YOU to the entire family by covering them under an extended family health insurance plan that shields them against vulnerable diseases.

  After all, it’s all about loving your family!

What is Extended Family Floater?

Unlike traditional family floaters, the extended policy covers up to 15 close relationships, including in-laws, grandchildren, daughter-in-law and widowed/divorced daughter.

The plan is a blend of individual and family floater. An individual plan covers a person under a single sum insured, while in the family floater, the sum insured floats on the entire family.

How does it Work?

The separate sum insured for the individual as well as floater cover has to be set. For individual and family cover, it varies between Rs 1-5 Lakh & Rs 3-15 Lakh respectively. At the time of hospitalization, the policy will first use the individual cover and will dip into family floater only after the exhaustion of the individual plan. If the proposer dies during the policy term, the insurer will ask for a new proposer who is carefully reassessed before renewing the policy under his name.

Buying health insurance for extended family entitles you to get Rs 25,000 tax deductions and if there is a senior citizen then the limit could rise to Rs 30,000. It means that the total tax deduction would be Rs 55,000.

You may also like to Read: Section 80D

Key Features of Extended Family Insurance-

  • Policy tenure may vary between 1- 3 years
  • Maternity coverage after 2 years of continuous policy renewal
  • Cost effective as compared to buying an individual policy for each member
  • Coverage to critical ailments like cancer, stroke, etc.
  • Restoration benefit where the cover is replenished if a claim is being made by a family member
  • Coverage to Day Care treatment
  • Additional rider options available like Health Critical Illness rider, etc
  • Newborn coverage from Day 1
  • Personal Accident cover

Best Options in the Markets

A lot of insurance companies are coming up with innovative and customized products to tap the Indian joint family system. Some of the best family floater plans are-



Members Covered

Max Bupa

Family First

Self, spouse, kids, parents-in-law, daughter-in-law, grandparents and grandchildren


Happy Family Floater

Self, spouse, kids, parents-in-law, daughter-in-law, divorced/widowed daughter

Aegon Religare


Self, spouse, kids, parents-in-law, siblings

Bajaj Allianz Life

Family CareFirst

Self, spouse, kids and parents


Buy the one that suits your needs the best.

After all, as Mahatma Gandhi said,

“It is health that is real wealth and not pieces of gold and silver.”

So take care of yourself and the health of your loved ones!

You may also like to Read: Deduction under Section 80C