Health Insurance

Family Floater Mediclaim Vs Individual Health Insurance

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Keeping good health is a valuable asset for an individual. Health should be given a priority over other things. Remaining fit is tough and challenging but not impossible. Health insurance should be taken at the earliest. Health insurance can be taken by paying small amount in form of health insurance premium. Early health insurance means insuring yourself for whole lifetime. Hence, it becomes all the more important to secure your health. Health insurance helps you covering this risk. Health care costs have increased considerably over the past few years and mediclaim policy for family provides enough coverage to cover health care costs.

Difference Between Family Floater And Individual Mediclaim or Health Plan

Health insurance is an uphill task without performing homework. Most of the times we are not sure for what kind of policy and coverage is required. There is large number of public and private sector enterprises providing health insurance in the country and it is offered in two variants. It can be taken to insure a single person as well as group of persons. Individual health insurance policy can be taken by an individual to insure them while family floater mediclaim can be used to provide health insurance to whole family. Family health plan is an extended version of individual plan as an individual can cover their spouse, children and parents as well.

Policy can be bought very easily but real dilemma arises at the time of selection of the policy. There are two ways to buy health insurance in India. Individual health insurance and mediclaim family floater can be online via insurance aggregators and preferred provider website. They can also be bought via offline method through direct agents as well as from direct health insurance companies. But online method has emerged as the most convenient and easier mode of buying insurance as it is economical and with shorter turnaround time.

The real question at the time of selection of policy arises whether to buy individual health insurance policy or to buy mediclaim family floater. Both these policies serve basic motive of insurance to provide health insurance cover to an individual and to provide financial assistance at the time of medical emergencies but they differ in their nature. Individual health insurance provides cover to one individual while mediclaim policy for family covers whole family.Individual health insurance is relatively expensive as compared to family floater mediclaim. Mediclaim policy for family can be taken by people with low budgets. Another benefit provided by family floater for family is the coverage provided by it. In the event of only one claim in a year, the family member gets a greater claim amount compared to what he might get on an individual cover. Thus, family floater mediclaim is a complete insurance plan for the entire family providing insurance cover to the whole family whereas individual health insurance caters to just one individual.

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