Family Floater Insurance

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For the first time in India, one single policy takes care of the hospitalisation expenses of your entire family. Family Floater Health Plan takes care of all the medical expenses during sudden illness, surgeries and accidents.

Family Floater Insurance Plan - Premium

Premium for 1 Year plans in Rupees

Premium for 2 Year plans in Rupees

Family Floater Insurance - Policy Coverge

• Incurred as an inpatient during hospitalisation for more than 24 hours, including room charges, doctor/ surgeon's fee, medicines, etc.
• 30 days prior to hospitalisation.
• 60 days post hospitalisation.
• Day Care expenses incurred on advanced technological surgeries and procedures like Dialysis, Radiotherapy, and Chemotherapy, requiring less than 24 hours of hospitalisation.
• Pre-existing disease can be covered after the 4th year provided the policy is renewed with us for four consecutive years.

Family Floater Insurance - Key Benefits

• One Policy – One Premium for the entire family. The floater health plan covers your entire family under one policy with one sum insured and one premium. This takes care of hospitalisation expenses in case of a sudden illness, accident or planned surgery of the entire family.
  
• Income Tax benefit under Section 80D.
• 5% discount on premium for every claim free year
• Digitally signed policy is available 24X7 online, customer can take prints instantly. The hard copy of the policy is couriered the same day (or next day if customer buys after 6 PM) and will reach him/her within 2-3 working days.
• No health check up required upto the age of 45 years(as on last birthday).
• Medical checkup mandatory for insured of age 46 years and above. An adult aged 46 years and above has to undergo the following medical tests:
1. Complete Blood count
2. Fasting Blood Sugar
3. ESR
4. Serum Creatinine
5. SGPT
6. Urine Routine
7. ECG
8. Medical Examination with BP recordings - By a physician

Our representative will call the proposd insured (s) for prior appointment for the medical tests (mentioned above) within 2 days of receipt of full premium.

• Hassle free claims procedure
• Cashless claim facility available at over 3,500 network hospitals in more than 175 cities across India.
• Multiple payment options – credit card, net banking (direct debit), and cheque / demand draft.

Tax Benefit u/s 80D

How does Tax Benefit work?

Key Points to note

• Premium paid for medical insurance qualifies for rebate under Section 80D of the Income Tax Act.
• Section 80D benefit remains over and above Rs.1 Lakh benefit of 80C (ELSS, Principal component of home loan, Life Insurance etc
• Tax benefit goes to the person making payment, Person covered can be his/her dependant (spouse, children)
• The qualifying amounts under Section 80D is maximum upto Rs 10,000/-.
• A higher amount of upto Rs 15,000/- is permitted if the person, for whose health insurance the premium was paid, was aged 65 years or more at any time during the financial year in which the premium was paid.

Additional Benefits:

• Up to 2-year Cover: We offer a continuous 2-year protection with no increase in premium in the second year. This one time payment of premium for 2 years takes care of your renewal hassels next year. The sum insured is reinstated to the full sum insured after the first year. Option for 1 year cover also available.
• Single Policy: Single document, single premium, and single date to track. No need for separate policy for family members.

Family Floater Insurance - Eligibility

• The enrolment age (of the senior most family member) should be between 19 years to 60 years.
• Other members in the plan can be less than 19 years of age (i.e. up to 91 days)
• The policy cover is renewable till the age of 70 years.
• The customer can buy the policy for any family member(s).
• For the purpose of income tax exemption u/s Sec. 80D, the policy should be bought only for self, spouse, dependent children and dependent parents.

Family Floater Insurance - Policy Exclusions

30 Days exclusion

2 Years exclusions

• Cataract
• Benign Prostatic Hypertrophy
• Myomectomy, Hysterectomy unless because of malignancy
• Hernia, Hydrocele
• Fistula in Anus, Piles
• Arthritis, Gout, Rheumatism
• Joint replacement, unless due to accident
• Sinusitis and related disorders
• Stone in the urinary and biliary systems
• Dilatation & Curettage
• Skin and all internal tumors / cysts / nodules / polyps of any kind, including breast lumps, unless malignant / adenoids and hemorrhoids
• Dialysis required for chronic renal failure
• Surgery on tonsils and sinuses
• Gastric and duodenal ulcers

Permanent

• Any internal congenital illness.
• Non-allopathic treatment, pregnancy and childbirth related diseases, cosmetic, aesthetic and obesity related treatment.
• Expenses arising from HIV or AIDS and related diseases, use or misuse of liquor, intoxicating substances or drugs as well as intentional self injury.
• War, riots, strike, terrorism acts, nuclear weapon induced treatment.

Family Floater Insurance - Need for Floater

• Healthcare costs have been rising at more than 20 percent on an annualised basis and out of pocket spending on healthcare still continues to be around 75 percent. Source TOI
• Protect your entire family with a single policy against unforeseen medical contingencies
• Save Tax up to Rs. 3366 u/s 80 D of the Income Tax Act Supplements employer-based health plans with higher sum insured and medical benefits
• Individuals require to have an insurance that caters solely to their health needs, apart from life insurance and investments, that provides cover against expenses incurred during hospitalization, as well as before and after
• Avail cashless hospitalisation through ICICI Lombard's network of 3500 hospitals across India

Family Floater Insurance - Claim Process

• Cashless claim settlement process
• Reimbursement claim settlement process
• All India Cashless Hospital Network
• Documents Required
• Download Pre Authorisation Form
• Download Claim Form