Health Insurance

Module Units

Example Of Individual Health Insurance Vs Family Floater Health Cover

Let us understand the differences between Individual health insurance Vs the Family Floater with the help of an example:

Example of Individual Health Insurance Plan:

Udit Desai, aged 34, had bought an individual health plan for ₹2 lakhs. He suddenly meets with an accident and the hospital bills amount to ₹1,75,000. Since Udit is covered under the plan, he opts for the cashless settlement claim benefit. The insurance company, in this case, is liable to pay the hospital bill amounting to ₹1,75,000.

Example of Family Floater Health Cover:

Naman Singh, aged 34, had bought a family cover for ₹2,50,000. Apart from Naman, this plan covers his wife, children and aged parents. Naman has been hospitalized after an accident. The hospital expenses add to a total of ₹180,000. Unfortunately, Naman’s family had already made a claim on the policy during the same year to pay for a surgery amounting to ₹190,000. This means while paying for his medical treatment, Naman has to pay ₹120,000 from his own pocket as he could make a claim for only the remaining ₹60,000 from the family health cover that he had bought.

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Units 18/33

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