Family floater plan? Already covered by Group Insurance

[lokeshz]

I am working in Govt PSU. Our organisation has taken Group Health Insurance but I feel the cover is less so I want to take another cover as family floater plan? Will I be eligible for it even if I am insured by my employer?

Please clear my doubt.

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[Master]

You can buy a family floater policy even if you are insured by your employer. It will supplement your existing medical cover if the cost of medical treatment is a little high to be covered by your existing cover level. Also, the insurance cover by your employer will remain in effect till you are in the service.

[CONFUSED]

I want to take another cover as family floater plan?

You can take another plan it won't be a problem.

Will I be eligible for it even if I am insured by my employer?

Yes you can take multiple policy. But you cannot take multiple claim for same event. You can only take multiple claim for for same event when one policy won't cover it completely.

[Policy_expert]

Family health insurance provides unique floater benefit. This means that each member in the family is covered upto the entire sum insured of the policy. For e.g., Mr. X, his wife and daughter are covered for Rs. 1 lac each, under a regular individual health policies paying three different premium (for each policy). During medical emergency, say, the surgery and hospitalization bill of his wife amounts to Rs. 1.5 lac, their regular health policy would cover only Rs 1 lacs while Mr. X would have to pay Rs. 50,000 from his pocket. However, in a family health insurance, the cover of Rs. 3 lacs would be shared among the entire family. Thus providing each member a cover of Rs. 3 lacs. Mr. X would thus have the entire Rs. 1.5 lacs medical expenses covered for his wife.

If you go for regular health insurance for your family, you have to look after 3-4 policies. Whereas with family health care insurance, you maintain just one policy that takes care of the entire family.