A floater covers the family under a single sum insured that any member can draw on. It usually costs less than separate individual policies for the same headline cover.
The trade-off is real: one significant claim can consume the pool for the year. We size the floater accordingly, and often pair it with a super top-up.
Who needs this cover
Young families with children
Households wanting one policy to administer
Families with no significant existing health conditions
Key benefits
One premium for the whole family
Shared sum insured used by whoever needs it
Cashless network access
Cumulative bonus for claim-free years
What is typically covered
In-patient hospitalisation for all insured members
Pre and post-hospitalisation expenses
Day-care procedures
Maternity and newborn cover where the plan includes it
Eligibility
Adults typically to 65 years at entry; children from 90 days
Members must be declared at inception or added at renewal
Key exclusions and limitations
Pre-existing conditions during the applicable waiting period
Initial waiting period, usually 30 days, except for accidents
Specific-illness waiting periods as listed in the policy
Exclusions differ between insurers and product variants. Always read the policy wording for the exact list.
Claim information
The process is the same as an individual policy — cashless via pre-authorisation, or reimbursement with originals. We coordinate with the hospital desk and the insurer for you.
Information on this website is educational and advisory in nature. Insurance products, benefits, exclusions, waiting periods and claim outcomes are subject to the terms and conditions of the respective insurer's policy document and applicable IRDAI regulations. Please read the policy wording carefully before concluding a sale.
Frequently asked questions
It is the time that must pass before certain conditions can be claimed. Health policies typically have an initial period of around 30 days covering everything except accidents, specific waiting periods of one to two years for listed conditions, and a longer period for pre-existing conditions. The exact periods are stated in your policy schedule.
Yes. Portability lets you move to another insurer while carrying forward the waiting-period credit you have already accrued, provided the policy has been continuously renewed and you apply within the window before renewal. Acceptance is subject to the new insurer’s underwriting.
