In today’s times, a health insurance plan is an essential tool for every individual. Be it an adult, a senior citizen, or a child, each one needs a health insurance policy to ensure that any medical emergency is handled without worrying about money.
If you live with your family, buying an individual policy for every member would mean paying multiple premiums and managing multiple policies. This can be costly and cumbersome. A better option is to opt for a family floater health insurance plan where all members of your family are covered under a single policy.
One of the best benefits of a family floater plan is that you can add new members to it by paying a little additional premium. This is particularly beneficial for young individuals who can easily add their children to family floater health insurance.
This article will discuss the age range where a child can be included in a family floater cover in health insurance and when he/she needs to be excluded.
Entry Age for a Child in Family Floater Health Insurance
You cannot add a child to the family health insurance plan the day he/she is born. There is a minimum age after which you can add a new member to the plan.
While this can vary between insurers, usually, the accepted age of a child to be added to a family floater plan is 90 days from birth.
As the policyholder, you must inform the insurance provider about adding a new member to the plan. The insurer might charge an additional premium and ask you to submit certain documents, like the child’s birth certificate, for inclusion.
The child will be eligible to utilise the sum assured just like the other family members. Before you buy the policy, make sure that you check with the insurer about the minimum age of entry to the family plan and the process for adding a new member.
Exit Age for a Child in Family Floater Health Insurance
An individual cannot continue to be a part of a family floater health insurance plan for all his life. Insurance companies determine the maximum age after which the child is removed from the plan. This age varies between 18 and 25 years.
It is important to remember that there is no rule about the maximum age after which an individual has to be removed from a family plan. This is determined by each insurer. Hence, it is important to ask the insurer about the maximum permitted age when adding the child to the plan itself. This will help you prepare for buying an individual policy when the child reaches the said age.
Also, there are certain exigent conditions under which the insurer will permit the child to continue with the family plan. Remember, children above a certain age are removed from the plan since they are expected to start earning and have a family of their own that would need a separate family plan.
However, if the child has special circumstances, then the policyholder can submit a request to permit the child to continue under the plan. This varies from case to case and needs to be taken up with the insurance provider.
Further, some insurers allow unmarried and divorced girls to be part of the family floater plan of their parents regardless of their age.
When you decide to buy a family floater health insurance policy, make sure that you look at the options available to you and compare health insurance providers and plans carefully. There are different types of policies available, and comparing them will help you find the best one for your family. Good Luck!