All general insurance companies offer mediclaim policies with a family floater clause. Is it advisable to go for this clause?
In case of a normal mediclaim policy, you specify the sum insured against each family member and, in the event of a claim, if the expenses go beyond that amount, one has to bear the expenses that are over and above the sum insured. The family floater clause in a mediclaim insurance policy provides each family member the benefit of the entire sum insured under the policy. It is, therefore, better to go for mediclaim policy with a family floater clause. The premium in case of floater policies is slightly higher than the normal mediclaim policies.
