Question 1

What is a family floater health insurance plan?

Accepted Answer

A family floater is a single health insurance policy that covers your whole family — usually you, your spouse and dependent children — under one shared sum insured. Any member can use the cover in a given year, which typically makes it more affordable than buying separate individual policies for each person.

Question 2

What is the waiting period in health insurance in India?

Accepted Answer

Most health insurance plans in India have an initial waiting period of about 30 days from policy start (accidental hospitalisation is usually covered from day one), a waiting period of 1–2 years for specified illnesses and procedures, and a waiting period of up to 3 years for pre-existing diseases. Always check the exact waiting periods in the policy wording before you buy.

Question 3

Is cashless hospitalisation available at every hospital?

Accepted Answer

Cashless treatment is available at hospitals in the insurer's network, where the insurer settles the bill directly with the hospital. At a non-network hospital you generally pay first and then file a reimbursement claim. Checking that hospitals near you are in the network is one of the most important things to compare before choosing a plan.

Question 4

How much health insurance cover do I need?

Accepted Answer

A common guideline in India is a base cover of at least ₹5–10 lakh per person in metro cities, and ₹10–25 lakh for a family floater, with a top-up or super top-up plan to affordably increase the total cover. The right amount depends on your city, family size, age, existing conditions and the hospitals you prefer — our advisors can help you work it out.

Question 5

What tax benefit do I get on health insurance premiums?

Accepted Answer

Under Section 80D of the Income Tax Act (old tax regime), you can claim a deduction of up to ₹25,000 per year for health insurance premiums paid for yourself, your spouse and children, and an additional ₹25,000 for your parents — which rises to ₹50,000 if they are senior citizens. Please confirm current limits with a tax professional.

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Health Insurance in India — Common Questions