Can dependent children be included in a family floater, even after they are 25 years of age?


Securing their child's health is the top priority for parents. Family floater health insurance plans can be utilized to insure them. In most family floater policies, an individual is allowed to include a maximum of four children, once they reach a minimum age specified for the policy. As everyone is covered under the same family floater plan, the premium would increase slightly with the addition of each new member, but the coverage received by all of them would be equal to the value of the maximum sum insured.

Most health insurance family floater plans specify an age limit for dependent children until which they would be offered coverage under the plan. Whereas the age limit usually varies from 18 to 25, some policies cover unmarried, divorced or widowed daughters with no age limit, depending on the insurer and policy terms. After the child attains the defined age limit or becomes financially independent, they are excluded from the family floater plan and mandatorily shifted to a separate policy.

Moving to a separate health insurance plan is often beneficial to independent children, as they might require more coverage and family floater policies with higher coverage come at expensive prices. Moreover, they can also avail tax benefits on their income, along with all continuity benefits of their older family health insurance plan such as waiting periods. Therefore, experts suggest that young adults capable of earning their living move to their own individual or family floater plan.

Why is it better to take a personal policy as soon as possible?

Investing in an individual health insurance policy when a person is in their mid-20s offers several benefits:

Low Premium - This depends on multiple factors including the age at which the policy is purchased. As young people are considered healthy and less susceptible to diseases as compared to elders, the premium amount tends to increase with age. Therefore, purchasing a health insurance policy at an early age allows the insured to get the maximum coverage needed at a nominal rate.

No Medical Screening - Most insurance companies ask the policy seeker to undergo a medical check-up before purchasing a health insurance policy, if they are above the age of 45yrs. In case the reports show any health problems, the insurer might increase their premium amount. However, when a person buys the policy at a young age, they save themselves from such problems as they are exempted from the medical check-up.

Waiting Periods Served Well in Time - Most health insurance plan holders in India have to wait for a specific period before they can make claims for certain pre-existing diseases or avail of policy benefits such as maternity benefits or childbirth coverage. This is known as the waiting period and usually ranges from two to four years. When an individual buys a health insurance policy at a young age, the waiting period is likely to be exhausted well before the health cover would be required. On the other hand, health insurance policy coverage started at a later stage in life often comes with longer waiting periods and many exclusions.

Option to add Spouse on Marriage - When children turn 25, they might be nearing marriage, and investing in health insurance would be beneficial for them as well as their future family. Most plans come with an option of adding their spouse to the same policy, instead of buying another individual policy.

Financial Independence - Getting a personal health insurance policy in their twenties would ensure that the policyholder has the adequate medical cover required for unforeseen medical emergencies. Hence, they would not have to depend on someone else to help with their expenses. It also helps them plan their finances better and focus on other long-term investments.

SANA.Insure is a digital platform that provides quick, unbiased, simple, and easy access to comparative information on various health policies available in India. Policy seekers can visit our health insurance portal, SANA.Insure to get a better understanding of complicated policy features such as age-at-entry and age-at-exit. It helps them choose the best health insurance policy for their family's needs.

Get in touch with us over WhatsApp chat on 8278271818 or call us on 1800 202 8118 to connect with a Health Insurance Expert at SANA.Insure.

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