Insurance Awareness - Health Insurance
Which of the following is a significant advantage of a family floater health insurance policy over individual policies?
Which of the following is a significant advantage of a family floater health insurance policy over individual policies?
medium Q8 of Q15
Step-by-Step Solution
Step 1: Understand family floater policy features
Family floater policies provide a single sum insured that is shared among all insured family members.Step 2: Analyze options
A single sum insured shared among all family members correctly describes this. Separate sum insured for each family member describes individual policies. Coverage only for the eldest family member is incorrect as coverage is for all members. No coverage for pre-existing diseases is incorrect as many policies cover pre-existing diseases after waiting period.Final Answer:
A single sum insured shared among all family members → Option DQuick Check:
Family floater means shared sum insured, confirming A single sum insured shared among all family members.
Quick Trick: Remember family floater shares sum insured among members.
Common Mistakes:
MISTAKES- Confusing family floater with individual policies having separate sums insured.
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