What is Family Floater and what are its advantages?
Family Floater is a policy wherein the entire family of the insured, comprising of insured, spouse and two dependent children, is covered under single sum insured. The advantages of such a policy are: 1. All members of the family (as defined above) can be covered under one policy. 2. Single Premium is payable for the entire family. 3. The amount of Sum Insured floats over the entire family i.e., the limit can be used by any member of the family and for any number of times. 4. One does not have to keep a track of renewals for different members; a single renewal date is to be remembered.
