What does it do?
This policy is designed to cover hospitalisation expense of a family on floater cover basis. Floater cover allows any of the insured members to use the sum insured until it is depleted. It covers inpatient hospitalisation expenses and pre and post hospitalisation expenses up to the stated limits. Maximum cover allowed for room rent, boarding, lodging and ICU are capped to certain percentage of sum insured. It also pays for emergency ambulance and day care procedures. Day care procedures are those that do not require an overnight admission in hospital due to technological advancements such as chemotherapy, dialysis etc.
Pros
The policy allows lifetime renewal and premiums paid toward the policy qualify for deduction under section 80D of Income Tax Act.
Cons
Room rent and ICU charges are capped. It is not available for purchase online.
