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A family floater plan is a single health insurance policy that covers multiple family members under one “floater” sum insured. Instead of individual policies, the total sum insured is shared across members; if one member uses a portion, it reduces the available balance for others in that policy year.
Non-Resident Indians (NRIs) are eligible to purchase health insurance plans for family, whether they are residing abroad or visiting the country. Specific NRI health insurance policies are designed to meet their needs. These include individual plans, senior citizen plans, critical illness plans, and, importantly, family floater plans covering family members residing in India.
Keep reading for detailed insight!
Benefits of best Health insurance for NRIs in India
Advantages of Taking a Floater Policy
How to Choose the Best Insurance Policy for NRIs in India?
Frequently Asked Questions
Wherever you are employed or residing overseas, whether in the United States, the United Kingdom, the United Arab Emirates, Australia, or any other part of the world, your international or employer-sponsored health plan will typically not extend coverage to medical expenses incurred in India. This creates a significant gap, particularly when you return to visit relatives or in situations where you have planned medical treatment or surgery in India.
Such situations highlight the importance of health insurance plans for NRIs in India. Check them out below:
One of the greatest advantages of an NRI health insurance plan is the security it provides whenever you travel back home. If you were to fall ill while visiting family, or if you required a scheduled medical procedure such as surgery or specialist treatment in India, you would not need to bear the financial burden personally. Instead, with an NRI health insurance policy, you can access cashless hospitalisation at an extensive network of empanelled hospitals across the country.
Another major benefit is the comparatively lower cost of medical insurance in India. Premiums in India are often substantially more economical than those in Western countries, where private healthcare insurance can be prohibitively expensive. In fact, premiums in India may be 30–50% lower than those of comprehensive global plans
Beyond this, the actual cost of treatment in India is also considerably cheaper; medical procedures and hospitalisation expenses are usually 70–90% lower than in Western nations.
For many NRIs, one of the main reasons to invest in a health policy back home is to secure cover for their parents and other dependents who continue to live in India. With a suitable family floater or health insurance for parents in India, elderly family members can benefit from cashless hospitalisation and comprehensive medical care, even when the NRI is not physically present to handle payments or paperwork.
Under Section 80D of the Indian Income Tax Act, NRIs are permitted to claim tax deductions on the premiums they pay towards health insurance. These deductions apply whether the premiums are paid for themselves, their spouse, dependent children, or parents.
The deduction amount is up to ₹25,000 per financial year for individuals below 60 and up to ₹50,000 for senior citizens.
Opting for family health insurance in India comes with several practical and financial benefits that make it a popular choice for NRIs:
One of the most attractive features of a floater plan is the affordability it offers. Instead of paying separate premiums for individual health insurance policies for each family member, a single consolidated plan covers everyone.
Managing several different health insurance policies can be confusing, especially when it comes to remembering renewal dates, policy terms, and the various benefits attached to each plan. A family floater policy eliminates this hassle by combining the entire family’s cover into one contract.
A key advantage of the floater system lies in the flexibility of its coverage. Since the sum insured is shared across the entire family, any member can access the maximum cover if required.
For example, if one family member encounters a major medical emergency that demands substantial treatment costs, they can utilise the whole sum insured, rather than being limited to a smaller individual cap. This adaptability provides peace of mind, as the insurance pool can be used where it is most urgently needed.
Selecting the most suitable health insurance policy for parents in India for non-resident Indians (NRIs) is not simply about finding the lowest premium. While affordability is certainly important, equal, if not greater, attention should be given to the policy’s coverage, the range of benefits offered, and the exclusions hidden within the fine print.
Below are some of the key features that NRIs should weigh carefully when choosing family health insurance in India:
One of the greatest advantages of taking out a health insurance policy in India is the access it provides to a broad network of well-established hospitals. It is advisable to choose a plan that partners with a wide range of reputable healthcare facilities across the country.
Policies that include cashless hospitalisation arrangements are particularly beneficial, as they remove the need for upfront payments and allow immediate care, something invaluable in times of emergency.
A reliable family health insurance plan should include critical illness coverage. With the increasing prevalence of severe conditions such as cancer, cardiovascular diseases, kidney failure, and strokes, having dedicated financial support for these high-risk ailments is essential.
Treatment for such illnesses can be extremely costly, and without adequate cover, the burden on families can be overwhelming. Opting for a policy that explicitly includes critical illness benefits ensures peace of mind and safeguards long-term financial stability.
For NRIs whose spouse, children, or parents reside in India, a family floater health insurance policy is often the most practical choice. Rather than purchasing separate policies for each individual, a floater plan covers the entire family under one umbrella, offering a larger shared sum insured.
This provides flexibility; if one family member requires expensive treatment, the entire cover can be utilised for them while still keeping others protected. It is both cost-effective and convenient for households with multiple dependants.
While most Indian health insurance plans for NRIs focus on providing cover within India, some insurers also offer add-ons that extend protection to medical treatments abroad. If you travel frequently for work or leisure, or if there is a chance of needing medical assistance outside India, this global coverage option can prove extremely valuable.
To wrap it up, NRIs can indeed include their family members under a family floater health insurance policy, making it a cost-effective and convenient way to secure healthcare coverage for the entire household. Such plans offer shared benefits, simplified management, and financial flexibility during medical emergencies.
They are particularly useful for covering spouses, children, and even dependent parents under one umbrella policy. While terms, coverage limits, and waiting periods may vary among insurers, choosing a reputable provider ensures peace of mind. Star Health Insurance offers dedicated NRI-friendly plans, making family floater policies a reliable solution for global Indians.
Can NRIs include their parents under a family floater health insurance policy in India?
Yes. NRIs may include dependent parents in a family floater or opt for dedicated senior citizen plans for them, depending on their requirements.
Do family floater policies offer cashless hospitalisation across multiple Indian hospitals?
Absolutely. Many policies feature a broad network of panel hospitals in India, offering cashless treatment, ideal when family members need immediate care without upfront payments.
Can NRIs claim tax benefits under Section 80D for premiums paid on NRI health insurance?
Yes. NRIs can claim deductions under Section 80D for premiums paid towards health insurance for themselves, their spouse, their children, and even their parents, subject to income tax applicability.
Are NRIs with pre-existing conditions eligible to buy health insurance in India?
Yes. NRIs can purchase policies covering pre-existing conditions, usually subject to waiting periods (often 2–4 years), co-payments, or premium loadings based on medical underwriting
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