Portability Of Small Business Health Insurance


The way we live our day-to-day moments adds to the risk of health, which eventually pays a big deal to the family members who are surviving behind us. If you have been struggling hard to secure your family and yourself from different types of routine health problems, you must invest in one small business health insurance policy. So, your parents need a health policy for meeting urgent medical expenditures, which can arise at any time.


What is a floater benefit?

When you buy the health insurance scheme, then you will confront a topic called floater benefit. So here is an explanation for you to understand in advance. Floater benefit is an advantage that covers family members such as- spouse, parents, children, self, and siblings. The same sum assured is provided to all the members by paying only one premium under the same single policy.

However, one infant, i.e., three months above, can be added to the policy, including one adult member. For example- you are insured, and your wife is not included in the policy, then your recently born infant can be included three months above your wife in the policy. Hence, a health insurance policy provides the additional sum insured benefit to the insurer and its family. The 10% of the annual sum insured is given as an additional sum insured to the policyholder on the renewal for each claim year till 50 % of the maximum amount.  In case any claim is taken under the policy, then the accumulated additional sum insured will be reduced by 10 percent from the annual sum insured that particular year.

What is the policy period?

In a health insurance policy, the buyer’s e period functional is one or a maximum of two years in different benefits offers.


Do they provide a cashless facility?

Yes, health insurance provides a cashless hospitalization facility at the closest hospital network or the nursing home, i.e., listed in the policy documents. You can also refer to the list of hospitals on the company website.

The advantages are not yet over, and there is a lot more to avail under the health insurance policy such as-

  • Free health checkup- the policyholder is entitled to avail of a free health checkup at a center mentioned in the list. There are coupons given in the document copy which are subject to one of year expiry.
  • Tax benefits- avail the tax redemption under section 80D of the income tax Act, 1961.
  • Freelook period- this is the offer. If you are not satisfied and want to cancel the policy, you can easily do so by giving a written application within 15 days of the policy document receiving.

A member who is five years of age and till 65 years of age can enroll in the small business health insurance plan. The renewal period is up to 75 years of age. So go ahead and give tension-free health insurance to your family members by paying a nominal amount as a premium.