Family Floater definition

Family Floater means a Policy described as such in the Schedule where under You and Your Dependents named in the Schedule are insured under this Policy as at the Commencement Date. The Sum Insured for a Family Floater means the sum shown in the Schedule which represents our maximum liability for any and all claims made by You and/ or all of Your Dependents during the Policy Period.

Family Floater means a Policy described as such in the Schedule where under You and Your Dependents named in the Schedule are insured under this Policy as at the Inception Date. The Sum Insured for a Family Floater means the sum shown in the Schedule which represents Our maximum liability for any and all claims made by You and/or all of Your Dependents during each Policy Period.

Family Floater means the Sum Insured shown in the Policy Schedule/ Certificate of Insurance which represents the Company’s maximum liability for any and all claims made by any one Insured and/or all Insured Person(s) together during the Policy Period.

Examples of Family Floater in a sentence

• If any Insured Person who is a child and has completed Age 21 years at the time of Renewal, then such Insured Person will have to take a separate policy based on Our underwriting guidelines, as per Our Board approved underwriting policy as he/she will no longer be eligible to be covered under a Family Floater Policy.

• For an Individual Policy or Family Floater Policy, if the Policy is Renewed with Us without a break or if the Policy continues to be in force for the 2nd Policy Year in the 2 year Policy Period (if applicable), each Policy Year We will increase the Sum Insured applicable under the Policy by 10% of the Base Sum Insured of the immediately preceding Policy Year subject to the percentage limit specified in the Schedule of Insurance Certificate.

• If on the death of some of the Insured Persons during the Policy Period which results in the remaining Insured Persons being ineligible to avail a Family Floater Policy or Family First Policy, on Renewal, We will issue eligible insurance cover to the remaining Insured Persons subject to Our Board-approved underwriting policy.

• We will cover the members of the Policyholder as per Relationships defined for the Group members on a Family Floater Sum Insured basis.

• In case of Family Floater Policy, Sum Insured means the total of the Base Sum Insured and Loyalty Additions as per Section 4.1 which is Our maximum, total and cumulative liability for any and all claims during the Policy Year in respect of all Insured Persons.

More Definitions of Family Floater

Family Floater means a Policy described as such in the Schedule where under the Insured and his or her Dependents named in the Schedule are insured under this Policy as at the Commencement Date. The Sum Insured for a Family Floater means the sum shown in the Schedule which represents the Company’s maximum liability for any and all claims made by the Insured and/or all of the Dependents during the Policy Period.

Family Floater means a Policy described as such in the Policy Schedule where You and Your Dependents named in the Policy Schedule are covered under this Policy as at the Commencement Date. The Sum Insured for a Family Floater is the amount shown in the Policy Schedule which represents Our maximum liability for any and all claims made by You and/or all of Your Dependents during each Policy Year.

Family Floater means Policy wherein all Insured Person/s of a family are covered under a single Basic Sum Insured. Basic Sum Insured for family floater policy is the amount specified in the Policy Schedule which represents the Company’s maximum total & cumulative liability for all Insured Person/s for any or all claims incurred during the Policy Period. 2. “Hospital ” A hospital means any institution established for in- patient care and day care treatment of illness and / or injuries and which has been registered as a hospital with the local authorities under the Clinical Establishments ( Registration and Regulation ) Act, 2010 or under the enactments specified under the Schedule of Section 56(1) of the said Act OR complies with all minimum criteria as under:

Family Floater means Policy wherein all Insured Person/s of a family are covered under a single Basic Sum Insured. Basic Sum Insured for family floater policy is the amount specified in the Policy Schedule which represents the Company’s maximum total & cumulative liability for all Insured Person/s for any or all claims incurred during the Policy Period excluding Cumulative Bonus, Cumulative Bonus Enhancer, Restore Sum Insured, Capital Sum Insured and specific limits as available to the Insured Person/s as stated in the Policy Schedule.

Family Floater means a Policy described as such in the Policy Schedule where under You and Your dependents named in the Schedule are insured under this Policy as at the policy period start date. The Base Annual Sum Insured for a Family Floater means the sum shown in the Schedule which represents Our maximum liability for any and all claims made by You and/or all of Your dependents during each Policy Year. Genetic Disorder Means a genetic problem caused by one or more abnormalities in the genome, especially a condition that is present from birth, also it can be hereditary or acquired in nature. Grace Period means the specified period of time immediately following the premium due date during which a payment can be made to renew or continue a policy in force without loss of continuity benefits such as waiting periods and coverage of pre-existing diseases. Coverage is not available for the period for which no premium is received.

Family Floater means a Policy described as such in the Policy Schedule where under You and Your Dependents (Spouse, dependent children, dependent parents/parents in laws) named in the Policy Schedule are insured under this Policy as at the Commencement Date.

Family Floater means a Policy where the family members (Self & Spouse) named in the Certificate of Insurance are insured under this Policy. Only the following family members can be covered under this Policy: