Health Insurance 221 views May 15, 2021

Health insurance covers the expenses incurred towards medical treatment. But what if these expenses go beyond the cover limit or you have multiple hospitalizations in a policy year? In such a case, Future Health Surplus Plan can help you manage the financial burden by providing an additional cover on your existing health insurance.

This is a high-deductible health insurance plan where the insurer will cover only when your medical expenses exceed the deductible in a policy period. You can consider this plan from Future Generali as a top-up plan to your existing health insurance policy. To understand this plan better, let’s check its prominent features mentioned below.

  1. Multiple sum insured and deductible options
  2. Floater benefit (spouse and up to 2 dependent children)
  3. Family Floater Discounts
  4. No pre-policy medical checkup up to the age of 55 years
  5. A 15-day free look period
  6. Tax benefits on the premium paid towards the policy (under Section 80D of the Income Tax Act, 1961)

Now you would want to get familiar with these features of the Future Health Surplus Plan. On this page, we will be discussing the same along with its various aspects. Keep reading to know more!

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Key Features of Future Health Surplus Plan in Detail

Available on an individual and family floater basis, Future Health Surplus Plan is a supplement to your current health insurance plan where you can choose a higher sum insured over and above the deductible limit. We are showing its key features so that you can decide accordingly.

Multiple Sum Insured and Deductible Options

Future Health Surplus Plan offers multiple sum insured and deductible options from which you can choose according to your needs. We are showing the options in the below table.

Sum Insured (in INR)Deductible per Hospitalization (in INR)
3 lakh2 lakh
5 lakh2 lakh
5 lakh3 lakh
7 lakh3 lakh
10 lakh5 lakh

For example, if the sum insured is INR 5 lakh and the deductible is INR 3 lakh, this plan will cover INR 5 lakh for an overall claim of INR 8 lakh (over and above the deductible).

What is Covered Under Future Health Surplus Plan?

With the Future Health Surplus Plan, you will be covered against hospitalization expenses more than the deductible per hospitalization incurred. However, it should not exceed the sum insured during the policy period. The following expenses will be covered under this plan.

  1. In-patient hospitalization expenses for a minimum of 24 hours (Room, board & nursing expenses)
  2. Expenses on Surgeon, Anaesthetist, Medical Practitioner, Specialists Fees, Anesthesia, Blood, Oxygen, Operation Theatre Charges, Surgical Appliances, Medicines & Drugs, Diagnostic Materials, and X-ray, Cost of Pacemaker, prosthesis/ internal implants
  3. Pre-hospitalization expenses incurred within 60 days before the admission to a hospital
  4. Post-hospitalization expenses incurred within 90 days after the date of discharge from the hospital

No Pre-policy Medical Checkup

For individuals up to 55 years, there is no need to undergo medical screening before choosing this policy. Medical tests are necessary for people above 55 years, and Future Generali will reimburse 50% of the test charges if a policyholder or his/her family member is covered by the insurer.

Family Floater Discounts

Future Health Surplus Plan also provides family floater discounts on the premium amount as per the below table.

AgeFloater Discount
3 months -17 years60%
18 - 35 years55%
36 - 45 years50%
46 - 55 years45%
56 - 65 years40%
66 - 70 years35%
71 - 75 years30%
76 - 80 years25%
81- 85 years20%
86 - 90 years20%
91 years & Above20%

Free Look Period

If a policyholder is not satisfied with the terms and conditions of the Future Health Surplus Plan, he/she can return the policy within a free look period of 15 days from the date of receipt of the policy documents.

Future Health Surplus Plan Eligibility Criteria

What are those conditions that an individual needs to meet when going for a Future Health Surplus Plan? Well, we are mentioning the same below.

  1. The minimum age for an adult stands at 18 years, while it can go up to 65 years with a lifetime renewal option.
  2. For children, the coverage eligibility will depend on the parents’ insurance with Future Generali. The age of entry for children ranges from 3 months to 25 years. To know more, check the below table.
    Child’s Entry AgeCoverage Eligibility
    3 months - 5 yearsCovered if both parents are insured with Future Generali
    6 - 18 yearsCovered if either of the parents is insured with Future Generali
    18 - 25 yearsCovered as self-proposer or as dependant/s

Exclusions Under Future Health Surplus Plan

You will not get coverage under this supplement plan in case of the occurrence of the following situations.

  1. Any disease contracted during the first 30 days from the inception of the policy
  2. Non-allopathic treatments
  3. Congenital external illness/diseases/defect anomaly
  4. Venereal /Sexually Transmitted Diseases other than HIV/AIDS
  5. Use of alcohol or drugs
  6. Joint replacement surgery coverage after a waiting period of 3 years (unless required due to an accident)

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