The correct answer is: A. The total premium payable is less than the total premium payable under non-floater policies.
A family floater health policy is a type of health insurance policy that covers the medical expenses of all members of a family, regardless of who incurs the expense. This is in contrast to a non-floater policy, which only covers the medical expenses of the policyholder.
The main advantage of a family floater policy is that it is more affordable than purchasing separate policies for each family member. This is because the risk is spread out over a larger number of people. Additionally, family floater policies often have lower deductibles and co-payments than non-floater policies.
However, there are some disadvantages to family floater policies. One is that they may not cover all of the medical expenses of each family member. For example, some policies may exclude pre-existing conditions or certain types of elective surgery. Additionally, family floater policies may have higher annual limits than non-floater policies.
Overall, family floater health policies can be a good option for families who are looking for affordable health insurance coverage. However, it is important to compare different policies and understand the coverage limits before purchasing one.
Here is a brief explanation of each option:
- Option A: The total premium payable is less than the total premium payable under non-floater policies. This is because the risk is spread out over a larger number of people.
- Option B: The total premium payable is more than the total premium payable under non-floater policies. This is not usually the case, as family floater policies are often more affordable than purchasing separate policies for each family member.
- Option C: Both A & B. This is not usually the case, as family floater policies are often more affordable than purchasing separate policies for each family member.
- Option D: None of the above correct. This is the correct answer.