Family Floater Plan

Overview

Under a floater, any covered family member can use the shared sum insured. It works well for young families where the chance of several large claims in one year is low.

Pros and cons

Pro: lower premium than separate individual plans.
Pro: one policy and one renewal date to manage.
Con: one large claim can use up cover for everyone.

Health insurance helps you pay for hospital stays, treatment and medicines without draining your savings. Plans differ in how many people they cover, how much they pay and which hospitals you can use.

Before buying, compare the sum insured, waiting periods for pre-existing conditions, room-rent limits, co-payments and the insurer's network of cashless hospitals.