Many people looking for a health insurance policy for their families wonder if they should take a family floater or individual policies for different family members.
A family floater policy, as the name suggests, offers to provide health insurance to the entire family unit in a single policy. In some cases, this policy can also include family members beyond the nuclear family of parents and young children, like grandparents. A floater policy is like any health plan that comes with a list of benefits and exclusions, the only difference being that it considers the entire family as one unit. So if one member of the family makes a claim in a policy year, the cover reduces by that much on the entire unit or family for the remaining policy year.