Family Floaters In Health Insurance – In Detail

For covering the entire family under a single policy, get a family floater health insurance plan. Instead of spending a huge amount on individual health cover plans, a single-family floater plan for your family would be much more economical for you. It will save money and also provide the necessary coverage when any of your family members fall sick. The major highlights of family floater medical insurance plans are explained below:


Getting a family floater medical insurance is a practical decision. It is because there are rare chances that multiple members of your family will fall sick during the same period. Therefore, if any of your family members need to undergo major surgery or hospitalization period, then the entire sum insured can be used for their treatment. 

Also, insurance coverage offered by individual health insurance plans will be limited. However, as family floater insurance extends health protection to the entire family, the coverage amount will be naturally much higher. 


A family floater medical insurance comes at an affordable premium especially when the members of the family fall in the same age group. The inclusion of senior citizens like parents would increase the premium slightly. However, even then the premium of a family floater plan would be much less if we combine the premiums of individual medical insurance plans. 

Easy to manage 

The advantage of family health insurance plans is that you don’t have to pay multiple premiums. Therefore, monitoring due dates and maintenance of policy documents and other stuff gets much more convenient as compared to individual health cover policies. Therefore, the chances of missing a policy premium get minimized which eventually keeps all the members of your family covered. 

Ideal for nuclear families 

Nuclear families consist of only the wife, husband, and children. If you live in a nuclear family, family floater medical insurance would be the ideal option for you. It is because the coverage offered by family floater plans is usually sufficient for limited members. 

However, if you live in a joint family and want to cover the entire family, getting this medical insurance plan might not be a smart decision. The coverage would not be enough to provide health protection to additional members and you might have to opt for separate health cover plans for some members. 

Chances of coverage utilization by one member 

Also, if one of your family members gets seriously ill or suffers a critical medical condition, the entire cover can be used up. If another family member needs medical attention during the same time, you may not be able to provide the health protection cover to them. Due to these limitations, choose the family floater health cover plan smartly. Generally, people include their wives, children, and parents in a family floater plan. Some health cover plans even allow the inclusion of in-laws or one parent and one in-law. Therefore, you must inquire about such policy rules and conditions before getting the plan. 

Remember that when your children become 25 years old, they cannot be covered under the family floater medical insurance. You will need to get separate health insurance for them after eliminating their name from the policy cover. 

Check the number of family members covered under different family floater plans. It is because insurers tend to offer plans with varied limits for the number of family members. Also, see to it that the health coverage plan you choose provides enough coverage and medical facilities. You can check the family health insurance plans of leading insurers on the website of Bajaj Finserv. Here you can find detailed information about these and other types of health coverage plans. 

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