Service Chat: 
Difference Between Individual Health Insurance Plan and Family Floater Health Insurance Plan
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Point of Difference |
Individual Health Insurance Plan |
Family Floater Health Insurance Plan |
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Features |
Features of individual health insurance plan are:
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Features of family floater health insurance plan are:
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Coverage for |
Individuals | All the members of the family (yourself, your spouse, your children and your parents) |
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Coverages |
Coverages under individual health insurance plan are:
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Coverages under family floater health insurance plan are:
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Claims |
As all the individuals have their own SI, making a claim on individual health insurance policy will keep the SI of other individuals unchanged. | As all the family members share the same SI, making a claim will reduce the SI that will remain for the other members of the family in case of another claim in the policy period. |
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Factor affecting Premium |
The premium amount depends upon the age of the individual for whom the policy is purchased. | The premium amount depends upon the age of the oldest family member covered under this policy. |
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Premium Amount |
If you buy an individual health insurance plan for all your family members, you will end up paying high premium amount. | If you buy a family health insurance plan, you will have a single health insurance policy for all the members and thus the cost of the premium will be less as compared to individual health insurance plan. |
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Coverage for minors and adults |
Minors (individuals below the age of 18 years) and adults (above the age of 65 years) are not covered under this policy. |
Minors (children from the age of 3 months to 30 years) can be covered under this policy. But, adults above the age of 65 years are not covered. |
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