Floater vs Individual Health Plan

An individual health plan gives each person their own dedicated sum insured, so one member's claims never reduce another's cover. A family floater pools one sum insured across the family, which is usually cheaper for young families but can be depleted by a single large claim.

Individual plans cost more in aggregate but suit families with elderly members or those with health conditions, where the risk of multiple or large claims is higher. Floaters work well for young, healthy families seeking cost-effective broad cover.

Many families use a hybrid: a base floater for the young members plus separate senior-citizen individual plans for ageing parents, often topped up with a super top-up for catastrophic costs.