Take one ‘Family Floater’ policy or separate one for everyone? Which health insurance will save your money and give you complete protection?

Health insurance has become a necessity in today’s times, it acts as a security shield for us in difficult times. Now the question comes which armor to choose? One big umbrella, under which the entire family comes (i.e. Family Floater Policy) or its own small umbrella for each member (i.e. Individual Policy)?

This is a question in which most people get confused. Let us remove this confusion once and for all and understand what is best for your family.

First understand, what is the foundation of ‘Family Floater’?

As the name suggests, this is a policy that covers your entire family (usually husband, wife and two children) under one umbrella.

Think of it this way: Suppose you ₹10 lakh Took a family floater plan of Rs. So this is ₹10 lakh a ‘Common Gullak’ These are like funds from which any member of the family can use the money for treatment if needed.

Why is it so popular? (its benefits)

1. Light on the pocket: This is much cheaper than buying separate policies. Insurance companies assume that not all members of the family will fall ill in the same year. For this reason, they provide the facility to use only one ‘common piggy bank’, which reduces the premium significantly.

2. Boon for small and young families: If you have a small family (husband and wife and small children), then this is a great option for you. You can get a bigger cover for your entire family at a lower cost (say ₹15-20 lakh), which will be cheaper than buying four separate policies.

But… there is a twist in the story! (its disadvantages)

1. If one is used, what about the rest?
This is the biggest and only weakness of the family floater. Suppose, your cover of ₹ 10 lakh is only for the treatment of one family member. ₹8 lakh Spent. Now your entire family has only ₹2 lakh Only the cover will be left. If God forbid someone else is in need, this amount may fall short.

2. If the elderly are included, the premium will become rocket!
The premium of a family floater policy is always for the family. oldest member It is decided according to the age. If you also include your parents in this policy, who are older, then the premium of the entire policy will increase so much that it will cost you a lot.

So what is the final verdict? What’s right for you?

The answer is pretty straightforward:

• Who should take Family Floater Policy?
  if your family small and young (spouse and children under 25 years of age), then a family floater is a good option for you. smart and cheap There is option. This will give you more cover at a lower premium.
• Who should take Individual Policy?
  1. If you Parents Also want to get health insurance (always take a separate policy for them).
  2. If anyone in your family already has any disease.
  3. If you want one for every member Fixed and guaranteed amount Always stay safe.

So next time you buy health insurance, keep these things in mind to choose the right ‘suraksha kavach’ for your family.