Rather than purchasing individual health insurance policies, consider opting for a family health insurance plan. With just one premium payment, this plan provides coverage for multiple family members, offering a more comprehensive and cost-effective solution.
Bavadharini KS
BL Research Bureau |
Updated on
April 17, 2021
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Do keep in mind that premium may go up in case one of the members has a pre-existing condition
A health insurance policy is a must-have even before you plan your investments. But before you buy one, give a thought to whether you want to buy an individual or a family floater insurance policy. In case of the latter, a single policy takes care of the medical expenses of the entire family. While both variants of the policy help ease your financial burden at the time of a medical emergency, a family floater policy is not always recommended. So, when does it make sense to take a family floater policy and when not? Here are a few points to keep in mind while deciding.