Individual Health Insurance vs. Family Floater Health Insurance

It’s a common saying that the greatest wealth is health. While planning our future, we often ignore this critical aspect and take our well being for granted considering that a healthy lifestyle and stress-free conditions are enough to keep us going. It’s time we account for uncertainty.

Healthcare treatment costs are increasing at an exponential rate and are predicted to only soar higher. Having a health insurance plan helps you avoid stressful conditions during emergency health situations without having your pocket do the heavy lifting. This peace of mind is a basic necessity. Adding a health insurance plan to you basket of long term planning will safeguard yourself and your loved ones from critical ailments and unforeseen monetary misery.

With varieties of health insurance plans flooding your way, picking the ideal health insurance plan may seem confusing. There are two standard types of health insurance plans you can opt for irrespective of the insuring company, ie. Family Floater Health Insurance Plans and Individual Health Insurance Plans. While purchasing a health insurance plan, you will preferably need to pick between a Family Floater Health Insurance and an Individual Health Insurance. 

The principal distinction between the two is that your spouse and children are secured in a family floater medical coverage under one arrangement. This implies that the expenses incurred on buying the plan, and the plan’s benefits, both are shared among all the included members in the family. An individual health care coverage plan is devoted to one individual solely, wherein the health care coverage charge and aggregate assurance amount are committed to one individual only.

Here’s how you can tackle this dilemma. Research thoroughly and narrow down your short term, midterm and long term goals. Based on your financial plan, allocate resources to the most ideal plan for yourself and your family.

Cover 360 is a complete health insurance services platform that offers all the information, comparison facility and easy buying options for all the available health insurance policies in India.

The trustworthy one-stop solution makes health insurance policy comparison easier than ever. It helps to place the jigsaw’s missing parts to complement your pricing needs, treatment coverage, and relevant add-on requirement holistically.