The difference between an Individual and a Family Floater Health Insurance

Health Insurance Plans starting at Rs.15/day*

Health Insurance Plans starting at Rs.15/day*

Maintaining good health is essential for an individual as well as a family. Rising medical inflation has made it nearly impossible to manage the expenses of doctor visits, hospitalisation and medicinal cost in today’s uncertain times. The current pandemic situation has also revealed that a health emergency can strike anytime and affect people of all ages. This is why a Health Insurance is required.

While purchasing a Health Insurance Policy, you need to decide if you should choose an Individual Health Insurance or a Family Floater Health Insurance on needs basis. They differ in the quantum of coverage depending on the number of members insured under the policy.

To help you choose better, you need to know how each works!  

Individual Health Insurance  

An Individual Health Insurance Plan offers cover for a single member up to the limit of the chosen Sum Insured. The Individual Health Insurance Plan makes one individual as the beneficiary for the chosen Sum Insured and doesn’t require sharing with any of the other family member as is the case with Floater Plans. This plan is suitable for those individuals who need an adequate coverage. 

Star Health offers Medi Classic Insurance Policy, an exclusive Individual Health Insurance Plan. Moreover, Individual plan options are also available in the other policies offered by Star Health, such as, Star Comprehensive , Star Women Care, Star Health Assure, Super Surplus and so on.

How is the Premium calculated for an Individual Health Insurance?

The Premium for an Individual Health Insurance is calculated based on the age of the insured, Sum Insured opted and the area/location of an individual.

Family Floater Health Insurance  

A Family Floater Health Insurance Plan is an umbrella cover, wherein all the family members are covered under a single Sum Insured. It is a flexible plan, which allows any insured member in the family to use the coverage amount in the event of a medical emergency. But the flip side is that if any one single member has utilised the entire Sum Insured, the others are left with no coverage.

Family Health Optima Insurance Plan is an exclusive floater Health Insurance plan offered by Star Health. The option of Floater is also available in Star Health’s other Health Insurance plans, such as, Star Comprehensive, Young Star, Star Health Premier, Star Health Assure and so on.

How to calculate Premium for a Family Floater Health Insurance?

The Premium for a Family Floater Health Insurance is calculated based on the age of the eldest family member, family size and area/location where the family resides.

Factors to be considered while choosing between the Individual and Family Floater Health Insurance  plans

While the Premium amount varies between both policies, it should not be the only thing to consider! You must also consider the following factors while choosing a medical insurance policy: 

  • Determine your requirements, list out the benefits and costs of both the plans and take decisions.
  • You can cover yourself in a Family Floater plan altogether, or you can buy an Individual plan exclusively for you.
  • Besides, while opting for a Family Floater Plan and if you are including your parents, who may be more prone to illness and hospitalisation due to their age factor, it is always suggested to go for a higher Sum Insured.

Family Floater vs. Individual Health Insurance  in a Nutshell

DetailsIndividual Health InsuranceFamily Floater Health Insurance
DefinitionIt is an insurance plan where only one person is covered. This means that the Sum Insured is exclusive to the Insured individual and cannot be shared.It is an insurance plan that extends coverage to the entire family. This means that the Sum Insured would be shared by all family members.
CoverageThis plan offers wider coverage to the single individual who has a dedicated Sum Insured. This plan offers coverage to all family members insured in the plan. Here every family member gets benefits under a larger common pool. That is, the Sum Insured is shared amongst all insured in the plan.  This plan usually covers the individual, spouse and children. However, some insurers do have provisions to cover dependent parents, siblings and parents-in-law in the plan.
Ideal customerIt is highly beneficial for bigger families or those with senior parents due to its extensive coverage.It is recommended for a young couple or a small and a nuclear family.
Mid-term inclusionMid-term inclusion of a newly married/wedded spouse or newborn baby is possible in an Individual Health Plan.Mid-term inclusion of a newly married/wedded spouse or newborn baby is also possible in a Family Health Plan. However, children turning 26 years need to shift to an Individual plan and will no longer be covered under the Family Insurance plan. 
Add-onsIf you are opting for an Individual Health Insurance plan, make sure you opt for relevant add-ons suitable for your requirements.If you want to opt for a Family Floater plan, then opt for a higher Sum Insured to ensure that the total Sum Insured is sufficient for meeting the needs of the family members.


Before purchasing the policy, factors like number of family members, age and health risks are to be considered. Whether an Individual or a Floater plan, choose a policy that would best serve your needs.

Star Health Insurance offers an array of Health Insurance Plans both on an Individual and on a Family Floater basis. Refer to policy clause of the Health Insurance Policies for more details. 


The Information including but not limited to text, graphics, images and other material contained on this blog are intended for education and awareness only. No material on this blog is intended to be a substitute for professional medical help including diagnosis or treatment. It is always advisable to consult medical professional before relying on the content. Neither the Author nor Star Health and Allied Insurance Co. Ltd accepts any responsibility for any potential risk to any visitor/reader.

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