Part of the same group
Health insurance · Family floater
One cover for the whole family, shared.
A family floater gives your household a single sum insured that any covered member can use. It usually costs less than a separate policy for each person — provided the shared cover is big enough for a bad year.
Reviewed
In short
- One sum insured, shared by everybody on the policy, renewed together.
- Usually cheaper than individual policies, because one bad year rarely hits everyone.
- The premium is set largely by the oldest member, so parents are often better on a policy of their own.
- More than half of the health policies arranged through Beema1 cover more than one person (Beema1 records, October 2026).
How a floater works
Everybody on the policy draws on one sum insured during the policy year. If one member’s hospital stay uses ₹3 lakh of a ₹10 lakh floater, ₹7 lakh remains for everyone for the rest of that year.
Most floaters cover you, your spouse and dependent children. Many also allow parents or parents-in-law, but adding older members raises the premium for the whole policy.
How much shared cover to consider
Think about the hospitals you would use and what a serious admission costs there, how many people share the cover, and the chance of two claims in one year.
A restoration benefit or a super top-up can add depth at a lower cost than a much larger base sum insured. About half of the families buying health cover through Beema1 choose between ₹10 lakh and ₹25 lakh; a little over a third choose ₹5 lakh to ₹10 lakh (Beema1 records, October 2026).
When separate policies are the better choice
When the members’ ages are far apart: a floater priced on a 58-year-old costs the whole family more. When one member has a condition likely to use much of the cover. And when grown-up children will soon leave the policy — they can usually move to their own cover with continuity, so check how.
Health cover check
A starting range to discuss₹15 lakh to ₹25 lakh
A super top-up can add the upper part of this range for less than a larger base policy.
Parents over sixty are usually better on a policy of their own.
Talk to us about health coverA starting range for a conversation, not a recommendation, worked out from where you would be treated, who is covered and their ages. About half of the families buying health cover through Beema1 choose between ₹10 lakh and ₹25 lakh. The right cover depends on your health, budget and the insurer’s terms.
What to check
These decide whether cover is real when you claim. Read them before the premium.
The eldest member’s age
The premium follows the oldest person covered. Adding a parent can raise the cost for everyone on the policy.
Room rent and sub-limits
A cap on the room category can reduce every related charge proportionately, not just the room rent.
Waiting periods
Pre-existing conditions, specified illnesses and maternity each carry their own waiting period, counted from the date each member joins.
Restoration
Check whether a used sum insured is refilled, how often, and whether it applies to the same illness or the same person.
Adding a spouse or newborn
Most policies let you add a spouse or a newborn mid-term or at renewal. Check the window and the documents needed.
Children growing up
Check the maximum age for dependent children and how they move to their own policy without losing continuity.
Questions people ask
General guidance. Your policy wording decides the specifics.
Is a family floater cheaper than individual policies?
Usually, because one shared sum insured costs less than several separate ones. The saving shrinks when the eldest member is much older than the rest, since the premium is largely set by that member’s age.
What happens if the whole sum insured is used up?
Further claims that year are not covered unless the policy has a restoration benefit or you hold a top-up or super top-up. The sum insured resets at renewal.
Can I include my parents in a family floater?
Many insurers allow it, but parents over sixty usually raise the premium for everyone and may bring co-payments. A separate senior citizen policy is often the better arrangement.
Does a no-claim bonus apply to a floater?
Many floaters increase the sum insured for each claim-free year, up to a limit. A claim by any member can affect it, so check how the policy applies it.
Can we move our floater to another insurer?
Yes, through portability, which carries eligible waiting-period credits across subject to the new insurer’s underwriting. Apply 30 to 60 days before renewal.
Insurance is the subject matter of solicitation. Benefits depend on the policy terms and the insurer’s decision; read the policy wording before buying.