My wife is the only child and has responsibilities towards her parents. Can she take family floater insurance for her parents and include our children?
Devendra Mishra, Ghaziabad
In case of a family floater health insurance policy, the definition of family varies depending on the insurer or even in some instances the policy. Most insurers define family as self, spouse and up to two children. There are a few plans available that let you cover extended families including parents and in-laws. Under the family floater policy, the sum assured of the plan would be shared across all the family members. For sharing the sum assured, you get a discount on the overall policy premium. Some insurers may also have a separate cover for each person and then an overall floating sum assured. If your in-laws are unable to get an individual policy due to age or any other reason, your wife could do with a floater plan and include them.
