India, Dec. 29 -- justify;">With rising healthcare costs and ongoing health uncertainties, many families prefer a single plan that can cover all members under one policy. That is where health insurance for family">health insurance for family">health insurance for family, commonly known as a family floater plan, comes in.

It offers shared coverage for spouses, children and, in some cases, parents, allowing all members to be covered under one plan instead of buying individual policies.

A family floater plan operates on a shared-sum concept, where one pool of coverage is available to all members insured under the health insurance">health insurance">health insurance policy. Instead of separate sums of insurance for each person, the family s...