Example Of Individual Health Insurance Vs Family Floater Health Cover

Let us understand the differences between Individual health insurance Vs the Family Floater with the help of an example: 

Example of Individual Health Insurance Plan:

Udit Desai, aged 34, had bought an individual health plan for ₹2 lakhs. He suddenly meets with an accident and the hospital bills amount to ₹1,75,000. Since Udit is covered under the plan, he opts for the cashless settlement claim benefit. The insurance company, in this case, is liable to pay the hospital bill amounting to ₹1,75,000.

Example of Family Floater Health Cover: 

Naman Singh, aged 34, had bought a family cover for ₹2,50,000. Apart from Naman, this plan covers his wife, children and aged parents. Naman has been hospitalized after an accident. The hospital expenses add to a total of  ₹180,000. Unfortunately, Naman’s family had already made a claim on the policy during the same year to pay for a surgery amounting to ₹190,000. This means while paying for his medical treatment, Naman has to pay ₹120,000 from his own pocket as he could make a claim for only the remaining ₹60,000 from the family health cover that he had bought.