Insurance
Family floater
A single health policy that covers your whole family under one shared sum insured.
A family floater covers you, your spouse, and kids under one policy with a shared cover amount.
It is usually cheaper than buying separate policies for each person.
The catch is that if one member uses up most of the cover, less is left for the others that year.
For example
A ₹10L family floater covers all four of you, but if one hospitalisation uses ₹8L, only ₹2L is left for the rest that year.