Health insurance


Hi all,
My age is 21. and my mother s age is 45. I am actually planning to take one medical insurance for my mom. I am generally thinking of taking with PSU. I asked for the individual policy for my mom but my broker is telling me to take a oriental family floater with my name as proposer for 3lakhs.
Reasons given by broker for suggesting family floater :
1. No medical test for my mom since am the proposer(In individual policy for mom if they find any diseases then premium will be higher)
2. Mostly I will not fell ill as i am in younger age and I can use this insured amount fully for my mom.
Is the above reason valid one for buying family floater?
Is there any other advantage in family floater?
I am not very keen in taking health insurance for me as I am young. if there is any advantage (family floater) i will take . why brokers are interested in selling family floater?

policy for 3 lakhs family floater – 4754(approx)
policy for individual 3 lakhs —————-4541(approxi)
Pls help me to take a decision.

4 replies on this article “Health insurance”


    Dear ashal,Rakesh,shree

    Thanks for all of your valuable suggestions. I ll take an individual policy for my mother and myself.

  2. Rakesh Kumar says:

    Dear Vignesh,

    I would also suggest you to go for individual policy for both of you.

    Especially for your mother as currently she is 45 so getting an individual policy would not be difficult.

    Problem with any family floater (like Oriental family floater) is that in case something happens to proposer then policy ceases to exist at the end of policy date and dependent family member has to take a new policy.

    The biggest problem would to get the insurance itself in case they are in higher age group.
    Also in new policy again they have to wait to cover pre-existing diseases.
    Depending on the medical history of the person, company would add exclusion also.

    Considering all this, take an individual policy for your mother.

    Hope this help.


  3. Dear Vignesh, for your given situation, you may check with your bank. A lot of banks are offering mediclaim policies for their customers under a tie up from a general insurer.

    The relative prem. of this group policy is lower than an individual policy.

    Else please go ahead for an individual policy for both of you. The prem. paid ‘ll be available for tax benefit under section 80D which is an icing on the cake.



  4. Shree says:

    For family floater policy the premium payable increases if there is insurance claim. Hence it is suggested to have individual policies.
    Since for you the claim may not be there for quite long period , your premium amount will not change over period of time but in case of your mom, if there is claim premium payment for future policy will be additional.

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