Guwahati, Oct. 28 -- When a household includes both young children and ageing parents, the choice of family floater vs individual policies for everyone depends mostly on age and health. Children fit well on a family floater, while seniors are usually better off with separate plans of their own. Their medical needs, claim patterns and premiums are too different to share one sum insured comfortably.

Seniors and children sit at opposite ends of the health insurance spectrum. Their risks, costs and policy terms differ in almost every way.

Children: Claims usually involve fevers, infections, minor injuries and vaccinations. Hospital stays are short, and costs are generally low.

Seniors: Claims often relate to heart conditions, diabetes, joi...