India, Oct. 31 -- When you need health cover for your family, you have a few things to consider. Who will be covered? How much cover will each person have? What happens if one family member needs a large part of the cover? If you are comparing health insurance plans, these questions can help you understand whether an individual health insurance policy or a family floater fits your needs.

How Does an Individual Health Insurance Policy Work? An individual health insurance policy provides a separate sum insured for the person covered under that policy. If four family members each have individual policies with a sum insured of 5 lakh, each policy has its own 5 lakh limit, subject to the applicable policy terms.

This keeps each person's cove...